Türkiye is a
major transcontinental country strategically positioned and bordered by three
seas. A popular tourist destination, Türkiye’s location facilitates
connectivity with key markets via excellent transport links. Although Ankara is
its capital, the leading global city of Istanbul is Türkiye’s largest and is
its main commercial and cultural center.
Benefits of the Türkiye Citizenship by Investment Program
Türkiye Citizenship by Investment
The Türkiye
Citizenship by Investment Program (previously named the Turkey Citizenship by
Investment Program) was launched in January 2017 to attract foreign direct
investment to and boost growth in the country’s real estate sector. The program
allows applicants to choose from a number of different types of economic
contributions to Turkish society, thereby developing the country’s economy.
With the city of Istanbul embracing Europe and Asia on the Bosphorus Strait, Türkiye is a transcontinental Eurasian country. Its location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance.
Requirements of Türkiye citizenship by investment
To qualify for
citizenship, the main applicant should fulfill one of the following investment
requirements:
Acquire at least USD 400,000 worth of real estate
·
Invest a minimum of USD 500,000
fixed capital contribution
·
Deposit at least USD 500,000 or
equivalent foreign currency or Turkish lira into a Turkish bank account
·
Commit at least USD 500,000 or
equivalent foreign currency or Turkish lira into government bonds
·
Commit at least USD 500,000 or
equivalent foreign currency or Turkish lira into real estate investment fund
share or venture capital investment fund share
·
Commit at least USD 500,000 or
equivalent foreign currency or Turkish lira into a private pension system for a
minimum holding period of three years
·
Create jobs for at least 50
people, as attested by the Ministry of Family, Labour and Social Services
The main
applicant may include their spouse, dependent children below the age of 18, and
children of any age who are living with disabilities in their application.
Procedures and time frame of the Türkiye Citizenship
by Investment Program
After applicants
have chosen the qualifying investment option, a residence permit application
shall be made on the family’s behalf. The main applicant is then required to
open a bank account in Türkiye.
Once all
application documents have been prepared (including applicable certifications
and translations), the investment can be completed and the documents submitted
to the government. Once the application has been received by the government,
the review process will begin and an interview may be requested. Applications
are typically approved within 120 days, following which the citizenship
documents are issued. The passport application can then be submitted.
Please note that
Turkish gift and inheritance taxes apply to worldwide assets held by Turkish
citizens. We recommend that you seek appropriate professional advice in this
regard.
Piptan International Inc. is dedicated to assisting individuals and families in becoming Global Citizens by investing in second residency and citizenship options worldwide.