How to apply to Turkish Citizenship?
The Turkey Citizenship by Investment program has very clear guidelines in terms of the process of application. The laws for the regulation of Turkish Citizenship are regulated under Citizenship Law numbered 5901. A number of revisions have been made to this law originally enforced on 29/05/2009 – the most recent being dated the 19/09/2018 which has reduced the required investment. The recent changes to the program have made this opportunity very attractive to investors.
The process can seem somewhat overwhelming to a potential investor. This is where Terranova Global can give reassurance and peace of mind to clients, as we offer a full service that takes the stress away. We assist with all aspects of the application process including providing a list of required documents, assisting in property search, finalizing all purchase requirements to achieve title deeds and opening bank accounts. We will be with you every step of the way until the Citizenship is finalized and the Turkish passport is in your hand.
Two options for obtaining Turkish Passport
An applicant is required to have a Turkish lawyer file on their behalf. Our legal team have strong relationships with Government officials and can ensure a smooth process throughout. In order to apply for Turkey citizenship there are two options for investors to pursue.
The first is an investment into the Turkish Real Estate Market. The investment can be made into either residential or commercial property and can be purchased in any part of Turkey and must be held for a minimum of 3 years. The Istanbul real estate market is the most popular option for investors due to being the largest and most well- known city and home to over 20% of the Turkish population with a strong tourism market. The investment level required is $250,000 US. The investment can be into one or more properties providing that the valuation of the combined properties is valued at more than $250,00 by the official valuation conducted by the Ministry of Environment and Urbanisation as part of the application process.
Receiving Residency in Turkey
The main applicant will be required to travel to Turkey at least once (perhaps twice). The initial visit would involve the selection of the property and signing of the official documents regarding this to secure the title deed. The second visit would be required after the application has been submitted and this would be to meet with Government officials who would identify the applicant and collect all biometric date. Additional applicants included such as a spouse or children would not be required to visit Turkey for this, they would be able to do this at their local Turkish embassy. At this point the applicant would receive residency in Turkey.
The Turkish Government does not currently have a Citizenship by investment unit set-up, meaning the application will move between different Government departments. Terranova Global would keep up with the movement and ensure the process goes through without any issues. After submission the process towards citizenship should take approximately 6 months.
The second option to achieve Turkish citizenship is to invest $500,000 US into a Turkish bank account. This option is a little more straight-forward, as no purchasing of property is required. The process would be similar, with the main applicant needing to travel to Turkey to provide biometrics and the submission would pass through the same Government entities and again needs to be filed by a Turkish lawyer. This process is likely to take less time – current estimation is between three and four months.