CITIZENSHIP GALAXY

Core Requirement: The USD 400,000 Threshold

The fundamental condition for this program is the purchase of real estate with a minimum value of USD 400,000 or its equivalent in Turkish Lira or another foreign currency. This value was increased from $250,000 in 2022 and remains the current standard.

Key Conditions for the Investment:

1. Three-Year Holding Period: An annotation must be placed on the property's title deed (Tapu), stating that it cannot be sold or transferred for a minimum period of three years. The generated photo above visually demonstrates this with a "SATILAMAZ ŞERHİ" stamp on the documents. After this period, the investor is free to sell the property while retaining their Turkish citizenship.
2. Official Valuation: The value of the property is not determined by the sale price alone. An official valuation report from a Capital Markets Board (SPK) licensed firm is mandatory. The report must confirm the property's value is at least USD 400,000.
3. Full Value on Title Deed: The full purchase price of at least USD 400,000 must be officially declared on the title deed. Under-declaring the value to lower taxes will disqualify the investment for citizenship application.
4. Documented Transaction: The payment must be made via bank transfer from the buyer's account to the seller's account. A Foreign Exchange Purchase Certificate (Döviz Alım Belgesi - DAB) is required to prove that foreign currency was converted into Turkish Lira for the transaction.

Step-by-Step Process

1. Preparation & Property Search:
   • Obtain a Turkish Tax Identification Number.
   • Open a bank account in Türkiye.
   • Locate a qualifying property (residential, commercial, or land) that meets the value and legal requirements. Conducting due diligence to ensure the property is free of encumbrances is crucial.
2. Purchase & Valuation:
3. Commission an SPK-licensed valuation report.
4. Complete the sale, ensuring the payment is made via bank transfer and a DAB is issued.
5. Register the property in your name at the Land Registry Office, including the three-year non-sale annotation on the title deed.
6. Certificate of Conformity: Apply to the Ministry of Environment, Urbanization and Climate Change for a "Certificate of Conformity," which officially verifies that your investment meets all the criteria for the citizenship program.
7. Residence Permit Application: Once the certificate is obtained, apply for a short-term residence permit (labeled for investment purposes) for yourself and your family.
8. Citizenship Application: With the residence permit in hand, you can submit the final application for Turkish citizenship to the Directorate General of Population and Citizenship Affairs.

Who Can Be Included?

The main applicant can include the following family members in the same citizenship application:

• Legal spouse
• Dependent children under the age of 18

Benefits of Turkish Citizenship

• Global Mobility: A Turkish passport provides visa-free or visa-on-arrival access to over 110 countries.
• Right to Live, Work, and Study: Enjoy the full rights of a Turkish citizen, including access to the national healthcare and education systems.
• No Residency Requirement: There is no obligation to reside in Türkiye either before or after obtaining citizenship.
• E-2 Visa Eligibility: Turkish citizens are eligible to apply for the USA's E-2 Investor Visa, which allows for residency in the US through a business investment.
• Return on Investment: After the mandatory three-year holding period, investors can sell their property, potentially realizing a capital gain, while keeping their citizenship for life.

Disclaimer: Laws and regulations can change. It is highly recommended to consult with a qualified legal professional specializing in Turkish citizenship and real estate law to navigate the process effectively and ensure compliance with the latest regulations.

This article outlines the current legal framework, requirements, and step-by-step process for obtaining Turkish citizenship through this investment channel.

1. The Core Investment Requirement

The fundamental rule, governed by the Regulation on the Implementation of the Turkish Citizenship Law, is a minimum capital investment of USD 500,000 (or its equivalent in Turkish Lira or another foreign currency).

• Eligible Assets: The investment must be made into shares of either a Real Estate Investment Fund (Gayrimenkul Yatırım Fonu - GYF) or a Venture Capital Investment Fund (Girişim Sermayesi Yatırım Fonu - GSYF).
• Holding Period: A critical condition is that these fund shares must be held for a minimum of three years. This commitment is officially annotated in the records of the Central Securities Depository (Merkezi Kayıt Kuruluşu - MKK), preventing their sale or transfer during this period.
• Regulatory Oversight: The entire process is overseen and attested by the Capital Markets Board of Turkey (Sermaye Piyasası Kurulu - SPK), ensuring transparency and compliance.

2. Understanding the Investment Vehicles

• Real Estate Investment Fund (REIF): As defined in the context of the program, a REIF is a professionally managed pool of capital that invests primarily in real estate assets, real estate development projects, and real estate-based capital market instruments. Investors buy shares in the fund, which in turn owns and manages the underlying income-generating properties. This allows for diversification and professional management, removing the burden of dealing with tenants, maintenance, or individual property taxation.
• Venture Capital Investment Fund (VCIF): These funds invest capital into early-stage or growth-oriented companies (startups, scale-ups) with high growth potential. While higher risk, they offer potentially higher returns and contribute to the Turkish entrepreneurial ecosystem.

3. The Step-by-Step Application Process

Step 1: Preparation & Investment

1. Tax ID & Bank Account: The investor must obtain a Turkish Tax Identification Number and open an investment account with a bank or intermediary institution in Türkiye.
2. Fund Selection & Purchase: Working with licensed investment advisors or banks, the investor selects suitable REIFs or VCIFs.
3. Execution: The investment of at least USD 500,000 is made. Crucially, a Foreign Exchange Purchase Certificate (Döviz Alım Belgesi - DAB) must be issued by the bank, proving the foreign currency was converted into Turkish Lira for the investment.

Step 2: Obtaining the Conformity Certificate (Uygunluk Belgesi) This is the most critical step. The investor or their legal representative must apply to the Capital Markets Board (SPK) Intermediary Activities Department to obtain a certificate confirming that the investment meets the citizenship criteria.

• Required Documents for the Application:
  • A written application letter containing the investor's full name, date of birth, foreign identity number (if any), address, contact information, and MKK registration number.
  • Detailed information regarding the investment funds owned (fund codes, amounts, dates).
  • A clear copy of the investor’s passport.
  • If applying through a proxy, a specially drafted power of attorney (POA) that explicitly authorizes the representative to carry out all procedures related to the citizenship application based on fund investment.
• SPK Action: Upon review, the SPK will instruct the MKK to place a "block" on the fund shares, ensuring they cannot be sold for three years. Once this is confirmed, the SPK issues the Conformity Certificate.

Step 3: Residence Permit & Citizenship Application

1. Investor Residence Permit: With the Conformity Certificate in hand, the investor applies for a special short-term residence permit (Type E, per Article 31/1-j of the Law on Foreigners) for themselves and their eligible family members (spouse and children under 18).
2. Final Citizenship Application: Once the residence permit is granted, the complete file is submitted to the Directorate of Population and Citizenship Affairs for final processing and Presidential approval.

Benefits of the Fund Investment Route

• Professional Management: No need to deal with property maintenance, tenants, or complex real estate transactions.
• Speed & Simplicity: Often faster and requiring less paperwork than buying physical properties.
• Potential Returns: Exposure to the professional real estate or venture capital markets in Türkiye.
• Secure & Regulated: The process is tightly regulated by the Capital Markets Board, providing a high degree of security for the investor.

Disclaimer: Investment laws and regulations can change. It is highly recommended to consult with qualified legal and financial professionals in Türkiye to ensure compliance with the most current legislation.