Acquiring Property and Citizenship

The easiest way to get an initial tourist residence permit is to buy any property. Another way is to get a permanent residence permit by purchasing real estate worth $100,000. A permanent residence permit will be given for two years, then it can be extended for another three years. It is enough to indicate the goal – to obtain investment citizenship.

Turkish citizens travel without visas to 110 countries, among them are Japan, Hong Kong and Singapore. My favourite brokerage to invest in international stocks is IB. To find out more about this low-fee option with Turkish Law Firm access to plenty of markets, click here. In the case when both foreign parents become Turkish citizen under the conditions above, the foreign child under age 18 inherits the same rights to become a Turk citizen.

turkey Citizenship by Investment

For more information, contact us to speak with a Turkish tax expert. Excellent value – With the depreciation of the Turkish Lira, the time to buy real estate in Turkey is right now, before prices rise. Invest in Turkey and you can pick up a villa to meet the $400,000 USD requirement in certain cities or a city centre apartment rising in Istanbul.

It is also possible to obtain a Turkish passport by either depositing US $500,000 at a Turkish bank for three years or purchase government bonds to the same value and keep them for three years. Under the guidance of the Ministry of Industry and Technology, you can also invest US $500,000 in fixed assets. Deposit at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the amount for at least three years.

Antigua & Barbuda Becomes 2nd Caribbean CBI Country to Re

Under Turkish law, your property and investment will smoothly pass down to your loved ones without much red tape. You do not need to live in Turkey in order to keep your citizenship and passport. There are no minimum required days per year that you have to stay in Turkey. Use a Bank Transfer and document the transaction by receipt.

Is to visit direct in person at the Ministry of Interior Directorate General of Migration Management Göç İdaresi at 250 office locations in Turkey. On final with the foreign person name published in the Turkish Official Gazette will conclude that Turkish citizenship has been granted and completed. To legally reduce their tax bills, diversify and protect their assets, invest overseas, obtain a second citizenship, and live a more free life globally.

The amendments aim to prevent any possible grievances by providing a monthlong grace period in which transactions that were already in the pipeline at the time of publication can be completed. Hence, the minimum requirement for real estate acquired between May 13 and June 13, 2022 shall remain as USD 250,000. Nonetheless, any other real estate acquisition taken place after June 13, 2022 shall be subject to the minimum requirement of USD 400,000. “Following prolonged conflicts in its neighborhood, Turkey needs tourism revenues to meet its foreign exchange needs. My only concern is that the purchase of houses should not be made open to abuse as it needs to be monitored closely with a strict regulation.

You also need to maintain the investment for a minimum of three years, which is very short in the CBI world. Employ at least 50 people, you will become eligible for a Turkish passport. There are some minor rules that you must adhere to, however. If you’re looking to buy multiple properties, both of which combined would make your investment $400,000 or more.

Ideally it is advisable to visit Turkey first for the initial procedures and then secondly once the citizenship is obtained for submission of fingerprints. No, there is no residency requirement in Turkey either during the application process or after obtaining Turkish citizenship. You can keep living abroad after obtaining Turkey citizenship. Our Clients as well as their family members duly obtained Turkish Citizenships with property investment, bank deposit and through other alternative routes with our advice and under our guidance. Since not all countries allow dual citizenship, Turks must sometimes give up their Turkish citizenship in order to naturalise as citizens of another country.