As many other countries, Turkey also may grant citizenship to investors. However, Turkey stands out as a strategically important country for foreign investors.
For obtaining Turkish citizenship, you just need to purchase a real estate by paying USD 250,000 or higher. However, citizenship is granted not on the day of purchase, but within the following 3 years. In addition, you are required to undertake not to sell the real estate within the same period.
There a quite a lot procedures required to be performed by foreign investors before purchase. In particular, the investigation for the proximity of the real estate to any military zone and its strategical importance may take around 3 months. On the other hand, this procedure can be skipped if there is any other real estate previously purchased by a foreign investor on the same parcel of land.
Foreign investors need to get special appointment before the purchase transactions that are performed by specialists.
It is clearly stipulated in the law that foreign investors do not need to specify a residence address, which means that any person who is not located in Turkey may easily purchase a real estate.
When the said investment of USD 250 thousand or higher is made, 3 years residence permit is granted to the investor and his or her family, and citizenship is granted after 5 years of continuous residence.
Turkey is a very popular destination especially in the Middle Eastern region. While the country attracts the attention of investors thanks to this popularity, its position as a bridge between the continents of Europe and Asia provides a nice mosaic for many people to prefer to experience the multicultural structure of the country. On top of that, living standards comparable to the European countries make Turkey stand out as a favourable option for foreign investors.
How Does the Real Estate Purchase Process Work in Turkey?
The steps for making an investment in Turkey and obtaining citizenship as a result can be summarised as follows:
- Foreign investors firstly apply to a consultancy firm (it is highly recommended to work with a consultancy firm with high level of expertise in the field).
- Applications are made after the real estate to be purchased is determined. There is a certain waiting period after the application, during which necessary intelligence procedures are completed. In such intelligence procedures, certain details such as the proximity of the real estate to any military zone and strategical importance of the area are investigated. The process gets much shorter, if any other foreign investor previously bought a real estate on the same parcel of land.
- Special appointment is get for the title deed transfer transactions, which may be performed in Istanbul or Ankara.
- Citizenship application can be made by undertaking not to sell the real estate for 3 years after purchase.
- Identity documents and residence permits are issued in a short time to allow the investor and his or family to start living in Turkey.
What Are the Advantages of Being a Turkish Republic Citizen?
As is known, Turkish Republic citizens may enter 72 different countries without a visa, which is obtained with the citizenship rights. In addition, they are allowed to enter in 42 through the visa-at-gate procedures, which means that they just need to pay the visa fee without performing any official visa procedure.
Online visa applications can be made to 6 other countries including Australia by use of the Turkish passport. In addition to all these advantages, it should be noted that a marvellous life is waiting for you in Turkey.