Introduction
In today’s globalised world, many countries provide pathways to citizenship for individuals who make significant economic contributions. Turkey is among these jurisdictions, offering citizenship by investment, also referred to as exceptional citizenship, under its nationality laws. This option has attracted international investors seeking strategic access to Turkey’s vibrant economy, advantageous geographical location, and visa-free or visa-on-arrival access to numerous countries.
Unlike citizenship by birth or marriage, which rely on family ties, citizenship by investment allows foreigners to obtain Turkish nationality by making a qualifying financial commitment. This article outlines the legal framework of exceptional citizenship in Turkey, the types of investments accepted, and a practical guide for foreign investors.
Legal Framework of Citizenship by Investment
1. Governing Legislation
- Law No. 5901 on Turkish Citizenship.
- Regulation on the Implementation of the Turkish Citizenship Law (amended in 2017 and 2018).
- Presidential Decisions specifying the financial thresholds and investment categories.
2. Article 12 – Exceptional Citizenship
- Grants the President of Turkey discretion to approve citizenship for foreigners who:
- Provide significant contributions in science, technology, economy, culture, or sports, or
- Make investments meeting the minimum thresholds established by law.
3. Key Amendments
- In 2018, the minimum real estate investment threshold was reduced from USD 1,000,000 to USD 250,000, sparking international interest.
- In 2022, the threshold was increased to USD 400,000.
- Other investment categories (capital, jobs, bank deposits) remain available as alternatives.
Investment Options for Citizenship
Foreigners may apply for Turkish citizenship if they complete one of the following:
- Real Estate Purchase
- Minimum value: USD 400,000.
- Property must be held for at least 3 years.
- Single or multiple properties may qualify, provided the total meets the threshold.
- Capital Investment
- Minimum: USD 500,000 fixed capital investment, confirmed by the Ministry of Industry and Technology.
- Bank Deposit
- Minimum: USD 500,000 deposited in a Turkish bank.
- Funds must remain blocked for at least 3 years.
- Government Bonds
- Minimum: USD 500,000 in government debt instruments, held for at least 3 years.
- Employment Creation
- Creating jobs for at least 50 Turkish employees, verified by the Ministry of Labor and Social Security.
- Venture Capital / Fund Participation
- Investment of USD 500,000 in a venture capital investment fund or real estate investment fund, confirmed by the Capital Markets Board.
Practical Guide for Foreign Investors
Step 1: Choose the Investment Route
- Decide between real estate, capital, deposit, or employment creation.
- Investors often prefer real estate due to rising property values and rental opportunities.
Step 2: Secure Residency Permit
- Obtain a short-term residence permit, which is granted quickly after investment.
Step 3: Citizenship Application
Applications are submitted to the Provincial Directorate of Population and Citizenship or via special investor desks. Required documents include:
- Valid passport and notarised translation.
- Birth certificate.
- Marriage certificate (if applicable).
- Investment certificate issued by the relevant ministry (confirming compliance).
- Bank receipts and property valuation reports.
- Biometric photos.
Step 4: Review and Approval
- Ministries verify compliance with investment thresholds.
- The Ministry of Interior prepares the file and forwards it to the Presidency.
- Final approval is granted by the President of the Republic.
Step 5: Issuance of Citizenship
- Once approved, the investor and family members (spouse and children under 18) acquire Turkish nationality simultaneously.
Advantages of Turkish Citizenship by Investment
- Fast Track Procedure
- Applications can be finalised in 3–6 months.
- Family Coverage
- Includes spouse and dependent children under 18.
- Dual Citizenship Permitted
- Turkey allows dual nationality, enabling investors to retain their existing citizenship.
- Real Estate Market Benefits
- Investment in property can provide both rental income and capital appreciation.
- Mobility and Visa Access
- Turkish citizens enjoy visa-free or visa-on-arrival access to over 110 countries.
- Business Opportunities
- Access to Turkey’s customs union with the EU and strong trade ties with the Middle East.
Real Life Scenarios
- Investor from the Middle East
- Purchases an Istanbul apartment worth USD 500,000. Registers the title deed with a 3-year restriction. Within 5 months, acquires Turkish nationality for himself, his wife, and two children.
- Entrepreneur from Europe
- Establishes a company in Izmir employing 60 Turkish workers. After verification by the Ministry of Labor, the family obtains Turkish citizenship.
- High-Net-Worth Individual
- Deposits USD 600,000 in a Turkish bank for 3 years. Receives citizenship approval without engaging in property transactions.
Challenges and Risks
- Property Valuation Disputes: Independent valuation reports may lower the declared price below the threshold.
- Currency Fluctuations: Investments are calculated in USD, but transactions occur in Turkish Lira.
- Legal Formalities: Title deed restrictions, bank receipts, and official certifications must be meticulously documented.
- Fraudulent Promises: Some unlicensed agents mislead investors. Legal assistance from qualified Turkish lawyers is strongly recommended.
Comparative Perspective
- USA (EB-5 Program): Requires USD 800,000–1,050,000 investment with job creation; green card first, then citizenship after 5 years.
- Portugal (Golden Visa): Residence permit through property or funds, citizenship after 5 years.
- Turkey: Direct citizenship in 3–6 months with a minimum USD 400,000 property purchase, making it one of the most competitive programs worldwide.
Conclusion
The legal framework of citizenship by investment (exceptional citizenship) in Turkey provides foreign investors with a clear and efficient pathway to nationality. With a variety of investment options — from real estate to capital funds — Turkey has positioned itself as a leading destination for global investors seeking both security and opportunity. While the process is fast-tracked, it demands careful legal compliance, professional guidance, and accurate documentation. For foreigners, this program is not merely a means of acquiring a passport but a gateway to integrating into Turkey’s economic, cultural, and social life.
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