Seeking Second Citizenship by Investment? Welcome to Turkey!

Second citizenship is becoming a very popular form of investment as the world is shaken by conflicts and becoming less stable. However, there are not so many countries that offer relevant programs at an affordable price and within reasonable terms, but Turkey is one of them. Its passport is strong enough to attract investors, and this is an ideal option if you want to live by the seaside with your family, rent your real estate out to get a passive income or start a business in Turkey. You can get all the latest information on citizenship-by-investment programs, international business and banking, and other important topics online.

Turkish Economic Citizenship: Main Advantages

Turkey is a country with a rapidly developing economy, and you will get the following benefits by acquiring its passport:

• Turkey is a great opportunity to get passports for your whole family as you can submit a collective application.
• You will not have to wait for long to get a Turkish passport if your documents are in order and you have made the required investment: you will become a citizen within 3 to 12 months, and this process is highly likely to be accelerated soon as the country is setting up more centers for documents processing to deal with the increasing inflow of potential economic citizens.
• All investment options offered by Turkish authorities are refundable, which means that you will return the amount invested in three years while retaining your Turkish passport.
• Education opportunities in Turkey are excellent, and some of them are free.
• Turkey is the 17^th biggest economic power in the world.
• Living in Turkey is not required before or after you obtain a local passport: you can reside in any country you want and visit Turkey as frequently as you want to.
• You will need to renew your Turkish passport every ten years, but the procedure is quick and straightforward.
• Real estate prices are on the increase, and this tendency has been going on for several years now. It means that investment in Turkish real estate is a very profitable project: you can resell it in three years and get back the money you spent on the investment program and receive profit!
• Turkish passport is quite strong: it gives access to 123 countries without a visa (or with visa-upon-arrival).
• Finally, a Turkish passport gives you the right to easily receive a US E2 (investor’s) visa.

Investment Options

Turkey offers seven investment options, and all of them are refundable. Let’s take a detailed look at each of them.

Buying Real Estate

You will need to buy a property in Turkey that costs at least 400,000 US dollars, and this is the cheapest alternative available. The purchase has to be approved by the Ministry of the Environment and Urban Development, and it should be kept by the investor for three years before it can be resold. You will need to submit relevant documents to the Ministry and obtain a conformity certificate. The property you intend to buy has to be assessed by a licensed authority to confirm its cost, and you will have to submit a property assessment certificate.

Investment in Business

If you choose this option, you will have to invest 500,000 US dollars into a company based in Turkey that is approved by the Ministry of Industry and Economy for that purpose. You will have to obtain a conformity certificate from the Ministry of Industry and Technology. You will need to complete an investment form and obtain a document that contains information about the company and a document that shows its corporate structure from the local trade register.

Related reading: 4 Mistakes Young Entrepreneurs Should Avoid

Creation of Jobs

If you are an entrepreneur, you will have to create 50 jobs for the local residents to become a Turkish citizen. This fact should be confirmed by the Ministry of Labor and Social Infrastructure which will issue a conformity certificate.

Bank Deposit

This option will require you to deposit 500,000 US dollars with a Turkish bank for three years. You will need to obtain a conformity certificate from the Bank Regulation and Supervision Agency and get a copy of the bank slip and the deposit certificate to confirm your investment.

Investment in State Bonds

Purchase the Turkish bonds for the amount of at least 500,000 US dollars and keep them for at least 3 years to retain your Turkish passport for good. In this case, the conformity certificate will be issued by the Ministry of Finance. You will also need to get a document that certifies the purchase of bonds and a document that certifies account registration after the bonds have been deposited.

Investment/Venture Fund

You will be required to invest at least 500,000 US dollars in a Turkish venture or investment fund and keep the money there for no less than 3 years. You will also need to obtain a conformity certificate from the Capital Market Board.

Investment in a Private Pension Fund

You will need to invest 500,000 US dollars in a Turkish private pension fund for no less than three years. The Private Pension Regulation and Supervision Agency will have to approve the investment and issue a conformity certificate.

Conclusion

Seeking second citizenship by investment in Turkey is an enticing opportunity worth exploring. With a robust citizenship-by-investment program, strategic location, and a range of benefits, Turkey offers a promising path to dual citizenship.

If you are considering obtaining a second citizenship, consult with reputable professionals who specialize in citizenship-by-investment to navigate the process and ensure a successful outcome. Embark on a journey to unlock new opportunities, expand your horizons, and enjoy the privileges that come with Turkish citizenship.