About Residence by Investment Law in Turkey
The Residence by Investment program in Turkey, commonly known as the Turkish Citizenship by Investment Program, allows foreign nationals to acquire Turkish citizenship through specified financial contributions. Initiated in 2016, this program is designed to encourage overseas investments and stimulate the Turkish economy. Participants can invest in real estate, create jobs, or contribute capital. The program is seen as an efficient pathway to gain Turkish citizenship due to its relatively low entry cost in comparison to similar programs offered by other countries.
Why You May Need a Lawyer
Navigating the nuances of the Residence by Investment program in Turkey can be challenging without legal assistance. Here are some common situations where legal help might be necessary:
- Understanding eligibility requirements and suitable investment options.
- Conducting due diligence on real estate transactions.
- Ensuring compliance with Turkish immigration laws and regulations.
- Handling legal documentation and application submission.
- Resolving potential disputes or legal issues that may arise during the investment process.
Local Laws Overview
When participating in the Residence by Investment program in Turkey, some key local laws and regulations must be considered:
- The minimum investment threshold for property acquisition is $400,000, and the property must be held for at least three years.
- Investors may also opt to deposit at least $500,000 into a Turkish bank, make a fixed-capital contribution, or create jobs for at least 50 Turkish nationals.
- Investments must be verified by the relevant Turkish authorities, such as the Ministry of Environment and Urbanization.
- Processes and requirements are subject to frequent changes, necessitating updates on the latest regulations.
Frequently Asked Questions
What is the minimum requirement for real estate investment?
The minimum investment in real estate is $400,000, and the property must be retained for at least three years.
Can my family get citizenship if I invest?
Yes, your spouse and children under 18 years old can apply for citizenship with you.
How long does the application process take?
The process generally takes between three to six months, depending on the completeness and accuracy of the submitted documents.
Are there residency requirements once I acquire citizenship?
There are no residency requirements tied to the citizenship obtained through investment.
Is Turkish citizenship acquired through investment permanent?
Yes, Turkish citizenship is permanent and can be passed down to future generations.
What documents are required for the application?
Documents typically include a valid passport, birth certificate, marriage certificate (if applicable), proof of investment, and other legal documents as required by Turkish authorities.
Do I need to speak Turkish to apply?
No, proficiency in Turkish is not required for the application process.
Can I rent out the property I buy for the investment?
Yes, investors are allowed to rent out their purchased property.
Can I sell the property after obtaining citizenship?
Yes, but only after the mandatory three-year holding period.
What happens if laws change after I've applied?
Legal agreements at the time of your application submission are typically honored, but it is advisable to consult legal assistance to navigate any changes.
Additional Resources
For more information on Residence by Investment in Turkey, consider contacting the following bodies:
- The Republic of Turkey Ministry of Foreign Affairs
- The Directorate General of Migration Management
- Authorized legal firms specializing in immigration law
- Real estate agencies with experience in international investments
Next Steps
If legal assistance is needed for Residence by Investment in Turkey, consider taking the following steps:
- Research and contact legal professionals specializing in Turkish immigration and investment law.
- Prepare all necessary documents in advance to facilitate a faster consultation process.
- Schedule consultations with multiple law firms to compare services and expertise.
- Ensure any legal adviser engaged is licensed and has verifiable experience in Turkish Residence by Investment cases.
Lawzana helps you find the best lawyers and law firms in Turkey through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Residence by Investment, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
Get a quote from top-rated law firms in Turkey - quickly, securely, and without unnecessary hassle.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please
contact us, and we will review and update it where appropriate.
