With the recent legislative changes, the Republic of Turkey has started granting Turkish citizenship to people investing in Turkey without a minimum residency requirement.
The opportunity for citizenship has become even more attractive as the minimum investments have been further reduced in 2018 and the whole process usually takes less than 2 months.
Turkish citizenship offers the following possibilities to holders:
• Right of permanent residence
• Permanent work and investment opportunities in Turkey without any limitation
• Traveling without a visa in many countries
• Simple and quick assessment procedure for visa applications in many countries
• All international incentives granted to Turkish citizens under bilateral or multilateral agreements.
Terms of the request
- Make investments in Turkey in one of the approved types
- Obtaining the certificate of approval
- Application for a residence permit
- Application for citizenship
Investment type and minimum conditions
• Real estate: USD 250,000 or equivalent in foreign currency or TRY.
• Turkish bank deposit account: USD 500,000 or equivalent in foreign currency or TRY.
• Approved government debt securities: USD 500,000 or equivalent in foreign currency or TRY.
• Share of interest in a real estate investment fund or approved venture capital fund: USD 500,000 or equivalent in foreign currency or TRY
Investment in companies By Investment
• Employing a minimum number of employees: 50 employees.
• With minimum paid-up capital: USD 500,000 or equivalent in foreign currency or TRY.
The recent move by the Turkish government to facilitate the conditions required of foreign investors wishing to acquire its nationality appears to have aroused the interest of investors, especially Arab investors in turkey.
This interest indicates that in the eyes of many investors, Turkey remains a “safe haven”. Current statistics – on applications for Turkish citizenship through investment and real estate sales – look very promising. So we may see a boom in the sale of real estate to foreigners in 2019.