Turkey is a country that offers a great location with a climate of four seasons. You can enjoy various things about Turkey. For example, you can swim in its beautiful seas or enjoy the traditional foods. The vibrant lifestyle will attract you to this country somehow.
A growing number of people around the world choose Turkey citizenship investment to benefit from the attractions above. In this way, they can also have access to the markets both in Europe and Asia.
The program has been providing Turkey citizenship since 2017. Let’s now delve into more details about this program.
What is Turkey Citizenship Investment About?
This is mainly an investment program that provides citizenship in return. The government aims to attract direct investment from foreigners and grow the real estate sector. In this way, the investors obtain citizenship in a short while.
There are three different investment routes you can choose from while applying for citizenship by investment in Turkey. The minimum investment amount you need to make is $400,000.
Let’s now check if you can be eligible for the program.
Eligibility for Turkey Investor Citizenship
Firstly, you need to meet the following criteria to apply for the program:
- You need to be at least 18 years of age, and
- You must have never stayed in Turkey in an illegal way.
Required Documents
If you meet the qualifications above, you need to prepare the following documentation in the application process:
- The birth certificates of all applicants (This means including your family members)
- All applicants’ passports and passport photos
- Proof of residence. You can use a utility bill for this
- Turkish tax ID number
- Proof of investment
- Proof of clean criminal record of all applicants
- Proof of valid health insurance
Note that you can include the following members of your family in the program:
- Your spouse,
- Dependent children under the age of 21,
- Your children with disabilities no matter how old they are, and
- Your dependent parents.
Reasons To Apply For Turkey Citizenship by Investment
Check the following benefits before you hesitate about getting Turkey citizenship.
Enjoy Living, Working, and Studying in Turkey
You can benefit from the right of living, working, and studying when you obtain your visa. So, your family can have access to these rights such as education. You can also rent out your property as well. Not to mention that access to healthcare services is also available when you get citizenship.
A Fast Way To Get Turkish Citizenship
Compared to many other investment programs, Turkey investor citizenship provides you with citizenship in less than two months.
No Residency or Language Requirement
Another good side of the program is that you don’t need to enter a language test to get your citizenship rights. Furthermore, no residency period is required.
Keeping Dual Citizenship
You can have dual or multiple citizenships when you get Turkey citizenship. Still, it’s better to check your home country if it also allows this right.
E-2 Investor Visa in the US
Turkey and the US have agreements called E-1 and E-2 Investor Visa. Via E-2 Visa, a Turkish citizen can relocate to the US. So, you can benefit from this right as well once you become a Turkish citizen.
No Taxation If You Don’t Become A Tax Resident
Turkey doesn’t require you to pay taxes on the income you earn from abroad unless you’re a Turkish citizen. However, you need to pay taxes for the income generated in Turkey. For example, if you rent out your property in Turkey, then you need to pay taxes.
Investment Requirements
Let’s now answer the question of how to get citizenship in Turkey. As noted above, three different routes are available. You can choose one of them to proceed with your application.
1. Real Estate Investment
This option requires an investment of at least $400,000 in real estate in Turkey. The type of property doesn’t matter. Buying an apartment, villa or land are possible options for an investor.
It’s also possible to buy more than one property of which the total value is a minimum of $400,000. The condition for this option is that all properties must be located in the same neighborhood.
You need to retain the property for a minimum of three years.
2. Creation of Jobs
This option requires you to create jobs for at least 50 Turkish individuals. You can establish your company and employ workers for this. Getting legal assistance at this step is highly advisable.
3. Capital Transfer
This option entails a minimum investment amount of $500,000. You can transfer this amount by:
- Depositing it to a Turkish bank
- Contributing to government bonds, or
- Investing in fund shares.
Note that you must retain the investment for three years.
As you can see, Turkey citizenship by investment provides several benefits for foreigners. It’s a fast process, so don’t wait for more, and apply today!