Türkiye is a country that offers various avenues for foreign investors to obtain Turkish citizenship. Among these avenues is the exceptional method of obtaining Turkish citizenship through a Presidential decree for foreign nationals who make investments of a certain amount, provide employment, purchase government bonds, make bank deposits, or buy real estate in Türkiye. This article aims to provide information about the legal basis, application requirements, and advantages of this method.
How to Get Turkish Citizenship through Investment?
The method of acquiring Turkish citizenship through investment is regulated by the Turkish Citizenship Law and relevant regulations. According to Article 12 of the Turkish Citizenship Law, individuals listed below can obtain Turkish citizenship by Presidential decree, provided they do not pose a threat to national security and public order:
· Individuals who bring industrial facilities to Türkiye or are considered to provide exceptional service in scientific, technological, economic, social, sports, cultural, or artistic fields.
· Foreigners who obtain short-term residence permits under Article 31/1 (j) of the Law on Foreigners and International Protection, holders of Turquoise Cards, and their foreign spouses and dependent foreign children.
This article will focus on foreign investors who invest in Türkiye by obtaining short-term residence permits under Article 31/1 (j) of the Law on Foreigners and International Protection and discuss how and when they can acquire citizenship.
Requirements for Acquiring Turkish Citizenship through Investment
Yatırım yoluyla Türk vatandaşlığı kazanmak için, yabancı uyruklu kişilerin aşağıdaki şartları yerine getirmeleri gerekmektedir:
· Make investments of a certain amount in Türkiye.
· Obtain an eligibility certificate from the relevant ministries to prove their investments. The eligibility certificate is a document demonstrating that the investment meets the conditions for acquiring Turkish citizenship. · Obtain a short-term residence permit.
· Apply for Turkish citizenship.
Investment Options For Turkish Citizenship by Investment
Foreign nationals can apply for Turkish citizenship by choosing one of the following investment options:
· Make a fixed capital investment of at least 500,000 US dollars or its equivalent in foreign currency or Turkish lira. This investment must be determined by the Ministry of Industry and Technology.
· Purchase immovable property worth at least 400,000 US dollars or its equivalent in foreign currency or Turkish lira. This property must be determined by the Ministry of Environment and Urbanization by placing a "3-year sales restriction" on the title deeds.
· Create employment for at least 50 people by investing in Türkiye. This employment must be determined by the Ministry of Family, Labor, and Social Services.
· Deposit at least 500,000 US dollars or its equivalent in foreign currency or Turkish lira with banks operating in Türkiye with a condition to keep the deposit for three years. This deposit must be determined by the Banking Regulation and Supervision Agency.
· Invest in government borrowing instruments for at least three years with at least 500,000 US dollars or its equivalent in foreign currency or Turkish lira. This investment must be determined by the Ministry of Treasury and Finance.
Documents Required For a Short-Term Residence Permit
Obtain a short-term residence permit. Foreign nationals who invest in Türkiye can apply for a short-term residence permit under Article 31/1 (j) of the Law on Foreigners and International Protection. A short-term residence permit allows foreign nationals to stay in Türkiye for a period of 6 months to 2 years. To obtain a short-term residence permit, foreign nationals must submit the following documents:
· Passport or equivalent document · Four biometric photographs
· Eligibility certificate obtained from the relevant ministry according to the nature of the investment
· Health insurance
· Document indicating the residence address
· Residence permit fee
Documents Required for Applying for Turkish Citizenship
· Passport or equivalent document
· Birth certificate or document showing the date of birth
· Certificate of marital status
· Short-term residence permit
· Eligibility certificate
· Health report
· Criminal record check
· Four biometric photographs
· Document indicating proficiency in Turkish language
Advantages of Acquiring Turkish Citizenship through Investment
Foreign investors who acquire Turkish citizenship through investment can benefit from various rights and opportunities in Türkiye. Turkish citizenship provides the following advantages to foreign investors:
· Enjoying the fundamental rights such as traveling freely in Türkiye, working without the need for a work permit, enrolling in educational institutions, accessing healthcare services, being part of the social security system, voting, and being eligible for candidacy.
· Traveling to many countries visa-free or obtaining visas easily under bilateral agreements and international treaties signed by Türkiye. Turkish citizens can enter more than 100 countries visa-free or with an electronic visa.
· Having ownership rights such as real estate, vehicles, companies, bank accounts, etc., in Türkiye. Turkish citizens are exempt from certain restrictions and taxes applied to foreign nationals in Türkiye.
· Reuniting with family members in Türkiye. Foreign investors who acquire Turkish citizenship can apply for Turkish citizenship for their spouses and children under the age of 18, allowing them to live and work in Türkiye.
· Having dual citizenship in Türkiye. Türkiye recognizes and does not restrict dual citizenship. Foreign investors who acquire Turkish citizenship can retain their citizenship of origin. However, some countries do not recognize or restrict dual citizenship and may require foreign investors to renounce their citizenship of origin. In such cases, foreign investors are advised to examine the legislation of their countries and complete the necessary procedures.
Conclusion
Türkiye offers foreign investors the opportunity to acquire Turkish citizenship through investment, providing them with numerous rights and opportunities in Türkiye. However, this method also imposes legal, political, social, and economic responsibilities on foreign investors in Türkiye. Therefore, it is recommended that foreign investors carefully evaluate the advantages and disadvantages, conduct necessary research, and seek professional legal advice before opting for this method.
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