Turkey is an optimal location for residing and starting your business, and the significant reasons for the same are its cheap labor and real estate. Now even the government is providing multiple benefits like incentives and fast visa providing policy to the people who have their real estate in the country. These policies make it easier to lure foreign trade into the country. Turkey is a country that provides efficient trade and development opportunities.
Benefits Of Turkish Citizenship
There are various benefits which come along with Turkish citizenships which are listed below. You can visit this site to buy property in Turkey and get residency.
- 110 nations have visa-free travel agreements with Turkey. These nations accept their nationals without restriction. Holders of Turkish passports are eligible for a 10-year combination B-1/B-2 visa for travel and business. Turkish nationals are eligible to apply for a 5-year C-2 Schengen visa. Passport holders are always permitted entry, even when the frontiers are sealed.
An E-2 visa can be obtained by an investor with a Turkish passport who wants to live and operate a business in the USA. The individual’s spouse and unmarried children below the age of 21 are also granted visas.
- Operating a business in Turkey has certain advantages. In Turkey, there are 18 free zones. Investors who establish businesses in the free zone can take advantage of tax exemptions and other benefits. Four investment incentive plans provide various forms of assistance. Turkey struck a double taxation avoidance agreement with 82 nations, including Pakistan, India, and China. You won’t be required to pay taxes to both governments if you are a national of one of these nations.
- Due to its location on the Mediterranean Sea, the nation’s residents may nearly always swim and breathe the sea air. Asia and Europe both border Turkey. Many highways and railroads connect European and Asian nations.
Turkey is well known for its delicious, wholesome food. Turkish nationals are often hospitable and kind and treat visitors with respect. Turkey is one of the least expensive nations in Europe and the most affordable in the Middle East. The average monthly cost of living in Turkey is between $1,000 and $1,500.
- Not only investors can obtain Turkish citizenship through investing. Close family members, such as spouses and young children under 18, are also eligible. Turkish resident permits can be obtained by an individual’s parents and children above 18. Turkish citizenship is automatically conferred on children who are born to Turkish citizens. Turkish citizenship by investment applicants is exempt from taking the history and language tests. They do not also need to reside in Turkey.
- Turkish nationals are permitted to hold two citizenships. It implies that investors are not required to give up their original citizenship. Considering that holding dual nationality with Turkey may be restricted by other nations. An investor can become a citizen of Turkey without traveling there because you can complete the procedure online. During the 6- to 8-month process, the applicant should provide financial and personal records. A program agent does all of the other tasks.
Ways To Avail Turkish Residency
The first thing you must realize is that if you intend to purchase real estate or own a home in Turkey, you must file for a residency visa within one month of your arrival. The maximum investment would be $250,000 USD if we were to talk about it. You only need to show that you possess the means to support yourself financially in the country and that you are the owner of a property or run a business.
There is no required minimum investment for residence. Following the purchase of the property, the residency permit is valid for a year before being renewed for an additional five years. Select the sort of residency permit you wish to apply for, and then fill out the online form at https://e-ikamet.goc.gov.tr, the site of the Turkish Interior Ministry. You must include your first and last name, birthdate, parents’ names, nationality, and contact information.
Types Of Residency Permits
- Short Term Residency Permit (Maximum 2 Years) for Business Establishment, Tourism, In-Service Training, etc.
- The foreign spouse of a Turkish citizen, their minor children, and their dependent foreign kid are all eligible for a family residence visa, valid for three years.
- If you want to enroll in any educational program in Turkey, you may apply for a Student Residence Permit for the duration of the course.
Permit for long-term residency (Indefinite validity) you can request a long-term Turkish permit with unlimited validity if you have continuously lived in Turkey for a minimum of eight years.
Humanitarian Permit to Reside (Maximum 1 year) If you are in Turkey without needing a valid visa or residence permit, you may apply for this permit. Still, even in an emergency, you cannot leave Turkey without being deported.
For victims of trafficking, a residence permit (30 days) can apply for this residency visa if you are a victim of human trafficking and are currently in Turkey.
Application for a residence permit, together with four biometric photos, is a requirement, a genuine passport, a copy of the passport or other travel document that has been notarized, and evidence of sufficient and long-term financial resources verification of health insurance.
A real estate expert is required if the property is not held by the government, even though any foreigner can purchase real estate in Turkey.A Turkish lawyer can assist in making sure real estate investment is risk-free, national Tax ID is required for anybody interested in investment-based Turkish residence. The State Tax Department produces this kind of paper.
As part of the application, family members, including the wife and kids, also acquire residence permits.
Some of the documentation needed for permanent resident status by investment in Turkey includes a valid passport, a title deed, earthquake insurance for the property, and health insurance.These are a few of the procedures for obtaining Turkish residency through investing.