Introduction
This article will analyze the acquisition of Turkish Citizenship by Investment based on the decision of the President in Turkey within the context of Article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship (No:5901). Other types of later acquisition after birth do not fall within the scope of this paper.
For our work and all legal services on the matter of citizenship by investment, please click our Practice Areas, titled Citizenship and Investment.
What is Turkish Citizenship by Investment?
Fundamental feature of Turkish Citizenship by Investment is that it is seen the fastest and safest route for gaining citizenship.
Turkish Immigration lawyers or Turkish citizenship lawyers are very good at evaluating legitimate reasons for each program. There is a clear procedure that should be carried out carefully. Therefore, a professional help by Turkish citizenship lawyer may be very helpful for each state.
Is Turkish Citizenship by Investment worth it?
Turkish Citizenship by Investment is designed for granting individuals citizenship by means of local investment in a relevant country or region. Citizenship by investment programs (CIPs) currently offered by most jurisdictions across the world. Individuals apply to CIPs with a view to traveling freely, starting up a new business and or benefiting from educational or occasional opportunities in a different part of the world. Turkish Citizenship by Investment has been a matter of discussion in Turkey over the years.
What are the rules for Turkish Citizenship by Investment?
In the case of Article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship(No:5901), there are limited ways of obtaining Turkish citizenship through investment. In summary, Turkey citizenship by investment is possible through investment in Turkey for citizenship:
- Citizenship by property purchase
- Citizenship by capital investment
- Citizenship by employment
Is it hard to get Turkish Citizenship by Investment?
According to some reports, more than 7.000 foreigners obtained Turkish Citizenship by Investment thanks to home purchase only between 2014-2017. Citizenship by investment in Turkey is seen very attractive by foreign nationals as a way of foreign direct investment. Because of challenging aspects of each programme, an embracing legal guidance by Turkish citizenship lawyer may be very useful for a right conclusion.
For our work and all legal services on the matter of investment, please click our Practice Areas, titled Investment Advice.
Can you get Turkish Citizenship by Investment based on a capital transfer?
Under the Turkish citizenship by investment rules, foreign capital investors may be eligible for citizenship by investment in Turkey. In this context, making a minimum of fixed capital investment of USD 500.000 or equivalent foreign currency or Turkish lira, as attested by the Ministry of Industry and Technology may provide alien investors with citizenship in Turkey. Once needs to bear in mind that Turkey venture capital lawyers are very skillful to manage the process. Minimum level of venture capital in Turkish law is 500.000 USD.
For the main advantages of investing in Turkey take a look at our articles:
- Investment Opportunities in Turkey
- Is Turkey Safe for Investment?: Six Advantages to Grow Your Business in Turkey
- Establishment of A Company in Turkey
Can I buy property in Turkey and get Turkish citizenship by investment?
In the recent decade, the economic downturn has been a matter of concern facing the international community all over the world. As a response to economic hardships, new amendments are designed for attracting direct foreign investments. Granting citizenship owing to any kind of property purchase is a leading method.
In terms of real estate buyers, four main steps may be taken as follows: making an agreement on a Turkish property, the determination and confirmation of the relevant estate’s value, the examination and approval of the relevant national institutions, the proof of a title deed restriction on the resale of property for at least three years.
Checking due diligence and mortgages and liens, controlling ownership titles from Land Registry, the signature of real estate sale contracts before notaries are significant part of the safe transfer of ownership and citizenship by investment turkey. Turkish citizenship lawyers are capable of performing such duties timely.
For more information you can take a look at our articles on
How much does it cost to invest in turkey to get Turkish Citizenship by Investment?
Turkish government took a new decision increasing the minimum real estate investment to qualify for citizenship, from the previous USD 250.000 to USD 400.000. The said decision enters into force following the Official Gazette publication in May 2022.
Can you get Turkish Citizenship through submission of employment opportunities?
Aliens creating jobs for at least 50 people may be granted Turkish citizenship. It should be attested by the Ministry of Family, Labor and Social Services.
For our work and all legal services on the matter of Employment, please click our Practice Areas, titled Employment
Can you get Turkish Citizenship through the deposit of a certain amount of money?
When a foreigner deposits at least USD 500.000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same amount for at least three years, an additional condition lays ahead. This investment must be attested by the Banking Regulation and Supervision Agency. Finally, they will be eligible for Turkish Citizenship by Investment.
Can you get Turkish Citizenship through buying a certain amount of currency?
Buying at least USD 500.000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share is another way. The main condition is that they are not sold for at least three years.
For more information about financial regulations in Turkey take a look at our article on
Can you get Turkish Citizenship by Investment based on a real investment fund share?
Real estate investment funds in Turkish law are another way of the acquisition of Turkish citizenship by Investment. Indeed, buying at least USD 500.000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share may open Turkish citizenship certificate. Aliens should meet the condition that they are not sold for at least three years. Besides this procedure should be attested by the Capital Markets Board of Turkey.
Can you get Turkish Citizenship by Investment based on private pension funds?
Owing to a legislative change on Article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship (No:5901), a new acquisition type of Turkish citizenship enters into force. When foreigners deposit at least USD 500.000 or equivalent foreign currency or Turkish lira in the private pension system with the condition of holding this fund for three years, as attested by Insurance and Private Pension Regulation and Supervision Agency, they may gain Turkish citizenship.
For our work and all legal services on the matter of citizenship, please click our Practice Areas, titled Citizenship.
What is the role of Turkish Immigration Lawyer for the acquisition of Turkish Citizenship by Investment?
Therefore, right and timely steps should be carried out for the acquisition of residency and citizenship, international protection and similar opportunities. In general, a Turkish immigration lawyer and Turkish citizenship lawyer specializes in helping guide foreigners through their immigration processes.
Conclusion
This article essentially analyzes the question of how the acquisition of Turkish Citizenship by Investment is possible. Bearing in mind the aforementioned evaluations, it becomes clear that Turkish Citizenship by Investment requires a comprehensive legal guidance by Turkish Immigration Lawyers and Turkish Investment Lawyers.
Every single method looks very simple and clear. However, that is not the case. There are very complex proceedings connected to each other. Substantial acts and actions should be carried out by different national authorities. Besides, there may be additional criteria that must be met by foreign investors for each. The initiation of the citizenship process through a certain investment does not guarantee an automatic ownership of citizenship. There will be various additional legal requirements for any genuine achievement. A comprehensive legal guidance and consultation is, therefore, needed for avoiding waste of time and substantial unnecessary expenses.
