Top nationalities to get Turkish citizenship by investment and trends
Thanks to its geostrategic position between the European and Asian borders, Turkey is an interesting country for most investors to consider. Whereas it has no limitations to the nationalities that can eventually call it home, there are top nationalities that are ready to grab its investment opportunities.
According to the Turkey Statistical Institute (TUIK), as of August 2019, Iraq was the leading country to tap into the Turkish investment program. Approximately 3,604 houses were sold to foreign investors and Iraq nationalities took up the biggest amount (at least 675 residential units).
So, how does one qualify?
Are you at least 18 years old and have never stayed illegally in Turkey? Are you willing to pay for taxes and costs that come with getting Turkey citizenship? Then, regardless of your nationality, you should be able to enjoy the country’s investment programs.
These were followed by Iran nationalities then by Russian Federation nationalities in the number of residential units purchased
Let’s have a look at the top 10 nationalities that took part in the Turkish investment program as of August 2019:
Other nationalities that showed interest in the investment program include Yemen, the USA, Azerbaijan, Egypt, Libya, Ukraine, Somalia, Qatar, Kazakhstan, and Palestine
Turkey is home to beautiful weather, gorgeous beaches, and embraces a vibrant lifestyle that attracts many a foreigner. Of special consideration are the major cities of Istanbul, Antalya, Bursa, and Ankara. Other provinces of interest for foreign investors are Yalova, Sakarya, Trabzon, Mugla, Aydin, and Izmir.
How does Turkish citizenship by Investment work?
The Turkish citizenship by investment program was launched in 2017 with an initial quote of at least $1 million in property investment in the country. Unfortunately, few were keen on this amount and so few foreigners invested in the program. However, with the revision to $250,000 in mid-2919, there was a spike in the number of investors to the countries, most especially from Iraq, Iran, and the Russian Federation.
With the required money at hand, the investors have to fulfill numerous requirements or present documents such as:
Holding Turkish citizenship comes with many benefits. Besides the freedom to live, work, or study in a cost-effective, vibrant country, you get to enjoy many business opportunities thanks to the Customs Union Agreement between the EU and Turkey.
Also, you get to enjoy visa-free travel to over 115 countries with your Turkish passport! And, to top it off, you get to enjoy dual citizenship in the country!
3 Ways to get Turkish Citizenship
In most countries, you become a citizen by simply being born into the country. Turkey is one of those countries. Besides getting Turkish Citizenship by birth, there are other ways to get it; we will take a look at three.
From the moment one is born in the country, they become its citizen. Not only that, if a child is born outside Turkey to a Turkish mother or father (within the unity of marriage) then he or she is also taken as a Turkish citizen. The same applies to a Turkish mother bearing a child with an alien father she is not married to. On the other hand, for a child born to a Turkish father and alien mother out of wedlock, the child will only become a citizen if their descent is proved.
You can get Turkish citizenship by simply staying in the country for at least five years. Your 5-year stay can be through a working visa or a student’s visa. If you get married to a Turkish citizen then you only need a 3-year residency to qualify for Turkish citizenship.
Through real estate
If you have the money, then becoming a Turkish citizen through real estate is the fastest way. All you need is to acquire property worth 250,000 USD to qualify. And, the good news is that it doesn’t have to be one property for that amount, it can be several properties that total the 250,000 USD.
It could be an office, housing, a store, or even an estate, as long as it amounts to the 250,000 USD.
Getting Turkish citizenship through real estate purchase comes with plenty of perks. Not only is it the fastest way to get your papers, but it also means that your family members will be granted temporary residence permits. Your spouse enjoys the right of becoming a Turkish citizen. And, if you have children under the age of 18 then they also get to become Turkish citizens by default.
Of course, property purchase may not be as straightforward as many may like. For example, according to the recent amendment to the law, property purchase is not valid if the sale agreement is registered on behalf of the company where the foreigner or his family is a manager or partner. It is also not valid if it is transferred to a Turkish citizen or company after 12.01.2017 by the foreigner who seeks citizenship.
It is also important to note that once the foreigner has acquired citizenship, the property used cannot be used again to acquire another citizenship.
With its breathtaking nature and relatively simple ways to acquire citizenship, Turkey speaks to many foreigners who wish to explore its fascinating beaches, embrace its bewitching climate (depending on the region), and check out its historical sites. If you are looking to become a part of Turkey through getting citizenship then you can get one through naturalization, by marriage, or by investing in real estate.
What is the process to get Turkish Citizenship by investment?
A lot has happened to Turkey in terms of its political stability, but it has weathered it all. Somehow, amid all the adverse effects that come with political instability, Turkey’s economy remains strong. Therefore, if you are flirting with the idea of getting Turkish Citizenship by investment, go ahead and do it. Turkey is the new investment hub for foreign investors; there is a wide investment pool to choose from. Whatever you want to put your money and energies in, it is here!
It is worth noting that Turkey has the easiest process to acquire its Citizenship across the world. It is a six-step process that is not as daunting as in other countries with hefty and nearly unrealistic demands. Here is what is required to get Turkish Citizenship by investment.
Advantages of acquiring Turkish citizenship through property investment.
Of all the ways you can acquire Turkish citizenship, why should you opt to do so via property investment? Well, above all else, this is by far the easiest and quickest way of becoming a Turkish citizen. As long as you complete a property purchase of $250,000 or more, you can apply to enjoy all of the benefits of Turkish citizenship.
The benefits of Turkish citizenship include:
The process of getting Turkish citizenship.
Applying for Turkish citizenship through investment in property is largely dependent on the availability of your funds. As you might expect, you need to begin by making at least $250,000 available to invest in property in Turkey. Here’s an overall guide to the process of applying for citizenship:
As you can see, although there are several steps and applications to be made to different government departments, providing your property purchase is transparent, and above board, you shouldn’t encounter any issues or delays with your application. Now that we’ve outlined the overall application process, we will answer some FAQs that will help you prepare for your application and ensure you have no unpleasant surprises along the way.
Here is a summary of the steps needed for Turkish citizenship
1. Purchase a property value at more than $250,000
Purchasing property a property is the 1st step to acquiring Turkish Citizenship by investment. You can use reputable real estate companies to search for a property of your taste. In making payment, deposit at least 10 percent of the total value of the house. Remember, the value of the house must be $250,000 on the minimum. By law, you have 30 days to clear the balance, after which a Title Deed for this is issued between 2 to 4 weeks. You must also acquire Earthquake Insurance for full compliance.
2. Present the application
With relevant documents from the purchase of the property, the second step is presenting your application. Attach the necessary documents showing you have purchased a property and complied with all regulations set. Attach a copy of the Title Deed, property valuation, and two receipts from your bank. One of the receipts should show a transaction in progress, while the other should show incoming status to the seller of the property. Also, present certified passports for you and your family if they are joining you.
An eligibility certificate is issued within seven working days if you present all these documents.
3. Apply for a Residence Permit
Present a dully-filled Residence Permit form together with an Eligibility Certificate. Attach original passports and other certified copies as requested, accompanied by biometric photos of all the applicants. An active insurance cover is also required. Wait for between 5-7 working days for the Residence Permit.
4. Submit Application to Civil Registrar
You need to present certified copies of your residence permit, Citizenship Application form, and certification that you’re divorced, single, married, or widowed. In case of divorce, your ex-spouse must certify so in writing. Ten biometric photos of all applicants and Birth Certificates should be presented.
5. Wait for approval
This may take between three to four months. While waiting, a national security probe on your application will be in play.
6. Get your Turkish citizenship documents
The relevant department notifies you of the application status. You then apply for a Turkish Passport and National Identity Card (ID). Fingerprint biometrics are taken for all the applicants in Turkey.
Isn’t it quite easy to obtain Turkish Citizenship by investment? It is. Turkey has a safe environment for your investment and has more potential for growth in the future.
Documents required to apply for Turkish citizenship
Before diving onto the documents required for applying for Turkish citizenship, it’s important to note that all government documents must be ratified by either the Ministry of Foreign Affairs of the country that’s issuing the documents or by the Turkish consulate or embassy within the country of origin. Ratification can also be done by the Turkish representative of the given country in Turkey.
The documents required are determined by how you wish to get the Turkish citizenship. The main focus here will be on getting citizenship through real estate purchase.
First off, it is important to note that if you are getting citizenship through real estate purchase then applications should be made to the Directorate of Land Registry to receive the certificate of conformity. The certificate of conformity is vital to determine that the property value is as required by law (250,000 USD) and that its status of ownership will not change in the next three years.
Other requirements include:
General application processes
Besides getting citizenship through real estate, you can also get it through naturalization, by joining the bank deposit program, or by marriage. The documents required vary depending on your circumstances.
Generally speaking, you will need your passport, birth certificate, marriage certificate, residence permit, photographs, and the Turkish identity number of relatives. You may also be required to attend an interview in Turkish and so learning the language beforehand is important.
If you are obtaining the citizenship through the Bank deposit program then you have to the Banking Regulatory Authority to get a certificate of conformity that indicates that 500.000 USD or its equivalent has been deposited in a bank that operate in Turkey. There should also be an acknowledgment that the funds won’t be withdrawn for here years.
How to Choose The Property for Citizenship by Investment in Turkey
When someone relocates to a country such as Turkey, they must first find work. When this job booms and becomes profitable and successful, immigration to Turkey will be the next big thing. This is due to the fact that you now have a career to work on. Following that, the next big step is to invest in Turkey, as it will become your new home.
But wait, did you know that you can become a Turkish citizen in an instant by simply purchasing property in the country?
You certainly can. In fact, it is one of the six most straightforward ways to obtain Turkish citizenship. So, how do you decide which property to purchase or invest in?
As a foreigner, you need reasons why you would want to invest in Turkey; well, here are some of those reasons:
These factors make foreigners feel right at home, thus consider immigration to Turkey as an option to take. So here is how you settle on a property to buy.
Do extensive research
This is the golden rule when it comes to owning any property. And since the real estate sector in the country has massively grown over the years, you want to root the real dealers and the fakes. You start by looking into the locations that best suits you, your budget, the expected lifestyle, and the weather. You want to make a sound decision, and research will be the guiding light to gain Turkish nationality by investment.
Get an experienced agent.
Most of the research might be carried out while you are in your home country, but you need someone on-ground to help you assess the properties and confirm their legitimacy. Carry out a thorough vetting on potential agents and narrow it down to one that understands you best. Getting the best is the most promising way to gain Turkish nationality by investment.
Once you settle on one, become good friends, as they will be with you every step of the way.
It is rather weird wanting to gain immigration to Turkey and even invest there if you have never visited the country. That said, before making any commitments in buying property, visit the country and confirm the greatness Turkey is.
A trip before investing in Turkey and right before buying a property is crucial. If the agent has already decided on one for you, arrange another journey and access the property for yourself. This is why it is good to have options to select the best to invest in Turkey.
Negotiate the price and payments
After viewing your potential Turkey home, you finalize the price negotiations with your agent and the company they represent before closing the deal. The prices of the chosen properties are compared to your budget, and both parties reach an agreeable amount and set the best transfer mode of payment.
Finally, the property is reserved, and its price is frozen in that it is not in the market for sale anymore!
To get the property, you must get a solicitor who will complete the purchase for you. And now, you are almost there to gain Turkish nationality by investment.
In a month or so, you will be a Turkish citizen with a title deed to enjoy what Turkey has to offer fully!
The Republic of Turkey pursuits’ buyers as a result of it connects the two continents of Europe and Asia that facilitate overseas nationals to immerse in wealthy cultural heritage, explore historic background, and enjoy the variety of nature in a single country. Turkey’s constant financial development, stability, and engaging tourist locations invite property investors, and consistent infrastructural development affords a possibility for excellent Return on funding (ROI).
Also, Turkey is a member of the UN, NATO, the IMF, the World Financial institution, the G-20, and member of the European Customs Union since 1995 that lures buyers for Turkey investment immigration and getting a second passport for this country as the most effective investment opportunity. Benefit from the triple benefit of accelerating your world mobility, enterprise and tax exemptions, and connectivity with key markets proudly owning property here.
Launched in January 2017, investor citizenship program i.e., Turkey CPI, was an try by the Turkish authorities to invite overseas direct funding to boost the nation’s real property sector.Below the Turkey Citizenship-By-Funding Program, anybody who invests at the very least USD 250,000 in Turkish real estate can acquire Turkish citizenship automatically.
Curios about learn how to obtain Turkish citizenship by means of different funding program? Listed here are the opposite gateways to Turkey’s investors golden visa and citizenship. Fixed-asset funding listed by the Ministry of Trade and Know-how . $500,000 deposit for a minimum 3 years in a Turkish bank. Investment for three years in Authorities bonds with the potential to receive interest as income.Establishing a enterprise in Turkey and creating jobs alternative for a minimum of 50 Turkish staff, confirmed by the Ministry of Labour and Social Security. However, property investment seems like the most secure and the best bet.
As one of many fastest routes to Turkey citizenship, investing in Turkey real estate assist getting a second passport within three months. Nevertheless, Turkey citizenship is granted after 3-6 months; solely after the applicant’s investment process is completed. Additionally, the applicant must hold the investment for at least 3 years.
There is no declaration obligation of the investor’s property or earnings that they personal in different nations because the citizenship acquisition utility process is sort of easy in Turkey. Additionally, there isn't any want for physical presence of investor in Turkey for the property acquisition.
Suppose you've made up your thoughts to buy property in Turkey as your second residence alternative or as an investment choice with a excessive ROI perspective; in that case, there are quite a lot of fashionable residences and luxurious seafront villa choices accessible at extremely aggressive prices. Not only can you earn good-looking passive rental income but also, after three years, you may re-promote the property at increased rates.
This Turkish citizenship by property funding program is among the simplified routes for relocating to both the UK and the US below respective visa categories supplied by the nations for Turkish nationals.
Fast citizenship software processing whereby the passport is expected inside ninety days of applying. Choice of shopping for one or a number of Turkish Real Estate Advisors properties with the minimal complete worth of $250,000. An investor can purchase residential or commercial property as they've the fitting to acquire several properties here.
Complete household is eligible for citizenship with the funding in the property, including spouses, youngsters beneath 18 years, and disabled children of any age. There isn't any want for residing at the property earlier than or after acquiring the citizenship as the whole process could be remotely managed.
Turkey citizenship through funding comes with the good thing about visa-free journey or visa arrival access to 110 international locations globally, together with Singapore, Japan, Qatar, and South Korea. Turkey provides a very protected and safe private atmosphere for traders with over 700,000 ex-pats and 60,000 international companies working within the nation. The citizenship acquired by investment is legitimate for a lifetime and is transferable to descendants.Turkey allows holding dual citizenship; this means you don’t must give up citizenship of your homeland country to get second citizenship of Turkey.
Turkish Citizenship by Investment provides second passport for investors who would like to become a Turkish citizen by property investment of $250,000 or more. Turkish golden visa and citizenship program is one of the fastest in Europe and Turkish passport is one of the best passports in the world. If you would like to learn how to become a Turkish citizen, contact Turkish Citizenship by Investment today.