• Capital: Ankara
• Population: 79.5 million
• Area: 779,452 sq km (300,948 sq miles)
• Major language: Turkish (official), Kurdish
• Major religion: Islam
• Life expectancy: 72 years (men), 79 (women)
• Currency: Turkish Lira
• Exchange Rate (as of May 2018): US$ 1.00 = 5.32 TRL/TRY
Once the center of the Ottoman Empire, the modern secular republic was established in the 1920s by nationalist leader Kemal Ataturk. Straddling the continents of Europe and Asia, Turkey’s strategically important location has given it major influence in the region – and control over the entrance to the Black Sea. It has double the GDP of Greece and Portugal combined, with a diversified economy and numerous multinational and blue-chip companies having their European head offices there. Turkish Citizenship by Investment Program has been in existence since 2017. In September of 2018, the minimum real estate investment for obtaining Turkish citizenship, was reduced to $250,000 (down from $1M) – making it one of the cheapest CIP’s in the world. Since the reduction, property sales to foreigners have increased by over 150%, mainly, but not restricted to investors from other Muslim majority countries, looking for an alternative citizenship. Turkey is rapidly emerging as a popular destination for investment migration, thanks in part to its low cost of living, rich culture, and great lifestyle. Also, a Turkish passport is one of the most valuable passports in the Muslim world, with visa free travel to 114 countries, and access to the US E-2 Visa.
|Type of Program||Citizenship by investment.|
|Type of Investment’s||
Following 5 options available:
1-Invest in real estate in Turkey with a minimum amount of $250,000 and annotate in the registry that you will not sell the real estate for three years.
2-Invest in Turkey’s funds and REITs with a minimum amount of $500,000 and declare your commitment to keep your investment for at least three years.
3-Make fixed capital investment in Turkey with a minimum amount of $500,000 and declare your commitment to keep your investment for at least three years.
4-Deposit at least $500,000 in a Turkish bank and keep the deposit in Turkish banks for at least three years.
5-Create employment for at least fifty-people, provide them with social security and keep at least fifty employed for a minimum term of three years.
Invest in real estate in Turkey with a minimum amount of $250,000 and annotate in the registry that you will not sell the real estate for three years.
NOTE: Syrians are not allowed to buy real estate in Turkey & can opt for any of the other 4 options for acquiring citizenship.
|Dual Nationality Permitted||YES|
|Capital Gains Taxes||15 – 35%|
|Personal Income Taxes||15-35%. NONE if Non-Resident. NO Global Income Tax.|
|Business & Corporate Taxes||20% of net profits.|
|Property Taxes||One Time Stamp Duty @4.4%. Annual Prop Tax @0.6 -1%p.a.|
|Processing Time||6-8 months.|
|Passport Validity||The first passport issued has a 5 year validity to ensure the applicant meets the 5 day residency for renewal & oath taking Thereafter a 10 year passport is issued.|
|Visa Free Travel||150 Countries|
Copyright @ 2018 Secondpass Global FZE (License: 4895). All Rights Reserved.