Conditions of Turkish Citizenship by Investment
Some of the changes made in September 2018 remain unchanged in the May 2022 changes. However, in any case, the figures and information below are the most up-to-date as of June 2022. Accordingly, to acquire Turkish Citizenship through investment, one of the following must be fulfilled:
Purchasing an immovable with an amount of 400 thousand US Dollars or more and making an annotation that this immovable will not be sold for three years from the title deed registry. In exchange for 400 thousand US dollars, other foreign currency or TL will be valid. Four hundred thousand USD is the minimum amount. (In the previous Regulation, this amount was 250 thousand
USD, but now it has been increased to 400 thousand dollars. The Regulation was accepted on 13 May 2022 and is effective as of 13 June 2022.)
A capital investment of $500,000 or more. It doesn’t necessarily have to be dollars. Foreign currency or TL is considered valid against 500 thousand dollars. Five hundred thousand dollars is the minimum amount. (In the previous arrangement, this amount was 2 million USD)
Making a preliminary contract for the sale of real estate for a building with at least 400 thousand dollars of condominium ownership or construction servitude will also give the foreigner the same opportunity. Here, too, it is added to the promise of sale contract made at the notary that the transfer of the structure or the contract cannot be made for 3 years. (In the previous arrangement, this amount was 250 thousand USD)
The person who creates employment for at least 50 people in Turkey acquires Citizenship through investment. (In the previous edit, this number was 100, not 50)
The person who deposits 500 thousand USD or its equivalent in foreign currency or TL in Turkish banks, provided that he does not withdraw it for at least 3 years, has the same opportunity. (In the previous arrangement, this amount was 3 million USD)
The person who buys the government debt instruments for at least 500 thousand US Dollars or more, on the condition of keeping them for at least 3 years, also acquires Turkish Citizenship through investment. Here, too, the amount of foreign currency or TL equivalent to 500 thousand USD is considered valid. (In the previous arrangement, this amount was 3 million USD) A person who buys “real estate investment fund participation shares” or “venture capital investment fund participation shares” of at least 500 thousand USD or equivalent in foreign currency or TL and undertakes to keep them for at least 3 years also acquires the right of Citizenship in this context. (In the previous arrangement, this amount was 1.5 million USD)
To invest at least 500 thousand USD or equivalent in foreign currency in the private pension system, provided that it is kept in the funds determined by the Insurance and Private Pensions Regulation and Supervision Agency and remains in the system for at least three years. (This did not exist in the previous Regulation. This situation was introduced with the May 2022 amendment.)
The person who has fulfilled one of the conditions we have mentioned will apply for Turkish Citizenship by investment. In his application, he must submit the necessary documents, which we will list below, to the competent authorities.
Of course, despite all these, meeting these conditions does not give an absolute right to Citizenship. Ultimately, this is a matter of the State’s sovereign right, and the State may not accept the citizenship application if it deems it objectionable. For this reason, it is beneficial to follow the process in question with an experienced foreign lawyer.Apart from these special conditions, it is also necessary to meet some general conditions. It is necessary not to pose a problem in terms of the national security of the State of Turkey and not to have characteristics that will adversely affect
the general health and morals of the society. The special situations we have mentioned above show that the person has a certain level of financial means and that he has the aim of continuing his
relationship with Turkey. Required Documents and Procedure for Turkish Citizenship by Investment There are also some documents required to become a Turkish citizen by investment. Accordingly, the following documents must be completed before the application:
Application form containing the relevant application path, Identity document obtained from the country of Citizenship of which country, If the foreigner is married, the spouse’s identity document, if they have children under the age of 18, their identity document, Documents proving family ties with family members (marriage certificate, etc.), Passport photos of other family members,
birth certificate, If the applicant is divorced, the official document proving that he is divorced, If widowed, proof of being widowed (death certificate, etc.) Residence permit or tourist visa issued to the foreigner, If the spouse or other relatives of the foreigner applying are Turkish citizens, their ID photocopies and residence information,
Documents, receipts, etc., regarding the payment made before the application. Apart from/before these documents, there are also documents required for foreign persons to purchase real estate.
We can list them as follows:
Passport and photocopy of the foreign person who will buy the immovable, together with its Turkish translation,
Real estate value certificate obtained from an authorized real estate appraisal company,
If the immovable is a residence or workplace, a compulsory earthquake insurance policy,
One biometric photo of the person selling the real estate, 2 biometric photos of the foreign person,
If the foreigner does not speak Turkish, a sworn translator must be available.
Suppose the sale of real estate is made by a proxy, the original of a power of attorney. If a power of attorney is not issued in Turkey, it’s Turkish translated by a sworn translator.
After the purchase of the real estate, a short-term residence permit is required, as we will discuss in detail below. The documents required for a short-term residence permit application are as follows:
Application form containing residence permit,
The original passport and a photocopy of the relevant pages, with a duration
exceeding the requested residence permit period of 60 days,
At least 4 biometric photographs taken within the last 6 months,
A valid health insurance policy to cover the requested residence period,
Receipt of payment of application fee and necessary valuable papers,
The title deed registration document of the purchased real estate.
Does Acquiring Turkish Citizenship by Investment Cover the Spouse and
According to both the Turkish Citizenship Law and the provisions of the
Regulation on the implementation of the law, the citizenship statuses acquired
afterward do not spread to the spouse. However, Citizenship acquired through
investment is an exception.
Accordingly, thanks to the investments, the scope of which is determined by the
President due to the short-term residence permit in article 12 of the Turkish
Citizenship Law, the spouse of the person who acquires Citizenship and his or
her immature child also acquire Citizenship.
In other words, the right of Citizenship acquired by the foreign person through
investment, as an exception, extends to the spouse and minor self-stepchild. One
of the beneficial aspects of gaining Turkish Citizenship by investment is the
ability to spread to this spouse.