Türkiye

Citizenship by Investment Program

About Türkiye

Türkiye is located in a unique geographic position, lying partly in Asia and partly in Europe. Throughout its history Türkiye has acted as a bridge between the two continents. Türkiye is stated at the crossroads of the Caucasus, Balkans, Middle East, and the eastern Mediterranean. It borders Bulgaria, Georgia, Armenia, Azerbaijan, Iraq and Syria with an area of 783.562km2 (bigger than any European state). In the 14th century, the Ottoman Empire began a long expansion, reaching its peak during the 17th century. The modern Turkish republic, founded in 1923 after the collapse of the Ottoman Empire, is a nationalist, secular, democratic parliamentary republic system.

Culturally, as in so many other respects, Türkiye sits between East and West, drawing elements from both to produce its own unique blend and has a rich archaeological legacy from the civilizations of Classical Europe and the Islamic Middle East. The population is about 84 Mio of which nearly 16 million live in İstanbul, the largest city of Türkiye. About half the population is under the age of 30. Life expectancy is 78 years for women and 73 years for men.

The proportion of renewable energy in Türkiye is around 25–26% and this is twice the EU average. Türkiye plans to raise this to 30% by 2023. In 2017, the OECD expected Türkiye to be one of the fastest growing economies among OECD members during 2015–2025, with an annual average growth rate of 4.9 percent. Türkiye ranks 8th in the list of countries in the field of steel production. Around 60 different minerals are currently produced in Türkiye and the country is the 10th producer of minerals in the world in terms of diversity. Türkiye has been the world’s 8th largest agricultural producer since 2008. Turkish companies made clothing exports worth $13.98 billion in 2006; more than $10.67 billion of which (76.33%) were exported to EU member states.

Türkiye is a member of the United Nations (UN), Council of Europe (CoE), G20, NATO and candidate country of European Union (EU).

Turkish Citizenship by Investment

In accordance with the amended Turkish Citizenship Law, foreign persons who satisfy one of the below mentioned investment requirements are able to obtain Turkish Citizenship (TC) by Investment:

Option A

stipulates that a minimum amount of property investment shall be made for $250k USD on the condition to not sell the property within the next 3 years.

Option B

is to Deposit $500k USD in cash (or the equal value in Turkish Lira) for at least 3 years in one of the Turkish Banks

Option C

indicates that Turkish Citizenship could be obtained with the purchase of Eurobonds issued by Turkish Banks of minimum $500k USD on the condition to hold for at least 3 years.

The procedures for Turkish Citizenship by Investment program are quite straightforward. Once Property Investment/Bank Deposit is completed, foreigners will then initially apply for a short-term Turkish Residence Permit, can obtain 1 year valid Turkish Residence Permit shortly within 1-3 weeks after completion of investment.

Once this is done, foreigner will then immediately apply for Citizenship for all family members/applicants at that time. The final approval for acquisition of Turkish Citizenship would be declared by the Turkish governmental authorities usually within next 4 months after investment.

Program Features

Processing time of approximately 4-5 months

Applicants must provide birth, and marriage or divorce certificates; certificates of criminal record from the country of origin and residence.

Documents of the country of origin or residence must be apostilled (if the issuing country is a signatory of the Hague Convention) or, if not, they must be legalized by the Ministry of Foreign Affairs of the issuing country and then further attested by Turkish Consulate.

Benefits

There is no need to travel or reside inside Türkiye.

There is also no residency requirement once after obtaining the Turkish Citizenship.

Once Clients would become Turkish Citizens, if they would not reside inside Türkiye for more than 6 months in a year, then they will not be liable to pay any taxes in Türkiye. In any case they would not be subject to pay taxes in Türkiye for their abroad income in principle.

There is no Turkish language knowledge requirement to apply for TCBI.

Changing names and surnames is possible.

Documentation is not complex.

Key facts

Capital City

Ankara

Currency

Turkish lira (TRY)

Time Zone

UTC +3

Languages

Turkish

Population

84,680,273

Area

783,356 km2

Contact

Güvenç Ketenci
Partner

Güvenç Ketenci is a leading, international and influential lawyer in Türkiye. Graduated from Harvard Business School and Marmara University Law Faculty, Mr. Ketenci has a significant investment migration expertise. He advises on Turkish CIP and Global Citizenship and Residency by Investment programs. Mr. Ketenci acts for a wide range of clients including HNWI, corporation, investment funds, and financial institutions. Some of his clients also included Fortune 500. Mr. Ketenci is the President of European Lawyers Events (ELE). He is also a member of Investment Migration Council (IMC), the leading body governing citizenship and residency by investment programs.