In 2018, the Turkish government introduced a new fast-track system to become a Turkish national. People who are eligible to apply include anyone who has bought property worth 250.000 USD or deposited 500.000 USD in Turkish banks.
Life in a fascinating country like Turkey comes with numerous advantages including the convenience of location between two continents that brings a collaboration of great civilizations, influences and historical cultures. The western and eastern confluence is one aspect worth considering and gaining Turkish residency by investment here recently saw an amendment in its policy.
Investment in Turkey in order to obtain a passport requires one of the following:
- $250, 000 investment in property, or
- $500, 000 deposit in state banks or
- Buy/fund a business with $500, 000.
Residence Permit in Turkey
Turkish residency by investment here is one of the desired ways to gain citizenship. This is subjected to a five-year permit of which you have six to chose from. It includes:
- Family Residence Permit – A renewable 3 years permit which is available for a Turkish resident’s foreign children or a Turkish resident with a foreign spouse.
- Short Term Residence Permit – a renewable 2-year permit for all foreign citizens that already possess a work permit and applicable for foreign citizens that has business relationships or established business, and for purposes like tourism, education or owns investment, real estate or does scientific research.
- Student Residence Permit – a renewable 1-year permit for students of higher education and other foreign students.
- Long Term Residence Permit – it is indefinite and available to foreigners that have lived for eight consecutive years in Turkey. These foreigners must have proof that they are not dependant on the state for any social assistance, are no threat to public order and security, have medical insurance and support their own families. Refugees can also receive a long-term residency permit.
- Other residency permits like human trafficking victim or humanitarian.
Turkey Residence by Investment
Regardless of the permit would an applicant for Turkish residency be required to be a permit holder for five years minimum before applying for citizenship.
With the revised citizenship by investment programs recently more foreign nationals are looking at becoming an EU citizen via Turkish citizenship. The desire to travel freely remains a priority and investors continue to look for the cheapest option while obtaining a hassle-free and affordable option too