Turkey has 53rd strongest passport in the world, with access to more than 115+ countries visa free travel, Turkey Is the most favoured destination in Europe. The revised Turkish citizenship by investment program was introduced earlier in September 2018 for real estate investors. Investors can be benefited by re-selling the property after a period of time or can benefit themselves from rental income.
The application process is straight forward and the investor can have their 2nd passport in minimum of two months’ time. There is no requirement for investor to declare assets or how the income is generated and most importantly there is no physical stay required. Having this passport can also benefit applicants to relocate in both The UK and USA, under various visa categories.
The Turkey Residency by Investment got launched, the Turkish government stated that the entry cost has to be a minimum of $1 million. As a result, this did not allure many investors at first. When the government realised that the amount is a bit unreasonable, the government dropped the cost required to $250,000 in 2019. Now the country generates an average of $250 million each month from foreign investors alone.
However, as the figure of applicants who are willing to obtain Turkish citizenship is on the rise, there are specific rumors about increasing the cost from $250,000 to about $500,000. Such a decision’s intention is to meet the requirements of the locals and investors both.
An applicant may be unaware, but several benefits exist when you enrol into Turkish citizenship by investment programme. Besides, some benefits are mentioned below in a quick rundown.
To qualify for the Turkish Citizenship By Investment programme, the primary applicant requires the undersigned:
Moreover, the applicant requires the following documents:
In order to qualify for citizenship in Turkey through an investment programme, the primary applicant must adhere to these steps:
One can get citizenship of Turkey through birth, naturalization, adoption and by investment.
One of the major reasons for the popularity of Turkish residency investment program is that the Turkish Government decision to lower the real estate investment for citizenship acquisition to $250,000 (from $1m) making it one of the cheapest, most desirable CIPs available.
Minimum investment requirements are as follows: Real Estate Investment $250,000, Bank Deposit $500,000 and a Capital Investment of $500,000.
Turkish passport entitles one to visa free travel to 115 countries.
The entire cost or value of the real estate needs to be evaluated through appraisal companies that are certified by the Turkish government.
The duration of the real estate evaluation report is around three months that starts from the date of its credibility and issuance.
Payment must only be made through wire transfer. The buyer should make the payment from his or her account to the bank account of the seller. Moreover, a buyer has to provide proper bank receipts for the same.
The country’s government will study your file separately, and depending on this security study, officials will decide upon your status and make a decision.
To take certain advantages of the programme, you need to invest a fresh $250,000.
The Turkish government does not promote this. They will allow you to retain your old nationality and then, you not take any particular action concerning the old nationality.
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