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Receiving a Turkish Passport Via the Purchase of Real Estate in Turkey
In this article, you will learn about receiving a Turkish passport Through the purchase of a real estate in Turkey. If you are considering buying land in Turkey, then you are eligible for applying for a Turkish passport and receive Turkish citizenship.
Holding a Turkish passport is a great thing since Turkish citizenship is one of the most popular citizenships in the world. The life and work culture of Turkey, along with the other important factors, make Turkey one of the most sought-after countries. The co-existence of various religions under the same roof in a peaceful manner is what makes Turkey a sought-after destination for many foreign visitors and investors.
How Long Does It Take From The Date of Property Purchase Until I Receive A Turkish Passport?
If you are planning to live and work in Turkey permanently, you need to apply for Turkish citizenship and a Turkish passport. There are many options available in Turkey through which you can apply for a Turkish passport and citizenship. If you choose to invest in real estate in Turkey and that opt for Turkish citizenship by the Turkish investment program, you need to hire a reputed law firm.
There are several law firms in Turkey that have a professional real estate team that helps foreign investors in finding properties worth investing in. You too can hire such a law firm and expedite the process of investing in a property for getting a Turkish passport.
Turkish Citizenship by Investment Program
If you’re planning to reside in Turkey shortly, there are several ways in which you can apply for Turkish citizenship by the investment program. One of the options within this program is to make an investment in Turkey worth $250,000.00 or more for real estate.1 The amount of $250,000.00 is mentioned in Turkish law and it’s the minimum amount that you can invest in a property in order to receive Turkish citizenship.
What are some of the Ways of Obtaining a Turkish Passport by Investment?
One of the most convenient ways of getting Turkish citizenship by investment is by investing in real estate. You need not wait for several years for Turkish citizenship and passport when you can invest in real estate worth $250,000.00 and get it right away. You need to retain the property for the next three years.
You can also buy land in Turkey too. Annotation is written in the registry of the land mentioning the reason for investment. You can also purchase a real estate property whose title deed is not yet issued. The contract for such a property should be prepared by a notary. You have to retain the contract for the next three years.
How to Obtain a Turkish Passport After a Property Purchase in Turkey?
Once you have purchased a property in Turkey, you need to go through the process of registration and documentation of the property. Take help from a good and reputed law firm that can take care of all your legal documentation. They will sign a service agreement with you and create an application file with all the basic documents. They will also help you with the generation of the Turkish Tax ID Number.
At this stage, you need to sign the power of attorney with the law firm. You also have to open a bank account in Turkey. You need to transfer the money required to purchase the property to your bank account in Turkey. Next, the money will be invested for Turkish citizenship by the investment program. The law firm will take care of all the documentation and finalize the deal for you. Once your property deal is finalized with proper documentation, you get an edge in Turkish citizenship through the investment program.
How Long Does It Take From The Date Of Property Purchase Until I Receive A Turkish Passport?
The process of choosing and purchasing the property takes around four to six months to complete. Once the property is registered in your name, it takes around four months to acquire Turkish citizenship by investment and receiving a Turkish passport. Getting Turkish citizenship by investment also requires you to furnish other, necessary yet basic, documents like; a birth certificate, residence permit, marriage certificate, etc. You would be interviewed by Turkish officials before being granted Turkish citizenship by investment and receiving a Turkish passport.
Any other Methods by Which You Can Apply for Turkish Citizenship by Investment?
- Apart from investing in property, you can also deposit $500,000.00 in a Turkish bank to apply for Turkish citizenship by investment program,
- You can also make a $500,000.00 fixed capital investment,
- You can also invest by purchasing government bonds and debt instruments worth $500,000.00,
- You can start a business in Turkey and employ at least 50 people in your business to earn Turkish citizenship by investment,
- You can also purchase the shares for real estate investment fund participation,
- You can also purchase the shares for venture capital investment fund participation,
For all the above investments, you need to retain the investment for the next three years.
Some Important F.A.Q.’s Regarding Turkish Citizenship by Investment
Can I Purchase Commercial Properties in Turkey and be Eligible for the Turkish Citizenship by Investment Program? Yes, no matter what kind of property you invest in, you are eligible for Turkish citizenship by investment program provided the investment value is a minimum of $250,000.00.
Do You Need to Visit Turkey to Obtain Turkish Citizenship by Investment? No, due to international travel restrictions in different countries, a foreign investor doesn’t need to visit Turkey for purchasing a property. You can always set up a Turkish bank account remotely with the help of a reputed law firm and start the process rolling. The law firm will take care of all the legalities and the documentation. They will also take care of the property purchase and citizenship details for you.
How Many People Can Apply for a Single Title Deed? Only one person will be considered as an applicant for Turkish citizenship by investment program. The individual can, however, apply for the citizenship of his/her entire family, including his/her spouse and children who are below 18 years of age.
Which Nationalities Can Apply For Turkish Citizenship By Investment? Regardless of which country you originally belong to, you can apply for Turkish citizenship by investment provided you can invest $250,000.00 in real estate or land.
When You Become a Turkish Citizen, Do You Need to Complete the Mandatory Military Service in Turkey? If you have children below 18 years of age, they will have to complete military service once they reach adulthood. If you are more than 22 years of age, you need to ask during the application stage, whether there is any special condition involved regarding military service.