10 Most Frequently Asked Questions on Turkish Citizenship by Investment (CBI)

10 Most Frequently Asked Questions on Turkish Citizenship by Investment (CBI) (Part 1/2)

1) What is the new Turkish CBI Program?

As per the 106th Presidential Order, foreign nationals who either

1. Buy or pledge to buy real estate(s) worth at least 400,000 USD with a pledge not to sell it for 3 years
2. Invest in a company for at least 500,000 USD
3. Deposit at least 500,000 USD in a Turkish bank with a pledge not to withdraw it for 3 years
4. Employ 50 people in Turkey
5. Buy Turkish government bonds worth at least 500,000 USD with a pledge not to sell them for 3 years

may apply for fast-tracked Turkish Citizenship by Investment.

The investor may apply for Turkish citizenship together with their spouse and all children under 18 years of age.

2) Why Should I Consider Turkish Citizenship by Investment?

The reason that most investors prefer the Turkish CBI program is so that they can conveniently reside, work, open businesses, and invest in Turkey just as freely as the rest of the Turkish citizens. Foreign investors and international business owners often opt for Turkish CBI in order to avoid the hurdles of applying for and extending residence and work permits every year.

Furthermore, Turkish passport holders have visa exemption with 72* countries and can enter another 37* countries by obtaining visas on the border and 10* more countries by obtaining online visas. Turkish citizens who hold “special passports” may enter 111* countries visa-free, including all Schengen-zone countries. These special passports are not diplomatic passports and are given to public sector employees, business people, and lawyers. (*figures may change over time).

However, perhaps the most attractive aspect of the Turkish CBI program is that, unlike most other CBI programs in the world, it does not require any donation to the state or mandate for investing in government-appointed areas and low-value assets. With the Turkish CBI program, the investors keep all of their investments and withdraw in full in 3 years with added profits or interest that accumulate during those years. 

Finally, the paperwork required for the citizenship application is relatively simple and straightforward in comparison to the most other CBI programs in the world.

3) Can I Keep My Other Citizenship?

Turkey allows dual citizenship. If your other nationality allows dual citizenship too, you can keep your other citizenship while applying for Turkish citizenship by investment.

4) Do I need to Live in Turkey or Speak Turkish in Order to Apply for Turkish Citizenship?

If you apply for Turkish citizenship by investment, you must first obtain a residence permit. Obtaining a residence permit requires either buying or renting a property. If you are applying for Turkish citizenship by way of an investment of 400,000 USD into residential real estate, then you may use that property as your address of residence, provided that you do not rent it out. Obtaining a residence permit based on investment may be done via an immigration attorney and does not need you to reside in Turkey.

Finally, you do not need to speak Turkish to apply for Turkish citizenship by investment. Speaking Turkish is required for other types of applications for citizenship.

5) Which Documents do I need in Order to Apply for Turkish Citizenship?

These documents include but are not limited to passport copies, birth certificates, marriage certificate (if any), power of attorney, biometric photos and a “family status certificate”. 

The family status certificate shows the investor’s relation to the rest of the applicants in their current status. Whether you have such kind of a document in your home country or not, please consult with your Turkish immigration attorney to ensure the accuracy of the documents and avoid doing them over.

In order for these documents to be recognizable in Turkey, they need to be stamped with Apostille stamp as per the La Hague Convention.