Exploring the Benefits and Investment Options of Turkish Citizenship Program
Turkey is a country that has been experiencing rapid economic growth in recent years, making it an attractive destination for foreign investors. In 2018, the Turkish government introduced the Turkish Citizenship by Investment program to further boost foreign investment and attract high-net-worth individuals to the country. This program allows foreign investors to obtain Turkish citizenship through investment in the Turkish economy. In this article, we will explore the details of the Turkish Citizenship by Investment program, including eligibility requirements, investment options, and benefits.
To be eligible for the Turkish Citizenship by Investment program, investors must meet the following requirements:
- Be of legal age (18 years or older)
- Have no criminal record
- Have a minimum investment amount of $400,000
- Be willing to hold the investment for at least three years
There are several investment options available for foreign investors to obtain Turkish citizenship. These include:
Real Estate Investment: Investors can purchase real estate in Turkey with a minimum investment of $400,000. The purchased property must be held for at least three years.
Capital Investment: Investors can make a capital investment of at least $500,000 in Turkish banks or other Turkish financial institutions. This investment must also be held for at least three years.
Government Bonds Investment: Investors can purchase Turkish government bonds with a minimum investment of $500,000. These bonds must also be held for at least three years.
Business Investment: Investors can establish a new business in Turkey or invest in an existing one with a minimum investment of $500,000. The business must create jobs for at least 50 Turkish citizens.
Benefits of Turkish Citizenship by Investment
Visa-free travel: Turkish citizens have visa-free access to 110 countries, including Japan, South Korea, Singapore, and many European countries. This allows investors to travel freely without the need for a visa or additional travel documents.
Residency: Investors and their families can obtain residency in Turkey during the application process, which can be beneficial for those who wish to relocate or establish a business in the country.
Education: Turkish citizens have access to free public education, including primary, secondary, and tertiary education. This can be beneficial for investors with children who wish to pursue their education in Turkey.
Healthcare: Turkish citizens have access to free public healthcare, including hospitals, clinics, and emergency services. This can provide peace of mind for investors and their families.
Taxation: Turkish citizens are subject to a flat tax rate of 20% on their worldwide income. This can be beneficial for investors who wish to take advantage of Turkey’s favorable tax system.
Strategic location: Turkey is located at the crossroads of Europe, Asia, and the Middle East, making it a strategic location for investors looking to do business in these regions.
Is there more?
In addition to the benefits outlined above, there are other advantages to obtaining Turkish citizenship through investment. One of the key benefits is the ease and speed of the application process. The Turkish government has streamlined the application process to make it as efficient as possible, with an average processing time of just six months.
Another advantage of the Turkish Citizenship by Investment program is the low cost of living in Turkey. Compared to other European countries, Turkey has a lower cost of living, which can be attractive to investors looking to save money on expenses such as housing, transportation, and food.
Furthermore, Turkey has a vibrant and diverse culture, with a rich history and many attractions for tourists. The country has numerous UNESCO World Heritage sites, including the historic city of Istanbul, which is located at the intersection of Europe and Asia. This makes Turkey an ideal location for investors who are interested in history, culture, and travel.
Finally, Turkey has a stable political and economic environment, which provides a safe and secure environment for investors. The country has a strong and growing economy, with a large and well-educated workforce. This makes it an ideal location for businesses looking to expand into new markets.
The Turkish Citizenship by Investment program offers an attractive option for foreign investors looking to obtain a second citizenship. With a minimum investment of $400,000, investors can obtain Turkish citizenship, which comes with a range of benefits including visa-free travel, residency, access to education and healthcare, favorable tax treatment, and a strategic location. By understanding the eligibility requirements, investment options, and benefits of the Turkish Citizenship by Investment program, investors can make an informed decision and take advantage of the many opportunities that Turkey has to offer.