A QUICK GUIDE FOR INTERNATIONAL INVESTORS
- In May 2017, the Turkish government introduced a landmark citizenship programme to promote foreign investment.
- The programme foreign nationals who buy real estate or bring capital over certain thresholds the eligibility to acquire Turkish citizenship.
- The most striking feature of the programme is that investors do not have to live in Turkey to acquire the citizenship.
- In September 2018, the investment thresholds were substantially lowered by the government, making it by far the most attractive citizenship programme in the world.
- Buy properties worth of 250.000 USD * with a deed restriction not to sell for 3 years or
- Deposit 500.000 USD cash in Turkish banks * with a condition not to withdraw for 3 years or
- Buy government bonds worth of 500.000 USD * with a condition not to sell for 3 years or
- Buy shares worth 500.000 USD in Turkish REITs or VCTs * with a condition not to sell for 3 years or
- Make 500.000 USD fixed-asset investment or
- Hire 50 employess in your company
- 1.OPEN A BANK ACCOUNT
An account in a Turkish bank should be opened in the name of the investor.
- 2.MAKE YOUR INVESTMENT
Execute the necessary investment transactions (i.e. real estate title deed transfer, cash deposit, government bond /share purchase etc.)
- 3.APPLY FOR RESIDENCE PERMIT
Applicants are required to hold a valid residence permit at the time of citizenship application. Nevertheless permit holders can continue to live abroad as long as they wish.
- 4.APPLY FOR CITIZENSHIP
You can immediately apply for citizenship once your residence permit is granted. No physical presence or interview is required during the application process.
- BECOME CITIZEN WITH YOUR FAMILY
Your spouse and children under 18 years old can acquire citizenship together with you at the same time.
- NO WEALTH DECLARATION
When you apply for citizenship, you are not required to declare your assets or income that you currently have in other countries.
- NO NEED TO BE A PERMANENT RESIDENT
You do not have to have lived continuously in Turkey for a certain period to become eligible for citizenship. You can continue to live abroad and apply for citizenship as soon as you get the residence permit.
- REPATRIATE YOUR INVESTMENT
After holding your investment for 3 years., you can cash out your investment and repatriate the funds along with its proceeds (i.e. rental income, interest etc.) free of exchange control restrictions.
Currently, Turkish citizens can travel to 102 countries without the need to follow a cumbersome visa application process. Vast majority of these countries allow Turkish citizens to stay 30 to 90 days without any visa requirement while some countries grant visas upon arrival or issue electronic visas upon online application. The Visa Liberalization Dialogue, the aim of which is to grant Turkish citizens visa-free travel right to Schengen countries, between Turkey and the EU was launched in 2013. Once achieved, further 26 European countries will be added to the list of 102 countries where Turkish citizens can already travel freely.