People who are interested in Turkey citizenship by investment should look for a way to obtain one in Turkey. This country gives a number of options with requirements. There is even a way to obtain a citizenship by investment with a cryptocurrency, so everyone is able to find the option that would feel great enough for a particular person. It is important to know requirements and possible options of this program.
General Program Requirements and Investment Options
According to general program requirements of investments in Turkey citizenship, every person will need from 3 to 6 months to complete this process. Investors should be acknowledged about a couple of requirements:
- Search for a real estate to buy;
- Start a business in Turkey to make further investments in this country;
- Open a deposit!
All people who would like to obtain a citizenship will need to open a bank account to pay taxes. There are a couple of popular investment options at the moment – buying real estate, investing in fixed capital, Turkish bank account deposis, investments in government bonds, real estate investment fund share, setting up a company on a territory of this country or real estate investment fund share, venture capital investment fund share. It is worth dedicating a moment and learning more about all of these options to know exactly which one is the most efficient one.
Acquisition Process of Real Estate
It is possible to obtain Turkey citizenship by investment in real estate. A person should buy a commercial or residential property on the territory of this country that is worth at least 250000 USD and not sell this building for at least 3 years. Only after obtaining a passport, is it possible to get rid of buildings on a real estate market. At the moment, it is the most popular investment plan. It is important to know about additional payments, such as the 4% fee for a transfer of property rights.
It is up to the investor to decide which city to choose for a real estate acquisition process. Most people who are interested in obtaining a local passport are looking forward to buying a residential complex in the capital of this country. Once the commercial or residential facility is purchased, the investor needs to apply to the government to get citizenship. It is worth mentioning – it is possible to buy a number of properties to qualify for Turkish citizenship. Some buildings may have lower prices than required investment amounts. In that case, a person can buy a couple of small apartments with a combined cost of more than 250000 USD.
Investment in Fixed Capital
Those who do not want to buy property in Turkey, can apply for citizenship by making an investment in fixed capital of at least 500000 USD equivalent to Turkish Lira. It can be done by purchasing a company with a corresponding share price. The investor is also able to deposit the right amount in the local company, which will also act like a fixed capital investment. To acquire citizenship of Turkey, investors should visit this country to submit their fingerprints and sign official documents. Any other procedure can be done remotely via the internet in accordance with local laws. At this moment, there are no nationalities restrictions, which means citizens of any country in the world are able to invest in the fixed capital of Turkey.
Deposit in Turkish Bank Account
Some people would like to invest in Turkey by making a 3-year fixed deposit of 500000 USD in one of the local banks. First thing to do in this case – open bank account in Turkey that would allow to make such a transaction possible. It will be one of the easiest ways of obtaining citizenship. But there is one tricky thing – it is not possible to terminate an agreement that was previously signed with a bank before the expiration date of this document, because the opportunity to get Turkish citizenship will be lost.
Investment in Government Bonds
It is possible to get Turkish citizenship by investment in government bonds. A fairly easy method, as a person just needs to buy state bonds and hold them for a period of 3 years in order to apply for citizenship. The amount of money to invest in this case is the same, like in the case of all other options – at least 500000 USD.
Real Estate Investment Fund Share or venture capital investment fund share
Investors can put their money into a venture fund or real estate investment fund in order to qualify for citizenship of this country. It is not that hard, as it may look at first, as conditions are pretty much the same, like in all other scenarios – a person cannot terminate investments during a period of 3 years to get a Turkish passport without any problems with the law.
Set up a company and create 50 full time jobs
Big money investors are able to set up a company to gather at least 50 employees and get a legal way of obtaining citizenship. It is important to have a gross minimum wage and hire a minimum number of employees for at least half a year to have legal rights to apply for a passport. After getting it, the company can be closed and technically, there are no regulations in terms of the unemployment process after receiving a citizenship. So, it is possible to release all employers from work, once the passport is received.
The question that bothers a lot of investors is the ability to buy an existing company with at least 50 employees. It is possible, but in fact, it is still needed to wait for at least 6 months after becoming an employer. Which is why it is hard to recommend such a way of obtaining a company, as in most cases it will be much easier and cheaper than buying an existing one.
LONDON BASED SOLUTIONS ADVISERS – Turkey Citizenship by Investment
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