TURKISH CITIZENSHIP BY INVESTMENT
As of 19 September 2018 minimum investment limits for the acquisition of Turkish Citizenship have been dramatically decreased.
Foreigners are now able to acquire Turkish citizenship by buying a property in Turkey that is worth a minimum of $250,000.
The Spouse and children who are less than 18 years old shall also be granted Turkish Citizenship.
NEW INVESTMENT LIMITS
Buying real estate or real estate development projects at least at the amount of $ 250,000 and annotating in the land registry that the property shall not be sold for at least 3 (three) years. (Previously, the limit was $ 1,000,000)
Investing in the form of fixed capital at least at the amount of $ 500,000. (Previously, the limit was $ 2,000,000)
Depositing money into Turkish banks at least at the amount of USD 500,000 with the condition that such money shall not be withdrawn for at least 3 (three) years. (Previously, the limit was USD 3,000,000)
Providing employment for at least 50 (fifty) persons. (Previously, the limit was 100 (one hundred) Turkish citizens)
Buying government bonds at least at the amount of USD 500,000 with the condition that such bonds shall not be sold for at least 3 years. (Previously, the limit was USD 3,000,000)
Buying real estate investment trust share or venture capital investment trusts share at least at the amount of USD 500,000 with the condition that such shares will be kept for at least 3 (three) years. (Previously, the limit was USD 1,500,000)
BENEFITS OF TURKISH CITIZENSHIP
The applicant can have significant rates of interest provided that the bank deposit option is selected; or collect rents for 3 (three) years and sell a well-chosen property for a greater price provided that the real estate investment option is selected.
Turkish citizenship regulation allows multiple citizenship, there are no acceptance conditions that requires the applicant to renounce his/her previous citizenship.
The applicant’s spouse and the dependent children are also able to benefit the application for citizenship. (Dependent children are the ones under 18 years of age or the ones with mental incapacity.)
The Turkish citizenship is hereditary from the date of acquisition. So, the applicant can pass every privilege to his/her lineage. (Only exception is the situation that children are over 18 years of age at the date of acquisition.)
A Turkish passport holder can currently visit 68 countries totally visa-free and able to receive visa on arrival from 38 countries. There are also other countries that a Turkish passport holder can benefit an “e-visa”.
Check our video on the Power of Turkish Passport, below:
Some noticeable visa-free countries are;
Bosnia and Herzegovin
and much more...
Turkey has 229 diplomatic missions (such as embassies and consulates) in 166 different countries worldwide. (While Grenada has 29 diplomatic missions in 23 countries and St. Kitts and Nevis has 23 diplomatic missions in 18 countries)
Existence of a diplomatic mission is everything if an unpleasant situation arises in the visited country. Turkey is the 6th country in world in terms of the network of diplomatic missions.
Turkish citizens allowed to apply for; (i) U.S.A.’s E-1 and E-2 visas and (ii) U.K.’s “Ankara Agreement” program.
You can find our comprehensive video on the E-1 and E-2 visas of U.S.A. below:
The general procedure is divided into 3 (three) phases as; (i) investment, (ii) residency permit and (iii) Turkish citizenship. We are exemplifying the procedure by the scenario that the applicant chooses the most preferred application option; by investing in real estate, below. (After the completion of investment and the collection of related conformity certificate, the procedure goes same with the all investment options.)
Investing USD 250,000 in real estate by putting an addendum to the title deed ensuring such property shall not be sold at least for 3 (three) years is applicable for applying Turkish CBI program.
Due to the regulation, the selected property will be evaluated by expert companies authorized by the Capital Market Board in Turkey before the purchase. If the property's cost detected as USD 250,000 or more according to the evaluation; the applicant will be able to complete the purchase. The conformity certificate in relation with the investment shall be demanded and collected from the related authoritiy. (The conformity certificate is being issued from various authorities depending on the investment type.)
2- RESIDENCY PERMIT
With the conformity certificate and the related documents; the applicant is required to apply for special residency permit.
Our team schedules a mandatory interview that the applicant must attend in person (or be represented by an attorney) before the Migration Authority. (The interview is short and simple. Nobody asks about the source of funds.)
After submitting required documentation and completing the interview; the Migration Authority issues a special type of residency permit, approximately in 2 weeks.
3- TURKISH CITIZENSHIP
After the successful issuance of residency permit; our team collects and prepares final documentation to make the finalizing application to Directorate of Civil Registration and Nationality. The directorate check the document bundle and sends it to the General Directorate in Ankara. Then, National Intelligence Service, Financial Crimes Investigation Board and Security General Directorate runs an investigation on the applicant's background.
After the investigation is completed; the application file is being sent to the Presidency of the Turkish Republic for the finalizing decision. And, following the finalized decision of Presidency; the applicant becomes a Turkish citizen.
We, as the experinced lawyers of KOOBY Law & Consultancy Firm, are proud to provide client-oriented services about citizenship application and further legal consultancy.
We sign Legal Services Agreement (“LSA”) that consists non-disclosure terms and mutual obligations with our clients, then operate with a special Power of Attorney (“PoA”) in Turkey to enable us to act on their behalf in Turkey to ease the application process to the greatest extent possible.
Our services in Turkey are divided into 3 (three) parts in line with the nature of official procedure as; (i) investment, (ii) residency permit and (iii) Turkish citizenship. You can find a list of services due to the “property purchase scenario” listed below:
Collecting the client's potential tax ID number.
Finding the real estates that are fitting your preferences via our real estate agency partners.
Visiting the most beneficiary real estates with VIP cars that selected due to your preferences.
Providing detailed legal guidance, assistance and consultancy during the investment, depending on the type of investment.
2. Residency Permit:
Collecting the Conformity Certificate from the related authority about the investment.
Collecting the required documents from applicants.
Commencing the application process before Migration Authority for the J type residency permit due to Law No. 6458.
Assisting (or attending solely, if the special PoA is provided) through applicant’s interview with the authority.
3. Citizenship Application:
Applying to Provincial Directorate of Civil Registration and Nationality with the documentation bundle and following the application file, in person; until the publication of finalizing Presidential decision.
Filing a suit before the court of first instance against the government in the event that a denial arises. (That is a unique and inclusive service that only can be provided by an attorney.
WHY WORKING WITH A LAWYER?
We present you a service fully performed by attorneys who are qualified in Turkish Law and registered to the İzmir Bar Association and Turkish Bar Association.
After the signing of Legal Services Agreement and the issuance of the Power of Attorney; in the event that you think we are not fulfilling our “Duty of Care” obligation you’ll have the right to file a complaint against us through Turkish Bar Association, which may lead us to forfeit our licenses.
None of the real estate agencies or normal consultancy firms doesn’t have such responsibility.
In Turkey, many service providers are -declared or disguised- real estate agencies that operates with the sole purpose of selling you a property from their portfolio or project. In the event that you choose to work with one of those -so called- "consultancy" agencies; the agency will find an ordinary attorney to do the paperwork, who has no obligation to defend your rights.
We will carry out the due diligence for your actions and transactions and are also obliged to defend you against third parties.
A random attorney who is picked by the real estate or -so called- "consultancy" agencies can do anything with your personal documentation.
We stand behind and guarantee our services. In case of the refusal of the application; you will also benefit our “dispute resolution and litigation” services through administrative justice (court of first instance) without any extra service fees charged. This is the best service guarantee that an attorney can provide.