Turkish citizenship by property investment comes with a lot of benefits that you shouldn’t miss out on. Not only is the process simple, but it also gives the opportunity of making a lot of profits from your investment. After you purchase the property and the 3-year stipulation elapses, you can apply for citizenship under this program from any location across the world. Residency is not mandatory, just like the knowledge of the Turkish language. The real estate industry in Turkey favors foreigners and gives them great opportunities, thanks to the innovative projects the industry continues to have.
Advantages of Getting Turkey Citizenship by Property Investment
Turkey citizenship by property investment doesn’t require you first to learn the local language. If you don’t understand Turkish, a sworn translation will be used during the process.
Citizenship also gives you access to more than 100 countries without a visa. This means it will be easier for you to seek other business opportunities in other countries as well. You’ll not be forced to give up your nationality either. You can keep your citizenship in your home country and still be a citizen of Turkey.
The fast and straightforward process of gaining Turkish citizenship by property investment is another advantage you’ll enjoy. After 3 years of investing in the country, you’ll only wait three weeks before getting your second passport. Citizenship also covers your entire family, as long as your children are under 18 years of age. However, if you’re caring for a disabled child, they also become Turkey residents even if they are older.
Investing in Turkey also allows you to work with international banks. You don’t have to buy a real estate property. You can deposit $500,000 in a Turkey-based bank and wait for the three years to elapse. You can do transactions during that time, so long as your balance doesn’t go lower than the half a million mark.
With Turkey citizenship by property investment, there is not a wealth declaration rule. You can invest in any other country, and you won’t be obligated to declare your wealth when you apply for citizenship. Additionally, you’ll be free to pull out your investment after the three years, and no questions will be asked. With the 5% capital growth experienced in the country annually, you still stand to gain a lot even if you decide to pull out after the three years.
Requirements for getting the residency
Before applying, you should get an application form, title deed of your property, translation of your whole family’s passport (should be notarized), and appraisal report for your property. You’ll also need a consent letter from your spouse and children, a marriage certificate, birth certificates, pictures of the entire family, and the registry book for your family. Please make sure the consent letter is notarized before submitting it. You will also be required to prove that you paid for the property, and you can do that by submitting receipts of the sale. The bank must sign your receipt and the seller’s receipt.
Turkey is strategically located at the intersection of different countries and is one of the world’s best-developing countries. It has undergone a lot of transformation in recent years and is expected to continue growing economically, making it a great place to invest in.