The Astons experts specialising in investment migration answer frequently asked questions regarding the Turkish citizenship and explain how a Turkish passport can help you relocate to the UK quickly and cost-efficiently.
I heard I could relocate to the UK with a Turkish passport? Is that true?
Yes. Moreover, many investors join the Turkish Citizenship by Investment Programme (CIP) specifically to relocate to the UK. This is possible because Turkish citizens have a right to move to the UK with a business visa (Turkish Business Person Visa).
You can obtain a Turkish passport – your gateway to the UK business visa and relocation to London – by investing from $250,000 onwards. For the sake of comparison, the UK Tier 1 Investor visa will set you back at a minimum of £2 million.
Wow! So how can I get a Turkish Business Person visa?
First of all, you need to arrange the citizenship of Turkey. Further on, as a Turkish citizen you will be entitled to apply for a UK visa for Turkish entrepreneurs.
Thus, you will need to meet the following criteria:
1. You hold a passport of Turkey
2. You are planning to start a new business in the UK or relocate to further develop an existing business
If you wish to establish your own company, you will need to prove the following intentions to the UK officials:
- You wish to create a viable business
- You will have enough funds to create a business
- You’ll be able to pay your share of expenses for business maintenance
- Your share of revenues will be sufficient to support your family and yourself with no need to look for another job
In case you’re planning to join an existing company or partnership, you’ll need to meet the following requirements:
- You will be actively involved in managing the business
- There is real demand for your services and investment
Does it take a long time to obtain this business visa?
It can be arranged fairly quickly: you have a right to submit a business visa application three months before you enter the UK. You will receive a decision on your application within 12 weeks.
Will I have to pay for it?
No. The business visa for Turkish entrepreneurs doesn’t imply any visa fees.
And how long can I stay in the UK with a business visa for Turkish citizens?
Procuring a business visa, you’ll get a right to live in the UK for 12 months. By meeting certain immigration requirements, you’ll be able to extend the visa for three years and apply for the British residency, and later on – citizenship.
Sounds great! I’m ready to apply for Turkish citizenship right away. What and where do I invest?
The immigration programme of Turkey offers three investment scenarios. Each of them has its benefits.
1. You purchase property for the sum of $250,000 onwards.
In three years, you can sell the property and this won’t in any way affect your citizenship. According to experts, this is the most demanded option among foreign investors.
2. You invest into stock capital of a Turkish company (the investment should be approved by the Turkish Ministry of Industry and Technology). You open a deposit in a local bank at the sum of $500,000 onwards (for the term of three years) or purchase government bonds with an opportunity to receive dividends (the minimum investment term is 3 years).
3. You open a company registered in Turkey and create at least 50 jobs (for the term of three years). In this case, you will need confirmation from the Ministry of Labour and Social Services.
Is it true that Turkish property investment is the most popular scenario for procuring a passport?
Yes. By purchasing property at the sum of $250,000, you will become an owner of an apartment, villa or house in Istanbul, Ankara, Alanya, Antalya, Bodrum or other coastal town in Turkey. Each region has its upsides. Istanbul, for one, is recognised as the oldest and the most attractive property market in the country.
Many investors purchase artist-built apartments and cosy houses planning to yield a rental income (four to six percent, or more, per year). During the last 15 years, foreigners have purchased Turkish property at the cost of over $42 million in total. The leading buyers are citizens of the US and the EU.
Analysts say that now is the best time to invest in Turkish real estate. In 2018, property costs dropped by a great deal, and the current rate of Turkish lira allows for investment on very beneficial conditions.
In 2019, the number of sale-purchase transactions within the Turkish Citizenship by Investment Programme (CIP) has soared by 92 percent. The reason behind this is the reduction of minimum investment by four times – from $1 million to $250,000 – effectuated by the Turkish authorities in 2018. In the course of one year, Turkey has become a leader among CIP providers and of the most popular choices for affluent individuals globally.
Can I purchase property and obtain citizenship for my family as well?
Sure! You have a right to add to the application your spouse and children under 18 years old (children with disabilities can be added to the application regardless of age).
Good. How long will it take to obtain a Turkish passport?
You will get the citizenship of Turkey in 60 days after the investment process is complete (this is very fast compared to other immigration programmes). Please make sure that you’ve opened an account and transferred the funds before making the investment.
What does the entire process look like? What do I start with?
Don’t worry! The highly experienced lawyers of Astons having a 30 years track record and impeccable reputation will help you find the best fitting property and make a beneficial sale-purchase deal. They will also guide you through the entire immigration process: from application to passport collection.
The Astons experts provide comprehensive services for individuals seeking a second citizenship. The company’s competitive advantage is the fact that our clients always get the visas and passports of the countries running Citizenship by Investment Programmes. This result is possible due to the two-factor checkup of all documents performed by the Astons specialists. They submit the documents only if they are 100% sure that the visa or citizenship will be granted successfully.
The immigration process within the Turkish CIP comprises the following stages:
1. You consult an investment immigration specialist. Together with the expert, you choose the optimal investment option based on your budget, business and personal goals.
2. Hand in hand with experienced immigration lawyers, you collect all required documents. The Astons experts will help you prepare them and will run multiple document checks before submitting the application.
3. You make the investment according to the programme conditions.
4. You receive a residence permit and file an application for citizenship.
Based on the programme conditions, you’ll be granted a residence permit right after you make the investment (Turkey has no physical residency requirements). Once you hold a Turkish residence permit, you’ll be able to immediately apply for citizenship.
Which documents will I need for the Turkish passport application?
You will need the following documents:
1. Valid passport – notarised and translated into Turkish
2. Birth certificate
3. Four passport photos (for every family member on the application)
4. Marriage certificate (if you immigrate with a spouse)
5. Children’s birth certificates (if you immigrate with children)
6. Copy of the Turkish ID and address of the applicant’s relative in Turkey (if any)
7. Fee payment slip
8. Documents proving investment
9. Residence permit or a valid tourist visa to Turkey.
Looks simple. Will I have to pass any exams to get the Turkish citizenship?
No. The Turkish immigration programme does not imply any interviews. Nor any culture or history exams.
Will I have to go to Turkey for processing the documents?
No. You can make the passport application remotely – your presence will not be required. Turkey has no physical residency requirements either before or after procuring the citizenship.
I think I’ve made my decision regarding the Turkish passport. Please tell me more about its benefits.
Turkish citizenship offers multiple perks. With a Turkish passport, you enjoy visa-free travel to 115 countries, including Japan, Singapore and South Korea.
Foreign investors arrange Turkish citizenship for various purposes. Some are interested to relocate to the UK, others aim to purchase property in Istanbul or the coastal towns to live or rent out. Yet others are attracted with the investment and business prospects or Turkey’s relaxed taxation system.
The Turkish passport allows individuals to relocate not only to the UK, but also to the US. Turkish nationals have a right to obtain the US E-2 business visa, followed by a EB-5 immigration visa and the green card.
Astons is a leading global immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including UK, Turkey, Vanuatu, EU & the Caribbean.
For further information or to discuss your personal circumstances in a private consultation, please contact Astons at [email protected] or call +44 207 292 2977