As ASY LEGAL, we are consulting our clients since 2017 when the Turkish Citizenship by Investment Program was first introduced.
Our firm boasts extensive experience and a proven track record in Turkish immigration and citizenship by investment practice, ensuring that our clients from all around the world receive expert turn-key service and seamless assistance throughout their journey towards obtaining Turkish citizenship through investment. Below you can find the list of frequently asked questions by our clients and their answers.
Turkish Citizenship by Investment: Answers to Top 23 Questions
1. What is the minimum necessary investment needed to become a citizen of Turkey?
Since the last update as of 13th of June 2022, a minimum investment of USD 400,000 in a real estate purchase is needed to be eligible for Turkish citizenship by investment. This sum, however, may change based on the investment option selected.
2. Which types of investments are acceptable for Turkish citizenship?
The Turkish government provides a number of ways to invest in order to become a citizen, including:
- Real estate investment of minimum USD 400,000
- Depositing minimum USD 500,000 in Turkish banks for a fixed amount of time is known as a bank deposit.
- Depositing minimum USD 500,000 in fixed capital investment
- Starting a Turkish company and hiring 50 Turkish citizens
- Government Bonds and Treasury Bills worth minimum USD 500,000
Although there are multiple ways of obtaining the Turkish citizenship via investment, in practice real estate and bank deposit options are the most used ones
3. How does the application procedure work?
The following steps are often included in the process:
- When selecting an investment, make sure it satisfies the minimum investment criteria.
- Create the required paperwork, such as investment documentation, financial records, and personal identification papers.
- Submit the application to the appropriate agencies, such as the General Directorate of Land Registry and Cadastre or the Interior Ministry.
- The administration will look over the application and do a background check on the applicant.
- If the application is accepted, the applicant will receive Turkish citizenship and be able to apply for a Turkish passport.
4. How long does it normally take to become a citizen of Turkey through investment?
Turkish citizenship by investment processing times might vary based on the type of investment, the degree of application completion, and the workload of the authorities. Although specific time frames can vary, an application to be finalized takes around 4-6 months.
5. Can I include family members in my citizenship application?
Families can be included in a citizenship application, including spouses and dependent children under the age of 18 years old. It is necessary to provide confirmation of family ties and/or extra documentation in order for them to be included.
6. Is there a minimum amount of time applicants must spend in Turkey
Citizenship applications may be submitted from overseas by giving a lawyer or a consultant a Power of Attorney. There is no minimum stay requirement for citizenship by investment applications as of August 2023. The citizenship can be obtained without even entering Turkey.
7. Are there any limitations or requirements when it comes to selling investment property after becoming a citizen?
Citizenship applications may be submitted from overseas by giving a lawyer or a consultant a Power of Attorney. There is no minimum stay requirement for citizenship by investment applications as of August 2023. The citizenship can be obtained without even entering Turkey.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.