Turkey has significantly reduced the number of bank investments and investments that foreigners wishing to obtain Turkish citizenship must-have in the country, according to a document published in the Official Journal recently.
Foreigners can now claim Turkish citizenship if they deposit at least $ 500,000 in a Turkish current account, as opposed to $ 3 million previously, or if they invest more than $ 500,000 in fixed assets, compared to $ 2 million currently.
They can also claim by recruiting 50 employees in Turkey, against 100 so far, or by acquiring real estate worth more than $ 250,000, rather than a million.
Previous amounts had been set in January 2017, in the hope of curbing the slowdown in the economy by attracting foreign investment to obtain Turkish citizenship.
However, the situation has deteriorated significantly, since the Turkish lira has lost about 40% of its value against the dollar.
Acquiring Turkish Citizenship Through Investment
The General Application Process
For other types of citizenship applications, you must apply through the local government office where you live in Turkey or through a consulate if you live abroad.
The required documents and types of applications will vary depending on your circumstances.
They may include but are not limited to, passport, birth certificate, residence permit, marriage certificate, Turkish identity number of relatives, photographs. Individual candidates will also have to attend an interview in Turkish.
The length of citizenship applications in Turkey will depend on the specific circumstances of the applicant, but updates can be obtained from the Ministry of the Interior.
Under the terms and conditions of Citizenship Law No. 5901, you can reapply to the governorship of your place of residence again if your application is rejected.
How does the citizenship application process work in Turkey?
When you buy properties worth over 250,000 USD, you contact the General Directorate of Cadastres (Tapu Office), asking you to obtain Turkish Citizenship.
After the application, they check the valuation report and the bank transfer documents. The Tapu Office approves citizenship within 3 to 7 days.
With this citizenship approval, you go to the Immigration Office the same day without waiting for an appointment for a temporary resident permit.
With the authorization and the residence permit, you finally go to the Directorate General of Population and Citizenship the same day.
After the request for tapu, the whole process is followed in a special information office on citizenship in Istanbul and Ankara.
They finalize the acquisition of citizenship in 30 days.
Main Steps for Turkish Citizenship by Investment
Every year, there are many foreigners who apply To obtain Turkish citizenship, there are several requirements that are necessary in order to obtain it.
- Open a Bank Account:
An account must be opened in a Turkish bank in the name of the investor.
- Make an Investment:
Make the necessary investment transactions such as the transfer of a title deed, a cash deposit, a purchase of bonds / shares, etc.
- Application for a Residence Permit:
Applicants must be in possession of a valid residence permit at the time of application for citizenship. Nevertheless, license holders can continue to live abroad as long as they wish.
- Turkish Citizenship Application:
Once your residence permit has been obtained, you can immediately apply for Turkish citizenship. A physical presence or interview is not required during the application process.
Documents Required for Turkish Citizenship Application by Investment
The documents required for Turkish citizenship Application by investment are as follows:
- Application form
- Valid passport
- Birth certificate
- 4 passport size photos of each member of your family
- If applicable, a copy of the Turkish identity document and address of the requesting family member in Turkey
- Application fee payment receipt
- Evaluation report
- The bank receipt must include a minimum payment of $ 250,000.
- Residence permit or tourist visa valid on your passport
- If applicable, documents proving your relationship with your spouse and your children (marriage license, birth certificate for children)
- The title deed or the notarial act of purchase of the real estate
