The Golden Visa: Turkey Citizenship by Investment Program
Do you want to become a Turkish citizen? If yes, why don’t you get Turkey investment citizenship, which is known as a golden visa for this nation? The process for obtaining this type of visa is not very complicated. However, it also requires you to meet certain requirements imposed by the Turkish Government. If you want to learn more about it, let’s delve into this article at E-vissa.com, in which much valuable information is waiting for you to discover!
WHO NEEDS TURKEY INVESTMENT CITIZENSHIP?
An announcement regarding Turkey citizenship by investment was made in 2016. The Turkish Government started the scheme to boost foreign direct investment in the country's real estate market late in January 2017. The investors are permitted to select from among the many ways they wish to support the Turkish economy under this investment program.
The application process for Turkey citizenship by investment program is simple and involves no language requirements, no mandated stay, and no duty to reveal assets or income. The main requirements for applicants are to acquire real estate in Turkey, finish the paperwork in three months, and relocate to Turkey with their family. After three years, investors can also resell the property with a significant potential return on investment.
Nowadays, Turkey receives $250 million on average each month from its solely international investors. Nevertheless, the minimum cost has increased from $250,000 to $400,000 in response to the growing number of applicants eager to obtain Turkey investment citizenship.
The application process for Turkey citizenship by investment program is simple and involves many benefits
Moreover, investment citizenship in Turkey is only granted to those who meet the criteria below:
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Age: Applicants have to be at least 18 years old.
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Legal stay: Applicants must have lived in Turkey lawfully for a duration specified by the program. Applicants must stay legally in Turkey. This implies that applications for investment citizenship will surely be rejected if any illegal overstay in the nation exists.
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Payment for taxes and fees: Taxes and fees for the application process must be paid.
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Clear criminal record: No prior convictions or active criminal cases should be present in the applicant's clean criminal record.
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Health insurance: Having sufficient health insurance is a requirement for gaining Turkey citizenship by investment. Applicants need to show proof of health insurance that satisfies the prerequisites of the program.
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Eligible nationality: It is essential that your nationality does not belong to blacklisted countries ruled by the Turkey Government, including Armenia, Cuba, Syria, Nigeria, and North Korea.
WHAT SHOULD YOU LEARN ABOUT THE GOLDEN VISA—TURKEY INVESTMENT CITIZENSHIP?
Actually, the Turkey golden visa, also known as Turkey citizenship by investment, is truly a type of visa that you must have if you want to become a Turkish citizen and gain a Turkish passport. There are many benefits if you have a chance to obtain this golden visa for Turkey. Here is a list of some benefits that you must take note of:
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The fastest way to get Turkish citizenship is by investing in Turkey. You are eligible to receive your Turkish passport within fewer than four months of submitting your application, provided you invest $400,000 in real estate.
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Dependents, such as parents, children under 18, and spouses, are permitted to accompany applicants for Turkey investment citizenship. In addition, just like the Turkish residents, all the members have free access to healthcare services.
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Furthermore, you can be ready to prepare everything needed beforehand and then get it, even if you do not speak the native Turkish language. In fact, unlike other investment schemes, getting Turkey citizenship through investing does not require any prior understanding of the Turkish language.
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You can obtain a Turkish passport without giving up your nationality because dual citizenship is permitted in Turkey. For numerous investors who have obligations in their native nation, this can be considered a tremendous benefit.
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Besides, Turkey is situated between Europe and Asia. This geographic location of the country is also one of the advantages for developing the economy and attracting foreign investment. Therefore, it can be regarded as an economically strategic nation. Furthermore, Turkey boasts an abundance of historical and cultural landmarks, attracting several tourists to visit this stunning and captivating nation.
Turkey boasts an abundance of historical and cultural landmarks, attracting several tourists to visit this stunning and captivating nation
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After becoming a holder of a Turkish passport, you will be able to visit about 110 countries around the world without a visa or an ETA (Electronic Travel Authorization).
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It is very straightforward for holders of Turkey citizenship to apply for a Schengen visa, provided they submit the necessary documentation. In addition, a lot of other nations have bilateral arrangements with the nation that permit travel without a visa. Hong Kong, Singapore, Japan, South Korea, Mexico, and nearly all of Latin America are among them.
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For individuals from countries like India and China (mainland) who are unable to apply for an E2 visa by using their native citizenship, obtaining Turkey citizenship by investment program is an excellent chance. In fact, citizens of nations with trade agreements with the United States are eligible to apply for E2 visas. As a result, Turkish nationals are qualified. This means that if you possess Turkish citizenship by investment, you can apply for an E-2 investor visa easily.
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In contrast to certain other citizenship-by-investment schemes, Turkey does not demand donations in order to grant citizenship. Instead, it provides a variety of extremely attractive investment avenues and options.
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The citizenship by investment program in Turkey provides a real estate pathway for those seeking to get a visa for permanent residence. Those who invest in Turkish real estate can obtain a legal resident permit, giving them official status within the nation. With this option, investors can create a safe and flexible approach to show their presence in Turkey.
There are many benefits if you have a chance to obtain this golden visa for Turkey
Besides, in this article, we also reveal some other aspects of this type of Turkey visa with the aim of assisting you in comprehending it completely:
How many types of investments can international investors choose to obtain Turkey investment citizenship?
The citizenship by investment program of Turkey provides a wide range of investment opportunities. In fact, you can choose one of the following types to invest in Turkey and gain eligibility for Turkey citizenship:
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Turkey citizenship by real estate acquisition
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Turkey citizenship by bank deposit
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Turkey citizenship by government bonds
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Turkey citizenship by job creation
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Turkey citizenship by capital investment
We will explain these investment types in detail and emphasize their advantages in the table below:
|
Investment types |
Description |
|---|---|
|
Turkey citizenship by real estate acquisition |
Buying real estate is one of the most cost-effective ways to get Turkish citizenship by investment program. This option requires investors to either invest the same amount in land acquisition or buy real estate with a minimum worth of $400,000. The program gives investors flexibility by allowing them to invest in several properties. In addition, it is not necessary for investors to live on the property they have purchased. They simply need to keep ownership of their property for three years before they may sell it. |
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Turkey citizenship by bank deposit |
A minimum of $500,000 can be deposited by investors into a Turkish bank account. Additionally, the amount of deposited money must be kept there for three years. US dollars, another comparable foreign currency, or even Turkish lira may be used to make the deposit. With this option, investors can become eligible for Turkey citizenship and make a contribution to the Turkish financial system. |
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Turkey citizenship by government bonds |
Investing in government bonds with a minimum contribution of $500,000 is another option that international investors can choose. The investment can be made in US dollars, another comparable foreign currency, or even Turkish lira. Investors can not only meet the prerequisites for Turkey citizenship by investment program but also contribute to the nation's infrastructure and economic growth through the purchase of government bonds. |
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Turkey citizenship by job creation |
According to the Ministry of Family, Labor, and Social Services, establishing full-time jobs for fifty or more individuals is a prerequisite for taking the alternative pathway to obtain Turkish citizenship by investment program. Investors can support the labor market and economic growth of Turkey while simultaneously meeting the requirements for Turkish citizenship by starting a business that creates employment opportunities for Turkish residents. |
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Turkey citizenship by capital investment |
A minimum capital contribution of $500,000 can be made by investors into venture capital or real estate investment fund shares. US dollars, another comparable foreign currency, or even Turkish lira may be used to make this investment. In addition to providing investors with the opportunity to diversify their assets and get Turkey citizenship, these investments assist Turkey in promoting the growth of the economy. |
The citizenship by investment program of Turkey provides a wide range of investment types
Duration of Turkey’s immigration by investment
In fact, you can remain in Turkey for as long as you like, either before or after completing your application for citizenship by investment program in this nation.
Besides, it is not necessary to wait three years to become a citizen of Turkey. You are qualified to apply for Turkey investment citizenship as soon as you make a real estate investment. However, you have three years to sell the property. Even if you sell your property after the required three-year holding term, you will still be considered a resident of Turkey.
What prerequisites for documents do you need to meet to obtain Turkey investment citizenship?
Like other types of Turkey visas, Turkey investment citizenship also requires you to prepare all the necessary documentation. The list of these documents is also compiled as follows:
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Valid passport: You must provide the passports of all your family members in the event that you are applying as a family.
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Turkish tax number:. Opening a bank account and applying for citizenship in Turkey requires you to get a tax number from a local tax office.
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Proof of legal stay: You need to prove that you have never entered Turkey illegally by submitting relevant evidence.
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Police clearance certificate: A certificate demonstrating you have no criminal history is required from the police authorities in your nation. Any family members applying with you must also comply with this.
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Evidence of investment: You should submit the required paperwork and certifications to demonstrate that you have made or are committed to making your investment, depending on the type of investment.
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Birth certificate: You need to submit all the birth certificates, including yours and your accompanying members’ ones.
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Passport-sized photos: You need to submit passport-sized photos, including yours and your accompanying members’ ones. The photos must have been taken for at least six months. The photos must fulfill the following requirements:
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The photos must adhere to the requirements for standard photos ruled by the Turkey Government.
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At least 80% of the photos must feature the applicant's face. Also, the applicant has to maintain a neutral expression while staring directly into the camera.
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Wearing any accessories that could cover up the applicant’s eyes, face, or hair is inappropriate. Colored contact lenses are not allowed since they can alter the color of the eyes.
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Certificate of marriage: You must provide a current marriage certificate if you are married.
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Certificate of divorce: A divorce certificate must be submitted if you are in divorce status.
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Certificate of death: In the event that you are widowed, a death certificate must be submitted.
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Health insurance: You and your family members must get health insurance that is accepted in Turkey.
In addition to the aforementioned documents, you must prepare other ones if a certain Turkish authority requests them.
Turkey investment citizenship requires you to prepare all the necessary documentation
How can you get Turkey citizenship by investment?
If you want to become a Turkish resident, you must fully comprehend the process of applying for a golden visa. Here are step-by-step instructions to gain eligibility for citizenship in Turkey:
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Step 1: Choose a suitable type of investment
Choosing your ideal investment type is a vital first step on the pathway to becoming a Turkish citizen. Real estate investments, capital investments, and financial contributions are among the possible alternatives. Every type has its own advantages and requirements. It is crucial to remember that you must first get a Certificate of Eligibility if you want to apply for this golden visa.
Depending on the type of investment, you will need to apply for a Certificate of Eligibility from the competent authorities. Here is a list of some institutions to which you can choose to apply:
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Investment type |
Institutions |
|---|---|
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Turkey citizenship by real estate acquisition |
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Turkey citizenship by bank deposit |
Department of Financial Consumer Relations (the Banking Regulation and Supervision Agency) |
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Turkey citizenship by government bonds |
The Turkish Ministry of Treasury and Finance |
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Turkey citizenship by job creation |
General Directorate of International Labor (the Ministry of Family, Labor, and Social Services) |
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Turkey citizenship by capital investment |
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Choosing your ideal investment type is a vital first step on the pathway to becoming a Turkish citizen
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Step 2: Prepare all required paperwork
You must obtain the required paperwork in order to submit a successful application for Turkey citizenship by investment. It is important to get guidance from an immigration lawyer or a reputable consulting business that specializes in Turkey citizenship applications, as this process will perhaps be intricate. They are able to assist you in meeting the requirements for documentation and making sure your paperwork preparation is in order.
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Step 3: Finalize your investment and acquire a residence permit
To obtain citizenship in Turkey, you must first establish legal residency there. In fact, getting a residence permit is not too difficult. A residency permit will be issued to you automatically as soon as you satisfy the minimum investment criteria and present the required documentation. Beneficially, you do not have to live in Turkey in order to obtain a residency card, nor do you have to stay there when you have one.
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Step 4: Submit your application for Turkey investment citizenship
You can apply for citizenship with the Provincial Directorate of Census and Citizenship after receiving your residence permit. You had better make sure all necessary paperwork is correctly filled out and submitted with your application. It is unnecessary for you to appear in person for an interview or to be in Turkey while your application is being processed, in contrast to certain citizenship procedures in some other countries.
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Step 5: Get your Turkish passport
You will need to await your Turkish passport and citizenship for a fair amount of time after filing your application. After your application is submitted, the processing time usually takes three to four months. After being accepted, you will be given Turkish citizenship and a ten-year Turkish passport.
You will need to await your Turkish passport and citizenship for a fair amount of time after filing your application
Note:
It is noteworthy that the Turkish Government may adjust the requirements and processes. For the most recent information, it is advised that you ask for assistance from an immigration specialist or official government sources.
How long is Turkey immigration by investment processed?
The process of finalizing your investment might take an additional three to four months, but overall, it is still a rather rapid one. Moreover, it is a great citizenship program since you do not need to reside in Turkey for any length of time in order to get a passport. After making your investment, you can obtain Turkey investment citizenship along with a Turkish passport three to six months later.
How much does Turkey investment citizenship cost?
To obtain Turkey citizenship by investment program, you must make a payment for all the fees. In fact, you have to pay various fees, including:
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Types of fees |
Fees for Turkey investment citizenship |
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|---|---|---|
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Application entry cost |
Notary and translation fees: Certain documents must be translated and notarized in order to register for Turkey citizenship. The costs incurred during this process are covered by the notary and translation fees. |
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Application fee: Applying for a golden visa requires an application fee. This cost must be paid during the application process and cannot be refunded. |
USD 400 |
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Healthcare coverage: To gain eligibility for this type of visa, you must have health insurance for the duration of your stay in Turkey. It can be said that one of the most important aspects of the fee for a golden visa is health insurance. |
USD 700 |
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Due diligence fee: Turkey does not charge an additional due diligence fee for the golden visa program, in contrast to the citizenship schemes of certain other nations. This spares candidates from paying an extra fee. |
No fee |
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Turkish passport fee: After gaining Turkey citizenship, you can submit an application for a Turkish passport. |
USD 500 |
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Property transaction fees for real estate investment |
Investment in residential or commercial real estate |
A minimum investment of USD 400,000 in residential or commercial real estate is required for you to qualify for Turkey citizenship by real estate investment. |
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Land registry fee and stamp duty |
Applicants must pay stamp duty and a land registry fee when purchasing a property. The precise amount varies from 4% to 6% of the property's worth. |
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Legal fees |
The process of acquiring property involves paying legal fees. Typically, these fees account for 1% of the purchase price of the property, plus an additional 18% in value-added tax (VAT). |
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Title deed transfer |
4% of the purchase price is charged as a fee during the title deed transfer of the property. This cost is split evenly between the seller and the buyer. |
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VAT (value-added tax) |
Turkey's VAT rates currently vary from 1% to 18%. You have the option to request a VAT exemption, which can drastically lower the total cost of purchasing a property. |
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Besides the fees for obtaining citizenship by investment, you should consider the tax regulations in Turkey. Even though Turkey provides foreign investors with alluring tax incentives, there are some levies that need to be considered. These include:
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Taxes |
Description |
|---|---|
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Income tax on foreign income |
Income from overseas sources is not subject to taxation in Turkey. This implies that you are not obliged to pay taxes on any income you get from sources outside of Turkey. |
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Income tax on income within Turkey |
Income tax is imposed on all money earned inside the borders of Turkey. The tax rate varies according to the income level, with a maximum of 35%. |
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Real estate ownership tax |
In Turkey, there is an annual real estate ownership tax that property owners must pay. The precise tax amount is determined by the location and value of the property. It is best to consult a Turkish tax expert to fully comprehend the precise tax ramifications of property ownership. |
It is noteworthy that the fees and taxes can vary depending on the rules of the Turkish Government. Thus, it is necessary for you to update the latest information about fees and taxes for Turkey citizenship by investment program.
It is noteworthy that the fees and taxes can vary depending on the rules of the Turkish Government
Is it possible for you to extend Turkey citizenship by investment?
There is not too much information about the extension of Turkey citizenship by investment. However, this program will definitely increase the chances of being eligible for a permanent residency permit in Turkey. After the validity period, you can also apply for a permanent residence in Turkey if you want to become a Turkey permanent resident.
If you want to learn more about how to extend Turkey investment citizenship, you can consult with an immigration specialist or official government sources.
CAN YOU GET TURKEY CITIZENSHIP BY INVESTMENT PROGRAM ONLINE?
Information regarding the online application for the Turkey citizenship by investment program is currently scarce due to the intricacies involved in the process. Therefore, it is advised that you apply for a golden visa in person at a competent Turkish authority if you plan to become a permanent resident in this nation.
If you want to become a Turkish citizen through an investment program but are confused about the process of applying for a visa, there are other consulting sources available to you.
To be honest, it is not simple for you to follow every step of the application process without encountering any difficulties in order to obtain citizenship by investment. Therefore, you had better seek advice and support from a few reliable sources. This could be an additional way for you not only to learn more about this type of visa but also to get efficient assistance from these sources to address issues that you are having.
It is advised that you apply for a golden visa in person at a competent Turkish authority if you plan to become a permanent resident in this nation
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In conclusion, if you wish to become a Turkish citizen, you should comprehend all the pertinent details about Turkey investment citizenship, including the eligibility, requirements, types of investment, process, etc. Actually, obtaining this golden visa should not be that tough for you to accomplish if you adhere to all of the thorough guidelines in this post.
We sincerely hope that our useful information will assist you in your pathway to becoming a citizen of this stunning country. Please contact us at [email protected] if you have any inquiries or encounter any unanticipated difficulties. We pledge to give you the greatest support and help you address any issues that might have an impact on the result of your application.
