Turkish Citizenship by Investment in 2019
Ministry of Internal Affairs has announced that Private Offices ( Information Office For Citizenship Of Foreign Investors ) will be established for the foreigners who want to obtain Turkish Citizenship. The reason for these establishments is that Turkish Government is trying to attract the foreign investors by simplified procedures and processes
With the new law published on the Official Gazette, the regulations regarding obtaining Turkish Citizenship have changed. With the bill signed by Turkish President, R.T.E, regulations regarding Turkish Citizenship have changed the procedure of obtaining the citizenship.
According to the new amendment, the amount of stable capital has been reduced from $2.000.000 to $500.000.
In addition the amount of realty ownership has been reduced from $1.000.000 to $250.000.
Furthermore, the number of recruitment has been reduced from 100 employees to 50. Likewise, the amount of deposit to be kept in Turkish bank accounts has been reduced from $3.000.000 to $500.000.
Ministry of Internal Affairs has announced that Private Offices will be established for the foreigners who want to obtain Turkish Citizenship. The reason for these establishments is that Turkish Government is trying to attract the foreign investors by simplified procedures and processes.
The Ministry has announced that these Private offices will give service to applicants individually.
As of the new regulations made by the president’s amendment is as follows:
A. Those who can fulfill the following conditions may get Turkish Citizenship by the law passed by the President:
B. Those who made and proven a cash investment of $500000 or TL equivalent
C. Those who have purchased real estate properties to the minimum value of $250000 or TL equivalent, with the condition that it cannot be sold for 3 years.
D. Those who have recruited a staff of minimum 50 employees
Steps to acquire Turkish citizenship through real estate investment:
Buy Real Estate with minimum $250.000 cash or the equivalent in Turkish lira at the exchange rate approved by the Central Bank of Turkey. The person can buy any number and type of real estate that is valued at the defined amount. Empty land will not be considered. To be eligible for this new citizenship law, the investor must have TAPU that is dated after the date of the law (18th September 2018).
Obtain Property registration in the name of the investor (TAPU) from the relevant local authority that states the value of the properties.
Prepare assigned written confirmation that the invested property will not be sold within the first 3 years after receiving the citizenship.
The purchase funds must be transferred through the official channels through the bank.
Apply to the special private office set up by the government to obtain the report of the Evaluation Committee and the experts to approve the value of the property by the government. It should be noted that the official evaluation may be sometimes be slightly lower that the actual purchase, therefore, it is advisable to have the total of the purchased real estate to be slightly higher than the legal limits. Some completed projects may already have approved official evaluation.
Apply and obtain the investor residence permit as investor residency permit holder.
Get the tax number (Vergi Number) from any VERGI office that are available all round Turkey.
Apply for Turkish Citizenship with the investor residence permit, VERGI number, NO sale confirmation letter and the official real estate evaluation.
It is possible to obtain Turkish Citizen for the investor as well as for his family members: wife and children below 18 years old (18 years old not included).
How long does it take to obtain Turkish Citizenship (TC) for all family members?
It usually takes around 3-6 months to obtain Turkish Citizenship and Turkish Passports for the Principal Applicant (Investor) and other family members provided that all the documentation is ready and duly compiled, and pre and post-investment works are properly done and these would be diligently followed up. With the recent additional relaxation in law, the total period to obtain full Turkish Citizenships for all family members have been reduced to as low as 60 days only in 2019.