New Legislative Regulation  

Turkish Citizenship by Investment Program was first introduced on 12.01.2017 and amended significantly on 18.09.2018. Within the scope of this regulation, Turkey now grants citizenship to foreigners who buy real estate in Turkey worth at least $250.000 under the condition that the property is not sold for at least 3 years. By purchasing a property of valued minimum $250.000 USD in any part of Turkey or making $500.000 capital investment, a foreign investor will be able to get Turkish Citizenship for him/herself and the family within 3 months.

​With the amendment made to the Regulations Regarding the Implementation of Turkish Citizenship Law, Foreigners who meet any of the following criteria may be eligible for Turkish citizenship, subject to the decision of the President of the Republic of Turkey:

​​​1-) Real Estate Investment : $250.000 

• Acquiring a property worth minimum of 250,000 USD (previously 1 million USD) or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years starting from 18.09.2018 (attested by the Ministry of Environment and Urbanization)

​New Regulation Change dated Jan 2022: Payment obligations of real estate purchased in Turkey by persons who do not have citizenship ties with the Republic of Turkey can only be fulfilled in foreign currency.

​New Regulation Change dated Jan 2022: In the acquisition of real estate by foreign real persons, before the acquisition, the sale price must be sold to a bank by the buyer, seller, their proxies or representatives in USD or equivalent foreign currency to be sold to the Central Bank. The “Foreign Exhange Certificate” to be issued by the Bank will be submitted to the Land Registry Directorate before the sale process and the Turkish lira amount registered in the foreign exchange certificate is to be declared as the sales price.

​For the real estate(s) purchased between the dates 12.01.2017 and 18.09.2018, the real estate must be worth at least $1.000.000 and above.

​It is not possible to apply for citizenship with real estate(s) purchased before the date 12.01.2017 and the real estate(s) covered by an agreement for the promise of sale before the date 07.12.2018.

​USD value of the property is calculated based on the effective exchange rate of Turkish Central Bank at the date of transaction. Real estate valuation report, bank receipts and title deed value must be more than the minimum investment amount each separately.

​All money transfers related to the real estate must be sent between buyer/seller’s banks. 

​Joint owned property/multiple property application is possible. There is no restriction on the type of immovables to be acquired (residence, office, land, field,etc) Properties subject to sale/promise to sell contracts for citizenship application can only be purchased from Turkish citizen/companies.

​The property subject to sale or promise to sell agreement shouldn’t be among the properties which were transferred to a Turkish citizen/company after 12.01.2017 by the foreign investor, his/her spouse and children or another foreign person of the same nationality. However, if the property registered in the name of a foreign real person is transferred to a Turkish citizen/company after 12.01.2017, a foreign investor of a different nationality can acquire citizenship with the property in question.

​The property subject to sale or promise to sell agreement must not be registered in the name of a company in which the foreign investor or his/her spouse or his/her children is a shareholder or manager. The said property also must not be registered in the name of a foreign capital company where there is a foreign person shareholder(s) of the same nationality with the foreign investor.

​The same property cannot be subject to citizenship acquisition again after being used once.

​In the event that the foreign investor who has acquired Turkish citizenship by acquiring property transfers (or sells) the relevant real estate back to the same Turkish citizen/company after the expiration of the investment holding period (excluding compulsory transfers made by court decisions or compulsory execution), or abandons the promise to sell contract to transfer the property to a third person, the General Directorate is notified and the status of the eligibility certificate that forms the basis of citizenship acquisition is reevaluated.

​​2-) Deposit Account in Turkish Bank : Turkish Lira Equivalent to $500.000 

• Depositing at least 500,000 USD equivalent Turkish lira in any bank(s) operating in Turkey with the condition not to withdraw the same for at least three years (attested by the Banking Regulation and Supervision Agency)

​New Regulation Change dated Jan 2022: Bank deposit for citizenship can only be kept in Turkish Lira. The investor shall first deposit 500.000 USD in a bank  to be sold to the Central Bank at the transaction rate. Turkish lira amounts obtained as a result of this foreign exchange sale are kept in Turkish lira deposits for a period of three years.

​USD equivalent of the currency on the date of determination by the Banking Regulation and Supervision Agency will be taken as basis by the banks and will be expected to remain at the same amount.

​Investor can benefit from all kind of returns (interest, dividend and similer returns) as long as the amount doesn’t fall below the initial deposit amount.

​Shifting from deposit investment to other capital investment options within the investment holding period is possible

​3-) Fixed Capital Investment : $500.000

• Making a minimum fixed capital investment (land, building, machinery and equipment for the production of goods and services, company shares) of 500,000 USD or equivalent foreign currency or Turkish lira (as attested by the Ministry of Industry and Technology)

​4-) Government debt instruments : $500.000

• Buying at least 500,000 USD equivalent Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years. (attested by the Ministry of Treasury and Finance)

​New Regulation Change dated Jan 2022: Only Government Bonds issued in Turkish Lira can be bought for citizenship program. Eurobonds issued by Turkish Treasury are no longer included in the citizenship program.

​Includes: Government debt securities, Bonds issued by Turkish Treasury  lease certificates issued by Turkish Treasury and Sukuks.

​​Investors can freely benefit from the interest / rental income (coupons) of above mentioned debt instruments blocked in their investment account.

​The minimum investment requirement of USD 500,000 or equivalent foreign currency or Turkish Lira envisaged for government debt instruments is calculated using the effective selling rate (If the investment is blocked gradually, the exchange rate valid for each blocking date.) valid for the date when the government debt instruments are blocked in the investor account.

​If the net value of the Government debt instrument decreases below USD 500,000 as a result of the change in the cross exchange rate or the TL / USD rate (comparing the rate when it was blocked), it will not affect the citizenship application and / or acquisition.In addition, in the event of a decrease in the value of Government debt instruments blocked due to changes in market conditions, the minimum investment requirement is not considered to be lost.

​We assist our clients on opening an investment account at a bank in Turkey and finding the most suitable Government Bonds issued by Turkish Treasury as we follow them weekly basis.

​5-) Real estate investment fund / venture capital investment fund : $500.000

• Buying at least  500,000 USD or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years (attested by the Capital Markets Board of Turkey)

6-) Employment : 50 People

• Creating jobs for at least 50 Turkish employees (attested by the Ministry of Family, Labor and Social Services)
• Continuity of the employees working full time in the last 6 months will be taken into consideration

​​-The applicant can keep the investment and its regular income & acquire citizenship at the same time.

-Some of the benefits are visa free travel to more than 100 countries, full health coverage for the whole family, pension program, free education at public schools and universities, allowing multiple citizenship, etc.

-No requirements to reside in Turkey during or after the application process.

-No need to donate any specific funds to the government

-No exam or complex procedures. 

-Open to almost all nationalities in the world. 

-Strong passport with visa free access to more than 100 countries

-Fast processing time

-Multiple citizenship is allowed

​-Citizenship&Passports: 4 Months

–Scope: Principal Applicant + Spouse + children under the age of 18

–Investment holding period: 3 years

​APPLICATION PROCESS&LEGAL SERVICES

​​Citizenship applications requires careful and professional attention by specialized immigration lawyer who knows ins and outs of this process and who can represent clients vis-a-vis government authorities. 

With a deep expertise and experience on all of the above mentioned investment options of Turkish Citizenship Program from the very beginning, we conduct and follow up all the steps and procedures very diligently for our clients from different countries. 

We actively take part in the following phases to manage the process under the best possible legal framework from A to Z and in full compliance with the related official regulations. We assure confidence&transparency, simplify complexities and ensure a successful outcome for our clients.

​Getting the foreigner tax number & Opening a bank account in Turkey

​Investment Process&Obtaining the ‘Certificate of Conformity/Eligibility’ from the related ministry/government agency.

​ Real Estate Investment Services:​​

Finding the most suitable and secure residential or commercial property that fits client’s preferences and investment plan.

Arranging/reviewing the appraisal report of the real estate

Completing Tax (VAT) exemption procedures through tax office

Handling the contracts, transactions, title deed transfer process, tax planning.

Investment Process&Obtaining the ‘Certificate of Conformity’ from the Land Office

Ensuring that the property is transfer-ready, suitable for the citizenship application and free of any debts, taxes, legal problems, encumbrances.

​​Collection and preparation of the documents in required legal forms (Apostille, attestation, consular formalities, embassy legalization, notarization, certified translation etc.)

​Application for Investor Residence Permit

​Submission and follow up of the Turkish Citizenship Application 

​Receiving the citizenship approval certificates from the Civil Registration and Citizenship Directorate

​Passport and ID appointments, arrangements (Civil registry offices in Turkey or Turkish Embassies/Consulates)

​Professional relationship with the authorities

​%100 Success Rate (80+ application files / 350+ passports)

​Full confidentiality of client information (Attorney-Client privilege)