Turkey connects Asia and Europe by air, sea, and land, and is strategically located at the crossroads of these two continents. The country is a developed country with a high level of industrialization and one of the world’s major emerging markets. The country produces the most agricultural products, textiles, automobiles, and consumer electronics in the globe. The capital is Istanbul, while major cities include Ankara and Antalya. The Turkish lira is the local currency. Turkish cities have a high demand for real estate.
In 2016, Turkey introduced its citizenship-by-investment scheme. Applicants who invest in real estate or a bank deposit are granted residency, citizenship, and a Turkish passport. For investors, the real estate route is particularly appealing. This involves a minimum property purchase of $250,000 plus costs, making Turkey one of the most affordable citizenship by investment options available. The real estate investment amount was originally set at $1 million, however in September 2018, it was dramatically cut. A Turkish passport entitles the bearer to visa-free travel (or visa on arrival) in 125 countries across the world. Turkey also mentions the prospect of visa-free travel to the EU in the future. Talks are currently ongoing, albeit Turkey still has a long way to go to meet EU requirements.
Investment Options
- Purchase at least $250,000 in real estate.
- Purchase government bonds worth at least $500,000 and keep them for at least three years.
- Create a business that employs at least 50 people.
- Make a minimum capital investment of $500,000.
- Make a minimum deposit of $500,000 in a Turkish bank and hold it for at least three years.
- Invest at least $500,000 for at least three years in a real estate investment fund or a venture capital investment fund.
Required Documents
As an investor, there are no residency requirements to gain Turkish citizenship. This means that you can get a Turkish passport six months after investing, even if you have never lived in Turkey. You can also employ professionals to help you with your investment, visa application, and citizenship procedure. As a result, you don’t have to be in Turkey to make your investment or apply for a visa if you don’t want to. You may, however, need to travel to Turkey to monitor your investment. If you’re buying real estate, for example, you’ll need to inspect the property or compare other options.
The following documents are required to apply for a Turkey Investor Visa:
- Obtaining a passport (for each applicant).
- Evidence that you’ve made the essential investment.
- A Turkish tax identification number.
- Document demonstrating you have never overstayed your visa in Turkey.
- Proof of payment of all taxes and fees associated with the Turkey Investment Visa application.
- a criminal record (for each applicant).
- Certificate of Birth (for each applicant).
- Photographs the size of a passport (for each applicant).
- Certificate of Marriage (if applicable).
- Certificate of divorce (if applicable).
- Certificate of Death (if applicable).
- Proof of legitimate health insurance in Turkey (for each applicant).
Following the selection of the qualifying investment choice, a residence permit application will be submitted on behalf of the family. After that, the main applicant must create a bank account in Turkey. The investment can be finalized and the documents submitted to the government once all application documents (including required certifications and translations) have been prepared. After the government receives the application, the screening process will begin, and an interview may be required. In most cases, applications are approved within 120 days, after which citizenship documents are issued. After that, you can submit your passport application.
