Turkey is known as the bridge between East and West, and is an increasingly popular destination for those looking to move abroad. In recent years, it has become even more attractive due to its citizenship-by-investment program. Becoming a Turkish citizen gives you access to visa-free travel in over 120 countries, and many other benefits. This guide will provide a comprehensive overview of the process and requirements for applying for Turkish citizenship by investment.
In order to apply for Turkish citizenship by investment, there are several requirements that must be met. First, applicants must be over 18 years of age and have no criminal record in Turkey or any other country. They must also have sufficient financial resources to support themselves and their family without relying on public services or aid.
The most common way to qualify for Turkish citizenship is by making a qualifying real estate investment of at least 250 thousand USD (or equivalent in another currency). This can be done through the purchase of one or more properties with a combined value of at least 250 thousand USD (or equivalent). Alternatively, applicants may choose to invest at least 500 thousand USD (or equivalent) into government bonds or deposit funds in a Turkish bank account for at least three years. Another option is to create jobs in Turkey; applicants who are able to create at least 50 jobs within 3 years may also qualify for Turkish citizenship through this route.
Once an applicant has established that they meet the requirements and invested in one of the qualifying investments listed above, they must complete the application process. The first step is obtaining a Residence Permit from the office of migration management which will allow them to stay in Turkey during the application process. Once this permit is obtained, applicants can then submit their application forms along with supporting documents such as proof of identity, proof of address and bank statements proving their financial resources. Once all the documents are submitted, it typically takes around 8 months before processing begins on the application itself. During this period, applicants should remain up-to-date on changes in their personal circumstances so they can provide updated information if needed. After processing has begun on the application itself, it should take another 6 months before approval is granted or denied. If approved, applicants will receive their new passport within 2 weeks after approval has been received from authorities.
Conclusion: Applying for Turkish citizenship by investment can be a long and complicated process but it’s worth it if you want access to visa-free travel in over 120 countries plus many other benefits that come with being a citizen of Turkey! While there are several requirements that must be met before submitting an application including having sufficient financial resources and investing either 250 thousand USD (or equivalent) into real estate or 500 thousand USD (or equivalent) into government bonds or deposit funds into a Turkish bank account – once these steps have been completed it usually takes 8 months before processing starts followed by another 6 months waiting time until approval is granted or denied. If approved, you’ll receive your new passport shortly after! Good luck!