A dual-citizenship is not only a bonus for an investor with access to many benefits of living in another country but is also an effective investment tool.
From this point of view, we want to consider citizenship in Turkey, the conditions, and the process of obtaining it.
Content:
- Benefits of Turkish citizenship
- Conditions for obtaining citizenship by investing
- The process and requirements for obtaining citizenship
- Conclusion
Benefits of Turkish citizenship
The Citizenship by Investment program was launched in 2018.
This process is simple, and you only need one form to make the adjustment. Having invested in real estate or business, you only have to provide the necessary documents and wait a few months.
You can do it remotely and not be personally involved in the process as it is acceptable to find a suitable company that will act on your behalf.
Citizenship should be considered in close conjunction with obtaining long-term residency, as it is the same thing, except for minor differences in rights and responsibilities.
Investors renounce citizenship in favor of long-term residence, because they receive the same freedoms as citizens without obligations.
These processes are regulated by several laws. One of the main ones being Law No. 6458 "On Foreigners and International Protection". Article 44 states that foreign nationals who have received a long-term "Residence permit" (it is also a "Long-term resident visa") enjoy the same rights as Turkish citizens, except for:
- Voting rights;
- Compulsory military service;
- Work in government organizations;
- Exemption from taxes on the import of vehicles.
However, we should talk about citizenship and its benefits.
First, a Turkish citizen can visit 111 countries of the world without a visa or with a "Visa on arrival". This is not an exhaustive list of available destinations:
| Country | Country |
|---|---|
| Singapore | Hong Kong |
| Japan | South Korea |
| Brazil | South Africa |
| Australia | Thailand |
| Great Britain | Morocco |
| Serbia | Argentina |
| Indonesia | Colombia |
From the point of view of investor benefits, Turkish citizenship allows you to apply for a US investor visa E-2 for 5 years.
There is no minimum investment amount for E2 in the country, it can include all family members, and all you need to do is open a business in the United States of America.
It is the citizenship of Turkey, which is part of the agreement on this visa, that allows investors to receive E-2 for five years and renew it many times.
Citizens of countries not included in the E-2 agreement can obtain this visa only for a year without its extension.
Turkish citizenship also provides free access to medical services in the country. These services apply not only to the holder of citizenship but also to his family.
It is impossible to ignore the pension program and the program of free education at universities in the country.
Of course, citizenship removes from the investor most of the bureaucratic obstacles that he would face as a foreigner.
Citizenship is inheritable. Along with all of your property, it is impossible to take away. The only way to deprive you of citizenship is to prove that you have committed treason against Turkey.
Most likely, you will not do this and, having received citizenship, you will remain a citizen forever.
A residency is an option for those who do not want unnecessary obligations
As we mentioned above, you can renounce citizenship and choose long-term residence in Turkey.
You receive a renewable Residency Permit for 10 years and are excluded from most of the obligations that citizens of the country have.
On the other hand, a long-term residence permit is not inherited, which means that it can be taken away if you do not meet the requirements or are persona non grata.
You may have to deal with some obstacles, as you are considered a foreigner, although you permanently reside in the country.
Visa-free travel to other countries and E-2 are also unavailable to you.
Conditions for obtaining citizenship by investing
You can get citizenship in two ways; investment in business and investment in real estate.
Real estate investments
To get citizenship for investing in real estate, you have three options:
- Purchase a property for $250,000 or several housing units, the total value of which reaches this amount. The money for the purchase of real estate should not be taken on credit.
- Invest $500,000 in a real estate investment fund.
- Invest $500,000 in a real estate business (this can be considered as citizenship for business investments, but we will indicate this here).
You can invest in both dollars and Turkish lira or any other types of foreign exchange equivalent to these amounts.
Business investments
You can also invest in business:
- Invest at least $500,000 of your capital in the Turkish economy.
- Invest $500,000 in a Turkish bank or purchase government bonds.
- Create a company providing at least 50 jobs for Turkish citizens.
- Transfer your own production facilities to Turkey or provide significant economic assistance in science, technology, social services, sports, culture, or art.
The same condition applies to investments in that all invested funds must belong to the investor and not be taken on credit.
Investments can be made in dollars, lira, or any other currency in an equivalent amount.
The process and requirements for obtaining citizenship
Having satisfied one of the above requirements, you must obtain a Certificate of Conformity, a short-term residency permit, and citizenship.
A short-term residency permit is specified as a condition in Article 31/1-j of the Law "On Foreigners and International Protection".
Nevertheless, as stated in the same law, all the necessary documents and procedures can be completed remotely and through the intermediary of a trusted person (firm).
A certificate of conformity is a confirmation that you have invested funds and is used to apply for citizenship.
For each investment method, there is its procedure for obtaining a Certificate, for which a separate state institution is responsible, for example:
- When investing $500,000, you will receive a Certificate through the Ministry of Industry and Technology.
- For an investment of $250,000 in real estate, you need to contact the Ministry of Environment and Urbanization, the General Directorate of Land Registry and Cadastre, and the Department of Foreign Affairs.
- For a contribution to the real estate investment fund, you must contact the Central Registry Agency and the Capital Markets Board.
You can get a short-term residency permit both by visiting Turkey in person and online, for this purpose, there is a special E-Residence system.
In case of online registration, it is necessary to submit all documents to the General Directorate of Migration Management.
Your legal representative in Turkey can also issue a permit on your behalf.
The deadline for approval of the application does not exceed 90 days from the date of the application for a permit.
Holding a Certificate of Conformity and a short-term residency permit, as well as all the necessary documents, you can apply for citizenship in your name.
Subsequently, this citizenship can be extended to your family members (parents, spouse, and children under 18).
The application for citizenship is submitted to the offices of the Migration Administration in Istanbul and Ankara or to the Provincial Directorate of Population and Citizenship in any other part of the country.
The application is approved by the state institution and the President corresponding to your investments.
Conclusion
Obtaining citizenship and a long-term residency permit are similar. We have discussed the sequence of actions above. It is advisable to become aware of the nuances of drafting and processing the document.
However, any legal or consulting company will help you deal with this and mediate on your behalf.
As an investor, you will only need to make the necessary investments and provide all the documents so that later the representative can draw up all the necessary paperwork and submit an application to the authorities.
The time spent on obtaining citizenship will not exceed 6 months.