Turkish Law Firm

 Application Conditions for the Turkish Citizenship by investment in 2020...

Become a Turkish Citizen just by $ 250.000 Investment only within 4 months with our Turkish Immigration Law Attorneys. 

 

 

 FREQUENTLY ASKED QUESTIONS ABOUT TURKISH CITIZENSHIP BY INVESTMENT IN 2020

1. If I have previously purchased a property worth USD 1.000.000, do I still have to purchase another property worth USD 250.000?

In case the property in the amount of 1.000.000 USD is purchased before the new legislation which is September 19, 2018, the applicant may place the aforementioned annotation (the restriction to not to sell the property for 3 years) and directly apply for the citizenship. In other words; the applicant does not have to purchase another property in case he owns a property worth 1.000.000 USD.

2. Is one Title Deed for multiple families is possible?

For example; if there are two families and the value of one property is 500.000 USD, both families may apply depending on such one property as long as both of the names of the main applicants are written on the title deed of such property.

3. Can I buy more than one property and apply for citizenship?

Yes, you can buy more than one property provided that their total value is USD 250.000.

 

4.  Do I have to make the transfer at the title registration office?

 

You can purchase the property by transferring the title at the title registration office or you can make a purchase contract (promise to sell) at the notary and not make the title transfer as long as the property is registered at the title registration office.

However, please be noted that we advise our clients to purchase the property by transferring the title at the title registration office in order to avoid possible future dispute.

5.  Can Syrians not living in Turkey apply for citizenship?

Yes, they can apply for Turkish citizenship in 2020. However they cannot apply via purchasing property since Syrians are not allowed to purchase property in Turkey. But they can apply by depositing USD 500.000 or buying governmental bonds in the amount of USD 500.000 or any other methods stated in this memorandum.

 

6.  Can Syrians that came to Turkey under “Temporary Acceptance” apply for citizenship?

Yes, they can also apply for citizenship but they cannot use the method of purchasing property depending on the aforementioned reason.

7.  Can Syrians residing in Turkey and holding a second nationality of other countries apply for citizenship?

Yes, they can apply depending on their second nationality and if they do they can use the method of purchasing property since they will not be regarded as Syrians once they apply on their second nationality.

8.  How much are the translation and notarization charges?

Depending on the number of the family members, the charges are around TRY 2.000 – 5.000 for a family of four.

9.  Does my application cover my family as well?

Yes, your wife and children under 18 or your dependent children over 18 can apply with the main applicant for the Turkish Citizenship by investment in 2020.

If you desire, the family of the main applicant can apply after the main applicant becomes a Turkish citizen in 2020.

10.  Can the main applicant apply for children from previous marriage of the spouse? 

The children of the spouse under 18 may be included to the main applicant’s application process provided that the consent of the biological parent is received.

 

11.  Can the main applicant apply for his handicapped children above 18?

Yes, since handicapped children over 18 are considered as dependent children to parents, they are also included to the main applicant’s application.

12.  If my children are under 18 when making the application and they become over 18 when the application is finalized, can they still apply under the main applicant’s file?

Yes, they can apply under the main applicant’s file.

13.  Is there a fast track option when making the application in 2020?

Unfortunately there is no fast track option as of now. But we will do anything to expedite the process.

14.  I have previously obtained a residence permit. Can I use such permit when making the application?

Since the law is new, we will try to use your previous residence permit, however the immigration authority may require such permit to be retaken.

15.  Do I have to come to Turkey for the Turkish Citizenship application process in 2020 or can you handle everything by power of attorney?

We can handle almost everything by power of attorney. The main applicant has to come to Turkey only once.

16.  If I choose the method depositing USD 500.000 to the bank, do I have to deposit it after the promulgation of the new law which is September 19, 2018?

Yes, you have to deposit such amount to the bank at a date after September 19, 2018. However if you have deposited such amount before September 19, 2018, you can withdraw your money and deposit it again. But in this case, the Banking Regulation and Supervision Agency (“BRSA”) has to give their consent to such transaction.

17.  Can I have interest on top of my money for the following 3 years since I will not be able to move such money for 3 years?

Yes, you can have interest or you can have contribution to your money for 3 years.

18.  Can the lawyer act on my behalf and purchase the property in Turkey for the Turkish Citizenship by Investment in 2020?

Yes, we can act on your behalf and purchase the property depending on the power of attorney.

19.  Can I vote after I become a Turkish citizen?

Yes, you can vote and you can use any other right like other Turkish citizens.

20.  After I become Turkish citizen, can I purchase property without any restriction?

Yes, you can purchase property without any restriction.

 

21.  I have previously applied for Turkish citizenship and my application is denied. Can I apply again depending on the new law?

Yes, if you meet the requirements stated above, you can apply again.

22.  How long does the application process for the Turkish Citizenship by investment in 2020 take?

It takes approximately 6 months however due to number of application files; such duration may be shortened or extended.

23.  What mechanism can I use that I can negotiate with developers to obtain a refund of the property (undo the transaction) if the Citizenship is rejected? What would it take?

 

Unfortunately there is no way to negotiate with the developers however you may conclude an agreement with the developer stating that the money shall be refunded in case the citizenship application is denied. However it is not certain that every developer will agree with that.

 

24.  Can the property be off-plan? What are the criteria if I select such property? Are there any restrictions?

Yes, the property can be off-plan as long as the purchasing price of the property –minimum USD 250.000- is written on the title deed. Please note that; there is no restriction and please also note that the applicant may even purchase land that is considered as “field” and the applicant may apply for citizenship accordingly.

25.  Are all application fees included in your fees? What are the Government charges for Due Diligence and/or processing fees?

No, the fee is only for services to be rendered. In other words, our fee is excluded from any charge, fee etc.

 

As previously explained, the following order is advised to be followed and please see the fee and charge estimation underlined;

  •    The property is selected by the client. Such property value shall be over USD 250.000.

  •    The applicant should check whether there is army permission on the property. If not, receiving the army          permission takes around 2 months.

  • An expert report is issued by a certified valuation company. (optional) Even though this is optional, the charge of such expert fee is around 1.000 – 2.000 TRY

  • The property transfer is completed at the title registry with the condition that the amount of USD 250.000 is written in the deed. There is 4% title deed transfer fee which calculated over the full purchase price.

  • Once the transfer is completed, the application process begins. Since the law is very recent, the application fees are not precisely determined however it will not exceed 5.000 TRY

26.  Is it a way – as it happens in Cyprus – that I do not complete on the purchase of the property until I obtain the citizenship and the developer keeps the funds in Escrow until I obtain the citizenship?

Please note that; there is no escrow system in Turkish law. Therefore, the applicant and/or the developer cannot keep the funds in an escrow account. Please be noted that; the title deed transfer shall be completed first in order to apply for citizenship.

27.  Where the Criminal Record should be obtained from (country of citizenship or country of residency?)

 

It should be obtained from the country of citizenship.

 

28.  Are there specific regulations for citizens of Palestinian State on acquisition of Turkish citizenship?

 

Regulation of 06.03.2019 and 1058120 number entered into force. Therefore, the identity card or passport (refugee travel document etc.) issued by other countries except for the identity card and passport issued by their own countries is also accepted in this scope, if it is presented with a residence permit certificate has issued by the Directorate General of Migration Management, which is specific to the citizens of Palestinian State.

Also, for stateless persons (Amendment to the Law No. 1058120 dated 06.03.2019) A stateless person identity document issued by governors will be sought in accordance with Article 50/2 of the Law on Foreigners and International Protection No. 6458.

29.  Which bank do you suggest that I should work with?

The client is free to choose any bank s/he desires.

30. I do not have a passport but I have a travel document, can I apply with travel document only?

Yes, you can apply for the Turkish Citizenship by Investment only with travel document but you cannot use property purchase option but only bank deposit option in 2020.

31. In case the previous owner of the property is a non-Turkish person, should I still purchase such property for the Turkish Citizenship by Investment in 2020?

 

In the event that the previous owner of the property is a non-Turkish person, it is important to have a look at the date of the previous sale. Nevertheless, in case previous owner has purchased such property before 2017, there is no obstacle in your sales transaction.

However, in case the previous owner has purchased such property after 2017, we advise you not to purchase such property since your sales transaction may not be accepted as an investment and your citizenship application might be denied due to breach of the related law.

32. Is it easier for a Turkish citizen to immigrate to USA or UK in 2020 ?

Obtaining Turkish citizenship opens the door for many of these individuals to apply for both immigrant and non-immigrant US visas. In particular, Turkey is an E-2 treaty country and Turkish citizens can obtain a US investor visa for an initial period of 5 years. In addition, Turkish citizens can apply directly for a US green card (permanent residency) if the investments are bigger than $900,000 for rural areas and $1,800,000 for all others. Other business visas such as EB-1, O-1, and L-1 are also available.

There is also a special international treaty between the United Kingdom and Turkey, such treaty is called «Ankara Agreement»  and specific visa category called ( "Turkish Businessperson visa")  opening the door for the Turkish Citizens to start a new business in the UK, come to the UK to help run an established business,  apply to settle in the UK permanently and bring family (‘dependants’) with you.

33. If I choose the deposit way to acquire Turkish citizenship, can I save money in different banks, for example, in two different banks and in total $500,000?

 

No, USD 500.000 should be deposited only in one Turkish Local Bank.

 

34. If the deposit is in total $500,000, can I save China Yuan, Japan Yen, or Euro, which are equivalent to $500,000?

 

The deposits could be other currencies such as Yuan, Turkish Lira, Euro etc. if the value of the money is equal to USD 500,000. However, because of currency fluctuations, we recommend our clients to put the deposit in USD in order to eliminate the risk of currency fluctuations. 

35. Can I save USD and other countries' currencies in a total of $500,000 at the same time or I just can save money with the single currency?

Yes, you can if the value of the money is equal to USD 500,000.

 

36. In the case of a deposit way to acquire Turkish citizenship, within three years' limitation, can I withdraw money and at the same time saving the same amount of USD or other countries' currencies to offset the amount I withdraw?

 

No, you can't.

 

37. Besides the deposit in total $500,000 to acquire citizenship, is there any other possible financial products, such as local insurance, stock or bond indexes that I can invest and acquire Turkish citizenship?

You can also buy governmental bonds in the amount of USD 500.000 for the citizenship purpose.

38. What is the interest rate of bank deposit per year?

Interest rate for USD is between % 1,80 and % 2,20 per year after tax deduction but it changes all the time. For the up-to-date information please contact us.

39. Turkish passport should be approved by the Turkish President, and no case has been approved? Am I correct? 

Yes, it is approved by the Turkish Presidency at the last stage of application and all the cases are generally approved by the Turkish Presidency at this stage. Exceptional Circumstances are always reserved.

 

40. If there is the failure of the application procedure so that I cannot acquire my Turkish passport, will the attorney fee be refunded?

If the application is rejected due to the attorney's negligence, the legal fee shall be fully refunded.

41. Application process takes approximately 4-5 months. When does the three-years limitation start to count?  Does it start to count when I complete the deposit in the bank or are there any additional requirements? 

Three-years limitation period starts to count from the date of application for the Turkish Citizenship. 

 

42. At the end of 3 years limitation period, do I need to go to Turkey in person for transferring money to foreign countries? Or can you represent me to do the transaction?

We can represent you and handle whole procedure with Power of Attorney, so you don't need to come to Turkey to transfer money to foreign countries. After three years limitation, you can also transfer your money to your foreign account by using internet banking service without any restriction. 

43. Does Turkey implement foreign exchange control or does Turkey have any limitation on remitting money to foreign counties?

 

There is no any limitation on remitting money to foreign countries or foreign exchange control if the transaction is in accordance with the Law, Turkish Banking Law and Turkish Money Laundering Regulations and other relevant legislations.

44. After three-year limitation, if we want to transfer our deposit to foreign countries, do we need to prepare any documents, pay tax for this transferring and pay tax because of the interests we earn from the bank?

 

You don't need to prepare any document or pay the tax for the transfer of your money. You only need to pay tax for the obtained interest which is %18 and deducted automatically by the bank at the obtained interest date. For the up-to-date information please contact us.

45. Do we need to pay tax to the Turkish Government because of our foreign income and pay tax for the obtained interests from Turkish banks?

 

You don't need to pay tax to the Turkish Government because of your foreign income. You only need to pay tax for the obtained interests from your deposits in Turkish Bank.

 

46. What is the governmental bond’s interest rate? Can we use our 500,000 USD deposit to buy governmental bond later?

Annual interest rate is %9,5 and interest income is subject to withholding tax which is %10 as the date of today. No, you cannot change your investment method within 3 years. Only after 3 years you can use your deposit and buy government bond by using this amount. Since interest rates change all the time please contact us for the up-to-date information.

 

 

47. Can we deposit our money in Turkish lira and how much is its interest rate after tax? 

 

Yes. Interest rates vary from bank to bank and from time to time.

For example, for now for the Turkish Lira the highest annual interest rate is between % 8 and % 10 but you can try to agree on a specific interest rate with the bank. Interest Income is subject to withholding tax which is %10.

 

Since interest rates change all the time please contact us for the up-to-date information.

48. Does Turkish government levy inheritance tax?

Yes, inheritance tax exists according to Turkish Law.

 

 

49. After we deposit 500,000 USD in the bank, when will we start to apply passport?

 

After Bank Deposit we will apply to the Turkish Banking Regulation and Supervision Agency immediately to receive letter of conformity for your investment. After obtaining this document we will start citizenship application accordingly.

 

50. Is there any possibility that we cannot receive our passport and citizenship even if we deposit our money in the bank? 

 

No, you will receive your passport and citizenship. It is guaranteed by the government and we have succeeded in all our applications which is more than 100. 

If all the documents provided on time and properly by the client, and there is no problem after personal security investigation, then the application never fails 

 

51. Will Turkish government ask me to pay tax for my foreign income?

 

No, Turkish government will never ask you to pay tax on your foreign income.

 

52. Does the citizenship application process take 4-5 months

 

If all the application documents provided properly by the Client on time, it takes approximately between 4-5 months depending on the workload of the Government Institutions and Presidency.

Acarlar Mahallesi,Martı Sokak

No: 295 Beykoz/  İstanbul

土耳其投资入籍项目
WiklundKurucuk Istanbul Immigration Law

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