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February 21, 2022

Step by Step Process investing in Fixed Capital in Turkey Citizenship By Investment

It is possible to obtain Turkey citizenship by investment in fixed capital. They include business, properties, equipment and land. It all depends on what kind of real estate the investor will consider as an investment. For every investor who would like to apply for Turkish citizenship, it is important to invest at least 500000 USD of fixed capital. In order to do so, people should know how to open a bank account.

Open Bank Account in Turkey 

For those who want to get Turkey citizenship, it is important to know how to open a bank account. There are a couple versions of accounts that can be opened by any investor. It can be a current account, credit card account, gold savings account and participatory account. In case of allocating and transferring funds, it is highly recommended to open a current account. It allows you to make deposits, make trade orders and more. A person should have at least 1000 TL to open an account.

List of documents to open the bank account 

Just like in the case of all other countries of the world, any Turkish bank will require a standard list of documents necessary for opening an account. They include:

  • The original and notarized Turkish translation of the passport of the investor;
  •  Individual tax number code;
  • A Turkey or home country utility bill!

It is important to admit that financial institutions have their own additional requirements, so it is recommended to check for them, using an official website of a particular bank. For fixed capital investments, it is important to prepare all required documents for investment info form. It contains details about the company and the share of the investor in fixed capital. They include not only a passport, but also biometrics, a copy of residence permission. These documents will allow the investor to transfer funds and apply for Turkey citizenship by investment.

Allocate and Transfer funds 

To allocate and transfer funds, it is important to open a bank account in Turkey with a current service option. With a current account, the investor will be able to freely transfer money and pay taxes or bills. It is important to admit that by investing in fixed capital, all the funds should remain in the country for at least a period of 3 years. It is recommended to look for a well-known and respected bank. There are at least 5 financial institutions that can be recommended for investors:

  •  Akbank;
  •  Ziraat Bank;
  •  Halkbank;
  • Isbank;
  •  Garanti!

They have really good stocks of foreign currencies, so it should not be a problem to receive a special purpose report that shows a minimum 500000 USD investment in Fixed Capital. The main requirement is to make sure that it was made through a legal entity, which will be confirmed by the Turkish Trade Registry Gazette with a record of all fixed capital investments made by the person.

Obtain necessary documents to apply for Turkey Citizenship by Investment

To get Turkish citizenship by investment, it is necessary to obtain a number of documents. Each applicant should prepare a birth certificate to identify a person and a home country passport. To prove a residence, an investor should use a recent utility statement. An applicant should prepare 12 biometric passport notarized pictures.

In case the investor is married, then a marriage certificate must be provided or divorce certificate in some cases. A valid in Turkey proof of health insurance. To apply for Turkey citizenship by investment in fixed capital, a proof of transfer of 250000 USD into an official Turkish bank account is required. Turkish tax ID number and CIP application form should be provided.

LONDON BASED SOLUTIONS ADVISERS – Turkey Citizenship by Investment 

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

  • Property virtual tours, 3-D tours, and in-person tours are available.
  • Due diligence checks and additional property checks are completed by our experts.
  • Residency & Citizenship document preparation and submission.
  • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high-net-worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).

For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com  or call +44 207 993 63 46.