Recent updates to the Turkey citizenship by investment program have made it far more affordable to obtain Turkish citizenship for investors. An investment into real estate of $250,000 US will enable you and your family to obtain Turkish citizenship in as little as 6 months. Property price is determined by the valuation undertaken by The Ministry of Environment and Urbanisation rather than the actual purchase price.
In addition to this there is also a fast track option to gain citizenship in Turkey. This requires a deposit of $500,000 into a Turkish bank account. This amount must remain in the bank account for a minimum of three years. Under this scheme, single children over 18 are eligible for permanent residency but will need to wait 5 years to gain citizenship. The main applicant only will have to travel to Turkey once in order to apply for permanent residency, the remaining applicants are not required to travel. There is also the potential to include a second wife in a single application.
The Turkish passport allows visa free travel to 111 countries including Singapore, Japan, South Korea as well as other main countries in Africa, Asia and South America
Terranova Global, with offices in Dubai, Istanbul, Malta and London will assist in all manners related to gaining citizenship which include advisory, financial, property and legal services.
Applicants will receive citizenship and a passport after approximately 6 months. This program allows the main applicant to include their spouse as well as children under the age of 18. There may be a requirement to travel to Turkey for an interview by Government officials as part of this process.
The Turkey Citizenship by Investment program was established in 2016, however recent modifications to investment levels have made this program far more attractive to investors. Turkey lies between the Middle East and Europe and therefore is a place of mass appeal due to influences from both the East and West. It is one of the more affordable citizenship programs and is even more attractive due to its opportunity to invest in the real estate market.
|Timeframe||3 - 6+ months|
|Visa Free Countries||Travel visa free to 111 different countries including the major countries in Asia including Singapore, Japan, Malaysia as well as key countries in South America and Africa|
|Type Of Investment||Real Estate investment for a minimum of 3 years or a $500,000 deposit into a bank account in Turkey for a minimum of 3 years|
|Cost Of Investment||$250,000 or $500,000|
BENEFITS OF TURKISH CITIZENSHIP AND PASSPORT
Turkey is a large country, stretching over 1000 miles wide and 400 miles long and is bordered with Greece and Bulgaria to the West, Georgia, Iran and Armenia to the West and Syria and Iraq to the South. Being such a large country, Turkey has a vast and varied topography. It is surrounded by 3 seas, The Black sea, Aegean Sea and the Mediterranean so is spoilt with coastline. Turkey is largely mountainous with ranges extending from east to west and is blessed with a continental climate due to the large land mass although conditions can vary across the country impacted by location and this in turn impacts flora and fauna meaning Turkey offers a wide and varied scenic experience depending on what part you visit.
Turkey has a rich and deep history however referring to modern Turkey – this was founded after WWI in 1923 and the new capital Ankara was proclaimed. Istanbul is however the major city in Turkey with a population of over 15 million people. It is known as the cultural capital of Turkey with over 7 million tourists descending on the city each year to see the world-famous mosques, palaces, museums international shopping destinations and the world’s first shopping mall – The Grand Bazar.
Turkey has the worlds 17th largest GDP and is one of the world’s biggest providers of textiles, agricultural equipment, consumer goods and appliances as well as cars and transportation equipment and it offers an array of opportunity for potential investors and residents. It is a Muslim country, with nearly 98% of the country identifying as Islam, therefore making it a highly sought after location for GCC residents and beyond who identify with this religion.
TIMELINE Of TURKEY CITIZENSHIP APPLICATION
Upon signing of the Terranova Global Contract, the application process will begin
An initial due diligence check will be run on the individual to highlight any potential issues with the application
Agency fees to be paid
A clear document list will be provided to the applicant for them to collate
If the applicant is applying through the real estate program, The applicant will finalise the decision on the property to be purchased with the support of Terranova Global
The applicant will finalise the decision on the property to be purchased with the support of Terranova Global
If applying under the real estate scheme the Title Deed of the property will be obtained once purchased and bank accounts in Turkey will be opened
If applying under the bank deposit program, the applicant will open a bank account and the money will be deposited. The main applicant will then travel to Turkey and finalise the permanent residency aspect of the application
Terranova Global will check all documents including title deed, and these will be submitted together
There may be a requirement for the main applicant to be interviewed by Government officials in Turkey.
For those purchasing real estate, the Valuation of the Property will be conducted under the Ministry of Environment and Urbanisation to confirm valuation of greater than $250,000 and Residence permits will be issued
Under the bank deposit scheme Citizenship will be granted and passports finalised
*Time estimates may vary
TURKEY PASSPORT VISA FREE COUNTRIES
FAQs ABOUT TURKEY CITIZENSHIP AND PASSPORT