Article 12 of the Turkish Citizenship Law No. 5901 allows foreign investors to acquire Turkish citizenship in exceptional terms; with 18.09.2018 dated and 106 numbered Presidential Decree, amendatory, new arrangements have been made regarding the amounts mentioned in the Article 20 of the Regulation on the Implementation of the aforementioned Law. The decision and the amendments made, have been published in the Official Gazette of on the 12 th January 2017 and entered into force.
The main purpose of this memorandum is to provide information on the revisions have been introduced by the Amendment in regard to acquisition of Turkish citizenship the process of acquisiton of Turkish citizenship through purchasing of a real estate.
The Republic of Turkey grants citizenship to foreigners who
- make a fixed capital investment in the amount of minimum USD 500.000 or the equivalent amount as Turkish Lira proven by the Ministry of Economy,
- make immovable property investment on the value of minimum USD 250.000 equivalent foreign currency or equivalent amount of Turkish Lira and attached annotation at land registration not to sell this property for three years and for whom a certificate of conformity is issued by the Ministry of Environment and Urbanization,
- make deposit USD 500.000 in State investment instruments or state banks operating in Turkey provided that they do not withdraw such amount for three years,
- provide employment opportunity for at least 50 employees,
- purchase public borrowing instruments at least 500.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and make commitment to hold these instruments for three years and for whom certificate of conformity is issued by the Ministry of Treasury and Finance,
- purchase a real estate investment fund participation share or venture capital investment fund participation amount of at least 500.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and make commitment to hold these participation shares for three-years and for whom a certificate of conformity is issued by the Capital Market Board,
Application Process and Required Documents
According to Article 3 of the Procedures and Principles Regarding Exceptional Obtention of Turkish Citizenship for Foreign Investors the application authorities are as follow:
- Provincial Directorate of Civil Registration and Citizenship
- General Directorate of Civil Registration and Citizenship Affairs
- Foreign Representative Offices of Republic of Turkey (Embassy, Consulate General and Consulate of Turkish Republic)
The foreign investor can apply one of the aforementioned authorities. The relevant authority will prepare a file regarding the applicant wishing to acquire Turkish citizenship through investment. The following documents are to be included in the application;
- Application form
- Valid passport
- Passport size photo ( 4 )
- Birth certificate
- Residence permit or valid touristic visa on the passport
- If applicable, documents proving the relationships with the spouse/children (certificateof valid status)
- Application tax payment receipt
- Appraisal report
- Bank receipt showing payment of minimum amounts mentioned in the Law.
- Title deed or notarized property purchase commitment
Acquisition of Turkish Citizenship Through Real Estate Investment
Turkey offers significant opportunities for real estate investors by binding its powerful construction industry and its growing industrial and commercial production in addition to its strategic position between Europe, Asia and the Middle East. Since real estate investment is the most preffered way for the acquisition of Turkish citizenship, we consider this topic in particular. As stated above, with the new regulation dated 2018, 18 th of September, the acquisition of Turkish citizenship for foreign investors became possible by purchasing a real estate in Turkey at least with the amount of USD 250.000 or equivalent currency or equivalent Turkish Lira and with the condition of annotating on land registry records for not selling the real estate for three years.
There are main steps for Turkish citizenship by investment;
- Investor has to open a bank account in a Turkish bank in the name of himself/herself
- Transactions for investments have to be completed. (Property title deed has to be given to the applicant )
- Applicant is required to hold a valid residence permit at the time of citizenship application
- When the applicant obtains residence permit, he/she can apply for the citizenship.
Procedure
- An appraisal report shall be obtained regarding the real estate to determine in case the purchase amount of the real estate is at least USD 250.000 (In calculation, the currency shall be based on the effective selling rate of the Central Bank of Turkey
- Following the title deed transactions, documentation of the title deed transactions and the valuation report shall be sent to the Land Registry and Cadastre Foreign Affairs and the “certificate of conformity” shall be obtained.
- A short – term resident permit shall be obtained for the foreign investor. The spouse of the foreigner, foreigner’s and the spouse’s dependant child may also apply for a short-term resident permit
- After obtaining the above-mentioned documents, the application to the Directorate of Population and Citizenship Affairs will be made for acquisition of Turkish citizenship
- Directorate of Population and Citizenship Affairs shall conduct an investigation; in case the result of this investigation is affirmative, the file shall be submitted to the Ministry to be submitted to the President.
- Once the President approves the application for Turksih citizenship, the procedure shall be finalized.
The main applicant is required to come to Turkey only once for the application process. As Birgan&Partners Consultancy and Attorneyship, we are able to handle the process depending of Power of Attorney.
For further information, please contact with us.