Do you want to move abroad and obtain a second passport? Turkish Citizenship by investment in real estate, also called the Turkish golden Visa, offers unique and attractive opportunities to access Turkish passport benefits while investing in Turkey's real estate economy. For foreign investors, investing in Turkish property provides stability, mobility and global opportunities.
In addition, becoming a citizen of Turkey offers numerous benefits for both businesspersons and retirees. Of course, there are the standard benefits like the gorgeous weather, numerous beach resorts, delicious cuisine, and the welcoming Turkish hospitality, but what are the long-term benefits that will definitely improve your quality of life? This article discusses them, the real estate eligibility requirements, the application process, and where to invest.
Turkish Citizenship benefits | Real Estate Investment
One main benefit of Turkish citizenship investment in real estate is employment opportunities. All holders of the Turkish golden Visa can work in any sector and have access to all the available job opportunities. Currently, foreigners do not have the right to work in specific sectors, like the medical professions or security. Additionally, they need a work permit even if they want manual jobs like waiting in a restaurant, and the employer must already employ 5 Turks for every foreigner. Therefore, by having Turkish Citizenship through the real estate golden visa, employees cut out red tape and increase employment choices.
Social and Health Services
Those with Turkish Citizenship benefits can access social and health services through the real estate golden visa. The Turkish government provides healthcare services to all its citizens, and the social security system covers all working citizens of Turkey. This means quality healthcare and social services. Upon getting Turkish Citizenship, sign up for the SGK system. The cost will vary. For example, independent freelance worker’s pay different amounts to contractually employed personnel. Currently, foreigners under 65 who live in Turkey need health insurance. Additionally, those over 65 who don't opt for health insurance pay their own costs. So, buying into the social and health services is a definite benefit.
No Minimum Residence Days on the Golden Visa
The downside of other international golden visa programs is that they require applicants to live in the country for a set number of days yearly. The Turkish Citizenship scheme, however, is different. Applicants can gain Citizenship and live permanently in another country. This will not affect your Golden Visa.
Current Dependents and Spouse
For Turkish Citizenship via the real estate program, spouses and dependent children under 18 can also be included in the application. Once more, any future-born dependents will automatically gain Turkish Citizenship when approved. For children under 18, various educational schools, including state and private, have varied curriculums. Private schools also offer international curriculums; hence if dependents wish to leave Turkey when older, their qualifications will be recognised.
USA Treaty for an E2 investment visa
The E-2 Investor Business Visa is available to individuals from countries with qualifying treaties of commerce and navigation with the United States. The investor needs the Citizenship of the treaty country and to be in the United States to invest in and manage a business. Turkey is one of those countries, and you can access it via investment in real estate. The applicant must make substantial investments in a U.S. business to be eligible. The investment amount varies but should be sufficient to ensure success. The investor must own at least 50% of the U.S. business or have operational control through managerial positions.
The E-2 Visa is typically issued for two to five years. It can be renewed indefinitely as long as the business continues to operate and meet the eligibility requirements. The Visa also allows the investor's spouse and unmarried children under 21 to enter the United States as dependents. Spouses can also obtain work authorisation in the U.S. Although it is not permanent USA citizenship, for short-term business, Turkish Citizenship enables application for an E2 investment visa.
Turkey Accepts Dual Citizenship
Dual Citizenship, also called dual nationality, refers to an individual who is a citizen of two or more countries and hence is entitled to the rights and privileges of both. Please note that some countries do not allow dual citizenship. In addition, they may restrict the rights and freedoms of dual citizens, so check with your home country before applying for Turkish Citizenship.
Permanent Turkish Citizenship benefits
Once you purchase real estate and pledge to keep it for at least three years, your citizenship will be guaranteed indefinitely. Additionally, for your spouse and any dependent children included in your original application. Of course, real estate ownership can last as long as you like. This takes away the hassle of constantly applying for residence permits.
No Need to Learn Turkish
Unlike other global citizenship programs, applicants do not need to know the Turkish language. However, to live in Turkey permanently, learning the language basics is highly recommended for easier integration into daily life.
About the Turkish Passport and Visa-Free Travel
Turkish passports are issued to Turkish citizens so they may travel internationally and have citizenship proof. Turkish passports are valid for up to 10 years for adults and up to 5 years for children under 18, and there are regular passports, official passports for government officials, and diplomatic passports for diplomats and dependents. Every Turkish passport contains biometric features, including a microchip that stores the Turkish passport holder's personal information and a digital photograph. Turkish passport holders travel visa-free or with visa-on-arrival to many countries, including EU countries, Japan, South Korea, and others. In total, 110 countries as of 2023.
How Much does Turkish Citizenship Cost?
The minimum capital investment for Turkish Citizenship by real estate acquisition is $400,000. In addition, the investment must be held for at least three years. Remember, when you purchase real estate worth this amount, the various fees associated with the application process, like lawyer fees, application fees, and translation fees. For property in Turkey, this is typically around 6 to 8%.
How to Get Turkish Citizenship by Investment
Open a Turkish Bank Account and Get a Turkish Tax Number: Receive a Tax Registration Number at any tax office branch in Turkey using your original passport. You will also need an official document like utility bills showing your current address for the Turkish bank account. However, that's all you need to open a Turkish bank account as a foreigner.
Buy Real Estate: We walk all our customers through this process. However, please let us know if you want to buy property specifically to get Turkish Citizenship because the property must be government approved. At the same time, when signing for the deeds, you must declare that your reason for purchase is Citizenship by investment and pledge to keep the property for 3 years. We also obtain a certificate of conformity for the real estate property.
Apply for a Residence Permit: Once again, we guide you on this topic, although some applicants in Turkey complete the residence permit process themselves because it really is that easy. The first residence permit for property owners is a year, but this is enough time to complete the citizenship application.
Apply for Citizenship by Investment: Once you have your residence permit, apply to acquire Turkish Citizenship, although most applicants typically hire a knowledgeable lawyer. See the complete process to obtain Citizenship here.
Further reading: Turkish Citizenship by Investment process.
Investment in Real estate in Istanbul
Please note that the Turkish government introduced the Turkish citizenship investment program to rejuvenate the Istanbul housing market and attract foreign direct investment; hence, most eligible properties are located there. Istanbul, a famous city for property investment in Turkey, is strategically located between Europe and Asia, which makes the city a gateway to both continents. The Bosphorus Strait location also leads to the Black Sea.
Istanbul's housing market features various properties, including apartments, villas, commercial properties, and land. The city's modern and traditional architecture mix also features rapid development and historic charm. However, when looking at real estate prices, they vary depending on location, property type, and other factors. Generally, real estate prices are higher in the city centre and upscale neighbourhoods, while suburbs offer more affordable options.
The growing population and tourism industry make Istanbul ideal for rental income because investors rent properties to local residents, expats, or tourists. Istanbul's real estate market has also been growing steadily in recent years, and many experts see potential for long-term growth. Overall, Istanbul offers many opportunities for real estate investment, and you can see our portfolio of properties for sale here.
Alternatively, contact us stating that you are interested in the real estate program and we will chat more, answer your questions and also send through a portfolio of properties that are eligible.
Conclusion on Turkish Citizenship benefits by investment
Aside from real estate, becoming a Turkish citizen has many benefits to enhance the quality of life, from employment and education opportunities to visa-free travel and social and health services. Be sure to research the requirements and process for obtaining Turkish Citizenship. In conclusion, investing in Turkish real estate to obtain Turkish Citizenship brings many potential benefits. The fast and straightforward process provides tangible rewards. With friendly and welcoming cultures and numerous investment opportunities, invest in Turkish real estate today and discover the many advantages of a Turkish passport.
Also About Istanbul
Straight Talk: In our YouTube series, we discuss what investors of real estate in Turkey need to know. This episode looks at segments of the Istanbul market including the large lifestyle residences of urban regeneration programs, resale properties and boutique projects. Get advice from the experts and make your Istanbul investment work for you.
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