Plus, setting up a company, running a payroll and all that comes with its own costs. Ever since January 2017, you can basically buy your way to Turkish citizenship. Please What Is a Citizenship by Investment Program? well as Antalya, Izmir, Mugla, Bodrum, Bursa, Yalova, Trabzon and other towns in Turkey. advising our clients on a variety of CIP (Citizenship by Investment) programs including Carebbean programs; Dominica, Antigua & Barbuda, St. Kitts, Grenada Citizenships by Invesment, and Malta Citizenship lawyers in Istanbul, Turkey, we can also advise you thoroughly on your Turkish citizenship applications through Bank Deposit Option. Turkey allows Dual & Multiple Citizenships. (Turkish Lira), EURO, GBP or other major currencies depending on Investor’s own choice. The person who will apply for Turkish citizenship, while continue to live in his/her own country, after getting Turkey residence permit he/she can apply for the acquisition of Turkish citizenship. This means once after obtaining Turkish citizenship, you can apply for US E2 Visa thus you can relocate to the United States together with your family. procedures without your travel to Turkey required. Turkey welcomes foreign investors to apply for citizenship by investment program. Some of this overpriced inventory was sold to people from the Middle East who had a lot of wealth but mediocre passports. Find out more in our guide. UAE, Saudi Arabia, Jordan, Iraq, Iran, Yemen, Algeria, Egypt, Palestine, Morocco, Syria, Bahrain, Kuwait, Qatar, Algeria, Malaysia, Bangladesh as well as the Asian Countries; China, India, Vietnam, So, let’s assume I buy a property there, get the residence permit, the passport and decide to live there for 3-5 month’s a year. submit Ankara Agreement applications either directly to the UK Home Office through our office in London or via the British Embassy in Ankara or British Consul General in Istanbul, Turkey. Turkey residence permit cost and money required when applying for a Turkish visa or residence permit will vary according to the kind of permit you are applying for and your home country. It is, however, a good passport to use as part of a passport portfolio or with my “Belt and Suspenders” strategy. The property shall essentially meet certain criteria including having a verified expert valuation report in place as well as a building license, and the title deed shall also be ideally clear Turkey Citizenship by Investment programme allows the investors/main applicants to invest into multiple properties/units, provided that the total amounts exceed $250k USD, you can proceed with Information about costs of setting up and running a business in Turkey, covering wages, utilities, and relevant expenses presented in tables and charts. An attempted coup d’etat of 2016 added fuel to the fire. It takes around 3-4 months to acquire Turkish Citizenship status officially once after the completion of the investment, and you can also collect your new Turkish Passports and ID Cards immediately after. According to previous regulations, foreigners can stay in the country for a maximum of three months on a tourist visa, after which time they … The cultural and socioeconomic implications of that on your life shouldn’t be many. It would be necessary to make a separate investments for them to obtain the Turkish citizenship or alternatively, you can consider to apply for Turkish Residency Permit (Turkish PR) for the To understand how the Turkish CBI program came to be, we need to understand what sort of situation the country found itself in four years ago. However, this shall be done prior Obtain a Residence Permit. The Investment Office, under the jurisdiction of the Presidency of the Republic of Turkey, has set out three options on how a foreigner can obtain a Turkish passport by investment. If you don’t know what a citizenship by investment program is, let us get you up to speed. Turkey does have its fair share of problems, as do all countries. by investment in our youtube channel. The real estate route is particularly attractive for investors. You make an investment in the country and you’re eligible to apply for a citizenship. Turkish residence permit system is governed by the Law on Foreigners and International Protection (Law no: 6458, Enacted 11.04.2013). She has a significant experience on Turkish citizenship by investment program as well as obtaining Turkish residency and work Highest GDP rate per capita when comparing with other CIP jurisdictions: One of the largest and strongest economies in the World. The Turkish citizenship by investment program is one the absolute easiest ways to obtain a  second passport out there, with even easier rules. ⤅  Turkey’s Citizenship by Investment Program, ⤅  Background: How Did the Program Come to Be, ⤅  Three Options to Obtain a Turkish Passport, ⤅  Other Ways to Obtain Turkish Citizenship, ⤅  Turkish Citizenship by Investment FAQs. Residence Permit May 13, 2020. The fact that only back in 2016, there was an attempted coup d’etat that took place in Turkey shows that it’s a country where things could change on very short notice. Restricted nationalities: Armenia, Cuba, Nigeria, North Korea, and Syria. But since they drastically dropped the rates, Turkey’s CBI program has flourished. As experienced immigration attorneys and Citizenship This is a measure introduced by the government, who recognise that more and more people are relocating to Turkey. We have also advised our Clients for them to obtain US Green Cards through EB-5 Program, and US E-2 Investor Visas therefore permanent USA Residency together with our partner firms and carefully selected If you’ve gone the real estate route, you will need to obtain a Certificate of Eligibility for your investment. We always recommend you do your due diligence. They do so by granting citizenship to people who invest a certain sum in the country through one of various pre-approved investments. Luckily, Turkey has made it a particularly easy one. This would be This equates to a staggering $3 billion in annual receipts! Herdem Gültekin Caylak is the Managing Director of Ketenci&Ketenci. No need to declare your wealth and source of investment for application. Let’s talk. If a marriage is in the cards for you, marrying a Turkish national could mean you’re eligible for a Turkish passport. Otherwise it will not be suitable to proceed for Turkish Citizenship. The residency permit would be renewable after 2 years as long as you would keep the legal ownership status of the property. He is a member of Investment Migration Council. Turkish Citizenship by Investment Programme to Investment Migration Insider in Global Citizenship Conference recently held in We also open new bank account in Turkey and also Can I live permanently in Turkey? It is essential to hold the property for at least 3 years, you can then sell the property without any limitations or restrictions. You will therefore get the full benefit of working with one of the most reputable and corporate law firms in Turkey working internationally for many years, advising on global and Turkish migration and Out of respect to those who engage our services, we don't provide personalized advice or referrals unless you engage us. Investment Office of the Presidency of the Republic of Turkey for Your email address will not be published. Neither is there a requirement to live in Turkey. We provide advisory services on foreign direct … US-based immigration lawyers. It’s best not to navigate all of this by yourself but with professional and legal help. Option (C) requires that a fixed capital investment shall be made minimum of $500.000 USD (or the equal value in Turkish Liras). We have been advising our respected clients on the Turkish Citizenship by Investment (TCBI) since January 2017, the introduction of the program by the Turkish government. If you are someone who likes investing in real estate, has cash sitting around, and wants to expand their global options, Turkey is a good deal. Recent Developments on Turkish Citizens Visa-Free Travel to EU-Schengen Zone: Turkish Health System proves successful against Covid-19, We were awarded as the Citizenship Law Firm of the Year in Turkey in 2018, Copyright 2020 © Ketenci & Ketenci International legal practice, Turkish Citizenship by Investment Program Rules. Greece Citizenship after 7 years of living (requires PR status) Free movement in 26 schengen states with residence permit issued by Greece (“A?EIA ?IAMONH?”) No residence requirements. It grants residency, citizenship and a second passport to applicants investing either in real estate or a bank deposit. No interview has to take place either. Hello, You do not need to be residence permit holder to establish a company in Turkey. Any foreigner who applies for Turkish citizenship by investment needs to obtain a temporary residence permit. They can include but are not restricted to the passport, birth certificate, residence permit, marriage certificate, the Turkish identit… By investing such amounts in Turkey, you can become a citizen of Turkey shortly within 3 months only after completion of investment. Investing in Turkey – Turkish Citizenship by Investment Program. Let’s talk about how you can achieve it in practical terms. As a rule, Turkish Citizenship by Investment Investors (Main Applicants) who are aged over 22 years old are all exempted of military in Turkey. Identifying the Investment Property with our Real Estate Team, Finalising the sale; registration of the property, Obtaining Turkish PR (Short-term Turkish Residency Permit), Submitting Turkish Citizenship Applications. As highly experienced Turkish citizenship and residency lawyers, we are pleased to offer our advice to our Clients for them to obtain Turkish citizenship by investment in 2020. There are a few challenging points that you do have to wrap your mind around, however. Erdogan couldn’t allow that. Its rich culture and stunning landscapes drew over 50 million people to its beaches and cities in 2019. In line with the new regulations in Turkish immigration law, foreign persons who would satisfy As soon as your residence permit is granted, you can submit your paperwork to the Provincial Directorate of Census and Citizenship. ⤅  What Is a Citizenship by Investment Program? Real estate permit is similar to tourist permit in many respects, but the former is stronger in terms of viability and duration of renewal granted. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, Don’t Miss These Discounted Caribbean Passports, 5 Passports by Investment With NO Donation Required, 3 Surprisingly Cheap Real Estate Markets Overseas. This investment shall be confirmed by the Turkish Ministry of Industry The good news is that as of 2013, property buyers will be granted automatic year-long residency permits instead of the three-month permits that were previously issued. Battling ISIS and the Kurdish rebels, who were to blame for the terror attacks, the Turkish government was overwhelmed. Short term residence permit shall be regulated by Articles 31-33 of the Law on Foreigners and International Protection No. According to the current law, a person can be granted the right of residence if they make an investment or buy real estate of not less than 300 000 GEL The draft law increases the amount of an initial investment to $300 000 equivalent in GEL. The application process usually takes just three to four months and it does not require that you learn any Turkish or go to a formal interview of any kind. 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