Turkey Citizenship

Citizenship by Investment Programme:

The Citizenship-by-Investment Programme (CIP) was launched in 2016 to stimulate foreign direct investment and the real estate market. The original CIP was based on a minimum investment of USD 1 million. To make the Turkish CIP more competitive on the world stage the real estate investment was reduced to USD 250,000 in September 2018.

Requirements/Investment Options

The Turkey Citizenship-by-Investment Programme requires an applicant to make a significant financial investment into the country in return for citizenship for the applicant and his/her family. There are no residency requirements and citizenship is for life.

To qualify for citizenship, the main applicant must be over 18 years of age, meet the due diligence requirements and select one of the following options:

Purchase of real-estate with a minimum value of at least USD 250,000.
A bank deposit of at least USD 500,000 in a Turkish Bank.
Investment of a real estate investment fund of at least USD 500,000.
Fix capital investment of at least USD 500,000.
Investment in government debt instruments of at least USD 500,000.
Active business investment creating employment for 50 Turkish citizens.

The first two options are the most active pathways for Turkish Citizenship-by-Investment with the minimum investment period being three years.

For all clients considering the real-estate option, Latitude recommends a country visit and our dedicated team in Turkey will provide tours. This will ensure clients gain a better appreciation and knowledge of the available options and overall real estate market.

Our team will also assist with compiling the citizenship application prior to submitting it to the government. The following documents are required:

Title Deed of property
Power of Attorney
Certified copy of Passport, Birth Certificates, Marriage
Certificates, National ID cards with Apostille.
Clean Criminal Record
Biometric pictures

Benefits:

Qualify via property investment from as little as USD 250,000.
Children up to the age of 18 may be included in the application.
No minimum residence requirements.
Secular state with vast majority of the population identifying as Muslim.
Familiar culture and customs for Middle East clients.
Visa-free travel to 112 countries including Singapore, Hong Kong, Japan, Thailand, South Korea, Ukraine, Jordan and Lebanon
Dual Citizenship: There are no restrictions on dual citizenship in Turkey.

Taxation

A Turkish citizen who is also a resident is taxed on both the income they produce in Turkey and on their worldwide income, while there are many countries with double taxation treaties.
A non-resident citizen is only taxed on income produced in Turkey.

Application Process

The application is straight forward and is usually completed in as

little as five months from the time the application is submitted.

Month 1:

Initial due diligence and sign client agreement.
Issuance of Power of Attorneys to our lawyers in Turkey to open a bank account, execute real estate transaction and for the citizenship application (could be issued at a Turkish Consulate if travel to Turkey is not possible).
Provide required documents.
Identify the property with our team and complete the purchase.
The conformity letter is obtained from the Government.
Short term residency application is lodged (6 months residency permit for the main applicant only).
Citizenship application is submitted for all family members.
- Months
The application is reviewed by the government and due diligence checks are carried out.

Month 5:

Application is approved.
Citizenship is granted and passport(s) are obtained (passport could be obtained in some of the Turkish Embassies overseas if travel is not possible).

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Turkey Citizenship