There is around 23 countries that offer citizenship (CBI) by investment or residency by investment (RBI). More or less, all citizenship programmes have similar requirements to qualify for the second passport. It will take a comprehensive study to talk about all in one article. Therefore, we will talk about turkey citizenship by investment programme. Turkey’s (Southeast Europe and West Asia) citizenship-by-investment scheme offers far more accessibility than any other European country. Check out the following context if you want to know further about obtaining Turkey’s citizenship.
Who Can Apply for Turkey’s Golden Visa?
Though the Turkish Golden Visa is pretty flexible, there are still some aspects that one has to consider to qualify for Turkey’s Golden Visa.
- The applicant can be from any country globally, except North Korea, Nigeria, Syria, Armenia, and Cuba.
- The applicant must not have violated any laws.
- The applicant must invest a minimum of 400,000 USD in the specified Turkish industries.
- The applicant’s spouse and children under the age of 18 will also be considered eligible for PR in Turkey and thus, will be granted Golden Visa.
- The applicant and his joining family members should have no criminal record.
What are the Sectors for Turkey Citizenship by Investment ?
Turkish government has specified a few industries in which capitalists can invest for obtaining permanent Turkey Citizenship by Investment . These sectors are:
- The applicant can invest a minimum of 400,000 USD in the real estate sector of Turkey. You can either buy one or multiple properties with this amount.
- One can also deposit up to 500,000 USD in Turkish banks. The investor will receive specified interest rates on these deposits. By the end of 2021, the average interest rate in Turkish banks was around 14%.
- investor can also purchase government bills and bonds equivalent to 500,000 USD.
- Investors can also start a business worth up to 500,000 USD and create 50 jobs.
What Are the Indentures Required for Applying To Turkish CBI?
The first thing you will need to do to obtain Turkish PR is to fill out an application form for a Turkish ‘Golden Visa.’ Below is the set of documents required to apply for this Visa.
- Birth Certificate authenticated from the Home Ministry of the native country.
- Residency Certificate from home country.
- Marriage Certificate, Divorce Certificate, or Death Certificate.
- Copies of applicant’s passport.
- Approved document for ‘Power of Attorney.’
- Verified receipts of wire transactions.
- Biometric photographs.
- Aptly filled application forms.
How To Obtain Turkey’s PR through CBI Program?
After your application for Golden Visa gets approved, the following are a few tasks that you will need to perform to attain PR in Turkey.
- You will need to register for a Turkish tax number in any ‘Tax Registrar Office Branch’ of Turkey.
- Next, you will be required to open an account in any Turkish bank.
- Further, you will need to invest the fixed capital in Turkey for your chosen sector.
- Once the capital is invested, you will be provided with a bank statement. Using this statement, you will have to attain the ‘Certificate of Conformity.’
- Once you have the certificate, you will be able to apply for Turkish citizenship.
- You can apply for Turkish PR at ‘The Directorate General of Migration Management.’ Officials will verify your documents and investment. Within a short duration, you will be granted Turkish citizenship.
The Turkish passport is quite powerful. By attaining Turkish citizenship, one gets to accelerate mobility. Business visas to the UK, European countries, Canada, and the USA become more accessible with a Turkish passport. Therefore, Turkey is not only a peaceful and prosperous place to live with family but is also a gateway to enhanced opportunities for business.