TURKEY

TURKEY

$250,000

Overview

The Turkey Citizenship-by-Investment Program was launched in January 2017 to attract foreign direct investment and to boost growth in the country’s real estate sector. This program allows foreign investors to acquire citizenship under certain conditions. Applicants obtain an irrevocable citizenship and passport without having to reside in the country or renounce their current nationality.

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Description

Country Info

Located in the heart of the Middle east and Europe, Turkey is separated by Anatolia by Black sea, Bosphorus, Marmara, Dardanelles and
Aegean Sea. Turkey is one of the largest emerging markets in the world. The country’s geographical location and overall global economic power makes Turkey an attractive place for investors worldwide.

It is the 17th largest economy in the world with a nominal GDP of USD 849.48 billion, which is set to be part of the Trillion-dollar Club in 2020. Only 16 countries are in this club. Turkey’s cost of living makes the country one of the best locations for retirement.

Costs

To be eligible for citizenship of Turkey under its Citizenship by Investment Programme, applicant is required to make a property investment in Turkey’s real estate market.

1. REAL ESTATE INVESTMENT IN TURKEY

Real Estate Investment in freehold property with title deed or land. The investment must be completed before applying for the citizenship

Minimum Investment (must hold for at least 3 years
USD 250,000
GOVERNMENT FEES

In addition to the purchase of real estate, there are Government fees to be paid.

Adult Applicant
USD 2,000
Minor Applicant
USD 1,000

Citizenship Invest professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A detailed quotation with no hidden costs is provided for the specific case.

Required Documents

Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke service that simplifies the application process, requesting from clients the bear minimum. Our job is to simplify the document collection as much as possible and when required we obtain the documents for the client without their involvement. Please note the below list is to be used as a guideline only, after assessing the particular case Citizenship Invest prepares a personalized checklist.

Documents required from each applicant including children:

• Certified copy of all passports held
• Original excerpt of full birth record or certified copy of full birth certificate with MOFA attestation (i.e. a birth document that also includes your parent’s details, or a household register, family book etc.).
• Original Police Record from country of birth, country of citizenship, country of residence (if different), and any country in which the applicant has resided for more than six (6) months in the past ten (10) years, for each applicant sixteen (16) years and over.
• Certified copy of all identity documents/books or cards
• Twenty (20) Original passport-size photos
• Proof of residential address (certified copy of lease agreement or original utility bill)
• Health Insurance in Turkey

Forms and documents required only from the main applicant:
• Sales and Purchase Agreement
• Power of Attorney

Documents required only if married persons apply together:
• Original excerpt of marriage record or certified copy of marriage certificates with MOFA Attestation, legally translated in Turkish and legalized by Turkish Consulate
• Certified copy of divorce documents with MOFA attestation, legally translated in Turkish and legalized by Turkish Consulate (if applicable)

Timeline

MONTH 1

Client signs CI Retainer Agreement and pays the retainer invoice

Document collection with CI’s guidance

CI helps client select the property which must have certain specifications and permits

MONTH 2

Once Title Deed of property is obtained CI submits applications for Residency permit and Citizenship simultaneously

Interview with the client present in Turkey might be required by the Government

MONTH 5

Citizenship Certificates and passports are issued. The balance of CI professional fee is paid.

 

The estimated time to receive citizenship approval depends on the due diligence processing time and the specific case.

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