Turkish Citizenship by Investment: A Comprehensive Overview

The Turkish Citizenship by Investment (CBI) Program, initiated by the 106th Presidential Order, stands out as a pivotal initiative allowing foreign nationals to gain Turkish citizenship through various investment avenues. This article explores the nuanced structure, the benefits, the processes, and the intricacies involved in this program, shedding light on its substantial features.

The Essence of the Program

The Turkish CBI Program encompasses several investment options as a route to acquire Turkish citizenship. Applicants can invest in real estate worth at least $400,000, maintain it for three years, or deposit $500,000 in a Turkish bank for three years. Investments of $500,000 in a company, employing 50 people in Turkey, or buying government bonds worth $500,000 are also viable paths. Notably, the program enables applicants to fast-track their citizenship along with their spouse and children under 18.

Rationale and Advantages

The appeal of the program lies in its convenience and the extensive benefits it offers. It enables international investors to reside, work, and indulge in business and investment opportunities akin to native Turkish citizens, eliminating the need for perennial residence and work permits. The Turkish passport, accentuating the allure, ensures visa exemptions with 72 countries, and facilitated entry into others, especially for special passport holders, encompassing business people, public sector employees, and lawyers. Unlike many counterparts, the Turkish CBI program does not mandate donations or investments in designated low-value assets. The simplicity of paperwork further adds to the program’s attractiveness.

Dual Citizenship and Eligibility

Turkey’s endorsement of dual citizenship allows individuals to retain their original nationality, contingent on their country’s allowance of dual citizenship. Eligibility requires obtaining a residence permit through property purchase or rental, sans the necessity to reside in Turkey or to be proficient in Turkish, unless applying through different citizenship routes. The documentation involves passport copies, birth certificates, marriage certificates, biometric photos, a power of attorney, and a family status certificate, all needing Apostille stamps as per the La Hague Convention for recognition in Turkey.

Diverse Investment Possibilities

The investment property, pivotal for application, can be of varied types – residential, commercial, or agricultural, and can involve co-investment, provided the minimum investment threshold is met individually. The investment route should be meticulously confirmed, ensuring compliance with the stipulated financial benchmarks, and must involve transactions with Turkish citizens devoid of familial or partnership ties with the applicant.

Navigating through the Process

Once the investment is actualized, obtaining an “Eligibility Certificate” is crucial, followed by an “investor’s residence permit” and the procurement of the requisite documents. Subsequently, the citizenship application is processed, culminating in the issuance of Turkish ID card and passport upon approval. This comprehensive process, typically spanning 3-4 months, is expedited efficiently with legal assistance.

Considerations and Confirmations

It is imperative to note that the application prohibits the use of Turkish bank loans for the mandated minimum investment amount, permitting it only for amounts exceeding $400,000. The eligibility of the property is contingent on adherence to stipulated financial parameters and transactional compliance, necessitating thorough validation.

Conclusion

The Turkish Citizenship by Investment Program stands out as an advantageous and multifaceted route for foreign nationals seeking the privileges of Turkish citizenship. The program’s diverse investment routes, substantial benefits, eligibility convenience, and procedural simplicity make it a lucrative option. Potential applicants must navigate through the intricate details and adhere to the norms to ensure a smooth and rewarding journey towards acquiring Turkish citizenship. In order to safeguard your investment, please consult with an experienced Turkish immigration lawyer before you commit to an investment for the purpose of applying for Turkish citizenship.