Acquisition of Turkish Citizenship through Real Estate Investment
Turkey’s Citizenship by Investment program, introduced in 2016 to attract foreign direct investment and boost the real estate sector, has undergone significant changes to make it more appealing to investors. The program offers various means for investors to contribute to the Turkish economy and gain Turkish citizenship. In this article, we will explore the program’s evolution, the benefits it offers, and why it has become an attractive option for foreign investors.
Requirements for Exceptional Acquisition:
To qualify for exceptional acquisition of Turkish citizenship through real estate investment, foreign nationals must fulfill specific criteria. They are required to purchase one or more properties in Turkey with a total minimum value of $400,000 or its equivalent. The property or properties must be verified by the Ministry of Environment and Urbanization. Additionally, an annotation of no sale for three years must be placed on the title deed registry, indicating that the property cannot be sold within the initial three years of acquisition.
Application Process:
Foreign nationals interested in obtaining Turkish citizenship through real estate investment must submit their applications to the relevant authorities. The application package typically includes the completed application form, the property title deed or deeds, a valuation report obtained from an authorized valuation company, a bank receipt demonstrating the transfer of the purchase amount to the seller, a valid residence permit, and a valid passport. The application is then evaluated by the Ministry of Interior and other pertinent institutions. If the application is approved, the applicant is issued a certificate of Turkish citizenship.
Benefits of Turkish Citizenship:
Acquiring Turkish citizenship through real estate investment provides individuals with numerous advantages. Citizenship grants them the right to live, work, and study in Turkey, as well as access to social security and healthcare services. Moreover, Turkish citizens can enjoy visa-free travel or obtain visa-on-arrival entry to a multitude of countries, opening up opportunities for business and leisure travel. Turkish citizenship is also hereditary, enabling individuals to pass on their citizenship to their descendants.
Enriching Benefits of Turkish Citizenship by Investment:
The Turkish Citizenship by Investment program provides a range of compelling benefits that make it an appealing opportunity for foreign investors. Let’s explore some of these fascinating advantages:
Living, Working, and Studying in Turkey:
Acquiring Turkish citizenship grants you and your family the freedom to live, work, and study in Turkey. You can generate income from your real estate property or explore rental opportunities. Moving with your family? You can rest assured about your children’s education, as the visa extends to the entire family, granting access to Turkey’s high-standard education system and lifestyle.
Quick Path to Citizenship:
The Turkish Citizenship by Investment program offers the fastest route to obtaining Turkish citizenship. After investing $400,000 in real estate, you can expect to receive your Turkish passport in less than four months from the date of application submission.
Family Reunification:
Applicants can bring their spouse, dependent children (under 18), and dependent parents to Turkey. Moreover, all family members can benefit from the country’s comprehensive healthcare system, ensuring their well-being and peace of mind.
Easy Schengen Visa and Global Mobility:
As a Turkish citizen, you can easily apply for a Schengen visa, minimizing travel restrictions within the Schengen Area. Additionally, Turkey has bilateral agreements with several countries, including Hong Kong, Singapore, Japan, Mexico, South Korea, and numerous Latin American nations, allowing visa-free travel for Turkish citizens.
Access to E-2 Visa in the US:
For individuals who cannot apply for an E-2 Visa through their original citizenship (such as Indian or Chinese citizens), obtaining Turkish citizenship presents an excellent opportunity. As a Turkish citizen, you can apply for an E-2 investor visa, granting you access to the United States market through your Turkish citizenship.
Dual Citizenship Rights:
Turkey allows dual citizenship, enabling you to retain your original nationality while acquiring a Turkish passport. This flexibility is particularly advantageous for investors with commitments in their home countries.
Profitable Investment Opportunities:
Unlike some other citizenship-by-investment programs, Turkey does not require a donation in exchange for citizenship. Instead, it offers diverse investment routes that hold great promise, allowing investors to benefit financially while securing their Turkish citizenship.
Visa-Free Travel to 110+ Countries:
Obtaining a Turkish passport provides visa-free access, visa-on-arrival, or Electronic Travel Authorization to approximately 110 countries worldwide, enhancing your global mobility and opening up opportunities for business and leisure travel.
The Role of a Turkish Lawyer:
Navigating the process of obtaining Turkish citizenship through property investment can be complex, requiring legal expertise and knowledge of the local regulations. Hiring a Turkish lawyer specializing in citizenship and property matters is crucial to ensure a smooth and successful application process. A Turkish lawyer will assist in understanding the legal requirements, preparing the necessary documentation, and guiding you through the entire process.
Conclusion:
Acquiring Turkish citizenship through property investment presents an exciting opportunity for foreign individuals looking to expand their horizons. With its favorable citizenship policies, vibrant real estate market, and a wide range of benefits, Turkey is an attractive destination for those seeking a second citizenship. By engaging a Turkish lawyer, you can navigate the process effectively and ensure compliance with the legal requirements, making your journey towards Turkish citizenship.
