What are the Stages of getting Turkish Citizenship by Investment?
Before we start, we want to answer the question “As a foreigner, can you buy property in Turkey?” The short answer is yes, you can buy a property in Turkey. For a detailed answer you can read our article, “As a Foreigner, Can I Buy Property in Turkey? - Here is the answer”.
As you can remember, in our recent blog we covered the possible ways to obtain Turkish citizenship. One of them was Turkish citizenship by investment. In this blog, we will cover the relevant questions:
- What is the Turkish citizenship by investment program?
- What are the stages of Turkish Citizenship by investment?
- What are the required documents to apply?
What is the Turkish citizenship by investment program?
Citizenship by investment is a very common program in the world. Today a huge number of countries have these kinds of programs. Such programs aim to attract investors and also, of course, the capital. And also these programs come with benefits.
What are the benefits of Turkish citizenship?
Turkey is an alluring country for investors because of its geographical position in the middle of Africa, Asia, and Europe. In addition to this, Turkey provides benefits to foreigners like tax exemptions and other investment opportunities. For example E-2 Investor Visa!
We will cover it in another article. Yet, we can sum it up like that: Turkey has high youth and workforce rates, and a growing economy; and the increasing value of other currencies makes it more attractive, and more alluring with the incredible profit potential!
What are the stages of Turkish citizenship by investment program?
First Step: You need to get a tax registration number
First of all, you need to get a tax registration number, because it will help you to open a bank account. You can handle it easily online or you can go to a Tax Office and handle it in person. As Property in Alanya, we are helping you at every stage, including getting a tax registration number.
Second Step: You need to open a Turkish bank account
To open a bank account you need to apply to a Turkish bank with a local SIM Card. Some banks may ask for a residence address.
Third Step: Finding the property
Yes, this is the step that you are waiting for. You need to find a property that suits your needs. In that case, Property in Alanya will help you find the right property, at the right place, and at the right price. Also, you can check our article on buying property in Turkey in 2023.
Fourth Step: Real estate appraisal report for the property
The Appraisal report helps determine whether your real estate investment is of sufficient value to obtain citizenship. Because of this, before you apply for Turkish citizenship you need to have an appraisal report of the property that you are considering buying. If it’s below the minimum value, then you can't benefit from the Turkish citizenship program.
Fifth Step: Purchasing the property
After you have the tax registration number, bank account, and appraisal report now you can purchase the property. Purchasing the property has different steps. Our experts can help you to give all the necessary information.
Sixth Step: You need to get a certificate of conformity
A certificate of conformity is used to prove that the buyer is eligible to obtain citizenship without any problem. The governmental institutions check all documents to understand the eligibility status of the buyer.
Seventh Step: You need to apply for Turkish Residency
Now you need to apply for a Turkish residence permit. Applying for a Turkish residence permit is one of the easiest steps of this process. You can check our comprehensive guide on obtaining a Turkish residence permit.
Eighth Step: You need to apply for Turkish Citizenship
It’s time to apply for Turkish citizenship. When applying for Turkish citizenship, you must state that the real estate you have purchased has been taken for Turkish citizenship application. The property in question cannot be sold for three years.
Smart Way to Apply for Turkish Citizenship by Investment
Property in Alanya has over 15 years of experience. We have successfully concluded these applications one by one for our numerous customers. You can call or visit our offices in Alanya and Muratpasa whenever you want. Our experts are ready to provide you answers that you are curious about buying real estate in Turkey and obtaining Turkish citizenship.