400.000 USD - property investment
Raising the value of the property candidate for Turkish citizenship to $400,000
During the meeting of the “Presidential Cabinet”, it was agreed to raise the value of the real estate candidate for Turkish citizenship from $250,000 to $400,000.
Accordingly, it is expected that amendments will be made to item b of the second paragraph of Article 20 in the executive regulations related to the application of the Turkish Nationality Law.
It is expected that this amendment will be published in the Official Gazette within the next few days, so that the conditions of granting Turkish citizenship in return for a real estate investment are: owning a property whose value is not less than 400 thousand dollars or its equivalent in currencies, and on the condition that the property is not sold for a period of 3 years.
The stages that the real estate ownership law has gone through in exchange for Turkish citizenship
The decision to own property leading to Turkishi citizenship has passed through several stages from the date of its first issuance to today:
The first decision in 2017, allows obtaining Turkish citizeship in exchange for purchasing a property worth "$1 million, or its equivalent" in local currency or hard currencies.
The amendment to the decision in 2018, was reduced to “$250,000 or its equivalent” provided that the property is not sold or transferred to another party for a period of three years.
The last amendment is raised to "$400,000 or its equivalent".
The new law entered into force on June 13.
Until this date, the old system will be implemented by approving the value of $250,000 for the property eligible for citizenship.
Number of Decisions: 5554
It has been decided to put into effect the attached “Regulation on Amending the Regulation on the Implementation of the Turkish Citizenship Law” in accordance with Article 46 of the Turkish Citizenship Law No. 5901.
12 May 2022
REGULATION ON AMENDING THE REGULATION ON IMPLEMENTATION OF TURKISH CITIZENSHIP LAW
ARTICLE 1– The phrases “250.000” in subparagraph (b) of the second paragraph of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, which was put into effect with the Council of Ministers Decision dated 11/2/2010 and numbered 2010/139, have been changed to “400,000”.
ARTICLE 2– The following clause (O clause has been added to the second clause of Article 20 of the same Regulation after clause (e) and the tenth clause of the same Article has been amended as follows.
“f) It is determined by the Insurance and Private Pensions Regulation and Supervision Agency that it has invested at least 500,000 USD or its equivalent in foreign currency into the private pension system, provided that it is kept in the funds determined by the Insurance and Private Pensions Regulation and Supervision Agency and remains in the system for three years.”
“(10) The foreign currency amounts specified in subparagraphs (b), (ç), (d), (e) and (O) of the second paragraph are sold to a bank operating in Turkey and to the Central Bank by this bank before the transaction. Turkish Lira amounts obtained in accordance with subparagraph (ç) are in Turkish Lira deposits, Turkish Lira amounts obtained in accordance with subparagraph (d) of the second paragraph are in Turkish Lira State debt instruments, Turkish Lira amounts obtained pursuant to subparagraph (f) of the second paragraph are included in the individual pension system. It is kept for three years in the funds determined by the Insurance and Private Pension Regulation and Supervision Agency. The implementation principles regarding this issue are determined by the Central Bank of the Republic of Turkey.”
ARTICLE 3– This Regulation; a) 1 month after the publication of Article I, b) Other articles on the date of publication, enters into force.
ARTICLE 4– The provisions of this Regulation are executed by the President.
Requirements of Turkish citizenship by investment
To qualify for citizenship, the main applicant should fulfil one of the following investment requirements:
Acquire at least USD 400,000 worth of real estate
Invest a minimum of USD 500,000 fixed capital contribution
Deposit at least USD 500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into government bonds
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into real estate investment fund share or venture capital investment fund share
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into a private pension system for a minimum holding period of three years
Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services
The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.
Relocating to the UK or USA with Turkish Passport
As a Turkish national , you can apply for a Business Person visa to live and eventually obtain British citizenship . Thanks to US E-2 Visa Treaty, you are eligible to apply for the E - 2 Investor Visa to help relocate to the USA for a five-year renewable period. If you dream of living in the UK or USA , Turkish Citizenship can be the gateway.
Regional Powerhouse / One of the largest and strongest economies in the World
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Prospective Visa free travel for Turkish Citizens to EU (Schengen zone) soon
Easy to obtain long-term, multiple entry visa to EU, US, Canada, UK and Australia for Turkish citizens
In February 2022 | Foreign Sales Account For 25% Of Antalya Real Estate Sales
The index of foreign investors shifted from Istanbul to Antalya, Turkey, where real estate
statistics indicate that one apartment out of every 4 apartments is sold to foreigners.
Thus, real estate sales in Antalya to foreigners amounted to 1099 apartments in February of the current year 2022.
How long does it take to obtain Turkish Citizenship (TC) for all family members?
It usually takes around 3-6 months to obtain Turkish Citizenships and Turkish Passports for the Principal Applicant (Investor) and other family members provided that all the documentation is ready and duly compiled, and pre and post-investment works are properly done and these would be diligently followed up. With the recent additional relaxation in law, the total period to obtain full Turkish Citizenships for all family members have been reduced to as low as 60 days only in 2019.
Citinavi global can assist you thoroughly on Turkish CBI scheme:
* We are the leading law firm in Turkey on Turkish Citizenship law and related matters. We have been advising our clients on Turkish Citizenship by investment (TCBI) scheme since the program was initially introduced back in 2017. We have a vast Turkish immigration law experience and we understand our clients’ each specific requirement. We can thoroughly advise and assist you and your family to obtain TCBI.
* We conduct and follow up all the necessary steps very diligently for all our clients depending on your choice of investment option to obtain Turkish citizenship. We have advised and represented our clients globally from Pakistan, Saudi Arabia, Qatar, Iraq, Iran, as well as from China, US, UK, France and other parts of the World to obtain Turkish Citizenship by investment.
Why you should work with us?
You will get the full benefit of working with one of the most reputable and corporate law firms in Turkey working internationally for many years, advising on global and Turkish migration and citizenship matters.
Partner law firm has an extensive network inside Turkey, in Istanbul where we are mainly based and also in the Capital of Turkey, Ankara. Our corporate Turkish immigration practice is renowned for very diligent approach, we extensively strive to provide the best legal services in our clients on Turkish citizenship by investment as well as obtaining Turkish residency and work permits, bank account opening in Turkey, new company and business formations in Turkey and related matters such as renting the property after investment, and yet we offer competitive rates to our clients when advising on Turkish citizenship by investment. We can handle straightforward or highly complex TC applications diligently for you.
Partner lawyer serves for your diligent advice on Turkish citizenship by investment and related matters.
* Visa Free Travel for 148 countries
* No Minimum Residency Required
* Full citizenship granted following background check plus Turkish Citizenship and Passport delivered quickly within 3-6 months only.
* You can both have a solid investment with regular income and at the same time you can obtain one of the most sought citizenships in the World.
* Turkish passport has 10 year validity and is renewable for life
* Turkey Identity Card Included
* Full free medical assistance for life, for all family members included
* No need to declare your wealth
* Turkey allows Dual Citizenships
* No Military Service required for TCBI Applicants
* Pension Programs Included
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* Future Access without visa to EU, 26 Schengen Zone Countries
* One of the best climates in the World throughout the year
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