Turkish Citizenship by Investment
Turkish Citizenship by Investment: How Does it Work?
The Turkish Citizenship by Investment (CBI) program allows foreign investors to acquire Turkish citizenship by making certain investments in Turkey. This program is regulated under the 106th Presidential Order, which outlines several qualifying investment options. Foreign nationals who meet one of the following criteria may apply for Turkish citizenship through investment:
- Purchase real estate worth at least 400,000 USD with a commitment not to sell it for three years.
- Invest at least 500,000 USD in a Turkish company.
- Deposit at least 500,000 USD in a Turkish bank and commit to keeping it there for three years.
- Employ at least 50 people in Turkey.
- Purchase Turkish government bonds worth at least 500,000 USD and hold them for three years.
Eligible investors can apply for citizenship not only for themselves but also for their spouse and children under 18 years old.
How Does the Process Work?
Once the investment is made, the process involves several steps:
- Eligibility Certificate: The investor’s attorney applies for this certificate, which confirms that the investment qualifies for the Turkish CBI program.
- Residence Permit: After receiving the eligibility certificate, the attorney applies for an investor’s residence permit on behalf of the investor.
- Document Procurement: During this time, the investor gathers the required documents, such as passport copies, birth certificates, marriage certificates, and biometric photos, with the help of their Turkish citizenship lawyer.
- Citizenship Application: The attorney submits the citizenship application for the investor and their eligible family members.
- Notification: Once the application is processed and approved, the investor is notified that they have been granted Turkish citizenship.
- ID and Passport: After receiving notification, the investor can apply for a Turkish ID card and passport.
How Long Does the Application Take?
Typically, the Turkish citizenship application process takes around 3-4 months once all required documents have been submitted. However, the timeline may vary depending on the time of year and the specifics of the application, with some cases taking up to six months.
Which Documents Are Required for the Application?
The necessary documents include, but are not limited to:
- Copies of passports
- Birth certificates
- Marriage certificate (if applicable)
- Power of attorney
- Biometric photos
- Family status certificate
These documents must be stamped with an Apostille as per the Hague Convention to be valid in Turkey. The family status certificate is important as it verifies the relationship between the investor and their family members. It is recommended to consult with a Turkish citizenship lawyer to ensure all documents are accurate and properly prepared.
How to Confirm the Eligibility of a Property for Turkish CBI?
To qualify for Turkish citizenship through real estate investment, the property must meet three specific criteria, with a value of at least 400,000 USD:
- The sale price paid by the buyer to the seller (via bank transfer).
- The property’s value as assessed by a certified surveyor.
- The amount declared by the seller at the title deed office.
Additionally, the seller of the property must be a Turkish citizen, and there should be no close family relation or company partnership between the buyer and seller.
Because this process can be complex, it is highly recommended to work with a specialized Turkish citizenship law firm. Our firm assists clients in navigating the legal intricacies of real estate investment, obtaining the required certificates, and ensuring a smooth application process for Turkish citizenship by investment.