Pension System in Turkey For Naturalized Turkish Citizens
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Pension System in Turkey
This article briefly explains the pension system in Turkey for naturalized Turkish citizens. Who wouldn’t like to settle down in a country that is peaceful and offers all the perks of a simple happy life? The answer is everyone, and, this is exactly what Turkey offers. It’s a beautiful country with amazing locales, sumptuous food, friendly people, wonderful culture, and rich history. Living in Turkey is synonymous with living in a dream.
Moreover, the location of Turkey is strategic too. It serves as the bridge between Asia and Europe. Hence, by becoming a Turkish citizen, you have much to achieve. But how do you become a Turkish citizen? And, what are the benefits you can get by becoming one? How can you benefit from the pension system in Turkey? This article aims to answer all your questions regarding citizenship in Turkey.
Related Article: How to Get a Residence Permit in Turkey?
How Can I Get a Turkish Citizenship?
Becoming a Turkish citizen has become a piece of cake, thanks to the amendments made to the Turkish Nationality Law in 2016. With this amendment, any foreign national can become a citizen by investing in Turkey. The investment program that allows foreign nationals to do so is called; “Turkish citizenship by investment” and has seen numerous people from all around the world becoming Turkish citizens through investment.
Turkish Citizenship by Investment
As the name suggests, the program simply allows foreigners to apply for Turkish citizenship by investing in the country. There are quite several different ways you can invest in Turkey and thereby apply for citizenship in Turkey and they are:
Real Estate Investment: You can choose to invest in real estate in Turkey. However, the catch is that you must invest at least $250,000 in property and hold it for three years minimum to be eligible to apply for citizenship in Turkey.
Related Article: Turkish Citizenship By Real Estate: New Rules and Steps.
Fund Sharing: If investing in a property or the capital market is not your cup of tea, you can also become an investor in Turkey through venture capital fund sharing schemes. If you choose this option you have to make a minimum investment of $500,000.
Capital Investment: Another way to become a Turkish citizen is to invest in the capital market of the country. But you would need to fork out a minimum of $500,000 to become a citizen of Turkey by this process.
Create Jobs: One of the greatest ways to become a Turkish citizen is to start your venture. Meaning, become an entrepreneur in Turkey and provide jobs to at least 50 Turkish people. You will automatically become eligible to apply for citizenship in Turkey.
Bank Deposit: Many people are intimidated by the equity market and do not want to take the risk of investing in properties. There is an option to become Turkish citizens for such people too, and that is through bank deposits. Make a bank deposit of a minimum of $500,000, keep it for at least three years, and voila! You are now eligible to apply for Turkish citizenship.
Government Bonds: People who want safer methods of investment, can choose to buy Turkish government bonds instead. All you have to do is invest a minimum of $500,000 in government bonds and hold them for at least three years. You will be eligible to apply for Turkish citizenship.
If you want to become a Turkish citizen by any of these procedures, retire in Turkey and benefit from the pension system in Turkey, and need legal aid, our legal firm in Turkey can help you out.
The Terms and Conditions To Become a Turkish Citizen
Even if you invest in Turkey and become eligible to apply for citizenship in Turkey, you still have to fulfill certain prerequisite conditions, such as:
- You should not have any criminal records in any country whatsoever. Your background would be thoroughly checked before your application for Turkish citizenship is accepted by the government,
- You need to submit all your identity and background-related documents for checking purposes before your application to become a Turkish citizen is accepted. The documents will include; your identity proof, your educational and professional background, your marriage or proof of divorce, and so on.
- You might also be asked to submit proof of your investments in Turkey for verification.
If you fulfill the above criteria and all your documents are in place, your application for Turkish citizenship should be accepted within a short while. You are then welcome to live in Turkey and enjoy all the benefits offered to its citizens by the country.
Pension System in Turkey For Naturalized Turkish Citizens
Turkey is a country of happy people because it has a government that goes out of its way to take care of its people, which is also the case of the pension system in Turkey. Once you acquire Turkish citizenship, you would become entitled to enjoy the benefits enjoyed by all its other citizens too. The Turkish government doesn’t discriminate among its citizens. So, the most important perks you would enjoy as a Turkish citizen among many others are as follows:
- The biggest benefit is you can get retired in Turkey and receive a pension from the Turkish government. Isn’t that wonderful? You can spend the rest of your life free of all worries and just soak in the beauty of the country.
- As a Turkish citizen, you will also be entitled to free education for your children and free healthcare for yourself as well as all your family members.
- Did you know that you can also travel visa-free to more than 110 countries around the world when you hold a Turkish passport? Yes, by gaining Turkish citizenship, you will also acquire a Turkish passport, which is quite strong globally.
- Also, as a Turkish citizen, you do not need to declare your international earning or pay tax on them to the government. They are entirely yours to keep.
Become a Turkish Citizen Today
So, what are you waiting for? Take this opportunity to become a part of one of the happiest countries in the world. Just take advantage of the Turkish citizenship by investment program and become a Turkish citizen today. The perks you would receive far outweigh the amount you would need to invest to be eligible to become a Turkish citizen. It’s so worth it! Also, the pension system in Turkey will help you with great benefits when you are older and ready to retire.