How Long Does it Take to Get Turkish Citizenship by Investment?
Turkish Citizenship by Investment
This article explains; “How long does it take to get Turkish citizenship by investment?” question in detail. That’s one of the most asked questions on the internet for foreigners wanting to get Turkish citizenship.
Applying for a foreign nationality is not an easy task. It’s a big decision, a big step towards your future. However, it doesn’t have to be stressful or time-consuming. If you’re looking for citizenship in Turkey through investment, you’re in the right place. Through this article, we aim to clarify your doubts and present you with an answer to the frequently asked questions (FAQs) to the Turkish citizenship act, such as; if you need to wait for three years after investment to be allowed to apply for Turkish citizenship.
How Long Does It Take to Get Turkish Citizenship by Investment?
Turkish citizenship is one of the most easily acquired citizenship that can be applied for without facing many difficulties. If you’re a foreign individual, and you are applying for Turkish citizenship through investment, there are a few formal procedures you need to follow and you’re all set.
Getting Turkish Citizenship by Investment
As per the directions of the Grand National Assembly of Turkey, Turkish citizenship can be offered to foreign individuals wishing to gain Turkish citizenship by investment. Since 2016, the Turkish Nationality Law has amended itself, making Turkish citizenship available to foreign nationals through investment in real estate in Turkey or bank deposits. Earlier, this could be done only through naturalization. Under the new law, anyone complying with the investment guidelines can apply for Turkish citizenship and enjoy Turkish citizenship privileges.
The applicant, after approval from the government, will be offered residency within the nation and a license to work as a Turkish individual. Also, he or she will be provided with a Turkish passport. The spouse of the applicant along with children under the age of 18 can benefit from this law too. The Turkish Nationality Law was initially based only on relationships by blood. This allowed individuals born to either or both Turkish parents to be automatically identified as Turkish citizens. This law still can be benefited by foreign individuals with either or both parents of Turkish origin. This also allows them to opt for dual citizenship.
How Can I Get Citizenship by Investing in Turkey?
Investing in Turkish real estate or government bonds is a really good idea to begin your application for Turkish citizenship, and with the new investment laws setting in, it’s the best time to be applying for Turkish citizenship through investment. Law No. 5091 of the new Turkish citizenship act allows investments made by foreign individuals to apply for Turkish citizenship. Here are some eligible ways to invest in Turkey.
Frequently Asked Questions (FAQ)
Turkish Citizenship Through Fixed Capital Investments
If you have considerable knowledge of the fixed capital market, there isn’t a better way to invest securely. The Turkish government has considerably reduced the minimum fixed capital of $500,000. The minimum amount used to be $2 million. The Turkish Ministry of Industry and Technology supervises the investments and a Turkish passport is issued to the investor/applicant in three months.
Can I Get Turkish Citizenship by Buying a House in Turkey?
With real estate investments slowly gaining popularity around the globe, this has become one of the most sought-after options by foreigners applying for Turkish citizenship. The investment has been reduced to $250,000 from the $1 million. Holding the property for three years will ensure you a Turkish nationality without any obstacle.
Turkish Citizenship by Investment in Industrial and Technology Centres
Turkey Ministry of Industry and Technology opens the opportunity before you to apply for Turkish citizenship. A Turkish passport is issued for the applicant in three months upon an investment of $500,000 or more.
How Long Does It Take to Get Turkish Citizenship by Job Creation?
If you’re not very comfortable in capital or real estate investments, this can be one of the simplest ways to apply for Turkish citizenship via investment. As an entrepreneur, all you need to do is create employment for at least 50 individuals, which means opening a business in Turkey. A Turkish passport will be issued in three months.
How Long Does It Take to Get Turkish Citizenship by Bank Deposits?
If you’re not a fan of investments altogether, bank deposits should be the most feasible option for you. All you need to do is have a deposit of $500,000 to a Turkish bank. After three years, you’re free to withdraw the amount and get your Turkish citizenship.
How Long Does It Take to Get Turkish Citizenship by Investing in Government Bonds?
Investing in government bonds is the secure and safest way of making investments in Turkey. Financial risks can be easily avoided on government bonds. However, you’re required to hold onto government bonds equivalent to $500,000 for three years. Turkey’s Ministry of Treasury and Finance can approve your investments for issuing your Turkish passport.
Turkish Citizenship by Investment in The Tourism Sector in Turkey
Tourism is one of the up-and-coming areas that guarantee a safe and worthy investment in Turkey. Turkey is known for its rich cultural heritage and scenic beauty that attracts millions of tourists all year long, and an investment in the Turkish tourism sector is a great way to proceed with your application for Turkish citizenship by investment.
Do I Need to Wait For Three Years After Making an Investment in Turkey to be Eligible to Apply For Turkish Citizenship?
No, there is no such requirement that needs you to wait for three years after investing in Turkey for Turkish citizenship. Once an investment has been made, the Turkish government issues a Certificate of Conformity against which you can apply for Turkish citizenship. Turkish passport(s) for the applicant, his or her spouse, and underage (18) children are issued within three months. Some forms of investments, such as; property acquired through real estate investments or government bonds or bank deposits need to be held for three years. They, however, have no effect on the application process, which can be done immediately after the investment in Turkey has been made.
Turkish Citizenship through investment benefits the applicant in several ways. The process is handled with utmost efficiency. Turkish citizenship entitles the applicant visa-free travels to almost 125 countries across the globe. An individual with Turkish citizenship by investment enjoys every right and perk that is enjoyed by an individual of Turkish origin. This includes free education and healthcare for children and free health coverage and pension schemes for seniors. As a Turkish citizen, you can also benefit from the absence of inheritance tax, or tax on international earnings. These rights can be enjoyed over their lifetime by individuals with Turkish citizenship through investments.