Turkish Citizenship By Investment In Turkey
Application and Issuance of Residency Permit- Attorneys can apply and get a residency permit simultaneously with the Citizenship Investment Approval- taking around 6-7 days- right after investment and documentation procedures. We guarantee the delivery of final citizenship approval in 90 days, after investment/documents are completed. It can be complicated for a foreigner- with no experience and with a language barrier- to understand the governmental procedure leading to Turkish citizenship acquisition, but there is no need to worry. Our expert lawyers and consultants at Viya Citizenship will enlighten you for each step of your application, will update you in the process and will take care of everything- reflecting no-hassle to you, until the passport is delivered. Then, you also have the advantage of Turkey’s passport- securing you a future and traveling rights. Starting a new life and having a new passport in Turkey can be possible within 3 months which once granted, will provide you with visa-free travel to 111 countries and the option to apply for a USA E-2 Visa.
AnEnglish-speaking attorneywill prepare your purchase and sale agreement tobuy or sell an off-plan or second-hand house or apartment in Turkey. Our lawyer will advise you of any potential pitfalls, recommend specific changes that would benefit you, discuss or negotiate these concerns and changes with the other party, and accompany you to the Title Deed Office to close the transaction. Nowadays, there Turkish work permit is huge demand for Turkish citizenship via the route of the USD 250,000 property investment law. Our attorneys will help from real estate purchase until you get Turkey citizenship by investment. Turkish citizenship entitles you to permanently reside in the country and apply for an E2 business visa to the United States. To obtain a passport, investors most often buy real estate for $250,000 or more.
Properties Approved Under This Program
Applicants are required to hold a valid residence permit at the time of their citizenship application, and may continue to live abroad as long as they wish. Coupled with a simplified application process and high ROI property investment projects, the Turkish citizenship program offers efficient routes to relocating to both the UK and USA under respective visa categories available for Turkish nationals. Our attorneys will help from real estate purchase until you get Turkish citizenship.
In particular, we should note that all citizens of 183 countries approved by the presidency can acquire real estate in Turkey. There is no published complete list of countries that can acquire real estate. However, upon your intention to acquire property, we may make inquiries from the relevant Land Registry Directorates.
Frequently Asked Questions faq In Relation To Turkish Citizenship By Investment Programme
Simplifying your investment decision making in real estate and moving effortlessly between your home country and where your wealth is tied is what we do best. Besides applying for long-term residency after eight years of residing legally in Turkey, you can opt-in for citizenship rights. All you need is to provide evidence of bonds to the country, no dangerous disease that poses threat to public health, no criminal record, and put in for an interview for proof of proper language communication. But, it can be extended if you’re still running the business or have direct ownership of the property, live for about 6 months in Turkey, and you’re faithful to tax payment.
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How Quick Is It To Get Citizenship Turkey If I Am Ready To Invest?
You can obtain a permanent residency permit in Turkey either by making a property investment of $100,000 USD in Turkey or by setting up a new company in Turkey. No, there is no residency requirement in Turkey either during the application process or after obtaining Turkish citizenship. Citizenship application period is estimated to result in two months, although the residence permit will vary depending on the province. One of the biggest advantages is the ability to travel visa-free to over 100 countries. For citizens of countries like India, Sri Lanka, Iran, Egypt and many others, this is a game-changer in their business and investment opportunities. Moreover, a Turkish passport allows you to easily apply for an E-2 Investor Visa to the United States.
With this information; current status of citizenship application will be checked. In addition, lawyers periodically check the stage of the citizenship application and inform the family by receiving direct information from the relevant ministry. Later on, they can collect the Republic of Turkey ID card and passports from the relevant authorities. Because, the Provincial Migration Administration requires health insurance on behalf of applicants in residence permit applications.
Approval And After Citizenship
” In fact, this is not a very complicated matter, but we should remind that many people get disconcerted while they are in the process of getting such privileges. So the new facilitation provide a great opportunity for foreign investors to invest in Turkey, while they make it all easier and cheaper to buy a property in Turkey. Nowadays with technology, globalization and integrated economies, the entire world has become a global village.
If such record is not registered during the purchase transactions, the owner of such real estate shall request to register an annotation of no-sale for at least three years at the relevant title registry. The real estate should not be registered on behalf of the company where the foreigner is the partner or manager. The real estate should not be registered to any other person, including the foreigner’s spouse or children. Also, the real estate should not have been purchased before January 12, 2017 by the foreigner himself, foreigner’s spouse or children. The transfer of the sale price should be realized through banks and should be supported by bank approved receipts when the price is deducted from the buyer account and deposited in the seller’s account . Completed application files are submitted to the Ministry of Interior, which will consider and process the applications on their merits.
Turkey Citizenship By Investment
We estimate that 90% of properties used for Turkish citizenship applications are new properties that are in development due to the issues with buying second hand property and having difficulty with citizenship. Based upon new legislation that was passed for 2021, developer buybacks are no longer permitted as part of the property investment process for citizenship. One reason why people are attracted to buying Turkish nationality is that it opens the door to visa-free travel across the world.
In this regard, the foreign investors must especially refrain from manipulative real estate price evaluation reports. As of March 23, 2021, there are some important changes in the rules of the Turkish citizenship through investment. Overwhelming majority of those changes are related to real estate investments. In other words, unfortunately, the citizenship procedures are now more complicated. This is why the foreign investors now need to cooperate with legal experts more than ever to complete their investments and citizenship applications smoothly.
Investment contributions under the Turkish program for citizenship by investments in real estate should be processed through a branch of a Turkish bank. A foreign applicant must open a personal bank account in Turkey and can select any bank in the country at his own discretion. An adult who has an official source of income, who has never violated the Turkish visa regime and has not been deported from the country, can apply for Turkish citizenship if they invest in housing, land or commercial real estate. When considering an application, the Turkish authorities also take into account the applicant’s state of health (absence of socially dangerous diseases such as HIV, hepatitis, tuberculosis, etc.) and their reliability . These countries offer residency rights with minimal or no physical presence requirements, hence became very popular among busy business people and professionals who are only looking for the benefit of residency right and not necessary relocation. And permanent residency and citizenship might be possible if the investor meets certain requirements, such as actively living in that country for certain time and develop local language skills.
Furthermore, our exquisite after-sales services make it easier to obtain the right property or properties to obtain Turkish Citizenship by investment. The family of the investor also qualifies for citizenship, in addition, the spouse and children aged 18 and below. A foreign investor can turn into a Turkish citizen by buying a property for the amount of $ 250K.
The Turkish government introduced its popular CIP in 2017 and then went to reduce the minimum investment required to obtain citizenship in 2018. The minimum threshold for the real estate option, which is the most popular one amongst global investors, was slashed from 1 million USD to 250,000 USD. Foreigners whose has an uninterrupted residence period in Turkey for 5 years with a special residence permit for property owners can acquire Turkish citizenship through a general application.
The best part is, there is no need to stay or even live in Turkey beforehand to become a resident, nor do you need to continue staying in Turkey after you’ve received it. Kickstarted in 2018, the Turkey citizenship by investment program was established to encourage foreign direct investment in the Turkish economy and stimulate the real estate market. The investment program invites qualifying applicants to invest in the nation, in exchange for lifelong citizenship. Based on the regulation, the main applicant who keeps 500,000 USD or equivalent foreign currency or Turkish Lira in his bank account for 3 years can be a Turkish citizen. Lawyers can carry out all bank account opening procedures with a power of attorney.
In conclusion, the evaluation results of the application regarding the foreigners who fulfill the requirements shall be notified to the Ministry of Interior and the applicant. Trade registry gazette records and current trade registry certificate showing the partnership and capital shares of companies or companies employing at least fifty Turkish citizens in total. In the sale or preliminary sale contract transactions for real estate, it is possible to sale of real estate Turkish work permit with mortgage or attachment. In case the real estate is purchased from the projects under construction, the value of the property upon completion shall be calculated and indicated in the real estate appraisal report. If a foreigner purchases more than one real estate at the same time or different time-scale and the sum of the values of such real estate are $250,000.- or more, each real estate shall also have an annotation of no-sale for at least three years.
Generally, it takes 3-4 months to get a citizenship application accepted. There is no minimum investment amount required, and the processing time is three months, but can be expedited to three weeks for a small fee. However, it is a treaty visa, which means it is available to select nationalities only, but luckily the Turkish nationality is on that list.
Nor do you need to visit Turkey before, during the application process, or after. To top it off, with Turkish citizenship you can enjoy visa free travel benefits. After obtaining the Investment Eligibility Certificate and residence permit by lawyers, an application for Turkish citizenship is made. Along with application for citizenship, information about application for citizenship is shared by the General Directorate of Population and Citizenship.
Add to that spouses and dependants and Turkey has naturalized nearly 20,000 people since the inception of the program just three years ago. The Turkish government realized that they grossly overvalued their passport and dropped the investment needed to $250,000 in mid-2019. However, please be aware that you would not be eligible to qualify for Turkish citizenship until you have fully paid off your mortgage. If you can acquire financing from overseas to pay for your property, you would then be deemed as eligible for Turkish citizenship, so long as the property has been paid for in full.
Please see /about to learn more about our global network of member firms. Of all the visas available to non-UK citizens, the Spouse visa is one of the most restrictive, however, and officials require a high level of evidence to prove that relationships are genuine. This is to deter ‘marriages of convenience’ or ‘sham marriages’ in which non-UK citizens marry or enter into civil partnerships with UK citizens solely for the opportunity to live or work in the UK. The UK Spouse visa is the British Government Home Office’s cupid’s arrow.
Since the lira has plummeted, real estate options are plentiful and they are cheap for foreign buyers. Today, there are three ways you can obtain citizenship by investment in Turkey. The sheer popularity of the program has caused some public pressure in Turkey. There are talks of upping the real estate requirement from $250,000 to $500,000 – perhaps the golden mean of Turkey’s CBI program, keeping both the investors and the locals happy.
The citizenship application of foreigners is evaluated by the commission formed by the relevant Ministries and submitted to the approval of the President. The decision to grant citizenship is at the discretion of the President. Similarly, short-term residence applications can be made from Turkey. The foreign investor must appoint a representative authorized by special power of attorney in Turkey if he/she wishes to apply from Turkey while he/she is abroad.
In order to increase Turkey’s investment attractiveness for foreigners, in September 2018, the country’s government changed the requirements for minimum investment. Earlier, to obtain Turkish citizenship, a foreigner was required to invest at least 1 million US dollars to the country; after making the changes, this amount of mandatory investment was lowered to 250,000 USD. In attracting foreign real estate investors, Turkey has to compete with Portugal and Spain.