The Türkiye Citizenship by Investment Program (previously named the Turkey Citizenship by Investment Program) was launched in January 2017 to attract foreign direct investment to and boost growth in the country’s real estate sector. The program allows applicants to choose from a number of different types of economic contributions to Turkish society, thereby developing the country’s economy.
With the city of Istanbul embracing Europe and Asia on the Bosphorus Strait, Türkiye is a transcontinental Eurasian country. Its location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance.
Benefits of the Türkiye Citizenship by Investment Program
- Visa-free or visa-on-arrival access to over 110 destinations including Hong Kong, Japan, and Singapore
- Citizenship of a country that enjoys a mild Mediterranean climate, beautiful scenery, and a high standard of living
- Full citizenship granted to the applicant and included family members
- Eligibility for an E-2 Investor Visa in the USA for a five-year renewable period
- Access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East
Requirements of Türkiye citizenship by investment
To qualify for citizenship, the main applicant should fulfil one of the following investment requirements:
- Acquire at least USD 400,000 worth of real estate
- Invest a minimum of USD 500,000 fixed capital contribution
- Deposit at least USD 500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account
- Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into government bonds
- Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into real estate investment fund share or venture capital investment fund share
- Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into a private pension system for a minimum holding period of three years
- Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services
The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.
Procedures and time frame of the Türkiye Citizenship by Investment Program
After applicants have chosen the qualifying investment option, a residence permit application shall be made on the family’s behalf. The main applicant is then required to open a bank account in Türkiye.
Once all application documents have been prepared (including applicable certifications and translations), the investment can be completed and the documents submitted to the government. Once the application has been received by the government, the review process will begin and an interview may be requested. Applications are typically approved within 120 days, following which the citizenship documents are issued. The passport application can then be submitted.
Please note that Turkish gift and inheritance taxes apply to worldwide assets held by Turkish citizens. We recommend that you seek appropriate professional advice in this regard.
