Turkey Citizenship Law: How to legally become a Turkish citizen from anywhere in the world
Before now, you would have to go through hell to become a citizen of Turkey as a foreigner. But these days, thanks to the real estate investment initiative by the Turkish government, anyone from any part of the world can become a citizen of a country with the 13th biggest economy in the world.
Acquiring Turkish citizenship through real estate follows the Turkey citizenship law. This means that all investors and property purchasers will have to follow due process to acquire citizenship in the country. To do this, there are several investment options that have been used as a vehicle to create a path to Turkish citizenship for foreign investors.
Turkey Citizenship Law: Possible investment options for becoming a Turkish citizen
There are several investment pathways that can qualify foreigners to become citizens of Turkey. However, the cheapest and simplest pathway is the option that allows you to become a citizen after spending $250,000 or more. This is a minimal investment option that allows a foreigner to become eligible for the Turkish citizenship program.
Also, the buyer can decide to live in the property or rent it out. As a rental property, it can be a good source of rental income. A good benefit of this real estate Turkey citizenship law is the fact that the investor can decide to re-sell the property three years after they have bought the property.
Also, there are other options for getting Turkish citizenship. They are either through cash deposits or through setting up a business.
Turkey Citizenship Law: First option – $250,000 – Property
According to the Turkey citizenship law on real estate investment, an investor qualifies for Turkish citizenship if they have spent a minimum of $250,000 on any property in the country. This can be the purchase of a commercial or residential property. This property can be rented out to receive a rental income. It can also be sold by the buyer after 3 years of ownership.
The good thing about this option is the fact that as an investor, you are not restricted to one property. You are also eligible to invest in multiple properties in the country.
Turkey Citizenship Law: Second option – $500,000 – Cash investment
According to the Turkey citizenship law, another way you can become a citizen of the country is through cash investment. This stone, it is twice the previous amount. With a deposit of half a million dollars in any Turkish bank for a minimum term of 3 years, you can become a citizen of the country.
Another option under the cash investment program is to invest in any fixed asset worth half a million dollars. This will have to be verified by the Turkish Ministry of Industry and Technology.
A third option for the cash investment for Turkish citizenship is to spend half a million dollars on Government bonds. You may also receive interest from this option. Also, investments in government bonds are to be maintained for 3 years.
The fourth option under this alternative is to invest a minimum fixed capital of half a million dollars in the form of a venture capital investment or a real estate fund share which is to be held for nothing less than 3 years. This is to be proven by the Turkish Board of Capital Markets.
Turkey Citizenship Law: The third option – Setting up a business
According to the Turkey citizenship law, you are also eligible to become a Turkish citizen by virtue of setting up a business in the country. This means that you are starting a business in the country and employing a minimum of 50 Turkish citizens as employees in the country. For this to be processed, it will have to be confirmed through the Turkish Ministry of Labour and Soci Security.