Turkey
WHY TURKEY?
Turkey is a significant transcontinental nation that is strategically located and bordered by three seas. The position of this well-liked tourist destination, Turkey, makes it possible to connect with important markets via first-rate transportation systems.
Istanbul, the largest city in Turkey, serves as the country's principal commercial and cultural hub despite the fact that Ankara is the country's capital.
The program offers a simple application procedure without requiring the investor's personal presence or any disclosure of their assets or income earned in other nations.
Investors can earn from rental income and resell the property after three years.
The program provides easier paths for Turkish nationals to relocate to the United States under the appropriate visa categories.
Turkey is a beautiful country located at the crossroads of Europe and Asia, with a rich history and culture that dates back thousands of years. It has stunning landscapes, from the sandy beaches of the Mediterranean and Aegean coasts to the rugged mountains of the east, and is home to many UNESCO World Heritage sites.
One of the reasons why Turkey is a great place to live is its warm and welcoming culture. The Turkish people are renowned for their hospitality, and visitors are often treated like family. The country has a diverse population, with a mix of different ethnic and religious groups, which creates a vibrant and dynamic society.
Turkey has a thriving economy, with a growing middle class and plenty of opportunities for entrepreneurs and business owners. The cost of living is relatively low compared to other European countries, making it an affordable place to live.
The food in Turkey is delicious and varied, with a mix of Mediterranean and Middle Eastern influences. The country is famous for its kebabs, baklava, and Turkish delight, but there are many other dishes to try, such as meze, dolma, and pide.
There is no shortage of things to do in Turkey, whether you enjoy exploring ancient ruins, hiking in the mountains, or sunbathing on the beach. The country has a rich cultural heritage, with many festivals and events throughout the year, such as the annual International Istanbul Film Festival and the Konya Whirling Dervishes Festival.
Overall, Turkey is a great place to live for anyone who wants to experience a unique and vibrant culture, enjoy beautiful scenery, and have access to opportunities for business and personal growth.
Key Benefits Of Obtaining A Turkey Citizenship By Investment Passport
- Quality via property investment from as little as USD 400,000.
- Children up to the age of 18 may be included in the application.
- No minimum residence requirements.
- Secular state with the vast majority of the population identifying as Muslim.
- Familiar culture and customs for Middle East clients, Visa-free travel to 110 countries including Singapore, Hong Kong, Japan, Thailand, South Korea, Ukraine, Jordan and Lebanon.
- Rapid issuance of passports following filing of citizenship applications within 4–5 months.
- Rental revenue and the ability to resell the property in three years are potential sources of return on investment.
- Speedy relocation to the US - Possibility of moving to the US and setting up your business there.
- A safe atmosphere with 60,000 worldwide firms and over 700,000 expats living there.
- Citizenship is transmitted to descendants and is valid for life.
- Turkish law permits someone to hold two citizenships.
REQUIREMENTS / INVESTMENT OPTIONS FOR TURKEY
In order to receive citizenship for the applicant and his or her family, under the Turkey Citizenship-by-Investment Program, the applicant must invest a significant amount of money in the nation. Citizenship is granted for life, and there are no residency requirements.
The main applicant must be at least 18 years old, complete the requirements for due diligence, and choose one of the following alternatives in order to be eligible for citizenship:
- Acquiring a property worth at least USD $400,000.
- A minimum USD 500,000 bank deposit in a Turkish bank.
- Investing at least USD 500,000 in a real estate investment fund.
- Fixing a minimum capital investment of USD $500,000.
- Investment of at least USD 500,000 in government debt instruments.
- 50 Turkish citizens are being employed as a result of active business investment.
The first two alternatives, with a three-year minimum investment requirement, are the most popular ones for Turkish Citizenship by Investment.
Latitude encourages all clients thinking about investing in real estate to visit the country, and our committed team in Turkey will arrange these tours. This will guarantee that clients will have a better understanding of the possibilities available to them and the entire real estate market.
Prior to submitting the citizenship application to the government, our team will also help with its preparation. The following records are necessary:
- Title deed of property
- Power of Attorney
- Certified copy of Passport, Birth Certificates, Marriage Certificates, National ID cards with Apostille
- Clean Criminal Record
- Biometric Pictures
FEES
In Turkey, the VAT on newly constructed real estate ranges from 1 to 8%. There is no VAT on resale. Stamp duty is 4%; ideally, buyers and sellers split the cost evenly, but in the secondary market, buyers typically foot the bill. On the resale market, the real estate commission is 4%, split equally between the buyer and the seller. Except for modest, trivial changes, there is no government contribution amount, no due diligence expenses, and no administrative fees. Real estate purchases come with all associated prices and fees.
Eligibility Requirements
If you meet the requirements listed below, you may apply for a Turkey citizenship:
- you are an adult.
- You don’t have any criminal history.
- You’ve never overstayed your welcome in Turkey.
- Due diligence on your investment has been finished.
- Your access to the money was lawful.
Application Process
Initial due diligence and sign client agreement.
Issuance of Power of Attorneys to our lawyers in Turkey to open a bank account,
execute real estate transaction and for the citizenship application (could be issued at
a Turkish Consulate if travel to Turkey is not possible).
Provide required documents.
Identify the property with our team and complete the purchase.
The conformity letter is obtained from the Government.
Short term residency application is lodged (6 months residency permit for the main
applicant only).
Citizenship application is submitted for all family members.
The application is reviewed by the government and due diligence checks are carried out.
Application is approved.
Citizenship is granted and passport(s) are obtained (passport could be obtained in
some of the Turkish Embassies overseas if travel is not possible).
