Turkey’s citizenship by investment program (CBI) is one of the most exciting on the market. Straddling Europe and Asia, Turkey’s central geographic location as well as its economic and culturally vibrancy make it a popular destination for business and tourism alike. Today’s blog will focus on how to get approved by a Turkish citizenship by investment program. In addition, it will answer questions such as “Who can apply for Turkish citizenship” and “Is Turkish citizenship worth it?” Read on to discover the advantages of economic citizenship from Turkey and how you might apply.
Who can apply for Turkish citizenship?
In order to discover the advantage for Turkey citizenship and be considered eligible for the country’s citizenship by investment program, you will need to meet various application requirements. The main Turkish citizenship requirements pertain to the age and character of the applicant. This means that applicants who have a criminal past as well as those who are under the age of 18 are ineligible for Turkish citizenship.
Turkish citizenship benefits
Is Turkish citizenship worth it? Turkish citizenship confers various benefits on the successful applicant. Turkish passport power is a key advantage for Turkey citizenship: Turkish passport power reflects the scores of visa-free countries accessible with a Turkish passport: an elite group of global states such as Singapore, Japan, and South Korea. A Turkish passport therefore allows you to enter these countries as well as over 100 other destinations around the world without a visa (or with simply an easily obtainable electronic visa). Turkish citizens are also eligible for the US-E2 visa scheme, which enables them to move to America for the purpose of setting up a business.
The benefits of Turkish citizenship for the student children (dependents) of the original applicant include the ability to attend Turkish educational institutions for free. In this sense, Turkish citizenship is for the student child of the original applicant, as well as for his or her spouse. The benefits of Turkish citizenship can therefore be passed down through the family: all children of the original applicant (provided they are fewer than 18 years old) become Turkish citizens without having to petition for citizenship. Children who are over the age of 18, but who are physically disabled or otherwise in need of parental support may also achieve citizenship by extension of the original applicant. All family members, in addition to the original applicant, may also enjoy free healthcare.
Despite the many advantages inherent to living in Turkey, recipients of economic citizenship do not need to reside in the country in order to retain their Turkish citizenship benefits. Therefore, you may become a citizen of Turkey but choose to remain a resident of another country—the decision is yours to make. Should you decide not to reside in Turkey, you will still get to keep your Turkish passport and experience the various other benefits of your economic citizenship.
How to get a Turkish citizenship by investment program
Applicants for the Turkish CBI program must indicate on their Turkish citizenship application form which of the three available investment schemes they wish to pursue. Applicants may choose to make a monetary donation via government investment, at a minimum cost of $500,000 (terms and conditions apply). Other applicants may choose to instead invest in Turkish real estate. A $400,000 investment in real estate in the country (the real estate may include one property or more, provided that the cumulative worth of all property is at least $400,000) can be an avenue to Turkish citizenship. Applicants will need to hold their property for a minimum of three years in order for the real estate to qualify for the Turkish CBI program.
The final option, the jobs creation program, confers citizenship upon successful applicants who demonstrate their intention and ability to start a company in the country that results in a minimum of 50 jobs for Turkish citizens.
The final advantage for St Lucia citizenship is a superficial yet compelling one. As anyone who has had the pleasure of visiting the island—or simply seen photos—will understand, St Lucia is one of the most beautiful countries in the Caribbean—if not the world. Achieving economic citizenship on St Lucia entitles you to reside on the island. While there are no residence requirements to St Lucian citizenship (meaning you don’t have to live there in order to keep your citizenship and passport) the opportunity to live full-time in such a beautiful and tranquil place is one which non-citizens can only dream of, and is a key advantage of the program.
How to apply
The application process for Turkish citizenship involves submitting numerous forms, including the basic Turkish citizenship application form, which is where the applicant will indicate his or her selected vehicle for investment (government donation, real estate, jobs creation). Second Passport will work with you to assemble your application and help you meet the various Turkish citizenship requirements. The Turkish government will perform due diligence on your application and also perform a background check in order to determine that you have enough money to afford all of your economic citizenship costs as well as determine that the source of your funds is legitimate.
The Turkish citizenship processing time is typically four to six months. The amount of time your application takes will depend on various factors. At the end of the Turkish citizenship processing time, the applicant will be granted a Turkish passport.
If you are considering applying for economic citizenship from Turkey, or would simply like more information about the program, please contact us here.