Turkey

FOREIGN CITIZENS’ ACQUISITION OF TURKISH CITIZENSHİP

Criteria For Foreign Investors

1) Making a minimum fixed capital investment of USD500,000 or equivalent foreign currency or Turkish lira, as attested by theMinistry of Industry and Technology

2)  Acquiring a property worth a minimum of USD 400,000or equivalent foreign currency or Turkish lira with a title deed restriction onits resale for at least three years, as attested by the Ministry of Environmentand Urbanization

3)  Creating jobs for at least 50 people, as attested by the Ministry of Family, Labor and Social Services

4)  Depositing at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years, as attested by theBanking Regulation and Supervision Agency

5)  Buying at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years, as attested by the Ministry ofTreasury and Finance

6)  Buying at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or ventur ecapital investment fund share with the condition that they cannot be sold for at least three years, as attested by the Capital Markets Board of Turkey

Foreigners can only acquire Turkish citizenship based on the resolution of the President of the Republic of Turkey, provided that there are no impediments there to pursuant to national security and public order.

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Acquisition of Turkish Citizenship for Foreigners Through Real Estate Investment

Investors of foreign origin are granted the right to acquire Turkish citizenship by means o fexceptional procedures upon purchase of real estate worth USD 400,000 and more.

For this purpose, foreigners:

• Shall purchase real estate worth at least USD 400,000

• Shall state, in the application for acquisition, that they purchased the real estate for this purpose, the title deed should state this purpose, and the foreigner shall declare that they shall not sell the real estate for three years in the section of the form where declarations are made. 

With only one investment, spouse of the investor and their minor or dependent children may also acquire Turkish citizenship in the event they apply together with the investor

Why Turkey?

With its warm climate and convenient geographical position acting as a bridge between Asia and Europe,Turkey is considered an attractive place for residence or citizenship.

The Turkish citizenship program is one of the fastest at approximately three to six months for application processing, one of the most affordable citizenship programs worldwide.

 The Turkish government allows dual-citizenship, which means applicants may retain their original nationality.

The Turkish citizenship provides access to the free Turkish education and health care system.Additional benefits include visa-free travel to over 100 countries, Singapore,Japan and major countries in South America and Africa.

The Turkish Government does not require the applicant to declare international earnings or pay tax on international income. Further, there is no inheritance tax in Turkey

Turkey’s Customs Union with the EU allows investor and it’s businesses direct access to the EU Market.

Turkey also has a prospective Visa free travel to EU soon

Vesta Global Turkish Citizenship Program

• Real Estate Investment Consultancy
• Issuance of Power of Attorney . (One POA for buying a real estate and another  POA for citizenship applications)
• Getting a tax ID Number
• Opening a bank account in a Turkish Bank
• Organizing the appraisal report with an independent appraiser
• Land registry application for the acquisition of a real estate by a foreign investor
• Reviewing the land registry records and/or construction permits
• Purchasing of the property (sales transaction through investors bank transfer of bank cheque.
• Obtainment the “Tapu” – the tittle deed
• Getting the certificate of eligibility from the Land Registry and Cadaster
• Residence permit application
• Turkish Citizenship application

Program Fees: VIP service comes as standard to all our Clients. As a luxury consultancy firm, we believe in personal relations and each client will have direct access to one of the  managing partners  of Vesta Global.

An Additional Real Estate Commission of 2% + VAT is charged if the real estate is purchased through Vesta Global. This is the legal real estate commission  in Turkey.

‍Governmental Expenditures

• Residency Permit Fees
• Citizenship / Passport Fees
• Mandatory Health Insurance      
• Real Estate Appraisal Fee
• Notary & Translation Costs
• Land Registry Cost  
• Dask (Earthquake Insurance)
• Other Governmental Costs    

Other Taxes

Real estate tax is a municipal tax levied on the value of Turkish real property. Residential premises are taxed at 0.2% of their value

Net rental income earned by individuals is subject to income tax at progressive rates from 15% to 35%. However if the property is let out as a residence, there is an exemption amount from taxation.

Capital gains tax from the sale of immovable property are exempt from income tax provided that the holding period is longer than five years

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