Turkish Citizenship for International Benefits:
The new Turkish regulation, which was declared on September 18th, the Republic of Turkey grants citizenship to foreigners who purchase a real estate asset with a minimum amount of $250.000 USD (or Turkish Lira equivalent) free of charges and encumbrances, and hold onto for at least 3 years.
No need to wait for the 3-year investment period before making the citizenship by investment application, the application will be immediately submitted after the property is registered in the name of the investor.
Advantages:
The Turkish citizenship is also granted to the spouse of the investor and children below 18 years old.
So all the family members can enjoy the benefits of holding the Turkish citizenship.
- Right to reside in Turkey. No requirement for the applicants to reside in Turkey for a Minimum period of time.
- Right to work in Turkey without limitations.
- Right to sell the property after 3 years period.
- Allows multiple citizenship.
- Visa free travel for more than 100 countries.
- Simple visa applications too many countries.
- Future access without visa to EU, 26 Schengen Zone Countries.
FAQ:
- How Long Does the Citizenship Application Take?
Answer: The citizenship application may take from 3 to 6 months.
- Do I need to wait 3 years after making the investment to apply for the Turkish citizenship?
Answer: No need to wait for 3 years. You are eligible for Turkish citizenship application right after you finalize the investment. However, you cannot sell the property for 3 years.
- Do I need to stay in Turkey for any specific period of time before or after the citizenship is granted?
Answer: No, you don’t need to spend time in Turkey to be eligible to apply for the citizenship.
- Can I use a bank loan to buy the property?
Answer: When you are applying for Turkish citizenship, you may not use bank loan from Turkish banks to buy the property.
- Can I keep my other citizenship?
Answer: Yes, Turkey allows dual citizenship.
- Do I need to speak Turkish In order to apply for Turkish citizenship?
Answer: No, you do not need to speak Turkish.
- Do I need to buy a residential property in order to apply for Turkish Citizenship?
Answer: The property you choose to buy may either be a residential or a commercial property.
- Can there be more than one person in the Title Deed of the property?
Answer: Only one person can be owner of a property in order to be eligible for Turkish Citizenship by Investment application.
- Can my child who is 17 years old and 6 months apply for the Turkish Citizenship?
Answer: Age of your child while starting the application procedures will be taken under consideration. As long as you start application process before your child turns 18, he will be eligible for acquisition of Turkish Citizenship. Children of investor, which are over 18 years old are not eligible for the application even if they are financially dependent on their parents.
- After the citizenship is granted, can I work in Turkey?
Answer: After Turkish Citizenship would be granted to you on basis of investment, you have the same rights as Turkish Citizens by birth and you can work within Turkey with no need to obtain work permit.
- Are my parents eligible to apply for the Turkish Citizenship?
Answer: Only the spouse of investor and their children, who are under 18 years old are eligible to acquire Turkish Citizenship on basis of the program. These rights do not apply to investor’s parents.
- Do I need to be in Turkey at any time during the process?
Answer: No, your lawyers can handle the whole process on your behalf and on behalf of your family member’s.
- Can I rent my property?
Answer: Yes, it is also not required for you to live in the purchased property within the Turkish Citizenship by Investment program, you are allowed to rent it.
- Can I buy several properties to fulfill the 250,000 USD limit?
Answer: You can purchase several properties which have a total value of at least 250.000 USD. There is no limit on the number or type of the property. The values declared at the sale at Property Registry Office and appraisal values should be consistent.
- Can I change my name in the Turkish Citizenship application?
Answer: Yes, you can change your name when your lawyers submit the Citizenship application. However, your New name should be a Turkish name that cannot contain the letters “X”, “W”.
How Can MAXIMUS MIGRATION Firm Can Help You?
With more than 10 years’ experience in the Turkish market and specialized in Citizenship by Investment Programs in Malaysia, Turkey, Portugal and Spain, Maximus Migration will handle the full process on your behalf until you and your family members become Turkish citizens.
We will provide full assistance by:
- Preparing the promissory agreement. Providing legal advice for the real estate investment implications.
- Applying for VAT exemption document, when applicable.
- Appraisal report.
- Obtaining Tax ID number.
- Opening a bank account in s Turkish bank.
- Title Deed exchange.
- Annotation in the title deed
- Certificate of Conformity application.
- Preparation and submission of the residence permit application.
- Tax payments.
- Submission of citizenship application for the investor and family members.
- Translation and notarization of foreign documents.
Please do contact us, for any further inquiry or concerns.
We will be happy to assist. By contacting us, you have made 'the first step in getting it right'. Migration is usually a once-in-a-lifetime affair! Our experience will assure things go hassle-free and completely smoothly.
