How Much do you Need to Invest in Turkey to get Citizenship
In order to acquire Turkish citizenship through investment, three basic conditions must be met. These are: realizing the investments specified in the regulation, obtaining a short-term residence permit in accordance with Article 31/1(j) of the Law on Foreigners and International Protection No. 6458, and applying to the relevant institution for citizenship. It is possible for people who meet all three conditions to become Turkish citizens by the decision of the President.
The first condition for acquiring Turkish citizenship through investment is to make the investments specified in the regulation and obtain a certificate of conformity from the relevant institutions. So much so that people who make investments, the details of which will be discussed below, are given a certificate of conformity by the institution responsible for supervising this investment. Obtaining the certificate of eligibility is the first stage of applying for citizenship. Seven different investment types are foreseen in the regulation, and the scope and amounts of these investments are determined by the President.
The second condition for acquiring Turkish citizenship through investment is to obtain a short-term residence permit in accordance with Article 31/1(j) of the Law on Foreigners and International Protection No. 6458. The conditions for obtaining a short-term residence permit are regulated in Article 32 of the same law. According to this;
- To make a request by citing one or more of the reasons listed in Article 31/1 and to submit information and documents related to this request.
- Not being among the foreigners who will not be allowed to enter Turkey
- Having housing conditions that comply with general health and safety standards
- If requested, to submit a document showing the criminal record issued by the competent authorities of the country of which the person is a citizen or legally resides.
- Providing address information where he/she will stay in Turkey
It is possible to grant short-term residence permit to people who meet the conditions.
Investors who have received an investment eligibility certificate and a short-term residence permit must apply to the offices of the Immigration Administration in Istanbul and Ankara with the documents required for application. Upon the written instruction of the Ministry of Internal Affairs, a file containing the documents required for the application is prepared by the application authorities for the foreigner applying for citizenship. The completed file is sent to the Ministry of Internal Affairs for decision. The Ministry forwards to the President those who it has determined do not pose an obstacle in terms of national security and public order, and citizenship is acquired by the decision of the President.
It should be emphasized that, if the investor acquires citizenship, the investor’s spouse and their minor or dependent foreign children can also acquire Turkish citizenship. In order for family members to gain citizenship, it is sufficient for the investment to be made by only one person, and an application must also be made on their behalf.
It is possible to acquire Turkish citizenship through investment by a person determined by the Ministry of Industry and Technology who has made a fixed capital investment of at least 500,000 US Dollars or foreign currency. Details of the investment to be made by the Ministry of Industry and Technology were stated. Accordingly, fixed capital investment may be realized by completely purchasing a non-public company or by becoming a partner in the company to a certain extent. In any case, the amount corresponding to the partnership share purchased by the foreign investor must be at least 500,000 US Dollars or foreign currency. However, real estate and vehicles that are not directly related to the field of activity are not included in the calculation of the fixed investment share. People who are entitled to obtain citizenship by investing in fixed capital cannot transfer their payments in their companies to another person for at least three years after the person who has issued their identity documents.
The person who purchases a real estate worth at least 400,000 US Dollars or the equivalent foreign currency by adding a clause not to be sold for three years to the title deed will be entitled to Turkish citizenship. However, it is not mandatory to purchase real estate in order to acquire Turkish citizenship. So much so that it is possible to acquire citizenship by making a real estate sales promise contract. For this, a condominium or floor easement must be established in the real estate. At the same time, at least 400,000 US Dollars or the equivalent foreign currency amount must be deposited in advance and a commitment that no transfer or cancellation will be made for three years must be annotated.
It is possible for people who are determined by the Ministry of Labor and Social Security to employ at least 50 people to acquire Turkish citizenship.
Individuals who are determined by the BRSA to have deposited at least 500,000 US Dollars or equivalent foreign currency in banks in Turkey, provided that they keep them for three years, can obtain citizenship. While it is possible to deposit this money into a single account, it is also possible to deposit it into different accounts. So much so that, when deciding whether the investor meets the conditions, the total deposit amount of all accounts opened in banks in Turkey will be taken into account. Accordingly, in order to acquire citizenship, the total amount is sufficient to be 500,000 US Dollars or the equivalent foreign currency.
People who purchase government debt instruments worth at least 500,000 US Dollars or equivalent foreign currency, provided that they keep them for three years, will be able to apply for Turkish citizenship. There are nine types of government debt instruments that people can invest in. These; Government Domestic Debt Securities, Central Bank of the Republic of Turkey Liquidity Bonds, Financing Bills, Bank Bills, Asset and Mortgage Backed Securities, Asset and Mortgage Backed Securities, Income Indexed Bonds, Income Partnership Bonds and Private Sector Bonds. It is possible for people who invest in these instruments and hold them for three years to apply for Turkish citizenship.
A person who purchases a real estate investment fund or venture capital investment fund participation share of at least 500,000 US Dollars or equivalent foreign currency, provided that he/she holds it for at least three years, will be able to apply for citizenship. The details of the investment to be made have been determined by the Capital Markets Board. Accordingly, in order to be eligible for citizenship, the relevant investment must be held uninterruptedly for 3 years from the date the minimum investment requirement is met.
In this context, participation shares should not be reduced by the will of the investor through transactions such as sale and transfer. However, if the value of the participation shares falls below 500,000 USD as a result of the change in the exchange rate, it will not affect the application or acquisition of citizenship. If there is a decrease in the value of the investment or the number of participation certificates against the will of the investors, the minimum investment requirement is not considered lost. If there is any restriction on the participation shares that would limit the ownership right, it is assumed that the condition of holding it for three uninterrupted years has not been met.
Another type of investment is investing in the private pension system. Accordingly, people who deposit at least 500,000 US Dollars or the equivalent foreign currency into the private pension system and keep this money in the system for three years will be able to apply for citizenship. Details of the investment will be determined by the Insurance and Private Pension Regulation and Supervision Agency.
The documents required for the application for Acquisition of Turkish Citizenship through Investment are as follows:
- Turkish Citizenship application form petition
- Passport or similar document showing which state the applicant is a citizen of
- Birth certificate of the applicant
- 2 biometric photographs
- Applicant’s marital status certificate
- Documents showing title deed or investment
- A copy of the full-certificate population registration application
- Real estate valuation report
- Fee payment receipt deposited at the finance cashier
It is possible to gain Turkish Citizenship by creating employment. For this, employment needs to be created for at least 50 people and an application must be made to the Ministry of Family, Labor and Social Services with the documents listed below:
- Employment information form
- Notarized signature declaration of the applicant
- The applicant’s passport and its Turkish translation
- 4 biometric photographs
- Trade Registry Gazette records showing the partnership and capital shares of the company or companies employing at least 50 Turkish Citizens
- Current Date Trade Registry Certificate
- Workplace Employee List obtained from SSI, which shows the list of Turkish Citizens working as insured in the workplace owned or partnered by the applicant.
- Current letter from the Revenue Administration showing the tax debt status of the business of which the applicant is the owner/partner.
- Letter from SSI showing the Social Security premium debt status of the business owned/partnered by the applicant.
- During administrative inspections, letters and documents indicating whether an administrative fine has been imposed on the applicant’s workplace in the last 6 months.
Citizenship applications of foreigners who meet the conditions mentioned above are examined and a decision is made by the administration. In some cases, the administration may decide to reject these applications for various reasons. The reasons for rejecting the application may be such as failure to meet the conditions set out in the legislation, application with incomplete or incorrect documents, or a rejection decision may be made within the discretion of the administration.
In any case, foreigners whose citizenship applications are rejected may file a lawsuit to request the annulment of this decision if they believe that the rejection decision is unlawful. Because the decision to reject the citizenship application is an administrative action, it is subject to judicial review. Accordingly, the foreigner whose request is rejected;
- Within 60 days from the notification of the rejection decision, an annulment case can be filed directly in the administrative court.
- Before filing an annulment case, an administrative application can be made within 60 days, requesting the removal of the rejection decision. This application stops the administrative lawsuit filing period that has started to run.
- If this application is not responded to within 30 days, the request will be deemed rejected. If the application is rejected, it is possible to file an annulment lawsuit.
- The court in charge of the annulment action to be filed against the decisions to reject the citizenship application is the administrative court, according to Article 1 of the Administrative Procedure Law No. 2577. The competent court in the annulment action to be filed against the decision to reject the citizenship application is the administrative court where the administration that rejected the application is located.
