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A few years ago, the Turkish government made it possible to acquire citizenship by investment in Turkey. To make the process smooth, it put in place steps to be followed. The move was to lure foreigners into the economy. It is such creativity that has seen the Turkish economy evolve and their GDP increase. Other governments should emulate such ideas instead of resolving on increasing taxes every time they need more funds. For Turkey, it is a win-win for both the government, its citizens, and the foreigners. The world also benefits as this gateway country continues to conjoin economies.
For an investor, below are steps to follow to become a Turkish citizen.
- Choose an investment option
There’s one minimum requirement if you want to be a Turkish citizen. You must buy a property worth $250,000 or more. There are additional requirements which are the options to choose from. You could go for the $500,000 bank deposit or govt. Bond purchase. Alternatively, if you’re an entrepreneur, you could create employment for at least 50 Turkish citizens.
After settling for one option, you will get a residence permit.
- Open a bank account
Once you get your residence permit, the next step is to open a bank account. This account will be responsible for all your transactions. Remember this account must be registered under your name for it to count.
- Document submissions
Once your bank account is operational, you will have to reach out to the government. The state will need all your relevant documents submitted for their record. You must not skip any step as it may determine whether your application turns out successful. Besides, the more you cooperate the faster the approval comes.
- Review process
Once the government has all your documents submitted, the review process will start. This is to establish if you have met all the requirements and are fit for citizenship. In some instances, an interview is necessary. You may be kept waiting for between 6 and 9 months. During this period, verifications are done. Once they ascertain you’re good to go, your citizenship will be approved. You will now become a Turkish citizen by investment.
Life after Confirmation
After you’ve become a Turkish citizen, you’re required to live within their guidelines. Some people opt to sell their property after getting their citizenship. If you do this after three years, your citizenship won’t suffer. Although it may not be the best process. That is why you should consider holding on to the investments for the longest time possible and buy more if you can. Utilize the benefits of this citizenship and grow your wealth further.
Getting citizenship of another country is one of the hardest things to accomplish today. The process can be lengthy and time-consuming. But, when you have shorter options like this, do not hesitate to run with them. By purchasing property in Turkey, you gain access to their citizenship and can move about Europe freely without restrictions. Make sure to check Turkish Citizenship Inv program.