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Turkish Citizenship

Turkish Citizenship by Investment: Unlocking Opportunities in Turkiye

Are you looking to expand your horizons and gain access to both the European and Asian markets? Look no further than the Turkiye Citizenship by Investment Program. This program offers a unique opportunity for investors who wish to contribute to Turkiye's economy and enjoy the benefits of Turkish citizenship. In this comprehensive guide, we will explore the various investment options, requirements, and procedures involved in acquiring Turkish citizenship through investment.

Benefits of Turkish Citizenship by Investment

Investing in Turkish citizenship comes with a multitude of advantages:

1. Visa-free travel: Holders of Turkish citizenship can enjoy visa-free or visa-on-arrival access to over 110 destinations, including popular business hubs such as Hong Kong, Japan, and Singapore.

2. Quality of life: Turkiye, with its mild Mediterranean climate, breathtaking scenery, and high standard of living, offers a desirable lifestyle for individuals and families alike.

3. Full citizenship for the family: The Turkiye Citizenship by Investment Program extends citizenship benefits not only to the main applicant but also to their spouse, dependent children below the age of 18, and children living with disabilities.

4. Access to the E-2 Investor Visa: Turkish citizenship opens the doors to the highly sought-after E-2 Investor Visa in the United States, allowing investors to reside and conduct business in the country for a renewable period of five years.

5. Geostrategic location: Turkiye's strategic position at the crossroads of Europe and Asia makes it an economic, financial, and political hub, presenting endless opportunities for investors.

Investment Options for Turkish Citizenship

To qualify for Turkish citizenship, applicants must fulfill one of the following investment requirements:

1. Real Estate Investment: Acquire at least $400,000 worth of real estate in Turkiye.

2. Fixed Capital Contribution: Make a minimum fixed capital contribution of $500,000.

3. Bank Deposit: Deposit at least $500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account.

4. Government Bonds: Commit a minimum of $500,000 or equivalent foreign currency or Turkish lira into government bonds.

5. Investment Funds: Invest a minimum of $500,000 or equivalent foreign currency or Turkish lira into real estate investment fund shares or venture capital investment fund shares.

6. Private Pension System: Allocate at least $500,000 or equivalent foreign currency or Turkish lira into a private pension system for a minimum holding period of three years.

7. Job Creation: Create employment opportunities for at least 50 people, as attested by the Ministry of Family, Labour, and Social Services.

Procedures and Timeline for Turkish Citizenship by Investment

Once you have chosen your preferred investment option, the process of acquiring Turkish citizenship unfolds as follows:

1. Residence Permit Application: Submit a residence permit application on behalf of your family.

2. Bank Account Setup: Open a bank account in Turkiye.

3. Application Preparation: Prepare all necessary application documents, including certifications, translations, and investment-related documents.

4. Submission and Review: Submit your application to the government for review, which may include an interview if required. The review process typically takes around 120 days.

5. Approval and Citizenship Documents: Upon approval, the government will issue your Turkish citizenship documents.

6. Passport Application: Apply for your Turkish passport.

It is important to note that Turkish gift and inheritance taxes apply to worldwide assets held by Turkish citizens. Seeking professional advice is recommended to navigate these tax obligations effectively.

Turkish Citizenship by Investment: Recent Updates

Turkish citizenship laws have undergone recent modifications to enhance the accessibility of citizenship by investment. Here are the key updates:

1. Reduced Capital Investment: The minimum fixed capital required for Turkish citizenship has been reduced from $2 million to $500,000.

2. Lower Real Estate Threshold: The minimum real estate investment required for foreign individuals to acquire Turkish citizenship has been decreased from $1 million to $250,000.

3. Revised Job Creation Requirement: The threshold for job creation, a prerequisite for Turkish citizenship, has been lowered from 100 to 50 employees.

4. Bank Deposit Requirement: The amount of deposits required in Turkish banks to qualify for naturalization has been reduced from $3 million to $500,000.

These updates reflect Turkiye's commitment to attracting foreign investment and stimulating economic growth.

Frequently Asked Questions

Q: Can I acquire Turkish citizenship if I was born in Turkey?

No, being born in Turkey does not grant automatic citizenship. Turkish citizenship at birth is based on kinship, meaning that you are only eligible if one of your parents is a Turkish citizen.

Q: How long does it take to obtain Turkish citizenship through investment?

The process typically takes around 120 days from the submission of your application to approval. However, additional time may be required for document preparation and other administrative procedures.

Q: Can I include my family members in my citizenship application?

Yes, you can include your spouse, dependent children below the age of 18, and children living with disabilities in your Turkish citizenship application.

Q: Are there any tax implications for Turkish citizens?

Turkish citizens are subject to gift and inheritance taxes on their worldwide assets. It is advisable to seek professional advice to navigate these tax obligations effectively.

Conclusion

Unlock the doors to new opportunities with Turkish citizenship by investment. Turkiye's strategic location, vibrant economy, and favorable investment climate make it an attractive destination for investors. By fulfilling the investment requirements and following the application process, you can gain access to visa-free travel, a high standard of living, and numerous benefits for you and your family. Embrace the chance to expand your horizons and secure a brighter future through Turkish citizenship by investment.

Remember, at Lex Lata Consulting and Law Firm, we are committed to providing comprehensive legal services and guiding you through the process of acquiring Turkish citizenship. Contact us today to explore the possibilities and embark on your journey towards Turkish citizenship.