There are many reasons to apply for a second citizenship. How do you find the best opportunity? Which country has the highest cost for your second passport? Over the past three years, about 20,000 people have found Turkish Passport by Investment an attractive option. Find out what Turkish citizenship is like through the investment process.
How to obtain Turkish citizenship
In 2017, the Turkish government launched a program to support foreign investment in Turkey. They are citizens who invest a certain amount of money through several pre-approved investment methods.
Many countries around the world offer this type of investment citizenship program (CBI), but the rules for obtaining citizenship through investing in Turkey are the simplest. Turkish president launches CBI program to provoke Turkey Turkey stagnated in 2016 after a series of terrorist attacks and coup attempts. Foreign investment has fallen sharply. And this country is facing a huge budget deficit
Turkish Passport by Investment: thresholds were high when the Turkish government first launched the CBI project. You need to buy at least $ 1 million in real estate or invest at least $ 3 million. People care little. In 2018, the government reduced rates to a fraction of what it was before. And now, the project attracts thousands of investors every year. The Turkish CBI program is open to all foreigners except Armenia, Cuba, Nigeria, North Korea and Syrian citizens.
Obtaining citizenship through investment in Turkey
Laws governing citizenship through the Turkish investment process offer three ways to obtain a Turkish Passport by Investment. The minimum amount required since the amendment of the original law is less than in other countries. Many other countries
Buy property in Turkey
You can get a Turkish Passport by Investment in property. You must invest at least $ 250,000 in real estate. Unlike other nationalities in investing countries that need to buy certain properties with predefined development. In Turkey, you can buy real estate almost anywhere. This includes real estate in Istanbul and beaches and attractions such as Izmir and Bodrum. This option is the most popular because the Turkish lira is weaker than the dollar and the euro. Real estate is cheap and usually increases in value over time. You can rent real estate to get your capital back quickly.
Turkish law does not restrict your purchase. Houses, apartments and land are all covered. However, you can not buy more than 10% of an area. Purchases can not be more than 30 hectares (approximately 74 hectares) and can not be located. .. in a military safe zone
If you want to buy several properties that you want to combine with an investment of $ 250,000 or more, the property must be in the same neighborhood. Everyone must register in one day. You must keep the property for at least 3 years.
Real Estate Investment in Turkey
There are several ways to obtain Turkish Passport by Investment. The minimum investment is $ 500,000. You can deposit it in a Turkish bank. You can also buy government bonds. Another option is to buy real estate or venture capital stocks. Finally, you can invest directly in Turkish business.
If you deposit money in a Turkish bank, you do not need to deposit money in lira. The lira is an unstable currency and has lost much value in recent years. Investing in more stable currencies such as the dollar and the euro is safer than using the lira. You need to make sure it’s $ 500,000.
The third option is to start an employment business in Turkey. Once the CBI program starts, you must hire at least 100 employees. The change in 2018 reduced the number of employees to 50.
This method is more complicated than other methods. You need to find out the rules and regulations of Turkish companies. If you already have a business and want to do business in a country with low labor costs. Or if you want to start a business in another country, this option might be worth considering.
- If you are planning to establish a long-term legal business in Turkey, it is recommended that you create a job and obtain Turkish citizenship.
- Turkish citizenship through investment application
- The process of investing in Turkey and applying for citizenship usually takes 3 to 4 months. You do not have to live in Turkey. And you do not have to learn Turkish. There is no formal interview process in Turkey.
- Steps to apply for Turkish citizenship by investing in real estate
There are several stages in the process of buying property and acquiring Turkish citizenship. First you need to find and buy real estate. Buying property in Turkey as a foreign investor requires various management requirements such as obtaining a tax registration number and opening a bank account in Turkey.
You must obtain a certificate of competency after purchasing the property. This ensures that you comply with the legal requirements of your investment. Head of the Registry of Deeds and Real Estate and Cadastre, which is under the Ministry of Urban Development and Environment.
Monitor the use of these certificates
Next, you need a temporary residence permit. Investors generally enter Turkey on a valid visa. Then apply for a short-term residence permit. If your application is part of the CBI process, you can get your license within 10 days of applying online.
Once you have the conditions and residence permit, you can apply for citizenship. This program requires a large list of documents and must be translated into Turkish. Some documents require notarization and / or messengers.
After submitting your application to the Census and Nationality Office, you can go home and wait for the Turkish passport to be mailed.
Why choose a Turkish Passport by Investment?
Turkish Passport by Investment gives you several benefits through investment. This process is faster and easier than in some countries. The initial investment is also competitive.
Turkey has several tax incentives that can help reduce the tax burden and maximize return on investment. Inheritance law protects heirs and allows them to transfer assets to them. With a Turkish passport you can travel to more than 110 countries without a visa. You can apply for a Turkish E-2 Investment Visa to live and work in the United States. You and your family are eligible for the Turkish medical system. That can access the system for free.
Get a Turkish passport
If you decide that Turkish Passport by Investment is right for you. To do this, you need to find the right partner. Second Nationality has been helping clients achieve their economic citizenship goals since 2008. This simplifies the process and helps ensure that your application is approved. We have a complete legal team in Istanbul, Turkey that will work with you during this process. Please contact us for a consultation program. Property Investment in Turkey look forward to working with you.