Located in the heart of the Middle east and Europe, Turkey is separated by Anatolia by Black sea, Bosphorus, Marmara, Dardanelles and Aegean Sea. Turkey is a predominately Muslim country with 98% of the population function within a secular constitution. There are around 5 million Arabs residing in Turkey comprising 6% of the country’s entire population
Turkey is one of the largest emerging markets in the world. The country’s geographical location and overall global economic power makes Turkey an attractive place for investors worldwide. It is the 17th largest economy in the world with a nominal GDP of USD 849.48 billion, which is set to be part of the Trillion-dollar Club in 2020. Only 16 countries are in this club.
The country has outstanding infrastructure that makes transport within major cities in Turkey convenient and reliable. With easy access to several airports all year round, your journey home is normally within half an hour in most popular locations.
Turkey’s cost of living makes the country one of the best locations for retirement. The country does not impose inheritance tax and property owners can sell their property after 3 years holding period and still keep their citizenship.
Foreigners who meet any of the following conditions may be eligible for Turkish citizenship, subject to the decision of the President of the Republic of Turkey:
- Proven by the Ministry of Industry and Technology to have made a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira.
- Proven by the Ministry of Environment and Urbanization to have acquired a real estate worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years.
- Proven by the Ministry of Family, Labor and Social Services to have created jobs for at least 50 people.
- Proven by the Banking Regulation and Supervision Agency to have deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition of not to withdraw for at least three years.
- Proven by the Ministry of Treasury and Finance to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.
- Proven by the Capital Markets Board of Turkey to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years.
Timeline: 6 – 8 months
Nationalities supported: Open for most nationalities
Visa free travel: Instant visa-free travel to 111 countries, including Japan, South Korea, Singapore and other major countries in Asia, Africa and South America
TIMELINE
MONTH 1
Step 1:
- Client signs NASC Retainer Agreement and pays the retainer invoice
- Document collection with NASC guidance
- NASC helps client select the property which must have certain specifications and permits
MONTH 2
Step 2:
- Once Title Deed of property is obtained NASC submits applications for Residency permit and Citizenship simultaneously
- Interview with the client present in Turkey might be required by the Government
MONTH 6
Step 3:
- Citizenship Approval is issued
Step 4:
- NASC obtains the passports, which are then delivered to the client in their home country.
The time estimated to receive the citizenship approval is an indication and would vary for each specific case depending on the Government’s due diligence processing time*
To know more about Turkey’s citizenship and 2nd passport program please contact us or fill up the assessment form in our website and one of our specialists will contact you to discuss your needs.
