Scholarships

Complete Guide On Obtaining A Turkey Golden Visa

Published

5 months ago

June 6, 2024

Silas

Turkey’s Golden Visa is one of Europe’s quickest citizenship-by-investment programs. You can become a Turkish citizen in as little as six months if you buy real estate worth at least $250,000. Previously, the minimum investment was set at $1 million, however it was dramatically reduced in 2018.

Turkey Golden Visa Criteria

To be eligible for a Turkey Golden Visa, you must meet the following requirements:

You must be an adult.
You must invest at least $250,000 in real estate (or $500,000 in other investment options).
You (or any family members joining you) must have no criminal convictions.
You must commit to maintaining your investment for at least three years.
The funds you are using for your investment must have been obtained legally.

Turkey Golden Visa Investment Options

The investment options for a Turkish Golden Visa are:

Real estate	Minimum $250,000
Government bonds (held for at least three years)	Minimum $500,000
Bank deposit (held for at least three years)	Minimum $500,000
Capital investment (held for at least three years)	Minimum $500,000
Real estate or venture capital investment fund (held for at least three years)	Minimum $500,000
Establish a company that will hire at least 50 new employees	–

How Quickly Can I Get Turkey Citizenship by Investment?

Three to six months after making your investment, you can obtain Turkish citizenship (as well as a Turkish passport). Prior to that, it may take another three to four months to complete your investment, but it is still a relatively short process.

Turkey Golden Visa Benefits

The benefits of a Golden Visa for Turkey are:

You can quickly and easily obtain a Turkish passport.
Turkey is an economically strategic country, located between Europe and Asia.
Turkey has several immigration facilitation agreements with the EU and US:
You can apply for the E2 Investment Visa, and receive a US Green Card.
You can apply for the Turkish Businessperson Visa in the UK, and obtain British permanent residence.
It is fairly easy to apply for a work and investment visa in the EU, through the Ankara Agreement, signed between Turkey and the European Economic Community.
With a Turkish passport, you can travel visa-free to more than 110 countries.
Your family members can also live in Turkey obtain and Turkish passports.
Turkey is a beautiful country, with countless historical and cultural sites.
Turkey offers a great quality of healthcare and higher education.
Turkey is one of the cheapest countries to get a second passport.

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Application Process for Turkey Golden Visa

The application process for a Turkey Golden Visa is divided into four parts:

Consult with professionals regarding your investment.
Apply for a Certificate of Eligibility.
Apply for a residence permit and finalize your investment.
Apply for Turkish citizenship.

Step 1 – Consult With Professionals

Before you settle on an investment option, you should consult with professionals for legal advice.

Step 2 – Apply for a Certificate of Eligibility

Before you can invest in Turkey and apply for a Golden Visa, you must apply for a Certificate of Eligibility. The institution responsible for issuing your Certificate of Eligibility depends on your investment type:

Investment	Institution to issue Certificate of Eligibility
Purchasing real estate	Turkish Land Registry and Cadaster of the Ministry of Environment and Urbanization
Investment in government bonds	Turkish Ministry of Treasury and Finance
Bank deposit	Department of Financial Consumer Relations of the Banking Regulation and Supervision Agency
Capital investment	Incentive Application and Foreign Capital of the Turkish Ministry of Industry and Technology
Purchasing real estate or venture capital investment fund	Department of the Brokerage Activities of the Capital Markets Board of Turkey
Establishing an enterprise that will hire at least 50 new employees	General Directorate of International Labor of the Ministry of Family, Labor and Social Services

Step 3 – Apply for a Residence Permit and Finalize Your Investment

Once you obtain your Certificate of Eligibility, you must apply for a residence permit with the Turkish Provincial Directorate of Immigration Administration. You will be issued a permanent residency permit as soon as you apply for it.

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The residency permit allows you to remain in Turkey until you complete your investment and obtain Turkish citizenship.

Typically, you must submit an application for a residency permit in Turkey to the local Immigration Administration office.

Step 4 – Apply for Turkish Citizenship

As soon as you finalize your investment, you can apply for Turkish citizenship:

You must submit an application to the Provincial Census and Citizenship Directorate. They will issue your citizenship file and send it to the Directorate General of Civil Registration and Citizenship Affairs (NVIGM).
The NVIGM will then conduct an investigation to see whether you have breached any laws and to ensure you respect national security and public order.
The NVIGM will forward your application to the Office of the Minister.
If the investigation is positive, the Minister’s Office will forward your application to the President’s Office, who makes the final decision regarding your citizenship application.

Turkey Golden Visa Document Checklist

The documents you are required to submit with your Turkish Golden Visa application include the following:

Passport. If you are applying as a family, submit the passports of each family member.
Turkish Tax Number. You have to obtain a tax number in Turkey (at a local Tax Office) before you can open a bank account and apply for citizenship.
Proof you have never stayed in Turkey illegally.
Police certificate. You need a document from the police authorities in your country, proving you do not have a criminal background. This applies to any family members who are applying alongside you.
Proof of investment. Depending on your investment type, you should submit the necessary documents and certificates proving you have made or are committed to making your investment.
Birth certificates of all applicants.
Passport-size pictures of all applicants.
Marriage certificate. If you are married, submit a valid marriage certificate.
Divorce certificate. If you are divorced, you must submit a certificate of divorce.
Death certificate. If you are a widower, you should submit a death certificate.
Health insurance. You must obtain health insurance, valid in Turkey, for yourself and your family members.
Any additional documents requested by the NVIGM.

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Turkey Dual Citizenship

Under Turkish law, you are allowed to maintain dual citizenship. You do not need to renounce your current nationality to obtain a Turkish passport. However, remember that your current country of nationality must also permit dual citizenship.

Tax Implications of a Turkey Golden Visa

Personal income tax – If your annual income is higher than 650,000, the personal income tax rate in Turkey is set at 40%.
Corporate income tax – In 2021, the corporate income tax rate on business profits in Turkey was set at 25%. In 2022, it is expected to be set at 23%.
Value-added tax (VAT) – VAT rates in Turkey are set at 1%, 8%, and 18%.
Property tax – The real estate tax in Turkey (if you own a building, apartment, or land) ranges at a rate between 0.1% and 0.6%.

Turkey Golden Visa as Gateway to the USA

Turkey is one of the 78 countries whose citizens can apply for the American E2 Investment Visa. The E2 Visa is appealing since it has no yearly quota and requires less investment than the EB5 Visa.

To qualify for an E2 Visa, you must spend $100,000 to $200,000 in an American firm (existing or new) and generate employment opportunities. In comparison, an EB5 Visa requires a minimum investment of $900,000.

As a result, many investors who are not eligible for the E2 Visa choose to invest $250,000 in Turkey, receive a Turkish passport, and then invest an additional $200,000 in the United States to obtain residency there. It is less expensive than applying directly for an EB5 visa and does not carry the risk of being denied owing to an annual quota.