Istanbul to Ankara: Your Pathway to Turkish Citizenship

Turkey is one of the most popular destinations among tourists. It is strategically located between Southeastern Europe and Western Asia. So, it attracts a diverse tourist demographic.

Hot air ballooning in its central region of Cappadocia might be the first image that pops up in your head when you think about Turkey. But the country has much more to offer. Turkey has a rich history, marvelous architecture, and varied landscapes.

According to the World Bank, Turkey is the 19th largest economy globally, with a GDP of about USD 906 billion. It has a young population with a significant number of citizens under the age of 30.

So, if you plan to move to a better country or get a second citizenship, consider Turkey. Foreign investors can acquire real estate, invest in funds or government bonds, or establish a business to obtain Turkish citizenship.

The article will take you through the Turkish citizenship program, its benefits, investment options, and eligibility criteria.

An Overview of the Turkish Citizenship by Investment Program

Turkey established its citizenship through an investment program in 2017. The aim was to attract foreign direct investors to help strengthen the nation’s real estate sector.

Since the program’s inception, there have been several changes around the minimum contribution required. Currently, the minimum contribution is set to USD 400,000.

The complete citizenship application process can take up to three to five months. It is the due diligence step that takes up the most time. But comparatively, the timeline is on the shorter end.

If you want to talk to an investment migration expert and understand if you are the right candidate for the citizenship program, please visit https://globalresidenceindex.com/turkey-citizenship-investment/.

Benefits of Obtaining Turkish Citizenship

If you are wondering what benefits you would get after becoming a Turkish citizen, here is a list for you.

• Visa-Free Travel: With a Turkish passport, you can travel visa-free or obtain a visa on arrival or Electronic Travel Authorization (eTA) in over 110 countries. The list of visa-free countries includes Japan, Hong Kong, Malaysia, Singapore, and Brazil.

• Include Family Members: You can include your spouse and dependent children in your citizenship application. Children must be under 18 years of age. Older children cannot be added to the citizenship application but can get a residence permit.

• Access to Healthcare: You and your family can access the public healthcare system in Turkey. You can apply for Universal Health Insurance, which covers most emergencies and illnesses. You could also pay for private insurance.

• Eligibility for E2 Investor Visa to the US: As Turkish citizens, it becomes easier for you to apply for this visa to the US. You can live and run a business in the US. Please note that it is a non-immigrant visa, meaning you cannot apply for US citizenship.

• Dual-Citizenship: Turkey allows dual citizenship, so you do not have to renounce your citizenship from your previous country. Dual citizenships are beneficial as you have a safe haven to turn to in case of economic or social unrest in your home country.

Investment Options Available When Applying for Turkish Citizenship

You can invest in different channels when applying for the Turkish citizenship program. Here are your options.

• You could acquire real estate with a minimum value of USD 400,000. You can buy residential or commercial property; the minimum investment can be distributed across multiple properties. The property must have a title deed restriction on its resale for a minimum of three years.

• You could make a fixed capital investment of USD 500,000 or equivalent foreign currency.

• You could deposit USD 500,000 or equivalent foreign currency in banks operating in Turkey. The deposit must be made with the condition that it will not be withdrawn for a minimum of three years.

• You could invest the same amount in government bonds with the stipulation they will not be sold for three years.

• You could buy real estate or venture capital investment fund shares worth a minimum of USD 500,000 and hold them for three years.

• You could deposit a minimum of USD 500,000 into funds determined by the Insurance and Private Pension Regulation and Supervision Agency. This again comes with the condition that the funds stay in the private pension system for three years.

• You could establish a business in Turkey and create jobs for up to 50 people.

Eligibility Criteria for Applying to the Turkish Citizenship by Investment Program

To be eligible for Turkish citizenship by investment program, the main applicant must be over 18 years old, in good health, and have no criminal record. One must also be able to provide proof of the legality of the investment amount.

When applying, you must submit documents like a valid passport, birth certificate, marriage or divorce certificate, if applicable, and passport-sized photographs. You and your family members will need a police clearance certificate stating the applicants do not have a criminal record.

Summary

The Turkish citizenship by investment program offers benefits like visa-free travel to several countries, access to healthcare and education, and eligibility for the E2 investor visa to the US.

You could make a contribution of USD 400,000 to USD 500,000, depending on the investment route you choose. You could invest in real estate, government bonds, venture capital fund shares, or deposit the money in a Turkish bank account.

The investment, application, and passport issuance processes take about three to five months to complete.

If you wish to know more about the Turkish citizenship application process, you could request for a free consultation with Global Residence Index.