Citizenship in Türkiye may be acquired through marriage, investment, descent, or other legal means. Among these options, one of the most preferred methods is, as expected, acquisition of citizenship through investment. However, individuals who wish to obtain citizenship through investment must pay attention to certain important considerations. In this article, the acquisition of Turkish citizenship through investment will be examined.
Who is a Foreigner?
The term “foreigner” refers to natural persons who are not Turkish citizens, legal entities not established in Türkiye, and Turkish companies with foreign capital.
Real Estate Investment
Foreign natural persons are required to purchase real estate in Türkiye with a minimum value of USD 400,000 or its equivalent in foreign currency, declare this investment within the scope of their citizenship application, and annotate the title deed with a restriction stating that the property will not be sold for at least three years.
Following the completion of the title deed procedures, the foreigner may apply to the relevant authorities by submitting the certificate of conformity to be issued for the real estate owner, and may request a residence permit or citizenship.
Powers of Attorney for Citizenship and Title Deed Procedures
It is also possible for the procedures to be carried out through a proxy acting on behalf of the applicant. By this method, a significant portion of the process may be completed remotely without the applicant’s physical presence in Türkiye, and, except in exceptional cases, it is possible to obtain citizenship without traveling to Türkiye.
If the procedures are to be carried out through an authorized third party by means of a power of attorney issued abroad, such power of attorney must explicitly include the relevant authorizations for the intended procedures. In addition, the power of attorney must meet the following requirements:
– It must be issued by Turkish consulates, or
– It must be issued by competent authorities authorized to prepare powers of attorney abroad,
– It must be prepared in the official language of the country where it is issued,
– It must include a photograph (bearing a clear stamp and signature),
– If issued in a country that is a party to the Hague Apostille Convention, it must include an apostille annotation,
– If issued in a country that is not a party to the Apostille Convention, it must be approved by the relevant authorities of that country and subsequently certified by the Turkish Consulate.
Furthermore, a notarized and sworn Turkish translation of the power of attorney must be submitted as part of the application file.
Spouse and Children
The spouse of the investor and children under the age of 18 are also entitled to apply for citizenship. For such applications, official documents issued by the competent authorities of the countries of nationality of the spouse and children must be provided.
Required Documents for Title Deed Procedures
– Title deed record of the real estate or detailed property information (province, district/village/neighborhood, block, parcel, building, and independent unit details)
– A photo identification document or passport issued by the applicant’s country of citizenship (documents issued in non-Latin alphabets must be accompanied by notarized and sworn translations)
– If the transaction is conducted via a proxy, a document evidencing representation authority (power of attorney, guardianship decision, etc.)
– A document issued by the relevant municipality indicating the current market value of the property
– Compulsory earthquake insurance (DASK) policy
– One photograph of the seller and two photographs of the buyer (taken within the last six months, size 6×4 cm)
– A sworn interpreter, if one of the parties does not speak Turkish
Legal Restrictions on the Acquisition of Real Estate
Foreign natural persons may not acquire all types of real estate in Türkiye. However, the property to be acquired is not required to be residential in nature.
– Foreigners may acquire all types of real estate (residential, commercial, land, agricultural land, etc.) in areas where private ownership is permitted
– If the acquired property does not contain any existing structure, the foreign owner must apply to the relevant authority within two years to develop a project
– A foreign natural person may acquire up to 30 hectares of real estate throughout Türkiye; this limit may be increased by the President
– Foreigners may not acquire or lease real estate in military prohibited zones or security zones; in special security zones, acquisition or leasing is subject to the permission of the governorship
– The total area of real estate acquired by foreign natural persons in a province may not exceed 10% of the total area of private property permitted in that province
Which Investments Qualify for Citizenship?
Pursuant to the regulation published in the Official Gazette dated 18 September 2018, foreigners who meet any of the following criteria may acquire Turkish citizenship by decision of the President:
– Making a fixed capital investment of at least USD 500,000 or its equivalent in foreign currency
– Purchasing real estate worth at least USD 400,000 or its equivalent in foreign currency, with a three-year non-sale annotation
– Creating employment for at least 50 persons
– Depositing at least USD 500,000 or its equivalent in foreign currency in banks operating in Türkiye, provided that such deposit is maintained for at least three years
– Purchasing government bonds worth at least USD 500,000 or its equivalent in foreign currency and holding them for at least three years
– Purchasing shares in a real estate investment fund or venture capital investment fund worth at least USD 500,000 or its equivalent in foreign currency and holding them for at least three years
– Investing at least USD 500,000 or its equivalent in foreign currency in the private pension system, provided that the contribution is maintained for at least three years
