In February 2022, it became possible to apply for Turkish citizenship by investments under the current program completely remotely: without opening an account with a Turkish bank, without visiting the Turkish consulate and without arriving in Turkey. Of course, this is a significant argument now in favor of choosing this program. And also starting from the beginning of 2022, you can, if desired, pay for an investment in US dollars, without converting them into Turkish lira.
It is known that the program “Turkish Citizenship by Investments” has existed since 2017, but few people then paid serious attention to it. Since the size of the minimum investment was 1 million US dollars. Now Turkish citizenship can be obtained for such an option as buying real estate, investing not less than USD 250,000. Moreover, it is possible to sell such real estate in three years, while retaining citizenship. It is important to weigh whether this program meets your personal goals.
Investor owns real estate, and does not pay any contributions to the fund, unlike similar investment citizenship programs in the Caribbean or Montenegro. Only USD 250, 000 for your property, your asset, and legal services plus small government fees.
No less important factor – quick application processing. Turkish citizenship, after registration of ownership of the selected property, can be obtained in 2-3 months. This is especially important if your key motivation is the desire to change your status as soon as possible, that is, to issue a second citizenship once and for all.
In the application for Turkish citizenship, you can include the spouse of the investor and children under the age of 18. It is issued completely remotely (biometrics can be handed over at the Turkish Consulate in the country of residence).
Turkish citizenship, after registration of ownership of the selected property, can be obtained in 2-3 months.
What are the benefits of Turkish citizenship?
Turkish Citizenship gives the right of visa-free entry to 110 countries of the world. Including Singapore, Japan, South Korea, Iran, Lebanon, Brazil, Georgia, Qatar.
At the same time, Turkish citizenship is a pass not only to the east, but also to the United States. Turkish citizens can apply for an E-2 investor visa. Since there is a special agreement between these two countries. However, obtaining an E-2 visa is a long process associated with participating in business in the United States.
How to choose real estate for obtaining Turkish citizenship
For those who want to choose an interesting real estate project with good profitability, APEX specialists will offer profitable solutions. For example, a residential complex in the central district of the European part of Istanbul, Beyoğlu, with partially furnished apartments with an area of 55-207 m ², 1-4 bedrooms. This is a mixed-use project: includes a hotel, residential residences, office space, shopping street. Nearby is Taksim Square, museums, historical monuments of culture, architecture, art, parks, banks, universities, cafes and restaurants, metro station.
The starting price of the apartment is USD 300,000.
Or a large-scale residential complex in the busy Asian part of Istanbul – Umraniye. Partially furnished apartments for 1-4 bedrooms with an area of 73 -249 m ². Balconies with panoramic views of the city, sea and Princes Islands. Nearby metro, shopping and medical centers, banks, cafes and restaurants, Hilton Hotel, universities, accessible transport interchange, Istanbul International Financial Center.
The starting price of apartments is USD 290,000.
As an example of real estate by the sea — a finished house on the southern, Mediterranean coast of Turkey, in Alanya. Only 5 minutes’ walk to the sandy beach. Four-storey house with 4 bedrooms, 3 baths with sea view at a cost of $290 000.
Turkish citizenship: processing costs
The cost of participating in the program consists of an investment in real estate $250 000 + payment for legal registration services from APEX + tax on the purchase of real estate. There are no large government duties (nevertheless, there are still government fees to pay for registration), unlike other citizenship programs (for example, Caribbean).
Expenses also include property registration tax – 4% of the cadastral value. Further VAT, where the rate varies from 1% to 18% depending on the object. And there is also a one-time payment for opening bills related to utilities.
With the help of APEX you will be able to undergo pre-verification and evaluate your chances of obtaining Turkish citizenship. APEX will help to prepare all the requested documents and apply for participation in the program “Turkish Citizenship for the Purchase of Real Estate.” APEX offers full legal support for a real estate transaction along with the services of a tax consultant.