What Advantages Does Turkish Citizenship Offer?

Over the past few years, the Turkish government has introduced various reforms to entice foreign investors to invest in the country. From 2017 Turkey announced the Citizenship by Investment which was named as (CBI) program and from 2018 the government notified the Immigration Law to provide foreign nationals who make significant changes in the economy of the country with the opportunity to obtain Turkish citizenship.

Benefits of Turkish citizenship include:

1. Visa-free travel to 70 countries and visa on arrival to 51 countries.

2. The Turkish government allows dual citizenship.

3. Eligibility for an E-2 investor visa, enabling relocation and business opening in the United States.

4. The right to live and work legally in Turkey.

5. No requirement to declare income and assets in other countries.

6. Passport issuance for all family members.

7. Citizenship transfers to the next generations.

Second passport through investments

Turkey announced its citizenship-by-investment program in 2016. Initially, the investment amount in real estate to obtain Turkish citizenship was set at $1 million, but in 2018, it was reduced. In 2021, the purchase of real estate must be more than USD 250,000 with the condition that it will not be sold within 3 years.

Due to the upcoming of immigration to Turkey in 2022 this amount was noticed and increased to USD 400,000. The decision was announced by the Cabinet of Ministers of Turkey on June 12.

To obtain Turkish citizenship you can buy one or several real estate apartments and it is important that in the Cadastr valuation report it has to be shown the specific amount.

The Ministry of Environment and Urbanization issues a compliance certificate. There are no restrictions on the type of real estate. It can be:

• An apartment in one of the multi-storey complexes,

• A luxurious villa on the coast of the Mediterranean Sea,

• Commercial real estate – an office, shop, restaurant, hotel, spa center, warehouse, etc.

After three years have passed since the purchase of a property in Turkey, it can be sold, and before that time, it can be rented out to generate rental income. Failure to adhere to this timeline can result in the revocation of citizenship.

Obtaining Turkish citizenship through investment and holding a Turkish passport for a foreigner and their family can take around 3-4 months with all related to having all necessary documentation in order.

Turkish passport holders enjoy visa-free access to 70 countries and visa-on-arrival privileges in 51 countries worldwide through bilateral agreements with Turkey. These countries include Hong Kong, Japan, Mexico, Singapore, South Korea, many African nations, and most of Latin America.

It is important to note that individuals who have applied for Turkish citizenship are not required to change their citizenship of their home country in favor of the Republic, according to Turkish legislation that allows for dual citizenship. This means that foreign citizens with their families can obtain a Turkish passport while having their original citizenship.