Launched in 2018, the Turkey Citizenship by Investment (CBI) program has spent the last few years thriving. This is partly due to Europe’s success with its well-established Residency by Investment (RBI) programs – including popular ones offered by Spain, Portugal, and Greece.
Turkey’s CBI program has carved out its success in the immigration industry by setting itself apart from its counterparts by offering access to both the European and Asian markets, as well as providing the opportunity to obtain well-desired visas to the United Kingdom (UK) and the United States of America (USA).
With this in mind, it’s not difficult to see why high-net-worth individuals are opting to apply for the Turkey CBI program. Under this program, investors can choose to complete one of the various investment options available in exchange for full Turkish citizenship and passport.
In this article, we take a look at the investment options available to applicants, as well as the benefits that accompany Turkish citizenship.
How Can You Invest In Turkish Citizenship?
Individuals seeking to obtain Turkish citizenship can choose one of three options as their qualifying investment:
1. Real Estate Investment
Most applicants to the Turkey CBI program choose to purchase real estate as their qualifying investment.
Applicants must invest at least USD 250,000 in real estate. This can be a single property or multiple properties whose total amounts to the minimum investment figure. However, if the applicant chooses to invest in numerous properties, all holdings must be located in the same neighbourhood.
The property must be registered on the same day as the purchase date and retained for a holding period of 3 years – during which investors can benefit from rental income and may resell after.
Turkey has a stable real estate market with steady growth in recent years, making it a safe investment and profitable asset to hold – particularly in popular areas like Istanbul.
Also, investors have their pick of property type to invest in – whether it is a villa, apartment or land – the Turkish citizenship program doesn’t have a fixed requirement. There is also no need to take a pre-approval to buy property as the estates are not overvalued.
2. Job Creation
With this option, the investors need to set up a business and create jobs for at least 50 Turkish citizens and residents. The registered company must be confirmed by the Ministry of Labour and Social Security.
3. Capital Investment
If the investment options mentioned above aren’t for you, in that case, you still have the choice of a capital investment, which can be made in a variety of ways.
The capital investment is at least USD 500,000 to qualify for a Turkish passport. The capital investment is placed in one of the following:
- Fixed-asset investment confirmed by the Ministry of Industry and Technology.
- Deposited in a Turkish bank and retained for a minimum of 3 years.
- Government bonds with the prospective to receive interest as income. The investment must be kept for at least 3 years.
Please note: The qualifying investment is not the only cost charged to investors when applying to the CBI program. In addition to the investment, there are government processing fees, professional fees and other costs associated with all options. When using Savory & Partners as your trusted agent, you will be supplied with a fully itemised quotation with no hidden costs.
Benefits Of Holding A Turkish Passport
- Unrestricted travel: As a citizen of Turkey, investors gain visa-free or visa-on-arrival travel to over 110 countries and territories worldwide, including Singapore, Hong Kong and Brazil.
- Obtain other coveted visas: Turkish citizens can apply for the Turkish Businessperson Visa for the United Kingdom and the E-2 investor visa for the United States of America.
- Future EU benefits: Turkey will soon enter a visa-free deal with the European Union (EU), making the country’s passport much stronger. It can then afford unrestricted access to EU-member states like France, Germany and Italy.
- Access to better opportunities: Turkish citizens have access to world-class healthcare, quality education, profitable business and investment opportunities.
- Retirement option: Turkey is a country filled with rich history and culture. An ideal retirement location for those who are looking for a high quality of life.
- Ultimate insurance: Investing in Turkish citizenship as a second passport is a great Plan B to put your mind at ease in times of economic or political instability in your home country.
- Favourable tax policies: Turkey has no tax on worldwide income, capital gains, gifts, wealth and inheritance.
- Minimal residency requirements: Residing in the country is not required, and applicants do not have to visit the country before or after the application process.
- Dual citizenship permitted: When you’re obtaining citizenship in Turkey, you don’t have to renounce your current citizenship(s).
- Simple application process: The government of Turkey does not require applicants to pass an interview or language test. Additionally, no work or education experience is required to be eligible for this program.
- Lifetime citizenship: Investors and their family will enjoy Turkish citizenship for life and can pass it down to future generations.
Book A Free Consultation
Many people have a false notion that obtaining and investing in Turkish citizenship is a difficult and time-consuming process – but it doesn’t have to be when applying for the Turkey CBI program.
Always remember, when applying for any Citizenship by Investment program, be sure to render the services of an accredited and recognised advisor, like Savory & Partners.
When choosing us as your partner on this journey, you can be assured that you are in safe and capable hands. Savory & Partners is a long-standing and well-respected authorised agent that specialises in helping high-net-worth individuals secure citizenship through investment for themselves and their dependents.
The Savory & Partners team is made up of a diverse group of industry experts who span over 15 nationalities, speak over 25 languages collectively, and come with decades of accumulated CBI and RBI industry experience. Our level of expertise and competence, combined with our commitment to serving our clients with the highest level of professionalism and transparency, has led us to aid over 1,100 families obtain a second passport with a 100% success rate. There is no one better positioned and more trustworthy than Savory & Partners when seeking the best results on your quest to secure a better future for yourself and your family.
If you would like to apply for the Turkey Citizenship by Investment Program or would like to learn more, get in contact with us today for a free online consultation and one of our skilled agents will happily aid you in your enquiry.
We are available on every channel convenient for you.