By investing such amounts in Turkey, you can become a citizen of Turkey shortly within 3 months only after completion of investment. The Regulation Regarding Application of Turkish Citizenship Code was recently amended on 18th September 2018. The cultural and socioeconomic implications of that on your life shouldn’t be many. Azerbaijan, Belarus, Kazakhstan, and also from African nations: Nigeria, Ivory Coast, South Africa and other jurisdictions. Let’s talk about how you can achieve it in practical terms. Outsource some of the labor to a cheaper country. If you prefer not to get tied up in real estate or setting up a boots-on-the-ground business, there are multiple ways you can make a capital investment to obtain citizenship in Turkey. Turkish passport currently allows visa-free travel to 111 countries globally. You can obtain a permanent residency permit in Turkey (Turkish PR) either by making a property investment of $100,000 USD in Turkey or by setting up a new company in Turkey. advising our clients on a variety of CIP (Citizenship by Investment) programs including Carebbean programs; Dominica, Antigua & Barbuda, St. Kitts, Grenada Citizenships by Invesment, and Malta Citizenship You make an investment in the country and you’re eligible to apply for a citizenship. Up-to-date information about the requirements and grounds for residency can be found in English on the website of the Directorate General of Migration Management of Turkey's Ministry of the Interior. Muslim country offering democratic and Westernised lifestyle. But since they drastically dropped the rates, Turkey’s CBI program has flourished. The good news is that you are not required to make your deposit in lira. However, male children would be later liable with Turkish military service once after they would be over 18 years old. Therefore you will not be liable to exercise You can put that money in as a deposit in a Turkish bank, you can buy government bonds, or you can buy real estate or venture capital investment fund shares. You could put $500,000 into a Turkish bank or a bond, but why add complexity to things? The person who will apply for Turkish citizenship, while continue to live in his/her own country, after getting Turkey residence permit he/she can apply for the acquisition of Turkish citizenship. Her full-time job is to scour our global network to identify new banking, immigration, and lifestyle options for our clients. The normal Turkish tourist visa now allows foreigners to stay 90 days in any 180 day period regarding the new laws. Add to that spouses and dependants and Turkey has naturalized nearly 20,000 people since the inception of the program just three years ago. There are a few challenging points that you do have to wrap your mind around, however. Residence permits are granted in compliance with the rules designated by the bilateral agreements held between Turkey and foreigner’s country . And the best news of all? But as we all know Wikipedia is not the best source for this, I would be happy about a short response from you. Citizenships by investment for them and their families. 5901 and in the Regulation 2016/9601, which was passed and signed into law by the Council of Ministers (i.e. 3. law related legal requirements as new Turkish citizens. Turkish Citizenship by Investment procedures will usually proceed. Turkey does have its fair share of problems, as do all countries. We can proceed on behalf of you with an apostilled PoA (Power of Attorney) including bank account opening, property sale transfer as well as further Turkish Citizenship application Tourism numbers fell off a cliff. No Military Service required for TCBI Applicants. Identifying the Investment Property with our Real Estate Team, Finalising the sale; registration of the property, Obtaining Turkish PR (Short-term Turkish Residency Permit), Submitting Turkish Citizenship Applications. This means once after obtaining Turkish citizenship, you can apply for US E2 Visa thus you can relocate to the United States together with your family. Would you recommend going for a Turkish citizenship or a Grenada citizenship before applying for the E2 visa. Permanent residence permit issued valid for 5 years. There are some minor rules that you must adhere to, however. The country’s current-account deficit stood at nearly $34 billion in 2016. lawyers in Istanbul, Turkey, we can also advise you thoroughly on your Turkish citizenship applications through Bank Deposit Option. review and property sale transactions, and other compelling tasks in Turkey. Once after the investment is completed, and post-investment works are duly done, then the acquisition of official Turkish Citizenship status takes formally around 3-4 months at the most. Prospective Visa free travel to EU (Schengen zone) for all Turkish Citizens, Easy to obtain long-term, multiple entry visa to EU, US, Canada, UK and Australia for Turkish citizens, Strong, Independent Legal System and Courts, Perfectly located, nestled between Europe, Asia and the Middle East and Africa, Opportunity to relocate and live in Istanbul, one of the most beautiful and developed towns in the World or any other part of Turkey, Webinar on Turkish Citizenship by Investment Programme, Webinar on Turkish Citizenship by Investment and US E2 Visa, Webinar on Turkish Citizenship by Investment and Ankara Application, Company Formation & Bank Account Opening in Turkey, Atatürk Mahallesi, Ataşehir Bulvarı, Gardenya 5 Plaza, Kat:13, Ataşehir, 34758, İstanbul, Turkey. Normally, this will be issued on the day of your application, making it one of the speediest residence processes we’ve seen in the world. Applying for a permit was once a time-consuming hassle. Residence Permit May 13, 2020. If you don’t know what a citizenship by investment program is, let us get you up to speed. Official translations, apostilles, notary certifications, photos… It’s best to leave it all up to a certified professional. The application process usually takes just three to four months and it does not require that you learn any Turkish or go to a formal interview of any kind. Our Turkey immigration Attorneys are very experienced and able to advise in In just two years, the apartment I bought in Istanbul has doubled in value.”, “The Turkish citizenship has given me visa-free travel to all of Latin America, region in itself has a lot of investment opportunities.”. Three years ago, we didn’t think that the Turkish citizenship by investment program was going to amount to much. on routine there is no condition to buy property in turkey for residence permit and is extra option for turkish citizenship as choice, as an average tourist will first rent an apartment or house in turkey as local address declaration. We always recommend you do your due diligence. As highly experienced immigration lawyers and attorneys in Turkey, we can thoroughly advise you to obtain Turkish Basically, if you can start a company and employ at least 50 people, you will become eligible for a Turkish passport. Safe, Happy and Wonderful environment to settle with family. Turkish Citizenship by Investment Programme to Investment Migration Insider in Global Citizenship Conference recently held in sure all points are duly checked prior making the investment. Citizenships by Investment together with your family members. Yes, it is possible to earn regular interest on the deposited amounts. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, Don’t Miss These Discounted Caribbean Passports, 5 Passports by Investment With NO Donation Required, 3 Surprisingly Cheap Real Estate Markets Overseas. We can open a new bank account for you in Turkey in -1- Day only. And we’re not just saying that because it’s the lowest amount of money that it takes to participate in Turkey’s CBI program. (Turkish Lira), EURO, GBP or other major currencies depending on Investor’s own choice. The residency permit would be renewable after 2 years as long as you would keep the legal ownership status of the property. Certain conditions must be met, however. Short-Term Residence Permit for Foreigners. London (December 2019), We have been awarded as the Most Outstanding Citizenship Law Firm in 2020 Turkey by globally renowned, impartial acquisition international magazine, Standard & Charter foresees Turkey will be 5th largest economy in the world by 2030, Turkey. They liked the idea of having a secular country in the Muslim world give them a passport, just in case something in their own country went wrong. immigration lawyers based in our Istanbul office. You can expedite the process and apply remotely before going to Turkey for a three day trip, during which you would purchase the real estate and go home with your deed title. with financially strong developers only to make sure our clients’ investments will be on the safer side. In other words, you can’t say “I’m going to buy one in Istanbul for $200,000 and then I’m going to buy something on the coast for $50,000.”. We have successfully assisted more than 300 Clients so far and obtained Turkish It takes 3 to 4 months from lodging your application to receiving your Turkish passport. According to the current law, a person can be granted the right of residence if they make an investment or buy real estate of not less than 300 000 GEL The draft law increases the amount of an initial investment to $300 000 equivalent in GEL. I am from India and would like to go to the US on a E2 visa. Do keep in mind that if you sell your property after the mandatory three year holding period is up, you will be liable to pay VAT. Full Free Medical assistance for life for all family members in Turkish State Hospitals including coronavirus, cancer treatment. No interview has to take place either. Turkish citizenship can be acquired through birth from a Turkish citizen father or mother within the union of marriage, regardless of the birth place. The most important thing here is how much you need to invest. So, you must obtain a residence permit after you’ve made your investment to be considered for a Turkish passport. citizenship by investment. years. Foreigners can establish a business with minimum paid capital of 10.000 TL, however to obtain work permit as company owner/shareholder paid capital must be at least 100.000 TL and there must be 5 Turkish employees per each foreigner in the company. would be subject to pay taxes arising of such income. Yes. Become a Turkish citizen and get passport offering visa free travel to 110+ countries. When the Turkish CBI program was launched, you needed to employ 100 people. to your specific case and requirements. Ideally it is advisable to visit Turkey first for the initial procedures and then secondly once the citizenship is obtained for submission of fingerprints. In other words, if you don’t live in Turkey, you’re not going to care about the quality of their roads or their education. “Obtaining a Turkish citizenship, as well as real estate, has meant that I now feel safer about my future, and the future of my kids.”, “Turkey has been a great addition to my portfolio. Convinced that you need a Turkish passport in your passport portfolio? With the changes to the program making it more favorable for foreign investors, Turkey’s CBI program is one of the best out there at the moment. It would be necessary to make a separate investments for them to obtain the Turkish citizenship or alternatively, you can consider to apply for Turkish Residency Permit (Turkish PR) for the Dual nationals are not compelled to use a Turkish passport to enter and leave Turkey. Yes. You can also apply on the basis of descent and special circumstances, but the process is extremely long and demanding. Greece Golden Visa investors can obtain their permanent residence permit in 1-2 months. Many of Erdogan’s business allies are in this sector. Sure, you could go through the entire process of setting up a business and employing 50+ people. You’ll probably need some legal guidance and advice on navigating the world of business in Turkey. With the amendment of Turkish Citizenship Law No 5091, Turkey grants investors Turkish Citizenships by making an eligible investment in Turkey the conditions of which are also stipulated by law. Turkey residence permit cost and money required when applying for a Turkish visa or residence permit will vary according to the kind of permit you are applying for and your home country. Residency by Investment. In essence, you drop off the paperwork and can fly home with your title deed at hand and expect a passport in the mail in the next 3-4 months. The real estate route is particularly attractive for investors. Any foreigner who applies for Turkish citizenship by investment needs to obtain a temporary residence permit. Option (E), foresees that it is also possible to acquire Turkish Citizenship by making an investment into a Turkish real estate investment trust, or alternatively with purchasing the shares of a Residence permits have been the main hurdle for foreign buyers who plan to buy property in Turkey. Restricted nationalities: Armenia, Cuba, Nigeria, North Korea, and Syria. investment shall be confirmed by the Ministry of Treasury and Finance of Turkey. Turkey’s passport just doesn’t compare to many of the other passports from jurisdictions that offer CBI, e.g. Option (B) foresees to Deposit $500.000 USD in cash (or the equal value in Turkish Lira, Euros or other currency) with a condition to keep the monies at least for 3 years in one of the Turkish Banks. citizenship matters. No need to declare your wealth and source of investment for application. As we mentioned in the beginning of this article, we thought that Turkey’s CBI program wasn’t much to look at when it first started. According to previous regulations, foreigners can stay in the country for a maximum of three months on a tourist visa, after which time they … The monies could be deposited in any currency: USD, TRY He acts for a wide range of clients including HNWI Clients, investment funds, and financial institutions. by investment in our youtube channel. There is no Turkish language knowledge requirement to apply for Turkey’s citizenship by investment programme. Do I have to pay TAX then? Free Education and University Reimbursement Plans are provided. Turkey Citizenship by Investment programme allows the investors/main applicants to invest into multiple properties/units, provided that the total amounts exceed $250k USD, you can proceed with However, keep in mind that throughout the process, lots of paperwork will be required. Investing in Turkey – Turkish Citizenship by Investment Program. The sheer popularity of the program has caused some public pressure in Turkey. The initial investment threshold was set as follows: As we already mentioned, not many people were interested and the buy-in was low. permits, and other Global RBI and CIP programs. Highest GDP rate per capita when comparing with other CIP jurisdictions: One of the largest and strongest economies in the World. 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. As Ketenci&Ketenci, we are a leading Turkish law firm working internationally. Also, not many will be giving up their western citizenship only to become Turkish. You can obtain a permanent residency permit in Turkey (Turkish PR) either by making a property investment of $100,000 USD in Turkey or by setting up a new company in Turkey. submit Ankara Agreement applications either directly to the UK Home Office through our office in London or via the British Embassy in Ankara or British Consul General in Istanbul, Turkey. There are alternative ways to obtain a Turkish citizenship if the investment route isn’t what you’re looking for. Foreigners who intend to extend their stay in Turkey beyond the time limit prescribed in their visa, those who need a visa exemption or intend to stay for more than ninety days must obtain a residence permit. To facilitate the property investment for our Clients, we have set a special real estate department working internally with our firm. We are the leading law firm in Turkey advising on Turkish Citizenship by Investment and Global Citizenship and Residency by Investment Programs. We advise on Turkish citizenship by investment as well as Turkey will not tax you for your income abroad. Want to get citizenship while it’s still at the lower threshold? We can help you navigate all this and add a Turkish passport to your portfolio. Hello, You do not need to be residence permit holder to establish a company in Turkey. There are talks of upping the real estate requirement from $250,000 to $500,000 – perhaps the golden mean of Turkey’s CBI program, keeping both the investors and the locals happy. Through our residency trade services, people save time and improve their residence permit application. If you’re the main applicant, your spouse and all of your dependents under 18 years of age can also get a Turkish passport. They can include but are not restricted to the passport, birth certificate, residence permit, marriage certificate, the Turkish identit… Obtain a Residence Permit. other family members that cannot be included into your application which is subject to different rules than citizenship program. No, there is no residency requirement in Turkey either during the application process or after obtaining Turkish citizenship. Real estate permit is similar to tourist permit in many respects, but the former is stronger in terms of viability and duration of renewal granted. After obtaining a one-year residence permit, holders can only remain outside of Turkey for 120 per year, otherwise it will be revoked. As a rule, Turkish Citizenship by Investment Investors (Main Applicants) who are aged over 22 years old are all exempted of military in Turkey. Technically, this could be all done on the same day. ⤅  What Is a Citizenship by Investment Program? Turkish citizenship can be passed along to your children, Visit 110+ countries, including Japan and all of Latin America, Get access to live and work in USA and UK as a Turkish citizen, Apply and receive your citizenship in 3-4 months, You and all of your dependents will get Turkish citizenship, Pick from 6 routes to obtain your passport. Turkey is still a developing country and that comes with its own challenges. You can review a Webinar in which our CEO, Güvenç Ketenci and Angie Rupert of California based Rupert law firm discussed the whole procedure of applying to US E2 Visa after obtaining Turkish Citizenship Some of this overpriced inventory was sold to people from the Middle East who had a lot of wealth but mediocre passports. A citizenship by investment (CBI) program is a scheme set up by a national government to attract foreign investment. obtaining Turkish residency and work permits. Turkey has many great fundamentals, including the young population, its location, and its emerging market status, among many other factors that make it a highly interesting country for investors to engage with. This instantly made it the hottest thing in the RCBI (Residence and Citizenship by Investment) world. [UPDATE 2017: Turkey has launched a new economic citizenship program, check requirements to get Turkish Citizenship by investment] Residence. For example, if you’d like to make a deposit at a Turkish bank, you can make it in any currency that the bank will accept and hold. We’ll tell you how. However, this shall be done prior Have you always wanted to start a company abroad or do you have a business already and want to outsource some of the labor to a cheaper country? for a fee quotation for your citizenship application including full breakdown of the costs. Our corporate Turkish immigration practice is renowned for very diligent approach, Each citizenship application is very diligently followed up by our highly experienced Turkish citizenship and Turkey As experienced immigration attorneys and Citizenship There are many smaller steps that make up the bigger step, such as obtaining a tax registration number. The good news is that as of 2013, property buyers will be granted automatic year-long residency permits instead of the three-month permits that were previously issued. There is no minimum investment amount required; you just have to prove that you own a property or you are running a business, and that you have sufficient financial means to live in the country. Fantastic nature, wonderful beaches, green forests and lakes, Excellent food, globally renowned Turkish cuisine, one of the few countries offering food security. Plus, setting up a company, running a payroll and all that comes with its own costs. He is a member of Investment Migration Council. Turkey is a vast country that straddles the Euroasian continent, with one foot in the Western European world and one foot in the Middle East. Option (D) indicates that Turkish Citizenship could be obtained with the purchase of Turkish Government Bonds and Bills of $500.000 USD on the condition to hold them for at least 3 years. If you wish to settle in Turkey and start your business or purchase a property, you may apply for a Residence Permit. First, put $500,000 into a Turkish bank or government bonds. A Turkish Residence Permit is an authorization to remain in Turkey for longer than three months in half a year, under purposes as settlement, working or studying. Mevlana Mah. There is no denying that it’s a regional economic powerhouse and the world’s 16th largest economy. Turkish Venture Capital Investment Fund with a minimum amount of $500.000 USD. It’s also the option that makes the most sense to an international investor. You can review our webinars, live talks and pictures and events that we attended and organized on Turkish Citizenship by Investment program on our Social Media accounts: We have recently organized seminars on obtaining Turkish Citizenship by Investment in Pakistan jointly together with Saad Ahsan law firm (February 2020), Our CEO, Mr. Güvenç Ketenci recently attended the UGlobal Conference held in Dubai back in February 2020 and shared his views on Turkish Citizenship by Investment program as one of the panelists on US E2 We have been advising our respected clients on the Turkish Citizenship by Investment (TCBI) since January 2017, the introduction of the program by the Turkish government. Once we start working for your citizenship case; our The application process for this permit is quite long - up to five months. New Turkey Identity Cards are also included. Only recently, the Chinese agents have caught wind of Turkey’s CBI program and have started to flock to the country, eager to tell their clients back home all about it. multiple languages. Would also like to know if the amount invested in real estate in Grenada is recoupable or not. You will therefore get the full benefit of working with one of the most reputable and corporate law firms in Turkey working internationally for many years, advising on global and Turkish migration and And the final nail in the coffin was the massive surplus of real estate that just sat there. We can also advise you on your relocations as a Turkish Citizen to the Netherlands or Germany and other EU jurisdictions vis a vis Ankara Agreement. This investment shall be confirmed by the Turkish Ministry of Industry However, there are a lot more hoops to jump through. The fact that only back in 2016, there was an attempted coup d’etat that took place in Turkey shows that it’s a country where things could change on very short notice. In other words, it needs to be deemed as having fulfilled the requirements set out by the law. This preeminent international migration, citizenship and residency experience as well as our traditional corporate working culture paved the way for us to become the leading law firm advising on Turkish Turkey is a bit shaky on this. Turkey Residence Agency offers advisory service of residence permit application for foreign clients. Citizenship by Investment Turkey. Can continue from 1 term Touristic to 2nd term Real Estate Residence permit (with Turkish citizenship option after 5 years) and reason for additional Touristic stay in Turkey more period. Investors are able to visit Turkey for just three days and get into the program, then receive a passport. Pakistanis proceed mosty with the property investment option to apply for Turkey citizenship program in which it is essential to make a property investment in Turkey minimum worth $250,000 USD. It is required to have a Residency Permit in Turkey to live permanently in Turkey, the conditions of which is subject to rules. well as Antalya, Izmir, Mugla, Bodrum, Bursa, Yalova, Trabzon and other towns in Turkey. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, Second Residence: How to Get a Residence Permit Overseas, The Best Citizenship by Investment Programs, Citizenship By Descent: How to Get an Ancestral Passport, International Investment: How to Invest in Emerging Markets. It’s main proposition remains the simplicity and the low investment threshold. However, when it does become important is when it starts affecting your investments. The final step in the journey – actually applying for citizenship. Foreigners to enter Turkey by (1-90 day) tourist, student, business, medical, commercial Visa or e-Visa (1-30 day) and to purchase Turkey property under 250.000 USD may obtain Turkey Real Estate Residence Permit ID Card as individual or family valid 1 or 5 years without any condition for continues stay in Turkey. Under Turkish Citizenship by Investment program rules, you can invest in Turkey and become a Turkish citizen instantly with your family members either by investing in a property in Turkey minimum worth $250,000 USD or alternatively you can also obtain Turkish Citizenship by depositing $500,000 USD in one of the Turkish Banks. We We provide advisory services on foreign direct … Save my name, email, and website in this browser for the next time I comment. She has a significant experience on Turkish citizenship by investment program as well as obtaining Turkish residency and work Investors can renew their residence permits for 5-year periods and have unlimited renewal rights. We understand each of our clients’ specific requirements, So, let’s assume I buy a property there, get the residence permit, the passport and decide to live there for 3-5 month’s a year. Ever since January 2017, you can basically buy your way to Turkish citizenship.