Buy a real estate worth $ 400,000
* with a deed restriction not to sell for 3 years
Deposit $ 500,000 cash in Turkish banks
* with a condition not to withdraw for 3 years
Buy government bonds worth $ 500,000
* with a condition not to sell for 3 years
Buy shares worth $ 500,000 in Turkish REITs or VCTs
* with a condition not to sell for 3 years
Make $ 500,000 fixed-asset investment
Hire 50 Employees
OPEN A BANK ACCOUNT
An account in a Turkish bank should be opened in the name of the investor.
MAKE YOUR INVESTMENT
Execute the necessary investment transactions (i.e. real estate title deed transfer, cash deposit, government bond/share purchase etc.)
APPLY FOR RESIDENCE PERMIT
Applicants are required to hold a valid residence permit at the time of citizenship application. Nevertheless, permit holders can continue to live abroad as long as they wish.
APPLY FOR CITIZENSHIP
You can immediately apply for citizenship once your residence permit is granted. No physical presence or interview is required during the application process.
BECOME CITIZEN WITH YOUR FAMILY
Your spouse and children under 18 years old can acquire citizenship together with you at the same time.
NO WEALTH DECLARATION
When you apply for citizenship, you are not required to declare your assets or income that you currently have in other countries.
NO NEEDTO BE A PERMANENT RESIDENT
You do not have to have lived continuously in Turkey for a certain period to become eligible for citizenship. You can continue to live abroad and apply for citizenship as soon as you get the residence permit.
REPATRIATE YOUR INVESTMENT
After holding your investment for 3 years, you can cash out your investment and repatriate the funds along with its proceeds (i.e. rental income, interest etc.) free of exchange control restrictions.
Currently, Turkish citizens can travel to 102 countries without the need to follow a cumbersome visa application process. Vast majority of these countries allow Turkish citizens to stay 30 to 90 days without any visa requirement while some countries grant visas upon arrival or issue electronic visas upon online application.
The Visa Liberalization Dialogue. the aim of which is to grant Turkish citizens visa-free travel right to Schengen countries. between Turkey and the EU was launched in 2013. Once achieved. further 26 European countries will be added to the list of 102 countries Turkish citizens can already travel freely.
NOTABLE VISA-FREE COUNTRIES
BOSNIA AND HERZEGOVINA
Will my citizenship automatically be granted when I fulfill the conditions and lodge my application ?
No, the citizenship approval is contingent upon verification from archive records of national security units that the applicant poses no threat to national security.
Which of my family members can get Turkish citizenship ?
Your spouse, your children under 18 years old, and your children who are over 18 years old but dependent on you due to their medical condition can acquire citizenship along with you.
Is there any requirement to be fulfilled by my family members ?
Each of your family members wishing to acquire Turkish citizenship is required to hold a valid residence permit at the time of citizenship application.
Do I have to wait for 3 years to become a Turkish citizen ?
No, you can apply for citizenship as soon as you get the residence permit and become a citizen before the completion of the compulsory 3-year investment holding period.
Do I have to renounce my current citizenship when I become a Turkish citizen ?
No, Turkish laws allow dual or multiple citizenship.
What types of real estate can I buy ?
You can buy residential and office units, buildings and land, subject to certain restrictions. (e.g. the real estate must not be located in a military forbidden zone)
Can I buy more than one piece of real property, the total value of which exceeds $ 400,000, instead of buying one ?
You can buy multiple real property worth $ 400,000 in total, provided that the title deed transfer process of each property is initiated on the same date under one request.
What taxes do I pay when I buy a real estate ?
There are two important taxes arising from a property sale. (I) Transfer tax, and (II) Value Added Tax (VAT).
The transfer tax rate is 4% of the sale price. However, the government frequently reduces the rate for temporary periods to promote the market. Currently, the rate has been reduced to 3% until the end of October 2018.
In principal, the seller and the buyer shares the transfer tax burden equally. In practice, however, the buyer usually pays the entire tax amount.
VAT is paid by the buyer and is applicable if the seller is a business entity. However, foreign investors are exempt from paying VAT if the following conditions are met together:
The VAT rate is 18% for all sales that are not in scope of the above exemption, (e.g. land sales, second-hand property sales)
VAT is not applicable if the seller is a real person.
Turkey can grant Citizenship to foreigners, through the ‘Citizenship by Investment’ programme. Investors are able to obtain Turkish Citizenship, when they invest here and meet with the desired conditions. So, what are the benefits of obtaining Turkish Citizenship?
Benefits of Obtaining Turkish Citizenship
Turkey is a modern country that boasts cultural riches, historic treasures and breathtaking scenery. Millions of tourists and visitors come to Turkey every year. It is located between Asia and Europe, so Turkey is the host of many different cultures. Obtaining Turkish Citizenship allows you the freedom to benefit from all that this wonderful country offers. Other advantages include:
• Health Service
When you become a Turkish Citizen, you can benefit from the countries healthcare system free of charge. The healthcare system in Turkey is of high quality and is free for the citizens of the country.
• Turkish Passport
The Turkish Passport is one of the strongest Passports in the world. On receiving your Citizenship, you can travel to more than 110 countries without needing a Visa.
Education is free in Turkey. There are different State Universities that are widely admired due to their high standards of education. Your children are allowed to study at these Universities for free. It is widely known that students from many countries have to pay large fees for University education in their own countries. However, quality education in Turkey is completely free, proving that Turkish Citizenship is also advantageous in terms of education.
• Business relationships
Turkey has strong commercial relations with numerous countries, within many sectors. When you become a Turkish Citizen, you are also able benefit from these ties, which may change your business relations in a positive way.
• World Citizenship
If you have a goal of becoming a World Citizen, you can get one step closer by obtaining Turkish Citizenship.
• Unlimited Sessions
When your Citizenship is received, you have the right to unlimited Residency in Turkey. You can settle in one of the most beautiful parts of the world.
When you become a Turkish Citizen, you can retire when you meet with the necessary conditions according to Social Security Law. Thereafter, you are entitled to receive a Turkish pension.
These benefits also apply to your spouse and children.
There are different ways to obtain Turkish Citizenship through investment. Among these, agricultural land investment is the most attractive, with the advantages it provides. An agricultural land investment, over a certain financial amount, can permit you to apply for Turkish Citizenship.
The land you purchase, within the scope of agricultural land investment, will appreciate over time. In addition, you will generate a generous income through the sale of the products that are cultivated. Agrolidya professional agricutural management services, will help you purchase your land, cultivate your produce and sell that produce with a sale guarantee. Agricultural land continues to produce a high yield income for the investors, without them having to actively farm their land.
You can contact us for detailed information on the subject, or to start the process of purchasing your own personal agricultural land in Turkey.