Turkey
Turkey, located at the crossroads of Europe and Asia, embodies a rich and diverse cultural heritage influenced by various historical powers, including the Ottoman Empire, ancient Greece, Rome, and the Balkans. Its expanding economy and contemporary facilities have made Turkey a favorite destination for travel, investment, and relocation.
Turkey offers a range of visas for foreigners, including work and investment visas, leading to citizenship. Turkish citizenship could provide access to a growing economy, modern infrastructure, and a rich cultural heritage. The process for obtaining Turkish citizenship through investment is straightforward and efficient, making it an attractive option for those seeking new citizenship.
The steps for obtaining Turkish citizenship through investment are as follows:
It’s important to note that the requirements and procedures for obtaining Turkish citizenship can vary and are subject to change. We recommend you consult a qualified immigration lawyer for specific information and guidance.
- Investment
- Residence Permit
- Citizenship Application
- Approval
- Investment: Make a qualifying investment in Turkey. This step can include buying real estate, investing in a Turkish company, or depositing in a Turkish bank. The minimum required real estate investment amount is $400,000.
- Residence Permit: Apply for a residence permit. This permit is typically granted for one year and is eligible for annual renewal.
- Citizenship Application: There is no residency requirement to qualify for citizenship. However, as of December 27, 2022, investors interested in pursuing the US E-2 visas via Turkish citizenship must live in Turkey for at least three years before being eligible for the investor visa.
As of May 2022, the terms and conditions of obtaining Turkish citizenship have changed. The investor must choose one of the alternatives cited below:
- Purchase real estate for $ 400,000 or more. Hold it for three or more years.
- Make a capital investment worth $500,000 or more.
- Create employment in Turkey for at least 50 people.
- Deposit $ 500,000 or equivalent in foreign currency or TL in Turkish banks, provided that you do not withdraw it for at least three years.
- Invest in government debt instruments for at least $500,000 or more for three years or longer.
- Invest in “real estate investment fund participation shares” or “venture capital investment fund participation shares” of at least $500,000 or equivalent in foreign currency or TL for at least three years.
- Invest at least $500,000 or equivalent in foreign currency in the private pension system, provided it is kept in the funds determined by the Insurance and Private Pensions Regulation and Supervision Agency and remains in the system for at least three years.
Performance Guarantee:
A Performance Guarantee, or performance bond, is a financial safeguard given by a third party, like a bank or insurer, to make certain that a contract’s terms will be honored. Performance guarantees are widely utilized in construction and procurement deals to ascertain that the contractor or provider will complete their work or deliver the items as agreed.
To minimize the risk of contract breaches in construction or procurement contracts, the project owner or purchaser may ask the contractor to provide a performance guarantee. In cases such as finishing the project on schedule or providing items meeting the required specifications, when the contractor or supplier does not fulfill their duties, the beneficiary of the performance guarantee (often the owner or buyer) can seek reimbursement.
Usually, the performance guarantee amount is a percentage of the total contract value, used to cover any extra costs or compensate for damages arising from the contractor or supplier not meeting their responsibilities.
Performance guarantees are becoming increasingly popular across different sectors as they offer security and confidence for the beneficiary and the contractor. This practice ensures that the project or delivery adheres to the agreed terms while providing a means of compensation if the contractor or supplier fails to meet their obligations.