Acquisition of Turkish Citizenship by Investment

There are some conditions for the acquisition of Turkish citizenship by investment. These conditions are divided into investments and applications. The conditions of both titles are simply outlined below.

According to the Immigration Law of Turkey, a foreigner who makes any of (at least one of) the following investments can acquire Turkish Citizenship by the decision of the President of Turkey:

1. Foreigner who has made a fixed capital investment (such as buying company stock or establish a company etc.) of at least 500.000,00 USD or equivalent foreign currency. (This investment must determined by the Ministry of Industry and Technology of Turkey.)
2. Foreigner who buys any kind of real estate worth at least 250.000,00 USD or equivalent in foreign currency. An annotation that the real estate cannot be sold for three years must be placed in the title deed records. (This annotation must determined by the Environment and Urban Ministry of Turkey.) – Many foreigners choice this condition because this is the cheapest and easiest way for the acquisition of the citizenship.
3. Foreigner who has deposited at least 500.000,00 USD or equivalent foreign currency deposits in banks which operating in Turkey, on the condition of keeping them for three years and must determined by the Banking Regulation and Supervision Agency of Turkey.

In the calculation of these monetary limits, the effective selling rate or the cross exchange rate of the Central Bank of the Republic of Turkey is taken as basis on the calculation date.

Before buying real estate, foreigner must get a report from “a real estate appraiser” which licenced by the Capital Markets Board of Turkey that shows the value of the real estate. Foreigner must buy the real estate with this report.

The foreigner must obtain “A Short-Term Residence Permit” on behalf of hisself/herself, his/her wife/husband and his underage children, which means under 18 years old children according the Turkish Law, from the Immigration Department of Turkey after the investment. A Shirt – Term Residence Permit may given up to five years.

The abovehere is a brief summary of foreigners to acquire Turkish Citizenship, there is a lot of paperwork for the abovehere process to work. Some are the paperworks are mentioned below hereunder without any explanation. ALL THE PROCESS INCLUDING INVESTMENT AND APPLICATIONS MAY BE DONE BY OURSELF AS A LAWYER OFFICE WITH LETTER OF ATTORNEY WHICH HAS SPECIAL PERMISSIONS ABOUT THE PROCESSES. Therefore foreigner do not need to come to Turkey.

Here are some paperworks: After the investment, foreigner must obtain “A Short-Term Residence Permit” from the  Immigration Department of Turkey. The apply must be with the file which contains petition, passport, documents from Environment and Urban Ministry of Turkey that  shows the purchase and value of the real estate and the annotation. The passport validity must be more than 60 days from five years.

After obtained “A Short-Term Residence Permit” foreigner must apply for acquiring Turkish Citizenship: The foreigner must apply to Ministry of Interior with a file which contains filled form, petition, passport, marriage certificate, divorce certificate, the document which contains ID information about hisself/herself and his/her family members, application fee, A Shirt- Term Residence Permit etc.

Afterall, The Presedent of Turkey may decide the acquisitiing of Turkish Citizenship.