A minimum spend of $400,000 US in immovable property in Turkey allows you to apply for the citizenship by investment scheme. This means you, your spouse and children under the age of 18, could qualify for a Turkish passport.
Turkey’s citizenship for property investment scheme has proved extremely popular since amendments were made to the legislation, and the qualifying amounts were reduced. The process is fairly straightforward, and the Angel Homes team can help you apply for Turkish citizenship once you have purchased a suitable property or portfolio with us. See below the details you need to know.
WHO QUALIFIES FOR THE CITIZENSHIP BY INVESTMENT SCHEME IN TURKEY?
Foreigners who spend over $400,000 on immovable real estate in Turkey should qualify to apply for Turkish citizenship. Once the application is successful, Turkish passports and ID cards are then granted to the applicant, their husband or wife, and children under the age of 18. Turkish citizenship lasts for life, and you can hold multiple citizenships.
Terms and conditions apply:
- The legislation requires a minimum spend of 400,000 US (or Turkish Lira equivalent) on real estate in Turkey. The investment can be a single purchase or spread over multiple properties.
- The spend is worked out based on the amount shown on the Title Deed (TAPU), as determined by an official valuation.
- The property investment(s) are to be kept for at least three years, a term written on the TAPU and stipulated in the contract. You are free to sell the property once the three years has expired.
- The purchase sum must move directly from the buyers to the seller’s account via bank transfer, creating a direct paper trail and proof on receipts.
- The citizenship application must be sent to The Ministry of Internal Affairs, Directorate of Foreigners Department, General Directorate of Population and Citizenship Affairs, and the Land Registry Office.
HOW TO APPLY FOR THE TURKISH CITIZENSHIP BY INVESTMENT SCHEME.
The process involved is straightforward, and Angel Homes is on hand to help every step of the way.
Step 1. Organise your Turkish tax number. A tax registration number can be obtained at any tax office in Turkey. Angel Homes normally take you to the Fethiye tax office and help you register – please bring your Passport and additional proof of identity e.g. Driving License.
Step 2. Open a Turkish bank account. A Turkish bank account is necessary to process the property payment and ensure a legal paper trail. Your consultant will take you to a local Turkish bank and walk you through the process, which typically takes less than an hour. You should take your Turkish tax number, Passport and a proof of your permanent address, e.g. a utility bill or statement.
Step 3. Find a suitable property. Look at the Angel Homes website and speak to our team to come up with suitable options for investment. The property should be worth over $250,000 once an official valuation is carried out. It should be complete or nearing completion, have its Title Deeds in place, and a habitation certificate.
Step 4. Purchase the property. Angel Homes will walk you through the entire buying process. To qualify for the citizenship application, the property should be purchased via bank transfer, receipts obtained, and the Title Deed must stipulate the property cannot be sold on for at least three years.
Step 5. Obtain a Certificate of Conformity. In order to receive this certificate from the Ministry of Environment and Urbanisation, the bank transfer details and receipts, plus the official valuation of your new home, should be sent to their office.
Step 6. Apply for Turkish residency. Before receiving your citizenship, you should apply for Turkish residency. Angel Homes will advise you on the necessary documents and help you during the process.
Step 7. Apply for Turkish Citizenship. Once all the documents are in place, you can then submit your application for Turkish citizenship to the Directorate General of Migration Management.
OTHER WAYS TO QUALIFY FOR CITIZENSHIP IN TURKEY
- Deposit over $500,000 US in a Turkish bank account.
Another way to qualify for citizenship in Turkey is to deposit a minimum of $500,000 US (or equivalent in Turkish Lira or other currency) in a Turkish bank for at least three years. The deposit should not be spent within this period.
- Invest over $500,000 US in government bonds.
You can also qualify for citizenship in Turkey if you purchase Turkish Government Bonds and Bills worth over $500,000 US and keep them for over three years.
The information is at time of going to print, for updated information please contact ANGEL HOMES for advise.
If you would like any other information on the citizenship for investment scheme in Turkey, please CONTACT ANGEL HOMES.