TURKISH CITIZENSHIP BY INVESTMENT: 2023 GUIDE

Whole process takes between 3 – 6 months. Timeline depends on applicant’s choice of investment, cooperation in collecting the required documents and pace in completing the investment.

Seller and the buyer decides on the payment structure in case of a sale. However, to apply for Turkish Citizenship by Investment, you must complete the minimum investment limit. That is to say, you can only apply for Turkish citizenship when you complete the payment of all $250,000. In addition, a seller would not likely to transfer the official title deed to a buyer unless the payment is complete.

It is strictly regulated by the law that the investor must be the applicant in person. In other words, it is not possible for the applicant to invest (i.e. purchase the property) under the name of neither a company nor any legal person or entity. The rule is same even if there is a Turkish company.

According to Turkish Constitution, there are two types of official documents which President can compose. These are “Presidential Decree”  and “Presidential Decision”.

Presidential Decree, regulates general and important matters. However, Presidential Decision is about regulating small matters and subjects.

By law, a presidential decree must always be published on the Official Gazette no matter it’s content. While publishing a presidential decision with low importance is decided by the President of Turkey.

Namely, decision of accepting into Turkish citizenship is a presidential decision and therefore highly unlikely to be published.

No, it is not possible for your relatives/friends to pay the purchase price, when the property will be registered in your name.

It is mandatory for the investor to provide a signed and stamped bank receipt that shows the full purchase price. Which means that the property price must be sent from an account that belongs to the investor in person.

However, if you have a Turkish bank account, you are free to fund that account from any account under anyone’s name. In other words, as long as you provide a receipt of the latest transaction to the seller, it does not matter who puts the money to your account.

Transferring funds directly from an overseas bank account to seller’s account used to be possible. However, there were technical problems that caused delays and affected the purchase. On the other hand, with the latest updates, investors have to open a bank account in Turkey before the purchase.

On the bright side, opening a bank account in Turkey is not hard at all. Moreover, this way investor can deposit the total purchase amount in the bank beforehand. Thus, a flawless transaction occurs on the title deed transfer date.

Opening a bank account in Turkey via proxy or appointing an attorney is possible. The operation requires a special Power of Attorney (“PoA”) or a special wording in the PoA.

You need a tax ID to open a bank account in any Turkish bank as a foreign individual (whether via proxy or not). Provincial tax office issues this tax ID.

Please note that obtaining a Potential Tax ID Number does not require any declaration of tax responsibility. It is only required for the taxation of your further actions in Turkey such as obtaining a real estate, banking transactions etc.

Turkish citizenship by investment applicants and their dependents can avoid military service obligation. Under certain circumstances, it is possible for foreigners to be exempt from mandatory military service obligation.

There is a military service obligation in Turkey that is only applicable to males. According to the Military Law, “Those who acquired Turkish citizenship shall do their military service, as if the local recruits of their age group, according to their educational status and age on the date of the acquisition.”.

However, there are exceptions in below described situations;

• if you can prove that you have (or deemed to have) already completed military service in former (origin) country.
• if you are older than 22 years old on the year you acquire citizenship.

In any way, we advise our clients to contact a professional to get an individual solution for their families.

Turkey doesn’t ask citizens to declare their overseas assets. Similarly, Turkish citizens do not have to report their overseas earnings.

Only certain public servants and government officials are required to declare their owned assets regularly. However, citizens do not need to do that. There is no obligation to declare international income, assets or businesses for residents in Turkey.

We are pleased to inform you that we have reputable real estate consultancy firms as our solution partners nationwide. With their assistance, it is faster to find a real estate that meets your needs without exceeding the anticipated budget.

Attorneys with a special Power of Attorney (“PoA”) can handle all process of Turkish citizenship by investment program. On the other hand, if you want a bank account in Turkey, please keep in mind that you can not get online/mobile banking service without visiting the bank in person. Of course this is a precaution to protect you and the bank.

Decision of deprivation of citizenship is normally individual; it shall not affect the spouse and children.

On the other hand, the decision of annulment shall be applied to spouse and children who acquired Turkish citizenship for having links with the concerned person.

Some conditions may cause loss of citizenship according to Turkish Citizenship Law.

For instance, if the applicant hides the key issues, lies about the required information or forges a document. Furthermore, Turkish citizenship may be deprived by a decision of the President, in below situations.

• Rendering services for a foreign state which are incompatible with the interests of Turkey.
• Foreigner continues rendering services without the permission of Presidency, for a state that is at war with Turkey.
• If a person is voluntarily rendering military service for a foreign state without the permission of Presidency.
• In case there’s investigation or prosecution indicted against applicant due to listed crimes. And such person is unreachable for three months since he/she is abroad.

Turkey has a favorable inheritance law. Thus, your family can easily inherit your properties and assets in Turkey in case of passing away.

Neither being from certain nationalities, nor holding multiple citizenships is linked to a restriction with regard to acquisition of Turkish Citizenship. However, citizens of North Korea, Cuba, Armenia, Syria and Republic of Cyprus can not purchase property in Turkey.

Also, please be aware that there are some countries that doesn’t allow its citizens to hold multiple citizenships, however Turkey is not one of them.

Turkey allows multiple citizenships. In other words, you do not have to renounce your other citizenships to become a Turkish citizen.

According to the first paragraph of the article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship; “the investors may get the Turkish citizenship”. Hence, it is neither a promise nor a guarantee. Even if the investment is successful and the document bundle is perfect, final decision is Presidency’s.