Turkish Citizenship by Investment

Getting Turkish citizenship through investment takes place within the framework of a set of conditions and procedures, referred to in the Naturalization Law amendments 2022, ratified by Turkish President Recep Erdogan early this year.

In this article by Binaa Investment, the ways to get Turkish Citizenship by Investment are reviewed; Whether by purchasing a property, investing in fixed assets, bank deposit, or employing Turks, with an illustration of the procedures and conditions for getting citizenship through real estate investment in light of the recent amendments.

Advantages of Turkish citizenship

• The holder of Turkish citizenship has citizen rights and permanent residence on Turkish territory, with no need to renew a residence permit or get an entry visa.
• Benefiting from the public services provided to citizens, in the field of health, education, and others, in addition to being supported by the government.
• Getting the Turkish passport, which ranks 50th on the list of the most powerful passports in the world; it gives the right to keep the nationality of origin, besides having a validity of 10 years, with easy renewal.

Turkish Citizenship by Investment

A foreign investor can get Turkish citizenship through one of the following ways:

1-   Turkish citizenship by real estate investment

Buy one or more real estate units of at least 250 thousand US dollars, and start the procedures for getting citizenship for you and your family, provided that the property remains in your possession for three years; at that period, you can benefit by leasing it.

2-   Turkish citizenship by bank deposit

You can get citizenship via bank deposit or purchase of government bonds.

By depositing $500,000 in a Turkish bank for 3 years or buying government bonds of the same value, but also keeping them for three years.

3-   Turkish citizenship by fixed investment

An investment in fixed assets of $500,000 qualifies you to get Turkish citizenship. This type of investment is under the supervision of the Ministry of Industry and Technology.

4-   Turkish citizenship by employing Turks

Concerning a foreign investor, who established a company on Turkish soil, he can get citizenship after employing a minimum of 50 Turkish citizens. The procedures are carried out under the supervision of the Ministry of Labor and Social Security.

The required documents for naturalization in Turkey 2022

Some official documents and papers are submitted by the foreigner to the government departments, according to which the procedures for getting Turkish citizenship are completed, including what is being extracted from the investor's country, and another from government departments in Turkey.

Of course, some documents differ according to the type of application submitted for getting citizenship. However, talking about the required documents for citizenship through real estate investment under the amendments to the Turkish Citizenship Law 2022, are as follows:

• An official receipt for transferring the property value in US dollars to the Central Bank of Turkey.
• A receipt for transferring the property price in Turkish lira from the buyer's account to the seller's account.
• A translated copy of the passport and certified by the notary
• Translation of the birth certificate and certified by the notary public.
• A copy of the title deed of the real estate "Tabu"
• Real estate appraisal document

Turkish citizenship procedures through real estate investment

If you would like to get Turkish citizenship through real estate investment, the Binaa Investment Company team of lawyers and real estate advisors will be with you step by step, starting from choosing the right property among a range of offers from major Turkish construction companies.

We also assist you in the purchase procedures and transferring the ownership of the property in your name. Thus, we immediately start submitting the file of naturalization that meets the conditions to the concerned authorities, according to which you get Turkish citizenship.

That was a quick presentation of the ways to get Turkish citizenship through investment, besides the required documents for the file of naturalization through real estate ownership in Turkey. For more information, please contact us.

Edited by: Binaa Investment©