If you have conducted any research into obtaining a second passport, you may be aware of the growing interest in Turkey’s Citizenship by Investment Program (CBI). Today’s blog will answer the question ““why turkey?” in the context of economic citizenship. There are numerous CBI programs on the market—what is so special about Turkey’s? The Turkish passport ranking (which reflects the number of Turkish passport visa-free countries holders may access) is one key benefit. However, as this blog proves, there are also travel and lifestyle advantages to achieving economic citizenship from Turkey. Read on to discover the advantages, as well as for the answer to frequently asked questions (FAQs), such as “What are the ways to obtain Turkish citizenship?” and, “Are there different types of Turkish passport?” All of this information, and more, is available below.
Turkish passport benefits
This section will highlight what is arguably the main advantage of Turkey citizenship— the Turkish passport ranking. Turkish passport visa-free countries include most South American countries as well as destinations throughout Asia (South Korea, Japan, Hong Kong, Singapore), the Middle East (Jordan), Africa (South Africa)—100 states in all. And while Turkish passport holders do not yet enjoy visa free access to the United States, they do—by virtue of their citizenship—have the ability to apply for the E-2 visa, which, if granted, enables holders to both reside and take a paying job in the country.
The Turkish passport isn’t the only advantage to the Turkish CBI program. Successful applicants to Turkey’s CBI program gain the opportunity to participate in Turkey’s growing economy by engaging in investment or business creation; both activities which are easier to do as citizens than as non-citizen. Holders of Turkish passports can also better grow their business outside the country through the expanded opportunities presented by more visa free travel. Applicants who select the real estate avenue for Turkish CBI may enjoy the investment potential of the property they purchase, which they may rent out and ultimately sell (three years after purchase) for a potential profit. All three of the Turkish CBI options, in fact, present an opportunity for the applicant to recoup—and even exceed—his or her initial investment.
Lifestyle and wellness benefits
If you become a Turkish citizen through the country’s citizenship by investment program, you will enjoy the same advantages as Turks who achieved citizenship by birth. Highlights here include free healthcare and education. The Turkish state provides free education and healthcare to its citizens; as a Turkish citizen, you and your dependents (eligible children) are entitled to attend Turkish schools and universities, as well as receive medical care from Turkish hospitals. These advantages are available to all citizens—even those who decide to live outside the country for all or some of the time. Of course, the most obvious advantage to economic Turkish citizenship is the ability to live in a beautiful, diverse, and fascinating country. Millions of tourists come to Turkey every year to indulge in the country’s iconic cuisine, architecture, and entertainments. Istanbul is one of the world’s most vibrant and visited cities, renowned for its historic Ottoman-era mosques and thousands of years of history. Outside the cultural capital, tourists choose from among the country’s many Mediterranean beaches to sun and swim.
To summarize the above points, the advantage for Turkey citizenship includes visa free travel to the Turkish passport visa free countries, economic benefits such as the ability to start a business in Turkey, access to Turkish healthcare and education (free for citizens) and lifetime citizenship for oneself and one’s family—all without residency requirements or restrictions on dual citizenship (i.e. you may retain your original citizenship when you gain a Turkish passport).
• What are the Turkish citizenship requirements?
There are several key requirements to becoming a citizen of Turkey through the country’s CBI program. For those wondering how to get a Turkish passport—consider that only applicants who meet the Turkish citizenship requirements outlined below are considered eligible to apply for CBI. In order to apply, you must submit an official application to the Turkish CBI program. In addition to the basic Turkish citizenship application form, you must include various other documents and materials, such as those indicating financial soundness. Applicants must apply through a citizenship broker, which will help them submit their Turkish citizenship application form, in addition to other application documents.
• What are the ways to obtain Turkish citizenship?
Economic citizenship applicants may choose to pursue one of three avenues to Turkish citizenship via CBI: real estate, donation via government investment, or job creation. $400,000 USD is the minimum investment allowed under the terms and conditions of Turkish CBI (this investment amount is exclusively acceptable for applicants pursuing the real estate option). Those pursuing the government bond option must invest a minimum of $500,000 USD, while the third option (job creation) requires a certain degree of investment in a Turkish jobs program, which falls under the auspices of Turkey’s ministry of labor and social security and also must meet certain requirements in terms of the number of positions created in the country (50 jobs minimum). Successful applicants for economic citizenship from Turkey are therefore those who pass both a background check as well as due diligence in order to be granted citizenship.
• What are the different types of Turkish passport?
There is only one kind of Turkish passport: this is the basic passport granted to citizens of Turkey. You must become a Turkish citizen in order to receive a Turkish passport.