Turkish Citizenship By Investment In 2021
Although, Turkey has held talks for visa-liberalization with the EU in 2013 and there is hope that the process will take place in the future. It is possible to change the currency or type of investment which is mentioned in Regulation (such as purchasing a real estate investment fund share and capital investment trusts fund share with a minimum value of $500.000). However, in case of shifting the amount to another investment type, such process should be instantaneous and there should not be any interruption for three years period. Our Turkey citizenship by investment lawyers are ready to apply citizenship with bank deposit, they will assist you to open a bank account.
Additionally, your future children will also be born as a citizen of Turkey. If you choose to get other passports, the programme lets you multiple passport option in addition to Turkish citizenship. By checking our portfolio, you can see what projects provide this amenity at the other amenities section marking with a checkmark.
Citizenship Of Turkey:
Turkey’s passport provides visa-free travel to 111 destinations worldwide, including major global commerce hubs such as Hong Kong, Japan, Singapore, Qatar, and many more. The reviewal stage is subject to the respective Government schedule and can be impacted by factors which we, as authorised agents have no control over. Savory and Partners collaborates with the Government throughout the entire process, and we aim to provide the quickest and smoothest experience for the applicant.
We work with real estate agents from all provinces of Turkey to find the best residential or commercial property as per request. Foreigners can obtain Turkish citizenship by buying real estate whose total worth is more than 250,000 USD or equivalent. The residence permits granted within the scope of subparagraph the Article 31, can be issued up to five years and the residence permit cards are mailed to the residence address of the foreigner in Turkey within 2-4 weeks. Our law firm is now one of the leading Turkey Citizenship law firms in Istanbul, Turkey. You may reach us for Turkey Citizenship by Investment through our Contact page.
Different Ways To Get Turkish Citizenship By Investment In 2021
In order to exclude the possibility of any types of burdens or encumbrances regarding the selected real estate, it is necessary to carefully analyze the real estate documents. Prices for Turkish real estate are much more attractive than for European ones. At the same time, the real value of real estate in the Turkish market is significantly underestimated. Your expenses for the Turkish citizenship program for investments will be much less than for any European programs providing economic citizenship to foreigners.
Alternatively, contact us today, give us an outline of your budget and what you want in a property, and we will send a portfolio of eligible homes for Turkish citizenship by email or Whatsapp. From paying the deposit to putting the keys in the door, we assist all our homebuyers with the property purchase process, and if finances and paperwork are in place, they receive the title deeds in as little as one day to three weeks. Following the currency and economic crises in mid-2018, the USD/TRY exchange rate increased drastically and TRY went down nearly 40%. This currency crises also affected the real-estate market and the previously established criteria for foreign purchases.
A Turkey citizenship by investment specialist can offer more detailed information on the program requirements. Moreover, if you opt for the property investment pathway, you are obliged to pay some tax. The Turkish Citizenship by Investment Scheme is one of the most attractive programs purely because it’s so straightforward to receive a Turkish passport. Have a passport in your hands within four months, with no minimum residency period required and visa free travel opportunities. The most important issue in the payment of the purchase price of real estate is that all payments must be made from the buyer’s bank account to the seller’s bank account.
It typically takes between 3 to 4 months after your application submission for you to get approval. During this time, there will be a national security study carried out on your application. There will not be any background checks, including your personal funds, conducted during this time. Turkey has one of the best national healthcare systems in the law firm istanbul world and is ranked 3rd for medical tourism destinations. If you’re planning on moving to Turkey long-term or in the future, the government provides pension programs for citizens. Turkey is the perfect location between East and West to establish any business, with international links and government schemes to encourage investment and SME businesses.
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. It also has one of the highest GDP rates per capita when compared to other countries that offer citizenship by investment. Three years ago, we didn’t think that the Turkish citizenship by investment program was going to amount to much. They had just launched it back in January 2017 and with the entry cost of at least $1 million, there weren’t many takers.
In May 2017, the Turkish government introduced the Citizenship by Investment Program , under which applicants were required to invest 1 million dollars to obtain a Turkish passport. As one might suppose, not many people found this program attractive and the Turkish market did not experience turkish citizenship the expected increase of foreign capital. Foreigners who obtain the certificate of conformity shall initially apply to the Provincial Directorate of Immigration Administration for a residence permit and then to the Provincial Directorate of Census and Citizenship for citizenship.
To understand the program’s success, in the first 24 months, 10,000 applicants have been approved and received citizenship rights. Since Turkey maintains a visa treaty with the USA, Turkish citizens can invest a significant amount (typically $120,000 (≈₹87 lakhs) or more) in owning at least 50% share of a U.S. business and obtain the E-2 visa. This visa allows foreign investors to live, work and study in the USA for two years initially. Once you receive the residence permit, you can directly apply for citizenship without appearing for an interview or being physically present in Turkey.
What’s more, Turkey brings in an average of $250 million a month from its foreign investors. Once you have held onto your investment for the minimum period of 3 years, you will become a Turkish citizen for life, as will your spouse and children. A Turkish passport would grant you visa Turkish staying permit free/ or on arrival access to 115 countries, including Japan, S. Korea, and the majority of S. Turkish citizens also benefit from easy visa access to the US, UK, EU, Canada, and Australia. Apply for citizenship in a G20 country, with twice the GDP of Portugal and Greece combined.