With a simple real estate investment, you can obtain a second passport with the Turkey Golden Visa.
Introduced in 2016, Turkey began offering a citizenship-by-investment program allowing investors to become Turkish citizens and take advantage of all the country has to offer.
Strategically located, Turkey is an excellent place to be when it comes to business. A meeting point between Europe and Asia, many business owners and investors find incredible opportunities in Turkey.
Not only is Turkey great for business, but it offers a high quality of life too. With beautiful scenery, colorful cities, and incredibly delicious food, Turkey Golden Visa holders are lucky to call Turkey a second home.
The Turkey Golden Visa provides direct citizenship rather than just a residence permit, unlike other golden visa programs. Applicants will receive a Turkish passport at the end of the process.
Becoming a citizen of Turkey also allows for better opportunities worldwide for those who originate from a country with a weaker passport. Turkish citizens can easily apply for a Schengen Visa and are eligible to apply for the E-2 visa in the United States.
Another benefit of the Turkey Golden Visa program is that applicants don’t have to be present in the country to apply for it. The process can be done entirely remotely.
By the end of this article, you’ll know the benefits of obtaining Turkish citizenship through the golden visa program, the eligibility requirements, and how to apply.
What is a Golden Visa?
Before jumping into the details about the Turkey Golden Visa, we should first determine what exactly a golden visa is.
A golden visa is a program that allows foreign nationals to obtain residency and sometimes even citizenship by making a government-approved investment. These investments can be real estate, businesses, bonds, and other government programs.
These visas are excellent for retirees, businesspeople, and wealthy individuals who want to diversify their assets and residencies.
Benefits of the Turkey Golden Visa
There is a long list of benefits to applying for the Turkey Golden Visa. Since this program is a citizenship-by-investment structure, it is one of the most valuable golden visa schemes available right now.
Direct Path to Citizenship
The Turkey Golden Visa leads directly to Turkish citizenship and a second passport for the applicant. Many other golden visa programs only offer a permanent residency with the option to apply for citizenship after many years and tests.
Turkey Golden Visa applicants can bypass the long citizenship process and receive their passports in four to six months.
Having Turkish citizenship gives you all of the rights of a natural-born Turkish national. You’ll have access to the country’s financial and social resources for your well-being and business.
Diversifying your life through multiple passports opens many opportunities and allows you to call at least two countries home.
Dual Citizenship is Allowed
There are 51 countries that do not allow you to hold dual citizenship or two passports.
Fortunately, Turkey does allow for dual citizenship.
So, when you apply for the Turkey Golden Visa program, you can keep citizenship from your country of origin – unless your country of origin does not allow dual citizenship.
Applicants of the Turkey Golden Visa are allowed to include their spouses and dependents. This will allow your family members to also receive Turkish citizenship and passports.
Children must be below 18 years of age.
Applicants may also include their dependable parents on the application.
Profitable Investment Opportunity
Not only does the Turkey Golden Visa offer citizenship by investment, but it provides a lucrative investment opportunity.
The most popular investment applicants make is in real estate. They can then rent the property to tenants or vacationers to earn monthly income.
Another investment option is to open a business and generate local jobs. Therefore, providing the applicant an excellent opportunity to create income while obtaining Turkish citizenship.
Many golden visa programs require a donation to the country, leaving the investor without a financial return on his investment.
E2 Visa Eligibility in the US
Getting a Turkish passport through the Turkey Golden Visa program is an excellent way to bypass nationality restrictions for the E2 visa in the United States.
For example, citizens of India or mainland China are not eligible to apply for an E2 visa. However, Turkish citizens are eligible because of the trade agreements between the US and Turkey.
It’s important to note that India and China do not allow dual citizenship. So, applicants must renounce their original citizenship and hold only Turkish citizenship after applying.
Simplified Schengen Visa Approval
For those who originate from countries that require a visa to visit the Schengen Area, having Turkish citizenship can make it easier to have these visas approved.
Free to Work, Study, and Live in Turkey
After approval of your Turkey Golden Visa investment and application, you and your family members will have the right to work, study, and live in Turkey as citizens.
You’ll have access to free national healthcare, the education system, and other social opportunities.
No Minimum Stay Requirement
If you aren’t ready to relocate to Turkey after receiving your Turkey Golden Visa approval, your citizenship is not in jeopardy.
There is no minimum stay requirement to maintain your Turkish citizenship from the golden visa program. Applicants are not required to spend a certain amount of time in Turkey throughout the year.
No Citizenship or Language Test
Obtaining Turkish citizenship through the Turkey Golden Visa is one of the easiest ways to get a second passport in the world.
Many countries, especially those that offer golden visas for residency, require citizenship applicants to pass a citizenship and language test.
Turkey does not require you to pass a citizenship or language test. You will not have to understand or speak Turkish to get your passport.
Who is Eligible for the Turkey Golden Visa?
Any nationality may apply for the Turkey Golden Visa if they meet the following requirements:
- At least 18 years old
- Never stayed in Turkey illegally
Of course, you’ll also have to make the required investment and pay all taxes and costs for obtaining the Turkey Golden Visa.
Turkey Golden Visa Investment Requirements
There are three investment options to get Turkish citizenship through the golden visa program.
Real Estate Investment
As of 2022, the real estate investment amount required is $400,000.
There are minimal restrictions on the property type and where you may purchase it. Investors can purchase apartments, single-family homes, villas, land, and more.
Applicants may also purchase multiple properties that, in total, amount to $400,000. However, these properties must all be located in the same neighborhood.
*Note: The real estate investment amount was increased from $250,000 to $400,000 in 2022.
Those applicants who are not interested in acquiring real estate or participating in business development can opt for a capital transfer investment.
To qualify for this investmentv you must either deposit $500,000 into a Turkish bank account, in government bonds, or in fund shares.
Applicants must retain this qualifying investment for at least three years.
It’s also recommended to deposit the funds into a Turkish bank account in a stable currency, such as the US dollar or Euro.
Local Job Creation
Entrepreneurs can also take advantage of the Turkey Golden Visa by creating at least 50 local jobs in the country.
Setting up a business in Turkey and employing Turkish citizens can lead you towards obtaining citizenship with the golden visa program. Partaking in a thriving business environment in the area can open many opportunities and create undeniable wealth.
It is recommended to seek legal expertise and advice when it comes to opening a business in Turkey.
How to Apply for the Turkey Golden Visa
It takes just six steps to obtain a Turkish passport through the golden visa program. You also don’t have to physically be in Turkey to apply for the visa.
Step 1: Choose Your Investment
There are three qualifying investment options to be eligible for the Turkey Golden Visa. Before moving forward with your application, you must first choose which investment route to take.
Depending on the investment option you choose, there may be slightly different processes and documents you’ll need to submit.
Step 2: Apply for a Turkish Tax ID
Before you can make your investment, you’ll have to apply for a Turkish tax ID number. This will allow you to open a bank account and be registered with the authorities.
Once you have obtained a tax ID number, you can make your Turkey Golden Visa investment.
Step 3: Apply for a Certificate of Eligibility
Depending on the type of investment you choose to make for the Turkey Golden Visa, you’ll have to apply for a certificate of eligibility before making the investment.
For real estate investments, you must apply through the Turkish Land Registry and Cadaster of the Ministry of Environment and Urbanization.
For capital transfer, you must apply through the:
- Incentive Application and Foreign Capital of the Turkish Ministry of Industry and Technology
- Department of Financial Consumer Relations of the Banking Regulation and Supervision Agency
- Turkish Ministry of Treasury and Finance
For business development and opening a company, you must apply through the General Directorate of International Labor of the Ministry of Family, Labor, and Social Services.
Step 4: Make Your Investment
Now that you have opened a bank account in Turkey, a tax ID, and a certificate of eligibility, you can successfully make your investment.
If you are investing in real estate, you may deposit $400,000 in a Turkish bank account before you acquire the property. This will count towards making your investment.
Step 5: Apply for Residence Permit
After you have made your investment, you can apply for a residence permit. This allows you to live in Turkey while your documents for citizenship are processing.
You will receive your residence permit at the same time you submit your golden visa application.
Step 6: Apply for Turkish Citizenship
After receiving your residence permit, you can submit your citizenship application and documents at the Provincial Directorate of Census and Citizenship.
The documents you’ll need include the following:
- Birth Certificate
- Proof of Residence (utility bills, etc.)
- Biometric-colored passport photos
- Clean criminal record
- Proof of Health Insurance with Coverage in Turkey
- Turkey Tax ID
- Proof of Investment
- Marriage Certificate (if applicable)
- Death or Divorce Certificate (if applicable)
After submitting your documents, it will take three to four months to receive your passport.
Frequently Asked Questions
While applying for the Turkey Golden Visa and obtaining citizenship is straightforward, you may still have some questions about the process and benefits of the program.
How long does it take to get Turkish citizenship?
From the time you submit your documents after making your qualifying investment, it can take three to four months to receive your Turkish passport.
The entire application process can take anywhere from three to six months.
Do I have to physically be in Turkey to get my passport?
No, you do not have to be in Turkey to apply for the Turkey Golden Visa and receive a Turkish passport. This can all be done remotely with the assistance of a legal professional.
How long do I have to retain my investment after receiving citizenship?
You must hold your qualifying investment for the Turkey Golden Visa for at least three years. After which, you may sell your shares or property.
Will I owe taxes in Turkey?
If you stay in Turkey for 183 days out of the year, you will be liable to pay taxes in Turkey.
If you have established a business in Turkey, your company will be subject to corporate taxes.
How strong is the Turkish passport?
Holders of a Turkish passport can travel to 118 countries visa-free or visa-on-arrival.
Many people originating from countries such as India, Pakistan, and China choose to apply for the Turkey Golden Visa because they can get a stronger passport. They can also apply for visas in the United States and Schengen easier with a Turkey passport.
Should I work with a lawyer to apply for the Turkey Golden Visa?
It’s always a good idea to work with a legal professional when applying for visas, making foreign investments, or relocating abroad.
They are able to guide you in the right direction and have expert knowledge of the process and how the country works. You’ll save yourself expensive and time-consuming mistakes when you allow a lawyer to submit your application and assist you in your investments.
While it isn’t necessary, it definitely is much easier and less overwhelming to work with a lawyer to apply for the Turkey Golden Visa.
Get Assistance with Your Turkey Golden Visa Application
Are you ready to diversify and invest in a Turkish lifestyle?
When it comes to obtaining a golden visa, it’s always a good idea to work with a professional immigration lawyer. Since they are familiar with the process, investment rules, and how the country operates, they can get your visa faster and conflict-free.
Nomads Embassy is here to help you get started on your Turkey Golden Visa application immediately!
We have hand-selected immigration lawyer partners in Turkey waiting to get you started on your investment and claim citizenship in the gorgeous country.