Yalis along the shores of the Bosphorus, Kanlica, Istanbul

Turkey - Türkiye: Dual Nationality, Second Citizenship by Investment, Turkish Golden Passport

Exceptional Acquisition of the Turkish Passport

Apply for the Turkish passport

Description of Turkey's Citizenship by Investment Program

Turkey offers citizenship for life in a Muslim country and one of the fastest growing economies in the world against a strategic investment into its economy in the form of a $500,000 bank deposit or the purchase of a Turkish flat for $250,000.

The dark red Turkish passport ("Maroon passport") is valid for 10 years.

Do I Need to Travel to Turkey to Apply for a Second Passport

> Real estate may be purchased through a proxy.

Key Benefits of Turkish Citizenship

• Citizenship for life in a Muslim country and one of the world’s fastest growing economies
• Turkey recognizes dual citizenship
• Muslim investors are bullish on Turkey and its passport, as they perceive it as a growing and promising country with a long historical relationship. Most MENA investors want a second home, and they see Turkey's growing real estate market as more affordable than the EU's because still in its infancy. Iranians led the list of 2020 buyers, followed by Iraqis, Russians, Chinese, Azerbaijanis, Afghans, and Palestinians
• Istanbul is the top city for foreign buyers. Historically, Istanbul and the Bosporus have been the trade and cultural centre between Europe and Asia, sitting on the border of both continents. Today, it is attracting many leading real estate companies and international investors
• Turkey (and Grenada) have an investment treaty with the US providing access to the E-2 Investor Visa to the US
• No sunk costs, as unlike other CBI programs, the Turkish citizenship program does not levy due diligence, processing, government, etc. fees
• The only CBI program providing visa-free access to Muslim nations such as Azerbaijan, Iraq, Kazakhstan, Kuwait, Morocco, Oman, Sudan
• The only non-European CBI program providing visa-free access to Japan, Mexico, Mongolia, Myanmar, Namibia, Senegal, Thailand
• Turkey is a roadmap country for the US Visa Waiver Program (VWP). The VWP is a program of the United States federal government that allows nationals of specific countries to travel to the U.S. for tourism, business, or while in transit for up to 90 days without having to obtain a visa.
  

Key Downsides of the Turkish Passport Program

• No Schengen access
• Frequent waves of extreme lira weakness (as, for example, during summer 2018). On the other hand, the $500,000 capital investment can be made in any currency

Personal Income Tax in Turkey

> Residents are taxed on worldwide income while non-residents are taxed on income derived from, or sourced in, Turkey only.

Corporate Income Tax in Turkey

Real Estate Tax in Turkey

How to Get the Turkish Passport and What Are its Costs

There are two main options to get the Turkish golden passport and citizenship:

1) Capital Investment Option: An investment (of the equivalent of) $500,000 (in any currency) for a minimum of 3 years into (i) the deposit of a bank operating in Turkey or (ii) Turkish government bonds or (iii) Turkish real estate fund shares.

> Processing time is approximately 3 months.

> A Certificate of Eligibility (approving the 3-year restriction) needs to be obtained from either (i) the Department of Financial Consumer Relations of the Banking Regulation and Supervision Agency (bank deposit option) or (ii) the Ministry of Treasury and Finance (government bonds option) or (iii) the Department of the Brokerage Activities of the Capital Markets Board (real estate fund option).

OR

2) Real Estate Option: Purchase (in personal name) of (one or several, or shares in) Turkish (residential or commercial) real estate (including on a buy-to-let basis) worth $250,000 for 3 years (involving a resale restriction recorded in the property’s title deed).

> A Certificate of Eligibility needs to be obtained from the General Directorate of Land Registry and Cadastre of the Ministry of Environment and Urbanization.

> Processing time is approximately 6 months.

> The seller of the property must be a Turkish citizen.

> Additional real estate closing costs apply.

Legal, Notary, and Processing Fees

What are the Steps to Get the Turkish Passport

1. Application pre-approval, real estate search and valuation report (which is valid only for 3 months) by a registered valuer
2. 3 - 6 months: Investment made / real estate purchase completed
3. Certificate of Eligibility issued
4. Application for a 2-year Residence Permit issued by the Ministry of Interior, Directorate General of Migration Management
5. Certificate of Conformity issued, Application for Citizenship

*** Visa-Free Countries for Turkish Citizens

(strong focus on Muslim countries)

Albania (90 days), Antigua and Barbuda (180 days), Argentina (90 days), Armenia (120 days), Azerbaijan (90 days), Bahrein (14 days), Bangladesh (30 days), Barbados (180 days), Belarus (30 days), Belize (90 days), Benin (30 days), Bolivia (90 days), Bosnia and Herzegovina (90 days), Botswana (90 days), Brazil (90 days), Brunei (30 days), Cambodia (30 days), Cape Verde, Chile (90 days), Colombia (180 days), Comoros (45 days), Costa Rica (90 days), Côte d’Ivoire (3 months), Djibouti (31 days), Dominica (21 days), Dominican Republic (90 days), Ecuador (90 days), El Salvador (90 days), Eswatini (ex-Swaziland, 30 days), Ethiopia (90 days), Fiji (120 days), Gabon (90 days), Gambia (90 days), Georgia (360 days), Guatemala (90 days), Guinea-Bissau (30 days), Haiti (90 days), Honduras (90 days), Indonesia (30 days), Iran (3 months), Iraq (15 days), Jamaica (90 days), Japan (90 days), Jordan (90 days), Kazakhstan (30 days), Kenya (90 days), Kuwait (3 months), Kyrgyzstan (30 days), Laos (30 days), Lebanon (3 months), Lesotho, Madagascar (90 days), Malaysia (90 days), Maldives (30 days), Marshall Islands (90 days), Mauritania, Mauritius (90 days), Mexico (180 days), Micronesia (30 days), Moldova (90 days), Mongolia (30 days), Montenegro (90 days), Morocco (3 months), Mozambique (30 days), Myanmar (28 days), Namibia, Nepal (90 days), Nicaragua (90 days), North Macedonia (60 days), Oman (14 days), Pakistan, Palau (30 days), Panama (180 days), Paraguay (90 days), Peru (183 days), Philippines (30 days), Qatar (90 days), Russia (16 days), Rwanda (30 days), Saint Kitts (3 months), St. Lucia (6 weeks), St. Vincent (30 days), Samoa (60 days), Senegal (90 days), Serbia (90 days), Seychelles (90 days), Sierra Leone (90 days), Singapore (30 days), Somalia (30 days), South Africa (30 days), South Korea (90 days), South Sudan, Sri Lanka (30 days), Sudan (1 month), Suriname (90 days), Tajikistan (45 days), Tanzania (90 days), Thailand (30 days), Timor-Leste (30 days), Togo (7 days), Tonga (31 days), Trinidad and Tobago (90 days), Tunisia (90 days), Tuvalu (30 days), Uganda (90 days), Ukraine (90 days), Uruguay (90 days), Uzbekistan (30 days), Vanuatu (30 days), Venezuela (90 days), Zambia (90 days), Zimbabwe (90 days)

Download factsheet on how to get citizenship in Turkey