There are several investment options in Turkey for foreign citizens wishing to obtain a Turkish passport in a short time.
Depending on the foreigner’s choice of investment, it is possible to obtain Turkish citizenship within 4 to 12 months.
The main ways of obtaining Turkish citizenship for foreign investors for investments are the following;
Purchasing of real estate (apartments, villas, land up to 30 hectares, commercial premises), the total value of which will be at least 400.000 USD* (cadastral value). At the same time, the property acquired under citizenship must be purchased from a citizen of the Turkish Republic or a Turkish legal entity, where more than 50% of the share belongs to the founder with Turkish citizenship. The property purchased under citizenship must not be sold within 3 years (in the cadastral records it is necessary to note the corresponding notation), as well as this property should not previously be purchased for Turkish citizenship.
*The Turkish government has made new amendments to the law «On citizenship» (5901 Türk Vatandaşlığı Kanun). Since June 13, 2022, a change in the law «On citizenship» came into force, according to which a foreigner can now obtain Turkish citizenship in exchange for buying property worth at least 400,000 USD (previously there was 250,000 USD).
- Shares in an investment fund or business – invest in fixed assets of at least 500.000 USD or the equivalent of that amount in any currency. The main condition for the investor is that he is not entitled to transfer the acquired securities to third parties within 3 years.
- Opening of a deposit in the officially registered banks of Turkey and invest in of at least 500.000 USD or equivalent of this amount in any currency. The deposit can be opened in various financial institutions. The total amount in the various accounts opened in the banks of the country, can be any, but not less than 500.000 USD. The condition is to keep in the bank the amount of deposits for 3 years.
- Opening of a company and the provision of 50 or more jobs to Turkish citizens with a term of employment in the company/institution of at least 3 years.
- State bonds of a country – purchase of government bonds in the amount of 500,000 USD. After three years, the investor can sell or repay securities.
- Investment in the private pension system of Turkey not less than 500.000 USD or equivalent in foreign currency with the condition of deposit retention for 3 years.
Frequently asked questions
We receive many questions from our clients about the procedure of acquiring Turkish citizenship by purchasing the property. The procedure begins with the purchase of real estate, the cadastral value of which should be not less than 400.000 USD. Experts from the Ministry of Environment and Urbanization assess the suitability of the property and prepare an evaluation report. To complete the purchase process, it is necessary to obtain the Certificate of Conformity from the Ministry of Environment and Urbanization, the Land Cadastre Office and the General Directive on Foreign Investors. After receiving the Certificate of Conformity, it is necessary to apply for an investment residence permit for an investor. When a residence permit is issued, the last step is to apply for citizenship at the Department of Population and Citizenship.
At this stage, the correct execution of documents is very important, which will facilitate the further procedure for obtaining citizenship.
While registering the right to property, it is necessary to attach a notation on the prohibition of the sale of this property for three years (but it is not prohibited to rent it out). The notation must be properly executed so that in the future there will be no problems with obtaining citizenship.
Should the investor be in Turkey during the process of obtaining Turkish citizenship?
It is not necessary to present for the investor when applying for Turkish citizenship. For this purposes, at the stage of acquisition of real estate it is possible to issue a power of attorney, on the basis of which our team of experienced lawyers will help to draw up and submit the necessary documents. The presence of the investor will be necessary only at the final stage – when obtaining a Turkish passport.
