How Can I Apply For Citizenship For My Parents After Becoming A Turkish Citizen?
Passport Legacy is a boutique firm with over 12 years of combined experience in the citizenship-by-investment industry. We provide a range of professional services to our private clients including the acquisition work permit turkey of alternative residence or citizenship as well as real estate. The staggering reduction in real estate prices have made it a great opportunity for talented investors to purchase real estate in the country.
The easiest way of gaining a second passport is by purchasing a property worth at least $250,000 in Turkey. There are also lawyer fees of ~$5,000 for property acquisition and citizenship application and closing costs of 2-4% of property purchase price. If you work with us, you will not pay any buyer agent commissions to Elmaslar Real Estate. We are different because we represent only one developer that has over ten projects and help you all the way from property selection, acquisition, citizenship application and rental management. We completed 150 passport applications in Turkey in the last two years and achieved 100% success rate.
Turkish Citizenship By Investment Consists Of Three Stages:
A foreigner who applies for Turkish citizenship by way of investment should first obtain short term residence permit. Normally, in order to make a short-term residence permit application, the foreigner should enter Turkey with a valid visa, or by benefiting from a visa exemption. We do perform legal services for property purchase and management for foreign clients. Accordingly, foreigners who satisfy at least one of the below-noted investment requirements may be granted law firm a Turkish citizenship, subject to the approval and an administrative decision of the President. Our Turkish Citizenship Lawyers perform legal services for making an investment and getting a conformity certificate for the investment to apply for Turkish citizenship. Accordingly, foreigners who satisfy at least one of the below-noted investment requirements may be granted a citizenship, subject to the approval and an administrative decision of the President.
Moreover, Turkey does not inform other countries if you obtain Turkish citizenship, which is also a definite plus. And of course, when purchasing your property, you must not have any financial burdens or have any debt that can prevent you from collecting the required sum. So, we will have to find a property developer or seller that would be happy with doing that, which is not as easy as it sounds, trust me.
Drug Possession And Criminal Penalties In Turkey
The Turkish people love to share what they have and to host, and this can be said about the country on a whole. All documents issued from outside Turkey must be certified by the Ministry of Foreign Affairs in the country from which the document was issued, and by the Turkish representation in that country . Original passport + copy of the person applying for residency as well as the person must be present in person.
This can be in the form of a fixed capital deposit in a Turkish bank, an investment in Government bonds, or a real estate or venture capital investment fund. The capital investment can be made in a foreign currency and need not be in Turkish Lira. The final option is worth considering for those entrepreneurial types who are interested in starting an active business in Turkey and creating jobs for at least 50 people.
Obtaining Turkish Citizenship By Investment
Yes, Turkish law allows dual or multiple citizenships when you become a Turkish citizen. You must check with the consulate of your original nationality, some countries do not allow to have dual citizenship or have some other restrictions. The Republic of Turkey grants now the citizenship to foreigners who purchase a real estate in Turkey in a value of at least $250,000 instead of previous $1 million.
They have many properties in the most prime locations in Istanbul and Antalya. Due to our close family relationship with the developers, we get you the best prices in the market and prioritize your transaction and citizesnhip application with the developer. After your application is received, your residency permit should be issued within 7 business days. Once you have your Turkish citizenship, you can hand it down through the generations to your children and grandchildren. Children under the age of 18 can get a Turkish passport through your application.
Bomonti Residence Project In Istanbul
As for the option of citizenship by investment by means of providing 50 jobs, the foreign investor is required to recruit the employees within the first 6 months following the citizenship application. One important detail to note is that the Ministry of Family and Social Policies conducts audits on an irregular basis without notification and examines whether the foreign investor retains those employees. Turkish government created a new citizenship program to encourage foreign investors in 2017. The program says that, foreign investors who own a property or who bring a capital more than a certain limit can acquire Turkish citizenship. In addition, these investors do not have to stay in Turkey to acquire citizenship. To make this citizenship program more featured, Turkish government decided to lower the investment cost limits in 2018.
As Birgan&Partners Consultancy and Attorneyship, we are able to handle the process depending of Power of Attorney. To compare Turkish Citizenship by Investment program with other citizenship or residency by investment programs, we need to understand basics of some major program international residency and citizenship programs. Another important condition for obtaining citizenship is that all payments made during the purchase, in the amount of 250,000 dollars or more, absolutely must be made into the sellers account through a bank. Yes, this can be done by making an official power of attorney at the Turkish embassy in your country for the legal team in damasturk, and we will go through all the procedures for you.
The History Of Turkish Immigration Program
Foreign applicants are entitled to buy any real property in the country that they wish. The infrastructure in Turkey has been actively developing over the recent years, which also makes the country an attractive place where you can relocate. The availability of young qualified personnel and the strategic geographical Turkish staying permit position of the country make it a perfect platform where you can start or develop a business. However, other expenses have to be incurred when notarizing and legalizing the application documents. The amounts of these expenses can vary depending on the document type and the servicing professional/ organization.
As stated before, you need to keep the property for at least three years. However, sellers do not pay any capital gains tax if you keep it for at least five years. Some investors who do not plan to live in the property all year round also look at rentals for additional monthly passive income. For the long term, landlords must follow tenants’ rules by law and provide them with a contract.
In case of the real estate being mortgaged or purchased as mortgaged, the amount after deducting the mortgage cost from sales price, shall be at least as much the determined amount in the Regulation. There is no limitation on the number of immovable properties that can be purchased through a sale or executing a preliminary sale contract before notary. A preliminary sale contract, which shall be executed before a notary public, is possible for immovable properties with condominium ownership or condominium servitude. The subject real estate shall not be located in a military forbidden or security zone. This clearance is provided by the title registry offices and is a standardized system. In accordance with the Article 35 of the Land Registry Law No. 2644, amended by Law No. 6302, entering into force on 18th May 2012, the condition of reciprocity for foreigners who wish to buy property in Turkey is abolished.
The regulation was amended by Turkish Government on 18 September 2018. As per the new regulation the amount of investment reduced by Government from USD 1,000,000 to USD 250,000. This is the best opportunity for anyone who wishes to acquire Turkish citizenship in the easiest and shortest way.
Once the investment is confirmed by the relevant governmental authority, the foreign national is granted Turkish citizenship. A child adopted by a Turkish citizen automatically becomes a Turkish citizen if under 18 years old on the date the application for adoption was made. In some cases , those who have foreign names and are applying for Turkish citizenship change their name to a Turkish name. Examples of people who have done this include football players Colin Kazim-Richards and Mehmet Aurélio. Master’s degree in Economics, over 6 years experience, specialized in immigration, oversea study planning and financial advisory as global taxation management and global real estate investment. The program features a straightforward application process without any obligation to declare the investor’s assets or income generated in other countries.
Turkey provides visa-free travel to over 120 countries worldwide and ranks top on all passport indexes- just behind EU-member states. On the other side, the exceptional of the Turkish passport is its use of a special relationship between Turkey and EU. With EU, Turkey has a Schengen Visa Easing Agreement- getting the visa-process for Schengen countries down as much to just 3 days. Property After-Sale Services- After getting the citizenship, one of the main concerns of investors is to manage their properties. Final Approval of Citizenship by Ministry of Interior- After documents, investment, residency and backgrounds of the applicants are all approved- Citizenship File goes to the Ministry of Interior to receive the final approval. Security Background Check by Intelligence Agency- The National Intelligence Agency of Turkey checks each applicant of citizenship for their criminal backgrounds and rejects applications with a criminal history.
And there are lots of very ineresting facts about Turkey which everybodys loves when they first time visit this amazing country. A child born by a father and a foreign mother, out of marriage bonds is a Turkish citizen as long as the principles and proceedings stating the establishment of descent are fulfilled. By the Turkish Citizenship Law, 2009, an individual can acquire Turkish citizenship by descent (Turkey 20009, Art. 6). There are intents of an increase in the minimum amount of payments owing to public pressure. It’s duly recommended that interested investors hasten up in filing their applications for Turkish Citizenship. Like every other country, there are laws and regulations guiding citizenship in Turkey.
So if you’re looking to buy, rent, and hold for the long-term, this is the perfect option to gain another passport. There is no pre-approval of properties as you’d get with other CBI programs where the real estate is usually overvalued. 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. It can be a house, apartment or land – do whatever makes the most financial sense to you.
You can become a Turkish Citizen by purchasing one or multiple property in Turkey that is worth a minimum of $250,000. DH Private has significant presence and experience of several years in Turkey. According to László Kiss, the program has changed to offer safer investment options during the recent economic turmoil of Turkey. The decreased amounts of investment should be attractive for the savvy applicants, with a moderate tolerance for risk. Tor Advisory serves its individual and corporate clients in English, Arabic, Persian, Russian, and Chinese languages in terms of both local and international business and investments.