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6 Reasons To Make A Foreign Direct Investment
You should keep in your mind that you’ll not be able to sell the property you purchase for 3 years. If you meet the criteria, which means your purchase is over $250,000 value, than your application is sent to the Turkish General Directorate of Population and Citizenship Affairs for final approval. Acquiring Turkish Citizenship through the CBI program confers to only those who match the requirements set forth in the law. Applicants and their spouses and descendants benefit from the program indirectly. However, the applicant’s parents cannot use the advantage of the program unless they fulfill the conditions in question by themselves.
The whole process takes approximately 3 months, after which applicants are issued with a 5-year residency visa with unlimited renewals. Our exclusive affiliation with the world’s leading Turkish citizenship consultancy safeguards your investment and citizenship application. The consultants have 15 years of experience in investment immigration and real estate investment – and offer a wide-ranging portfolio of properties suitable for investment.
Turkey Citizenship By Investment & Second Passport
The previous minimum requirement was $3 million for government bond holding foreigners. Foreigners who generate jobs for a minimum 50 people, the previous requirement was 100 people, will also be able to apply for Turkish citizenship. Since Turkish Citizenship by Investment program has been introduced, foreign investors have the opportunity to become Turkish Citizens within a maximum of four months. Residency in Turkey before or after the acquisition of Turkish Citizenship is not required. Investors are allowed to rent purchased properties if they are not planning to live in Turkey. Citizenship on the basis of the investment is granted for a lifetime and gives foreigners the same rights as are granted to Turkish citizens by birth, including access to healthcare and education.
According to this, the process has been further facilitated by reducing the amount of investment that foreign investors must make in order to gain citizenship from $1,000,000 to $250,000. Foreigners who bought real estate worth $250,000 in Turkey have the right to apply for Turkish citizenship. This right not only applies to the investor but also to their legally married spouse and children under 18. The investor can immediately apply for citizenship once the residence permit is granted. No physical presence or interview is required during the application process.
Building A Trade And Investment Partnership With Rising Africa
However, to obtain this visa you need to pass a gruelling pointing system, unless, of course, you are a Turkish national. We talked about the simplicity of the process of the Turkish CIP, but even when going into greater detail the clarity of the program remains impressive. The entire document checklist is no longer than one page, while the entire process can be done remotely by appointing a firm to act on your behalf. Another important point is that the investment is extremely safe, and if you choose to invest in real estate you have a tangible asset that is naturally risk-averse. The first stage of the document collection can differ in length depending on the applicant’s ability to gather the documents. In the purchase process, the qualification of the real estate does not matter.
It is obligatory for foreigners who will stay in Turkey for more than ninety days or the period granted by the visa or visa exemption to obtain a residence permit. In Turkish law, there are many different residence permits according to the reasons of arrival and stay in Turkey. The type of residence permit that an investor must obtain in order to acquire citizenship is a short-term residence permit. If the foreigner is going to apply for a residence permit from Turkey for a period, he/she must enter Turkey using a valid visa or visa exemption and apply for a short-term residence permit online to extend his/her stay in Turkey. The above-mentioned Art.31 regulates the residence permit of investors who have invested a certain amount determined by the Presidency and their spouses and children without any working condition. On the other hand Art.12 of TCC supports the acquisition of Turkish citizenship by investment.
Contact us to learn more about your options to increase your chances of getting your citizenship application approved and we will connect your with our local, experienced lawyers. So long as the total value of the combined properties that you’ve purchased is more than $250,000, you can buy several properties to then be applicable for the citizenship application process. The Turkish citizenship program is continuously evolving, making it easier for foreign nationals to go through the Turkish immigration system without needing to be in the country. Your local Turkish embassy may be able to help you do the fingerprint portion of your application, meaning you won’t have to visit Turkey itself.
In 2018, the Turkish government cut the investment amount significantly to make the program more competitive. The Turkish CBI offers several investment option to applicants, with the most popular being the property purchase. Most investments are required to be held for 3 years from the time of investment. The Turkish passport offers visa free travel to many destinations in the world but not in the EU or the US.
Most F Aq On Turkish Citizenship By Investment
According to the global index, a Turkish passport takes 55th place among 191 countries of the world. Choosing a new or secondary home for investment, one or more properties can be purchased for the 250,000 dollars. All Turkish provinces are available for real estate investment, with the exception of the border areas on the Black Sea’s coast. Commercial city, tourist city or entertaining one, what kind of city are you looking for? Whichever of these options that be a priority, you should know that buying property in Istanbul, Antalya, Ankara, Izmir, Alanya, Bodrum and many other Turkish cities will be possible. Having a property in Turkey for you will no longer be a dream as a significant number of people are investing and buying real estate for a residence and citizenship right.
The country boasts an abundance of Universities that excel in various areas of study. Medicine, architecture, engineering, ICT, and business majors are just some of the excellent options available to future generations in Turkey. Turks are exempt of having to meet the pointing system and just have to meet the basic criteria to apply, making it much easier to immigrate as a Turk than any other non-EU national. But it isn’t just that Turks are eligible for this cost-effective route to the US, but it is the validity of the visa they get. Other eligible nationalities such as Egyptians or Jordanians, for example, get a 1-year, single entry E2 visa.
Applying for Turkish citizenship can be a complicated process and it should be dealt with by lawyers who are specialized in this specific area. Antalya Lawyer and Antalya Attorney Baris Erkan Celebi and his Antalya Law Firm offer legal services to foreign nationals who would like to apply for Turkish staying permit. There is a reason why the majority of foreign investors choose the real estate route for citizenship by investment. For a property investment of $250,000, you can acquire a second home or holiday home, and get a Turkish passport within a couple of months. It’s the cheapest route to citizenship by investment, with a relatively straightforward application process.
Invest in land or property with a minimum total value of $250,000 which could comprise of one or multiple properties. Turkish company owners have the option of a special business visa for the UK. They have a E-2 Visa treaty with the USA, which means Turkish citizens are eligible to apply for US residency, through the E-2 Visa programme. A Turkish passport allows visa free travel to 125 countries worldwide.
Can you buy any property to acquire ? And no, many properties will not get you your goal of citizenship acquisition. This may be whether because they do not have enough valuation or maybe the payment has been made wrong. There can also be issues with mortgages, legal disputes, annotations on title deed, military restrictions of property ownership and more. Have a lawyer guide you on your entire process of citizenship property acquisition to choose the right property.
A Turkish passport gives a wide range of advantages that most people are totally unaware of. If the far east is your target, then you can enjoy visa-free, or visa on arrival access to most of the financial powerhouses in the region, including Turkish staying permit Japan, Singapore, South Korea, and Thailand. After receiving your Turkish citizenship, you must hold the property for at least 3 years, after which you can resell the property or hold for 5 years to avoid capital gains tax.
As real estate agents, many foreign clients ask if they can get Turkish citizenship by buying a house. Our answer is yes, because Turkey has a program that allows buyers to invest in property for citizenship. Known as Golden Visa schemes because they offer a passport, many countries operate on the same principle. Still, Turkey’s property investment scheme is attractive with many benefits, including a quick approval time. The aim was to bring foreign currency into the country through business and real estate transactions, in return for the rights to live and work as a citizen of Turkey would do.
The Turkish Ministry of Health brings you to Turkey with 25 ambulance planes suitable for long and uninterrupted flights for such situations. And the Turkish health system, which provides all these services, does not charge any fee from these patients. All these flights and treatments are offered completely free of charge by the Turkish Ministry of Health. In this context, usury, such as opening a bank account on your behalf, obtaining a tax number. Turkish citizenship is valid for your future children and grandchildren.
We invite you to consider the opportunity to acquire second citizenship of Turkey by investment into real estate or business in the country. In the text below, you will find what procedures are involved in the process and what application documents are required. You will also learn how you can become a Turkish citizen at an affordable price in a fast and carefree manner with the help of a licensed immigration agent in Turkey. Potential buyers and investors who buy a real estate, worth minimum of $250,000 with a title deed restriction on its resale for at least three years, can apply for Turkish citizenship. The application will be sent to the Ministry of Environment and Urban Affairs where the value of the real estate will be checked. With the approval and residence permit, the application is sent to the Directorate General for Population and Citizenship.
But learning Turkish is a great benefit because Turkish is now a language spoken from many different geographies as a world and trade language. It is an active and well-established language spoken in a wide geography from western China to Bosnia. But you do not have to know Turkish to become a Turkish citizen by investment.
Our experienced real estate team and lawyers for Turkish citizenship program will make sure all points are duly checked prior making the investment. Due to coronavirus pandemic and international travel restrictions, we can now open the bank account remotely, and we can also finalize the property transfer as well as other necessary tasks remotely. We can proceed on behalf of you with an apostilled PoA including bank account opening, property sale transfer as well as further Turkish Citizenship application procedures without your travel to Turkey required. The last investment option is directed mainly to individuals who actually wish to live and run a business in Turkey. To acquire Turkish citizenship, you can set up a company that will provide employment to at least 50 people. Keep in mind that Turkish law requires that employers who hire fifty or more people in one workplace, must employ a certain number of disabled personnel, which should be equal to 3 % of the total employees hired by the employer in a given city.
A Potential Tax Identification Number is required to complete the necessary procedures for real estate acquisition and bank account opening. All documents requested during the application process must be approved by the Ministry of foreign affairs of the current country, then approved by the Turkish Consulate in the current country or have Apostille certification. There are many clients who asked for citizenship programs with easy application processes and fast processing times. So, do you want to know how much time it will take to get a Turkish passport? The Turkish Citizenship application process for Turkey will approximately take around three to four months. A real estate valuation institution approved by the Capital Market Board must determine the value of the real estate, and a valuation report must be prepared.
