Obtaining Turkish citizenship by investment is now the new trend in Turkey. The Turkish Ministry of Interior Affairs announced at the beginning of March 2020 that more than 5,000 foreign investors have obtained Turkish citizenship in exchange for investing in Turkey. It is expected that the number of holders of Turkish citizenship will increase to 9,000 soon after the Turkish government has amended the laws since 2018 and facilitated requirements for obtaining Turkish citizenship in exchange for investment.
This is reflected positively on the Turkish economy, which has absorbed foreign investments worth 1.7 billion US dollars and is expected to increase as well. Obtaining Turkish citizenship in exchange for investment includes many categories. Learn about them on your site Turkey for Expats, and also learn how to obtain Turkish citizenship by investment in detail!
Turkish citizenship by investment: The categories
Turkish citizenship can be obtained in return for investing in Turkey through several methods or categories:
1 – Buying a property in Turkey with a value of not less than 250 thousand US dollars or its equivalent in foreign currencies or in Turkish lira. Provided that the property is not sold until after a period of 3 years has passed, after amending the laws (the value before the 2018 amendments was one million US dollars).
2- Deposit an amount not less than 500 thousand US dollars or its equivalent in foreign currencies or in Turkish lira in a Turkish bank (previously it was 3 million US dollars). Provided that the amount is not withdrawn before 3 years of its deposit.
3- Investing with a fixed amount of not less than 500 thousand US dollars or its equivalent in Turkish lira (previously it was 2 million US dollars). The investment is made in a fixed amount by buying a share in the Turkish Real Estate Investment Fund, or a share in the capital investment fund of 500 thousand US dollars or its equivalent in foreign currencies or in Turkish lira, provided that the investment period is not less than 3 years.
4- Securing operational job opportunities for 50 Turkish people (after it was 100 Turks in the past).
5- Purchase of Turkish government bonds for an amount of at least 500,000 US dollars or its equivalent in foreign currencies or Turkish lira; provided it was not sold before 3 years.
Know also how to get a residence permit in Turkey here
Turkish citizenship by investment: The how?
Obtaining Turkish citizenship investment in Turkey requires a waiting period of 3-6 months until foreign investors complete the procedures of the government program for it. This is divided into 3 main stages, which are as follows:
The first phase of the government program for obtaining Turkish citizenship by investment:
Obtaining an approved certificate of eligibility is a must, it can be obtained from many government agencies that differ according to the chosen investment category, as follows:
- For investors aiming at buying a property in Turkey, they can obtain a certificate of eligibility approved by the Turkish Ministry of Environment and Urban Planning.
- For investors aiming at depositing money in a Turkish bank, the certificate of eligibility approved by the Agency for Banking Regulation and Supervision in Turkey must be obtained.
- For investors with a fixed amount, they can obtain the approved certificate of eligibility and approval by the Turkish Capital Markets Authority.
- For investors who provide 50 job opportunities for Turks, they can obtain a certificate of eligibility approved by the Ministry of Family, Labor, and Social Services in Turkey.
- For investors who are purchasing Turkish government bonds, they can obtain the certificate of eligibility approved by the Turkish Ministry of Treasury and Finance.
The second phase of the government program for obtaining Turkish citizenship by investment:
Obtaining a residency permit is a must as well, and you should apply for it after obtaining the approved eligibility certificate directly. Then, you submit the residency permit to the competent directorate of the Immigration Department in the governorate in which you wish to reside. Accordingly, you will obtain from the directorate documents that enable you to apply for citizenship from the Turkish Immigration Department.
The third stage of the government program for obtaining Turkish citizenship by investment:
Obtaining the final approvals from the Turkish directorates occurs after obtaining the citizenship transaction from the Immigration Department. the citizenship transaction papers and the required documents are submitted to the Directorate of Population and Nationality in the Turkish province in which you wish to reside until it is marked with approval.
Finally, they go to the General Directorate of Population and Nationality Affairs to obtain approval.
You can follow your citizenship profile step by step through the following link:
Read about Turkish citizenship by investment in Arabic
If you have any questions, you can leave them in the comments section!