Investing in Turkey is a great way to start a new life and gain access to a country with immense potential. The government of Turkey has made it easier for investors to apply for citizenship through their Citizenship by Investment (CBI) program, which enables foreign nationals to become Turkish citizens in exchange for investing in the country’s economy. In this article, we will break down the process of applying for Turkish citizenship by investment and provide useful information about the requirements and benefits associated with becoming a citizen of Turkey.
Requirements for Obtaining Turkish Citizenship by Investment
The first step in obtaining Turkish citizenship by investment is understanding the requirements set forth by the government of Turkey. The primary criteria are as follows:
• You must make an eligible real estate purchase or capital investment worth at least $250,000 USD (or its equivalent in another currency). This can include purchasing real estate, making a capital contribution to a company based in Turkey, or investing in venture capital funds or partnerships.
• You must have held your chosen investment for at least three years before you can apply for citizenship.
• You must prove that you have sufficient financial resources (at least $500,000 USD) or have provided proof of income from abroad over the last three years.
• You must be able to demonstrate that you have no criminal record and are not deemed a security risk by the government of Turkey.
• You must not be subject to any travel bans imposed on you by any other country, including Turkey itself.
• You must provide proof that you speak at least basic conversational Turkish language skills.
In addition to these requirements, applicants must also submit documents such as passport copies and tax returns as part of the application process. Once all these steps have been completed, applicants can then submit their application along with supporting documents such as bank statements and property deeds proving their eligibility under CBI laws. It should be noted that these requirements may vary depending on individual circumstances; thus it is important to consult with a lawyer who specializes in immigration law prior to submitting an application.
Benefits of Becoming a Citizen of Turkey
Once an applicant has successfully obtained Turkish citizenship through investment they are then able to enjoy numerous benefits such as:
• The right to live and work anywhere within the Republic of Turkey without restriction; this includes both urban and rural areas across the country’s 81 provinces;
• The ability to own property in Turkey;
• Visa-free travel within the Schengen Area;
• Access to world-class healthcare services; • The opportunity to study at top universities across Europe; • Significant tax breaks on income earned within Turkey; • Accessibility for dependents living outside of Turkey who wish to relocate permanently; and • Accessibility for spouses who may wish to obtain residency status after marriage if they are not already citizens themselves.
Conclusion: Investing in Turkey is an excellent way for foreign nationals seeking new opportunities abroad while also gaining access to one of Europe’s fastest growing economies. Through its Citizenship by Investment program, investors can quickly obtain permanent residency status before eventually becoming full citizens after fulfilling all necessary requirements set forth by the government of Turkey. By taking advantage of this unique opportunity, investors can enjoy numerous benefits ranging from visa-free travel throughout Europe’s Schengen Zone, access top-tier healthcare services, take advantage of significant tax breaks on income earned within turkey, and more! Ultimately becoming a citizen grants one access into one of today’s most promising countries – what better reason is there than that?