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Citizenship by Investment (CBI) in Turkey is a program that allows foreign nationals to obtain Turkish citizenship through significant economic contributions to the country. The program was launched in 2017 and is part of a broader effort to attract foreign investment. Sisli, a bustling district in Istanbul, is a popular area for investors due to its strategic location and vibrant economy. Through the CBI program, eligible applicants can gain citizenship by investing in real estate, creating jobs, or making a deposit in a Turkish bank, among other options.
While the Citizenship by Investment process might seem straightforward, several complexities necessitate the guidance of an experienced attorney:
- Navigating Legal Requirements: Ensuring compliance with the legal stipulations set forth by Turkish authorities.
- Document Preparation: Assisting in the accurate preparation and submission of necessary documentation.
- Property Law Expertise: Guiding investors in purchasing real estate, ensuring all transactions are legitimate.
- Avoiding Common Pitfalls: Identifying potential issues or scams that could hinder the application process.
- Language Barriers: Providing assistance in dealing with official procedures and paperwork offered primarily in Turkish.
Sisli, being part of Istanbul, adheres to Turkish national laws regarding the CBI program. Key aspects to be aware of include:
- Minimum Investment Requirement: The real estate investment threshold is currently set at $400,000.
- Holding Period: Property investments must be held for at least three years to maintain eligibility.
- Background Checks: All applicants undergo rigorous security and background checks.
- Oath of Allegiance: Successful applicants are required to swear an oath of allegiance to Turkey.
- Legal Framework: Investors must comply with Article 12 of the Turkish Citizenship Law 5901, along with regulations stipulated in Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law.
Options include real estate investment, bank deposits, capital investment, and creating jobs for a specified number of Turkish citizens.
The process from initial application to receiving citizenship typically takes around 3 to 6 months.
Yes, spouses and children under 18 can be included in the application at no additional investment cost.
No, there is no requirement to speak or learn Turkish to qualify for citizenship by investment.
Yes, investors are allowed to rent out their property during the required holding period.
No, residence in Turkey is not required to maintain citizenship once it is granted.
There are government processing fees, property appraisal costs, and potential legal fees associated with the application.
Yes, Turkey allows dual nationality, but applicants should verify if their home country permits it.
The investment must be made in full and cannot be financed to meet the citizenship requirement.
Withdrawing an investment before the holding period ends can result in the loss of citizenship status.
The following resources may be helpful for those seeking information or legal assistance:
- Turkish Ministry of Interior, Directorate General of Civil Registration and Nationality
- Turkish Immigration Agency
- Local law firms specializing in immigration and real estate law
- Investment advisory services focusing on the Turkish market
If you need legal assistance with the Citizenship by Investment process, consider the following steps:
- Research and contact reputable law firms in Sisli with experience in CBI applications.
- Schedule consultations to discuss your circumstances and obtain a clear understanding of legal fees.
- Ensure that the legal professional or firm you engage speaks your language, or has access to reliable translation services.
- Verify credentials and seek client reviews to ensure you are working with knowledgeable and trustworthy professionals.
