Discuss Client concerns and issues with Client. If he/she is stateless approved documents with Turkish translate certified from the notary. When calculating for the fixed capital expenses for the applications to be submitted in following years, the expenses made in the last maximum 3 years shall be taken into consideration.d. For application submitted with incomplete information and documents; applications, which fails to complete the incomplete information and documents within 1 month following the written notification to the applicant, shall be rejected without further notice. With the new regulation, it’s possible to become Turkish citizen by employing 50 personnel in your company. CAPITAL INVESTMENT: Subject to approval by the Ministry of Industry and Technology, a fixed capital investment of $500,000 (USD) can be used as the basis for applying for Turkish investment citizenship. Fulfilling the one of the investment conditions and obtaining receipt of a certificate of conformity. Turkish Government is doing its best to reduce time. Document showing a residence address in foreigner’s home country (such as phone, electricity, gas bill), Turkish tax number (we can obtain tax number for you). Did you know that Turkish citizenship can be obtained through a $250,000 investment in real estate? The amount should be convertible and should be equivalent to $500,000. Particular purpose report from a certified public accountant (CPA) shall be required for making a fixed capital investment of a minimum $500,000. How long does the Turkish citizenship application process take? 2. Legalixa Law Firm is a full service Turkish Immigration Law Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Turkish Citizenship by Investment Program was firstly launched in early 2017 to attract foreign investors to boost the country’s economy in the real estate sector. First, tell us what kind of property you are seeking and we will make a comprehensive search to determine the best investment opportunities that match your criteria. Update: As of 29.01.2020, by reason of public pressure in Turkey, the increasing minimum amount of Turkish Citizenship by real estate program from 250.000 USD to 500.000 USD became the main topic of conversation and the issue was being discussed in the Grand National Assembly of Turkey. Each of the property must be bought after September 19, 2018. Thanks to its nationally recognized immigration law practice, our firm is now one of the leading Turkish citizenship law firms in Istanbul, Turkey. Obtaining conformity certificate from Banking Regulation and Supervision Agency for depositing a minimum of $500.000 or equivalent foreign currency or equivalent amount of Turkish Lira to banks that operate in Turkey [prior to the amendment such amount was $3,000,000] with the condition to keep such deposit in the relevant bank for at least three years. Since the amount can be withdrawn by the applicant, there should not be any restriction on the deposit account such as a sequestration or any other legal limitations. However, this is not a blockade that makes the amount cannot be withdrawn by the holder of the bank account. Turkey grants Citizenship to foreign on bases of investment in 2 ways. Turkey Citizenship by Investment program of 2020 In Turkey, there is no Turkey citizenship by investment official website to take citizenship applications. If such real estate is purchased after September 19, 2018 and/ or such real estate is purchased with preliminary sale contract issued before notary public after December 7, 2018; the minimum value should be $250,000. Demand for Turkish passport has increased sharply during this period, and according to the Turkish Interior Ministry, in March, April and May 2020, an average of 1,333 investors managed to obtain Turkish Citizenship monthly. The real estate shall also have an annotation of no-sale for at least three years at the relevant title registry which shall be recorded during the purchase transaction. In the event that additional fixed capital investment is made to a currently present investment, the increase in the amount of fixed capital investment as of the beginning of the additional investment shall be taken into consideration.e. The amount which deposited in a Turkish bank will be blocked for three years with applicant’s request. Foreigners should deposit a minimum of $500,000 or equivalent amount in foreign currency or Turkish Liras to banks that operate in Turkey with the condition to keep such deposit at such bank for at least three years. Private health insurance. Here’s how you can apply for a Turkish citizenship through the investment program. We will offer you various property options: we will report physical features, legal status, price and profitability ratio. NOV 13, 2020. Meet with our professional consultancy services. The whole citizenship procedure is completed within 4 months, Bank account opening only within 1 day, The contribution to Turkish economy is one of the most important criteria for gaining Turkish citizenship for foreigners. No, we suggest foreigners seeking Turkish citizenship by investment to work with a law firm from the beginning. We know the problems of foreigners living in Turkey and we are the first to help you to avoid those concerns. Immigration Law. The evaluation reports which will be submitted within the scope of this instruction shall belong to the same year and the application and operation made at the end of the year or the applications which have not been finished in the same year the reports submitted will be reevaluated according to the reevaluation ratio determined by the Ministry of Finances. If you desire, the family of the main applicant can apply after the main applicant becomes a Turkish citizen in 2020. Also, employing 50 personnel is determined as a criteria for applying for Turkish citizenship with the new regulation. It’s essential to deposit such amount to banks that operate in Turkey. The Advantages of Turkish Citizenship by Investment 2020 No minimum stay requirement. Setting up a company $1500. After the purchase of an immovable property of 250,000$, an expiration date of three years cannot be placed on the land registry records. Birth certificate that shows personal information, or population register sample document and if married family registration certificate that proves the family bond between his/her spouse and children. TURKISH CITIZENSHIP BY INVESTMENT … Find out more about the benefits of acquiring a Turkey passport, or contact us now for a free consultation. Our attorneys will help from real estate purchase until you get Turkish citizenship. INDIVIDUAL & FAMILY VISAS. Turkey’s citizenship by investment program has been one of the most popular schemes during the Corona Crisis. With the new regulation, it’s possible to become Turkish citizen by purchasing public debt instruments with the condition of not selling for three years. 6 Months - 368,30 TL. It is better them to be here to see the property, once they decided to buy, then can give us PoA to follow up property purchase and complete the whole procedure. We recommend that you apply to a consulting company for your Turkish Citizenship process, so you can have a quick and worry-free process. It is possible to change the currency or type of investment which is mentioned in Regulation (such as purchasing a real estate investment fund share and capital investment trusts fund share with a minimum value of $500.000). A real estate value assessment report which shows the real value of the real estate shall be required for purchasing a real estate investment. Turkey announced a new citizenship program based on investment in 2016 first time. If the tenant is not paying rent on time, we will send him/her a warning letter. December 3, 2020 By Cass. I would suggest options 1 and 2. You must buy one or more real estate to achieve the 250,000 USD requirement. Prepare up to two sets of revisions or responses to counteroffers, if necessary. 106 decision of foreign nationality were changed with the concept of Turkish citizenship. There are government banks, private banks, interests vary. No matter what your current nationality is, you can become Turkish and enjoy the ability to live, work, and go to school in Turkey. Real Estate. In order to apply for a short term residency permit; foreigner should enter Turkey legally and an online application shall be made where an appointment date for the application shall be reserved from the Directorate of Immigration so that the applicant could be present in Turkey at such reserved application date. New regime has brought the option to purchase real estate in installments provided that a real estate property should be purchased after September 19, 2018 and each installment should be made after September 19, 2018. Yes, any property you buy is eligible for citizenship. The Turkish government reduces the amount of investment options in order to get Turkish nationality. Turkish Citizenship by Investment: a new strategy used by the Turkish government encouraging foreign investment,learn how to benefit from it. The date of issuance of such assessment report should be three months (at most) prior to the application date. Trade registry gazette which shows the partnership structure of the legal entity which has made the fixed capital investment which constitutes the basis of application and the investment amountd. Conformity certificate for the investment type, Preliminary examination form (a standard form VAT-4), Notarized Turkish translation of the passport, Valid residence permit obtained through the process above outlined, Receipt slip for the application service charges made, If the applicant is divorced; Divorce Certificate/Decree, If the applicant is married; Marriage Certificate, If the applicant is widow; Death Certificate regarding his/her spouse, who make fixed capital investment at least, who purchase the immovable property at least, who purchase public borrowing instruments at least, who purchase a real estate investment fund participation share or venture capital investment fund participation amount of at least. Тhe Charm Of Real Estate Market In Turkey 2020 6 March 2020. Prepare citizenship application documents for Client, his wife and children. We are willing to be your fellow throughout the citizenship process with our experienced lawyers and advisors. Looking to obtain Turkish citizenship by investment from Nigeria? Turkish Citizenship by Investment Programme. After making the investment and meeting other eligibility criteria, you and your family can attain Turkish Passport within 2 to 3 months. The foreign currency amounts of the installments shall be determined based on the currency exchange rate of the Turkish Central Bank at the date of transactions regarding purchasing a real estate. Registering your property with local Municipality to pay annual Environmental and Garbage Collection Tax. March 3, 2020 Christian Henrik Nesheim Comments Off on Citizenship Investors Now Raise $250m a Month for Turkey, According to Ministry of Interior Application data for Turkey’s citizenship by investment program, as reported by the government, defy belief; nearly 25,000 new citizens in 17 months. The concepts like ” Turkish citizenship lawyer” or similar things are not used in Turkey. You may reach our attorneys for Turkish Citizenship with Investment 2020 by sending an email or through Contact page. The PoA can also be given to purchase a property on behalf of the client. In order to be eligible for bank deposit option, one must invest at least 500.000 US Dollars or its equivalent foreign currency or equivalent of Turkish Lira and make commitment to hold the amount of deposits for three years at banks operating in Turkey and for whom a certificate of conformity is issued by the Banking Regulation and Supervision Agency. Point (b) The condition that the amendment of the regulation taken on the date of 12.01.2017 and for the immovable/immovables acquired in the date interval in which this directive entered into force shall not be required to be purchased with the same journal number. For option 1, property purchase process takes some time, for option 2, depositing money and getting the approval takes about 1 week and we can file the residency application first. More recently, one of the exceptional cases based on purchasing a real estate with a minimum value of $250,000.- (Two Hundred Fifty Thousand US Dollars) was amended by the Presidential Decree No. According to the decision taken with the regulation the said statement with the requirement the abandonment following the three years stated within the law, If the applicant’ cancellation requested by the applicant within 3 years from the date of the entry of the declaration, the MERNIS registry shall be checked to see if the applicant has obtained Turkish citizenship. In accordance with the “Regulation on Making Amendments in the Regulation on the Implementation of Turkish Citizenship Law” which is effective as of being published on the Official Gazette dated 12 January 2017 and No 29946; it has been decided that Turkish Citizenship can be granted to the persons, whom are determined by Ministry of Economy to have made fixed capital investment in the amount of 500.000 US Dollars, upon the suggestion of the Ministry of Interior and with the Cabinet Decision. and around 500 TL, visa fee (460 TL), official appraisal fees for property purchase is around 1,500 TL, notary and translation fees around 1,500 TL, fee for residency permit = 426.54 TL, document fee = 89. So, they can come see the property and give us PoA and can go back to their country in a couple of days. Formula 1 DHL Turkish Grand Prix 2020. Applications approved by the Ministry shall be sent to the Ministry of Interior to carry out necessary procedures. Yes, Turkey allows dual nationality, as long as your original country allows it. In this context, foreigner may deposit the money more than one bank operating in Turkey with the condition to keep such deposit at such bank for at least three years and the total deposited amounts should be equal to $500,000. 2 biometric photograph (50×60 mm, white background, machine readable, plain set by ICAO). 1 Year - 464,40 TL. After we completed your property purchase, we can provide below services with an additional fee; Obtaining conformity certificate from Ministry of Environment and Urbanization for purchasing a real estate property with a minimum value of $250,000 or equivalent foreign currency or equivalent amount of Turkish Liras [prior to the amendment such amount was $1,000,000] and attached an annotation of no-sale for at least three years at the relevant title registry. 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