Turkish Citizenship by Investment

Turkish Citizenship by Investment in 2024

As amended in the Regulation on the Implementation of the Turkish Citizenship Law, foreigners have several investment options to qualify for Turkish Citizenship for themselves and their families. The applicant's spouse and children under the age of 18 can also obtain Turkish citizenship by providing one of the investment options listed below.

The criteria for eligibility for Turkish citizenship are as follows:

• Foreign persons who make a fixed capital investment of at least 500,000 US dollars or equivalent currency or Turkish lira,
• Foreigners who purchase real estate worth at least 400,000 US dollars or equivalent currency or Turkish lira (It is mandatory to annotate in the relevant land registry that this real estate cannot be sold for 3 years.)
• Foreign individuals who create employment for at least 50 people,
• Foreign persons who deposit at least 500,000 US dollars or its equivalent currency or its equivalent Turkish lira to banks operating in Turkey and keep their deposits in the bank for 3 years,
• Foreign persons who purchase government bonds worth at least 500,000 US dollars or equivalent foreign currency or Turkish lira and keep a reserve for 3 years,
• Foreign individuals who purchase real estate investment fund shares or venture capital investment fund shares worth at least 500,000 US dollars or equivalent foreign currency or Turkish lira and keep a reserve fund for 3 years

Foreign investors who meet one of the conditions mentioned above can exceptionally qualify for Turkish citizenship by the decision of the President.

Detailed processes regarding the investment options most preferred by foreign investors in acquiring Turkish citizenship are as follows.

Real Estate Investment

• Determining the real estate to invest in: In this option, the foreign applicant must choose a real estate with a minimum value of 400,000 US dollars or its equivalent currency or Turkish lira to purchase.
• Valuation Report Requirement: The real estate must be evaluated by an appraiser. This process can only be carried out by an appraisal institution authorized by the Capital Markets Board. The valuation report should state the market value of the property to be purchased and ensure that the property meets regulatory financial limits.
• Sale and Annotation in the Land Registry: Following the sale of the real estate, the applicant's name will be registered on the real estate, and it must be annotated in the land registry that this real estate will not be sold for at least 3 years.
• Issuance of a Certificate of Compliance: The Valuation Report, the title deed and the document proving that money has been transferred to the seller are submitted to the Department of External Services of the Directorate of Land Registry and Cadastre under the Ministry of Environment and Urbanization to obtain the Certificate of Compliance. If the foreign applicant meets the criteria, a Certificate of Conformity is issued by the Land Registry and Cadastre Directorate.
• Residence Permit Application: A special residence permit for investors must be obtained from the General Directorate of Migration Management of the Ministry of Internal Affairs. The validity period of this residence permit is a minimum of one year.
• Application for Turkish Citizenship: The applicant foreign individual can apply for Turkish citizenship to the General Directorate of Population and Citizenship Affairs after the residence permit is approved. The applicant must submit the title deed of the property and the Certificate of Eligibility, along with standard application documents. The Directorate investigates the applicant's background, focusing particularly on national security and public order issues. After the background check is completed, the applicant's file is sent to the Presidency. If the application is approved by the President, the application is returned to the General Directorate of Population and Citizenship Affairs to complete the process.

Investment in Banks Operating in Turkey:

• In this option, the applicant must deposit a minimum of 500,000 USD or its equivalent currency or Turkish lira to banks operating in Turkey and keep the deposit in the bank for 3 years.
• Issuance of Certificate of Conformity: The applicant must apply to the Banking Regulation and Supervision Agency (Financial Consumer Relations Department) to obtain this document.
• Residence Permit Application: A special residence permit for investors must be obtained from the Ministry of Internal Affairs, General Directorate of Migration Management. The validity period of this residence permit is a minimum of one year and does not allow the applicant to work in Turkey.
• Application for Turkish Citizenship: After the residence permit is approved, the applicant can apply for Turkish citizenship to the General Directorate of Population and Citizenship Affairs. The Directorate will investigate the applicant's background, focusing particularly on national security and public order issues. After the background check is completed, the applicant's file will be sent to the Presidency. If the application is approved by the President, the application will be returned to the General Directorate of Population and Citizenship Affairs to complete the process.

Required Documents for Citizenship Application File

• Application Form / Petition
• A valid passport or similar document showing the applicant's nationality. If the applicant is stateless, a document confirming the applicant's status,
• A document showing the applicant's marital status. Marriage certificate if the applicant is married, divorce certificate if the applicant is divorced, death certificate if the applicant is widowed,
• Birth certificate confirming the applicant's identity information or any other document containing the applicant's identity information. If the applicant is married, a civil registry copy or similar document showing the family ties of his/her spouse and children,
• If the applicant has relatives who are first- or second-degree Turkish citizens, Turkish ID photocopies and addresses of their relatives in Turkey
• Biometric photo
• Receipt showing that the application fee has been paid to the relevant authority.

Documents Required for Foreigners Short-Term Residence Permit

• Application Form
• Notarized and certified copy of passport or similar travel document
• 4 biometric photographs
• Proof of having sufficient and sustainable financial resources for the duration of stay
• The applicant's residence title deed (required for foreigners who own real estate (property in Turkey)) (or rental agreement or similar document for the address in Turkey)
• Valid health insurance. One of the following will be sufficient:
• • Private health insurance
  • Proof of accessing health services in Turkey within the scope of bilateral social security agreements
  • Provision document issued by the Social Security Institution
  • Document regarding the application made to the Social Security Institution within the scope of general health insurance

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