Common Questions on Turkish Citizenship by Investment
Turkish citizenship rules are straightforward. The following are some of the most frequently-asked questions on Turkish Citizenship by Investment
What are the Benefist of Turkish Citizenship?
The reason that most investors prefer the Turkish CBI program is so that they can conveniently reside, work, open businesses, and invest in Turkey just as freely as the rest of the Turkish citizens. Foreign investors and international business owners often opt for Turkish Citizenship by Investment in order to avoid the hurdles of applying for and extending residence and work permits every year.
Furthermore, Turkish passport holders have visa exemption with 72* countries and can enter another 37* countries by obtaining visas on the border and 10* more countries by obtaining online visas. Turkish citizens who hold “special passports” may enter 111* countries visa-free, including all Schengen-zone countries. These special passports are not diplomatic passports and are given to public sector employees, businesspeople, and lawyers. (*figures may change over time).
However, perhaps the most attractive aspect of the Turkish CBI program is that, unlike most other CBI programs in the world, it does not require any donation to the state or mandate for investing in government-appointed areas and low-value assets. With the Turkish CBI program, the investors keep all of their investments and withdraw in full in 3 years with added profits or interest that accumulate during those years.
Finally, the paperwork required for the Turkish citizenship application is relatively simple and straightforward in comparison to the most other CBI programs in the world.
Does the Property have to be Residential to Qualify for Turkish Citizenship?
It does not have to be a residential property; it can also be a commercial property.
Can I Buy More Than 1 Property and Qualify for Turkish Citizenship?
You may invest in multiple properties as long as the total amount of investment meets the minimum required amount.
Can More Than 1 Person Invest in the Same Property?
You may co-invest in a single property with another investor, and you may both apply for CBI as long as each investor’s individual share of the investment meets the minimum required amount.
Does Turkey Allow Dual Citizenship?
Turkey allows dual citizenship. If your other nationality allows dual citizenship too, you can keep your other citizenship while applying for Turkish citizenship by investment.
Do I need to Live in Turkey to Apply for Turkish Citizenship?
If you apply for Turkish citizenship by investment, you must first obtain a residence permit. Obtaining a residence permit requires either buying or renting a property. If you are applying for Turkish citizenship by way of an investment of 400,000 USD into residential real estate, then you may use that property as your address of residence, provided that you do not rent it out. Obtaining a residence permit based on investment may be done via an Turkish citizenship lawyer and does not need you to reside in Turkey.
Do I need to Speak Turkish to Apply for Turkish Citizenship?
You do not need to speak Turkish to apply for Turkish citizenship by investment. Speaking Turkish is required for other types of applications for citizenship.
Can I Use a Bank Loan to Buy the Property?
When you are applying for Turkish citizenship, you may not use a bank loan from Turkish banks to cover any part of the minimum required investment of 400,000 USD. However, you may use a bank loan for an amount that exceeds 400,000 USD.
Click here to learn the basics of Turkish Citizenship by Investment program.
Antalya Citizenship Lawyer Baris Erkan Celebi and his Antalya Citizenship Law Firm specialize in foreign investments and citizenship applications and provide a wide range of services. Antalya citizenship attorney’s services include doing background checks on the property to make sure that the property is eligible for citizenship application and that there is no debt/mortgage/reservation on the property, drafting and reviewing any agreements signed between the investors and the seller/realtor, securing the payment, securely registering the property on the investor’s name, registering a pledge not to sell the property for 3 years, applying for Turkish citizenship and finally obtaining Turkish passport.
Turkish Citizenship by Investment: How Does it Work? What is the new Turkish CBI Program? As per the 106th Presidential Order, foreign nationals who either: Buy or pledge to buy real estate(s) worth at least 400,000 USD with a pledge not to sell it for...
