Turkey’s Citizenship by Investment Program has emerged as a fast-track route for foreign nationals seeking to gain Turkish citizenship while making a meaningful economic contribution. Launched in 2017 and periodically updated, the program offers multiple investment pathways paired with a streamlined application process.

1. Overview of the Program

Qualified applicants and their immediate family members can obtain Turkish passports within approximately 3–6 months. Key investment routes include:

• Real Estate Purchase: Minimum USD 400,000, held for 3 years.
• Capital Investment: Minimum USD 500,000 fixed capital, held for 3 years.
• Bank Deposit: Minimum USD 500,000 deposit, held for 3 years.
• Job Creation: Creation of at least 50 jobs, no holding period.

2. Eligibility Criteria

To qualify, applicants must satisfy the following requirements:

• Age: Must be at least 18 years old.
• Clean Record: No history of serious criminal convictions.
• Investment Commitment: Proof of investment held for a minimum of three years.
• Health Insurance: Valid coverage in Turkey for applicant and dependents.

3. Investment Options

• Real Estate: Title deed registered in investor’s name, maintained for three years without sale.
• Capital Investment: Notarized certificate from the Ministry of Industry and Technology, held for three years.
• Bank Deposit: Letter from the bank confirming USD 500,000 deposit, maintained for three years.
• Job Creation: Formal employment of at least 50 Turkish citizens under social security provisions.

4. Application Process

1. Due Diligence & Planning: Engage a licensed law firm to verify documents and applicant background.
2. Investment Execution: Complete purchase or transfer, obtain title deeds or bank letters.
3. Permit & Residency: Apply for a short-term residence permit to facilitate the citizenship application.
4. Citizenship Application: Submit passport copies, photos, health insurance, and investment evidence to the Provincial Directorate of Migration Management.
5. Review & Approval: Directorate reviews within 60 days; Presidential Cabinet issues final decision.
6. Passport Issuance: Schedule an appointment to receive Turkish passports for the family.

5. Legal Considerations

• Title Deed Encumbrances: Ensure property is free of liens or disputes.
• AML/KYC Compliance: Full disclosure of funds’ source is mandatory to avoid delays.
• Family Inclusion: Spouse and unmarried children under 18 are included; over-18 dependents require separate approval.
• Policy Changes: Investment thresholds and regulations may change; ongoing monitoring is essential.

6. Tax Implications & Aftercare

• Property Tax & VAT: Transfers trigger taxes and VAT in certain cases.
• Ongoing Reporting: Annual Turkish tax returns are required for income-generating assets.
• Post-Citizenship Benefits: Full rights as citizens, but plan for global asset reporting under CRS standards.

7. Conclusion & Next Steps

Navigating Turkey’s Citizenship by Investment Program requires meticulous planning, timely execution, and up-to-date legal guidance. SP Law & Consultancy offers end-to-end support—from selecting the optimal investment route to preparing and submitting your citizenship application.