No interview has to take place either. And indeed, Turkey gives you a lot of options. There is no minimum investment amount required; you just have to prove that you own a property or you are running a business, and that you have sufficient financial means to live in the country. You can keep living abroad after obtaining Turkey citizenship. However, there are a lot more hoops to jump through. The good news is that as of 2013, property buyers will be granted automatic year-long residency permits instead of the three-month permits that were previously issued. Greece Golden Visa investors can obtain their permanent residence permit in 1-2 months. I am from India and would like to go to the US on a E2 visa. If you are going to invest in Turkey and get its passport, it would only be wise to carefully monitor the political and socio-economic developments there. with one of the abovementioned investment options. years. You can expedite the process and apply remotely before going to Turkey for a three day trip, during which you would purchase the real estate and go home with your deed title. Hello, You do not need to be residence permit holder to establish a company in Turkey. In other words, it needs to be deemed as having fulfilled the requirements set out by the law. Greece Citizenship after 7 years of living (requires PR status) Free movement in 26 schengen states with residence permit issued by Greece (“A?EIA ?IAMONH?”) No residence requirements. You can put that money in as a deposit in a Turkish bank, you can buy government bonds, or you can buy real estate or venture capital investment fund shares. You can review our webinars, live talks and pictures and events that we attended and organized on Turkish Citizenship by Investment program on our Social Media accounts: We have recently organized seminars on obtaining Turkish Citizenship by Investment in Pakistan jointly together with Saad Ahsan law firm (February 2020), Our CEO, Mr. Güvenç Ketenci recently attended the UGlobal Conference held in Dubai back in February 2020 and shared his views on Turkish Citizenship by Investment program as one of the panelists on US E2 Full Free Medical assistance for life for all family members in Turkish State Hospitals including coronavirus, cancer treatment. Official translations, apostilles, notary certifications, photos… It’s best to leave it all up to a certified professional. The sheer popularity of the program has caused some public pressure in Turkey. one of the below mentioned investment requirements are able to obtain Turkish Citizenships together with their family members: This means it is possible to obtain Turkish Citizenship by Investment for the Investor (Main Applicant) as well as for family members: spouse (wife/husband) and children below 18 years old with proceeding There is no need to stay or even live in Turkey prior to becoming a resident, nor do you need to continue staying in Turkey after you’ve received it. This would be Invest in real estate, rent it, then watch it appreciate in value and sell it three years later. As experienced immigration attorneys and Citizenship Residence permit. 6458. Citizenship by Investment Turkey. Third, buy real estate worth $250,000. Residence permits are granted in compliance with the rules designated by the bilateral agreements held between Turkey and foreigner’s country . Recent Developments on Turkish Citizens Visa-Free Travel to EU-Schengen Zone: Turkish Health System proves successful against Covid-19, We were awarded as the Citizenship Law Firm of the Year in Turkey in 2018, Copyright 2020 © Ketenci & Ketenci International legal practice, Turkish Citizenship by Investment Program Rules. As highly experienced immigration lawyers and attorneys in Turkey, we can thoroughly advise you to obtain Turkish citizenship by investment. Philippines, Malaysia, Indonesia, and from the West : US, UK, Canada, Italy, Sweden, Switzerland, France, Greece, Portugal, Poland as well as the Carebbean Countries, the CIS Countries: Russia, Want to get citizenship while it’s still at the lower threshold? visit our Clients section to see the list of some of our corporate clients that we work together. Additionally, short term residence permit shall be It grants residency, citizenship and a second passport to applicants investing either in real estate or a bank deposit. You definitely don’t want to be keeping track of all that. With the price lowered and some of the other benefits now better than before, let’s take a look at the various pros that a Turkish citizenship brings: There aren’t as many cons to Turkish citizenship as one might think. Highest GDP rate per capita when comparing with other CIP jurisdictions: One of the largest and strongest economies in the World. For other types of citizenship applications, you need to apply via the local governorship office where you live in Turkey or via a consulate if you are living abroad. Three years ago, we didn’t think that the Turkish citizenship by investment program was going to amount to much. lawyers in Istanbul, Turkey, we can also advise you thoroughly on your Turkish citizenship applications through Bank Deposit Option. For example, if you’d like to make a deposit at a Turkish bank, you can make it in any currency that the bank will accept and hold. It takes 3 to 4 months from lodging your application to receiving your Turkish passport. Outsource some of the labor to a cheaper country. (Turkish Lira), EURO, GBP or other major currencies depending on Investor’s own choice. Yes. According to previous regulations, foreigners can stay in the country for a maximum of three months on a tourist visa, after which time they … Have you been thinking of applying for Turkish citizenship? An attempted coup d’etat of 2016 added fuel to the fire. Also, not many will be giving up their western citizenship only to become Turkish. We can help you navigate all this and add a Turkish passport to your portfolio. You’ll probably need some legal guidance and advice on navigating the world of business in Turkey. You need to invest $250,000 in real estate in Turkey to become eligible for a passport and there are no restrictions on what you buy. Or, you could opt for the offshore haven of St Kitts and Nevis and get its citizenship by investing a mere $150,000. formations. immigration lawyers based in our Istanbul office. The Turkish citizenship is yours. deposited amounts. further information. to your specific case and requirements. We always strive to provide the finest legal services and aim to provide crystal clear advice on the procedures and keep informed our clients regularly on all steps from Day1, up until the Turkish Besides the requirement to hold the property for a minimum of three years, that is all that there is to it. You can obtain a permanent residency permit in Turkey (Turkish PR) either by making a property investment of $100,000 USD in Turkey or by setting up a new company in Turkey. Can continue from 1 term Touristic to 2nd term Real Estate Residence permit (with Turkish citizenship option after 5 years) and reason for additional Touristic stay in Turkey more period. We have been advising our respected clients on the Turkish Citizenship by Investment (TCBI) since January 2017, the introduction of the program by the Turkish government. Applying for a permit was once a time-consuming hassle. There are three ways to get a Turkish citizenship by investment. Citizenships by Investment together with your family members. Turkish residence permit system is governed by the Law on Foreigners and International Protection (Law no: 6458, Enacted 11.04.2013). You could put $500,000 into a Turkish bank or a bond, but why add complexity to things? Restricted nationalities: Armenia, Cuba, Nigeria, North Korea, and Syria. investment shall be confirmed by the Ministry of Treasury and Finance of Turkey. Dual nationals are not compelled to use a Turkish passport to enter and leave Turkey. Become a Turkish citizen and get passport offering visa free travel to 110+ countries. Add to that spouses and dependants and Turkey has naturalized nearly 20,000 people since the inception of the program just three years ago. Safe, Happy and Wonderful environment to settle with family. The property shall essentially meet certain criteria including having a verified expert valuation report in place as well as a building license, and the title deed shall also be ideally clear The monies could be deposited in any currency: USD, TRY It is essential to hold the property for at least 3 years, you can then sell the property without any limitations or restrictions. No other RCBI program even comes close. According to the current law, a person can be granted the right of residence if they make an investment or buy real estate of not less than 300 000 GEL The draft law increases the amount of an initial investment to $300 000 equivalent in GEL. Turkey Citizenship by Investment programme allows the investors/main applicants to invest into multiple properties/units, provided that the total amounts exceed $250k USD, you can proceed with We have a vast Turkish immigration and corporate law experience. Plus, setting up a company, running a payroll and all that comes with its own costs. Basically, if you can start a company and employ at least 50 people, you will become eligible for a Turkish passport. In line with the new regulations in Turkish immigration law, foreign persons who would satisfy Prospective Visa free travel to EU (Schengen zone) for all Turkish Citizens, Easy to obtain long-term, multiple entry visa to EU, US, Canada, UK and Australia for Turkish citizens, Strong, Independent Legal System and Courts, Perfectly located, nestled between Europe, Asia and the Middle East and Africa, Opportunity to relocate and live in Istanbul, one of the most beautiful and developed towns in the World or any other part of Turkey, Webinar on Turkish Citizenship by Investment Programme, Webinar on Turkish Citizenship by Investment and US E2 Visa, Webinar on Turkish Citizenship by Investment and Ankara Application, Company Formation & Bank Account Opening in Turkey, Atatürk Mahallesi, Ataşehir Bulvarı, Gardenya 5 Plaza, Kat:13, Ataşehir, 34758, İstanbul, Turkey. Foreigners to enter Turkey by (1-90 day) tourist, student, business, medical, commercial Visa or e-Visa (1-30 day) and to purchase Turkey property under 250.000 USD may obtain Turkey Real Estate Residence Permit ID Card as individual or family valid 1 or 5 years without any condition for continues stay in Turkey. In essence, you drop off the paperwork and can fly home with your title deed at hand and expect a passport in the mail in the next 3-4 months. by investment in our youtube channel. Option (E), foresees that it is also possible to acquire Turkish Citizenship by making an investment into a Turkish real estate investment trust, or alternatively with purchasing the shares of a remotely. We can provide you further detailed Turkish tax advice, Turkish and international tax optimisation, wealth management services according If you make an investment in Turkey but don’t live there, you won’t be liable to pay income tax. For a foreing citizen, there is no need short or long-term living requirement in Turkey to obtain Turkish citizenship by investment. Yes. And it’d be smart not to. Wikipedia says “Residents in Turkey are liable at tax on their worldwide income and they are considered as “full tax liable” (…) Residents are individuals with legal permanent residence and those who reside in Turkey for more than six months during one year.” so it would mean Trifecta could work. It is quite easy to receive residency in Turkey, compared to other parts of the world. In just two years, the apartment I bought in Istanbul has doubled in value.”, “The Turkish citizenship has given me visa-free travel to all of Latin America, region in itself has a lot of investment opportunities.”. Don’t want to miss out? Herdem Gültekin Caylak is the Managing Director of Ketenci&Ketenci. 3. citizenship matters. This is the investment-making part of the process. Official EU Candidate Country, prospective Visa Free travel to EU member countries, all 26 Schengen Zone. Yes, it is possible to earn regular interest on the deposited amounts. As soon as your residence permit is granted, you can submit your paperwork to the Provincial Directorate of Census and Citizenship. Turkey is a vast country that straddles the Euroasian continent, with one foot in the Western European world and one foot in the Middle East. Turkey is a bit shaky on this. Please contact us if you would like to have further info on other CIPs. We also have an extensive network inside Turkey, we can therefore also advise on your property investments in Ankara, Capital of Turkey as As a rule, Turkish Citizenship by Investment Investors (Main Applicants) who are aged over 22 years old are all exempted of military in Turkey. The initial investment threshold was set as follows: As we already mentioned, not many people were interested and the buy-in was low. We have been the pioneers in Turkey advising on citizenship and migration matters leading Turkish law firm, Since 2009, we have been successfully Turkish passport currently allows visa-free travel to 111 countries globally. We work While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. With the recent changes in the legislation Turkish Republic started to grant citizenship to individuals who invest in Turkey without a minimum residence requirement. Or, better yet, get a professional to do it for you – the Nomad Capitalist team is always ready to help. Foreigners who intend to extend their stay in Turkey beyond the time limit prescribed in their visa, those who need a visa exemption or intend to stay for more than ninety days must obtain a residence permit. We think it’s safe to assume that this year will be record-breaking for the Turkish CBI program. Can I live permanently in Turkey? If we average a few estimates, there were approximately two million unsold homes available on the market, stock that would’ve taken over three years to sell. Here’s what you need to do to get a Turkish citizenship by investment. Turkey allows Dual & Multiple Citizenships. However, this shall be done prior The documents required, and types of application will vary depending on your circumstances. Let’s see what they are. obtaining Turkish residency and work permits. Battling ISIS and the Kurdish rebels, who were to blame for the terror attacks, the Turkish government was overwhelmed. The residence permit … And, with a population of 78 million people, a median age of 31.5 and life expectancy of 76, Turkey is a country that’s highly dynamic and a true amalgamation of cultures. Would you recommend going for a Turkish citizenship or a Grenada citizenship before applying for the E2 visa. Do keep in mind that if you sell your property after the mandatory three year holding period is up, you will be liable to pay VAT. In compliance with the Decision of the Council of Ministers dated 10.10.2011, No: 2011/2306, starting from 01 February 2012, the total duration of stay of foreigners who visit Turkey as tourists cannot exceed 90 days in any 180 days period. You’re better off using a more stable currency like the euro, but do note that the sum must equate to $500,000. If you’re looking to buy multiple properties, both of which combined would make your investment $250,000 or more, they must be in the same neighborhood. with financially strong developers only to make sure our clients’ investments will be on the safer side. Turkey announced its citizenship by investment programme in 2016. So, let’s assume I buy a property there, get the residence permit, the passport and decide to live there for 3-5 month’s a year. The application process usually takes just three to four months and it does not require that you learn any Turkish or go to a formal interview of any kind. Tor Advisory has been providing consultancy services on starting a business in Turkey and acquirement of citizenship and residence permit. It’s foundation is in the country’s Citizenship Law, Act No. What Is a Citizenship by Investment Program? We also open new bank account in Turkey and also To facilitate the property investment for our Clients, we have set a special real estate department working internally with our firm. And we’re not just saying that because it’s the lowest amount of money that it takes to participate in Turkey’s CBI program. Otherwise it will not be suitable to proceed for Turkish Citizenship. Turkey’s economy ground to a halt. Now, that requirement has been halved. No Military Service required for TCBI Applicants. Turkey Residence Agency offers advisory service of residence permit application for foreign clients. He is a member of Investment Migration Council. It would be necessary to make a separate investments for them to obtain the Turkish citizenship or alternatively, you can consider to apply for Turkish Residency Permit (Turkish PR) for the All in all, there aren’t any obvious or practical drawbacks to having a Turkish citizenship, but do keep in mind that there is risk involved when investing in a developing state like this. The Investment Office, under the jurisdiction of the Presidency of the Republic of Turkey, has set out three options on how a foreigner can obtain a Turkish passport by investment. Mevlana Mah. The country’s current-account deficit stood at nearly $34 billion in 2016. We have successfully assisted more than 300 Clients so far and obtained Turkish Pakistani citizens can easily obtain Turkish Citizenships by investing in Turkey. 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