Turkey Citizenship by Investment

Turkey surprised many by launching a citizenship by investment program (CBI) in 2017. What surprised even more experts at the time was the relatively expensive amount that was required from foreign investors in comparison to other economic citizenship programs around the world; Turkey’s passport does not offer visa-free to Europe or the U.S. In the last few years, Turkey has suffered from severe economic problems and attracting foreign capital has become a serious objective. Following a lack of enthusiasm due to the initial financial requirements, the Turkish government decided to reduce the investment amounts significantly in 2018 to make the program much more competitive. It seems to have worked, with many investors from the Middle East rushing to buy property in Turkey. The program has been especially popular with Iranian high-net-worth individuals (HNWIs) looking for security in a place well-known to them. The Turkish passport does not provide visa-free travel to the West but offers visa-free travel to many developing and underdeveloped regions. Turkey also started a few years back the process of visa liberalization with the EU, which has taken a serious step back with the political tension of late and the security threat that Turkey has faced on its Eastern border. But it’s not unlikely that in the not-so-distant future the Turkish passport will provide visa-free travel to the EU.

Learn more about the Turkey Citizenship by Investment program

Turkey CBI

The process is expected to take 4 months for those:

❖            who make fixed capital investment of at least US$500,000 or equivalent foreign currency or equivalent amount of Turkish lira, and for whom certificate of conformity is issued by the Ministry of Industry and Technology;

❖            who purchase immovable property of at least US$250,000 or equivalent foreign currency or equivalent amount of Turkish lira and attach annotation at land registration not to sell this property for 3 years and for whom a certificate of conformity is issued by the Ministry of Environment and Urbanization;

❖            who employ at least 50 employees and for whom a certificate of conformity is issued by the Ministry of Family, Labor and Social Services;

❖            who invest at least US$500,000 or equivalent in foreign currency or equivalent amount of Turkish lira and make commitment to hold the amount of deposits for 3 years at banks operating in Turkey and for whom a certificate of conformity is issued by the Banking Regulation and Supervision Agency;

❖            who purchase public borrowing instruments of at least US$500,000 or equivalent foreign currency or equivalent amount of Turkish lira and make a commitment to hold these instruments for 3 years and for whom a certificate of conformity is issued by the Ministry of Treasury and Finance; or

❖            who purchase a real estate investment fund participation share or venture capital investment fund participation amount of at least US$500,000 or equivalent foreign currency or equivalent amount of Turkish lira and make a commitment to hold these participation shares for 3 years and for whom a certificate of conformity is issued by the Capital Market Board.

Slovenia Residence by Investment
March 21, 2019
UAE Residence by Investment
March 21, 2019