How to obtain Turkish citizenship by investment

Turkish citizenship by investment

There are many ways to obtain Turkish citizenship. One of them is obtaining Turkish citizenship by investment through specific conditions stipulated in the new Turkish naturalization law. And many other ways which we will discuss in this article from Extra Property.

What will be discussed in this article: 

1- Obtaining Turkish citizenship by investment. 

2- Conditions for obtaining Turkish citizenship by investment. 

3- The required documents for obtaining Turkish citizenship by investment.

4- Obtaining Turkish citizenship by depositing money into a Turkish bank.

5- Conditions of obtaining Turkish citizenship by depositing money into a Turkish bank.

6- Obtaining Turkish citizenship by employing Turkish citizens. 

7- The required documents for obtaining Turkish citizenship by employing Turkish citizens.  

Obtaining Turkish citizenship by investment

Due to the escalation in the number of investors choosing Turkey for residence and investment, the real estate sector has become one of the most important sectors that the Turkish government pays special attention to. The Turkish government seeks to provide many benefits that can attract more investors to bring high financial flows in hard currency to Turkey.

Among the most prominent steps taken by the Turkish government in this context was the Turkish citizenship by investment law, which allowed anyone who owns a property, or several real estates in Turkey, with a value of one million US dollars, to obtain Turkish citizenship.

Then, several amendments were issued to this decision. The last version of the law says that those who own real estate in Turkey worth 250,000 US dollars are allowed to apply for Turkish citizenship with their family members, including a wife and children under 18.

Conditions for obtaining Turkish citizenship by investment

  1. The value of the property is more than 250 thousand US dollars.
  2. That the property is purchased from a Turkish citizen, or a Turkish legal entity, such as Turkish construction companies.
  3. Keeping the property for 3 years, with a pledge not to sell it before the expiration of this period.

This decision applies to most nationalities, except for a limited number of nationalities that are not allowed to own property in Turkey. 

The required documents for obtaining Turkish citizenship by investment

When you want to apply for Turkish citizenship through investing in real estate in Turkey, some documents should be submitted. You can find them mentioned below: 

First – supporting documents

For the applicant, his wife and children under the age of 18 years, namely:

  1. Marriage contract.
  2. Original passports.
  3. Birth certificate or birth declaration for each individual.
  4. A family statement (or family book – family card).
  5. 4 personal photos for each individual.
  6. Legalization of documents from the source country.
  7. The translation of the identity documents into the Turkish language, and their certification by the notary public in Turkey (Notre).

Second – The title deed of the real estate (Tabu)

It is also possible to submit the title deed of a real estate that is still under construction. It is called a “Floor easement” and usually issued by the construction contractor to obtain funding for the project.

Third – A valid property value appraisal report

It can be obtained through one of the real estate appraisal institutions approved by the Turkish government.

Fourth – Payment receipts

Receipts of payment should be presented from the buyer’s account, sealed by the sending bank.

Fifth – Receipts for receiving money

Receipts must also be presented in the seller’s account, stamped by the receiving bank.

Note: The approval of applications for obtaining Turkish citizenship by investment takes place usually in a quick time, within an average of 90 days.

Obtaining Turkish citizenship by depositing money into a Turkish bank

The new Turkish naturalization law recognized the right to apply for Turkish citizenship by depositing 500 thousand US dollars or more in a Turkish bank. But the money should be kept for three years as a minimum.

During the deposit period, it is possible to benefit from investing your deposit, if it is in an Islamic bank, for example.

Conditions of obtaining Turkish citizenship by depositing money into a Turkish bank

Some documents are required to be submitted when applying for Turkish citizenship by depositing money into a Turkish bank. You can find them as follows: 

  1. The personal documents of the applicant for naturalization, his wife and children under the age of 18, translated to the Turkish language.
  2. Open a bank account in a Turkish bank, and provide an account statement for the amount of the conditional deposit of $ 500,000 or more.
  3. A reservation statement for the amount deposited for at least 3 years.

Obtaining Turkish citizenship by employing Turkish citizens

Article 12 of Law No. 5901 states that the owners of companies operating in Turkey can obtain Turkish citizenship, provided that 50 Turkish citizens are employed, taking into account the following conditions:

  1. That the company employs 50 Turkish citizens as a minimum.
  2. The company’s headquarters should be in Turkey.
  3. Paying the fees for social security, social and health insurance for employees on an ongoing basis, especially during the last 6 months before applying for naturalization.

The required documents for obtaining Turkish citizenship by employing Turkish citizens

Business owners wishing to obtain Turkish citizenship in exchange for employing a number of Turkish citizens are required to submit several mandatory documents as follows:

  1. The identity documents of the owner of the company, his wife and children under the age of 18 years, translated and certified by Notre.
  2. A commercial registry from one of the Turkish Chambers of Commerce, with a document proving the employment of at least 50 Turkish employees.
  3. Prove that the facility has no debts to the Turkish Tax Department.
  4. A statement of the names of the employees registered in Social Security.
  5. Prove that the company has no debts to the Social Security Institution.
  6. A clearance from the company confirming that there are no financial penalties incurred by it.

In this article, we tried to fulfil and present the most prominent conditions for obtaining Turkish citizenship through real estate investment and other investments suitable for naturalization in Turkey.

You can ask for more details about all the previous information. Extra Property’s team will be happy to answer and assist you in all necessary procedures before, during, and after purchasing real estate in Turkey with all reliability and safety.

Edited by: Extra Property ©

Source: Turk Press

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