TURKISH CITIZENSHIP by investment in 2020...
APPLICATION CONDITIONS FOR THE TURKISH CITIZENSHIP by INVESTMENT in 2020
TURKISH CITIZENSHIP BY INVESTMENT IN 2020
We provide full package of services for the Turkish Citizenship by Investment in 2020's Application to our Clients including;
· Welcoming the client ( Client covers main applicant, the spouse and all children under 18
years old. ),
· Transfer of the client from and to hotel and airport with private driver,
· Guide and translator,
· Accompanying the client with site inspection for property purchase,
· Issuance of evaluation report for the property,
· Opening of a bank account,completing investment and
deposit requirements and obtaining relevant official compliance
documents from the Bank and Public Authorities.
· Property selection& negotiation with Developers and Sellers,
· Legal Due Diligence and land registry search,
· Issuance of Turkish Tax Number,
· Sale transaction,
· Application for resident permit,
· Application for Turkish Citizenship,
· Obtaining Turkish ID and Turkish Passport,
· Moreover, we offer post-sale services such as Accounting-Tax
report, Maintenance,Cleaning and Rental, Address Proof, Certificate of
Clearance, Local Driving License, Passport Name Change, Marriage
Certificate, Customs Clearance etc.
1- Visitor package: This package contains transfer - from airport to hotel, accommodation in 5 stars hotel for 4 night for 3 persons - 2 full days of site inspection including 8 construction sites including transportation from hotel to sites with private driver, transportation from hotel to airport, - guide and translator for 4 days,
2- Bank account opening and Tax Number issuance service package:
3- Real Estate Purchase Package: This package includes selection of the property, issuance of the evaluation report from a certified evaluation company, making an examination on the property to ensure this property is free from any lien,mortgage,restrictions etc.,making an examination on the property and on the seller whether the seller agrees to sell the property and show the real price on the title registration document,transferring the money from the Buyer’s account to the Seller’s bank account and submitting the bank receipts to the title registration office,purchasing real estate(s) in the amount of 250.000,00 USD,issuance of the annotation stating that the property shall not be sold for three (3) years after the purchase.
4- Post-sale services Package: This package includes accounting-tax report, tax-pay, maintenance, cleaning and lease of property,collecting rental payments, pick up, address proof, certificate of clearance, local driving license, passport name change, marriage certificate etc.
Advantages of Turkish Passport:
1- No minimum stay requirement. No need to live and stay in Turkey during the application procedure,
2-Turkey is a candidate for European Union (EU ),
3- Turkish Passport holder can apply for a US E1, E2 visa and travel to the US quickly,
4-Low application fees, simple and quick application procedure, easy requirements, fast access to the Turkish Passport just within 4 months.
5-No need to prove the source of funds.
6-No need to come to Turkey for the application and naturalisation.
7-Easy access to United Kingdom via special international treaty between United Kingdom and Turkey, such treaty is called either «Treaty of Ankara» or «Ankara Agreement»
APPLICATION CONDITIONS FOR TURKISH CITIZENSHIP BY INVESTMENT IN 2020.
1. Made of Fixed Capital Investment
Under the Regulation, the foreigners determined by the Ministry of Industry and Technology that have invested into a fixed capital at least in the amount of USD 500.000,00 may exceptionally acquire Turkish citizenship. Fixed capital investment means investment on the non-current assets and is an investment made to produce durable goods that can be used for a long time in the production such as building, machinery. In this context, fixed capital investment might be divided into two groups. In that, while the first group is constituted by construction investments such as construction, facility and restoration, machine and equipment investments establish the second group. Land arrangement, maintenance-repairing, approval works are given as examples of construction investments. The buildings of factory, long-lived production devices, vehicles used on production, ships and airplanes are given as examples of equipment capital investment.
2. Purchase of Immovable Property
The foreigner determined by the Ministry of Environment and Urbanization that has purchased a property in the amount of USD 250.000,00 at least provided that an annotation stating that it will not be sold for 3 years is issued to the title deed may exceptionally acquire Turkish citizenship.
2.1. General Method of Application
The foreigner (“Applicant”) can purchase 1 property or more than 1 property for 250.000,00 USD. In case the applicant purchases more than 1 property, the value of the properties shall be equal to 250.000,00 USD. In order to prove the stated amount, the applicant shall receive an evaluation report from a certified evaluation company. It should be noted that such evaluation company must have certification from Capital Markets Board. In addition to this; the annotation stating that the property will not be sold for 3 years must be added to the title deed simultaneously when receiving the title deed.
2.2. For exceptional acquisition of Turkish citizenship, below mentioned order should be followed:
2.2.1. Selection of the property
2.2.2. Issuance of the evaluation report from a certified evaluation company
2.2.3. Making an examination on the property to find out whether the army permission of such property is ready. If it is not ready, the army permission can be obtained in 2 months period.
2.2.4. Making an examination on the property and on the seller whether the seller agrees to sell the property and show the real price on the title registration document. Please note that most of the sellers in Turkey refrain from showing the real price on the title registration to avoid paying income tax. Thus, it is very important to find a seller who agrees to show the real price on the title registration document.
2.2.5. Transferring the money from the Buyer’s account to the Seller’s bank account and submitting the bank receipts to the title registration office
2.2.6. Purchasing real estate(s) in the amount of 250.000,00 USD
2.2.7. Issuance of the annotation stating that the property shall not be sold for three (3) years after the purchase
2.2.8. Making an application at the Immigration Authority
2.2.9. Making an application to the Istanbul Development Agency
2.2.10. Making an application to the General Directorate of Civil Registration and Nationality with the documents mentioned below;
3. Providing Employment
The foreigners determined by the Ministry of Family, Labor and Social Services that they have provided employment opportunity for at least 50 employees may exceptionally acquire Turkish citizenship. Employment means that the labor power in a country has jobs uninterruptedly to contribute the economy, all the factors constituted the labor power in a country are brought into working life actively, and thus, recovery and economic development is maintained.
4. Investment in the Banks operating in Turkey
Moreover, the foreigners determined by the Banking Regulation and Supervision Agency that have deposited cash at least in the amount of USD 500.000,00 to the banks operating in Turkey on the condition to keep for 3 years may exceptionally acquire Turkish citizenship.
5. Purchase of Government Debt Instruments
Finally, the foreigners determined by Capital Markets Board that have purchased government debt instruments at least in the amount of USD 500.000,00 on the condition to keep for 3 years may exceptionally acquire Turkish citizenship. Government debt instrument is a tool that government issues through certain institutions on the purpose of obtaining additional income and offered to investors. The reliability and the liquidity of them are high and their risk is low. Thus, it is distinguished as the most preferred debt instrument by the investors. In the determination of monetary values stated above, the effective selling rate of the Central Bank of Turkey at the date of determination shall be taken as basis, the foreigner who wants to obtain Turkish citizenship, shall acquire Turkish citizenship with the proposal of the Ministry of Treasury and Finance and the decision of the Council of Ministers.
A file consisting of the documents specified by the application authorities upon the written instructions of the Ministry regarding such foreigners is prepared. The stated documents are below:
As explained above, the Amendment extends the scope of the acquisition of Turkish citizenship; a step is taken for foreign investors in the context of investing in Turkey and consequently acquiring citizenship. Thus, the foreigners who invests into fixed capital at least USD 500.000,00 who purchase the immovable property at least in the amount of USD 250.000,00 provided that an annotation stating that it is not to be sold for three years, who provide employment opportunity for at least 50 employees, who deposit cash at least in the amount of USD 500.000,00 to the banks operating in Turkey providing keeping for 3 years are able to obtain the Turkish citizenship exceptionally by the proposal of the Capital Markets Board and the decision of the Council of Ministers in case of applying with the documents stated in the Code.