Our clients are mostly interested in Turkish Citizenship by investment programme due to fact of flexibility of the investment and amount of it, moreover opportunities it brings to relocate to USA and UK potentially, via different immigration routes by being Turkish citizen.
Overview of the investment options available to invest $500,000 below:
Acquisition of Turkish Citizenship by Depositing Cash into Turkish Bank Account
It’s not required that such amount shall be deposited to only one (1) single bank that operates in Turkey. In this context, foreigner may deposit the money more than one (1) bank operating in Turkey with the condition to keep such deposit at such bank for at least three (3) years and the total deposited amounts shall be equal to $500,000.
Applicant shall also apply for Turkish citizenship based on a joint account (with his/her spouse or any other person) provided that joint account holder(s) other than the applicant has an express consent that they keep such deposit at bank for at least three (3) years.
It is possible to change the currency or type of investment in such three (3) year period which is mentioned in Regulation (such as purchasing a real estate investment fund share and capital investment trusts fund share with a minimum value of $500.000). However, in case of shifting the amount to another investment type, such process shall be instantaneous and there shall not be any interruption for three (3) years period. Otherwise, the BRSA shall promptly inform the Ministry of Internal Affairs regarding such interruption. Also, a foreigner may benefit from the interest, dividend and similar returns arising from the deposited amount pursuant to executed contracts with banks and type of the bank account provided that the deposited amount shall not fall below the amount of USD 500.000.
In the event that a currency other than the U.S. Dollar is deposited in the banks, the U.S. Dollar equivalent at the date of the opening of the account shall be determined and the deposited amount shall be expected to remain in the banks at the same rate determined for three (3) years. Therefore, potential alterations on exchange rates shall not be considered.
The amount which deposited in a Turkish bank will be blocked for three (3) years with applicant’s request. However, this is not a blockade that makes the amount cannot be withdrawn by the holder of the bank account. As soon as the amount withdrawn by the account holder or it is fallen under 500.000 USD, the bank will report the situation to the BRSA and the BRSA will immediately inform the Ministry of Internal Affairs for initiation the cancelling process for Turkish citizenship. If this occurred once, new application will not be considered as an on-going time span [three (3) year period]. Since the amount can be withdrawn by the applicant, there shall not be any restriction on the deposit account such as a sequestration or any other legal limitations. If there occur any restriction, circumstance will be announced to Ministry of Internal Affairs.
Acquisition of Turkish Citizenship by Buying Real Estate Investment Trust Shares
Foreign investors can invest in Real Estate Investment Trust, which is approved by the Capital Markets Board and related to the establishment of each types of trust.
Real estate investment trusts (REIT) opens a new door for both investors and project owners operating in the promising real estate market. For, in the projects requiring full-scale investments such as shopping malls and business centres, both parties are confronted with the same problem, and at this point REITs play a crucial role and benefit for the investor/applicant.
The Turkish company will be allowed to invest in real estate assets with amount of $500,000:
– properties and rights over properties;
– deposits and participations;
Acquisition of Turkish Citizenship by Buying Government Debt Instruments
The Debt Securities Market aims to determine the prices that investors will invest with fixed income securities in a competitive environment in the market and convert them into cash at any time.
There are nine (9) types of debt securities announced by Borsa Istanbul:
The Ministry of Treasury and Finance has not issued a circular. However, pursuant to paragraph (d) of Article 20 of the Regulation, the foreign investor holding at least USD 500,000 government debt instruments mentioned above shall be eligible for the application.
In order to qualify for citizenship within the framework of the Regulation, the foreign investor shall have the relevant shares without any interruption for three (3) years from the date the investment requirement is met.
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Mann’s Solutions is international immigration law firm with offices in London, Hong Kong, Istanbul and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration lawyers regulated by OISC (Office of the Immigration Services Commissioner).
For further information or to discuss your personal circumstances in a private consultation with our immigration lawyers in London Office, please contact us at email@example.com or call +44 207 993 63 46.