Globevisa Celebrates Another Wave of Twelve Clients Obtaining Turkish Citizenship

Since February 2023, Turkey’s Citizenship by Investment program has undergone several changes. In January this year, new requirements were added, including a criminal record certificate and an in-person visit requirement. These changes were even applied retroactively to clients who had submitted their applications before the changes were enacted, leading to a period without any approval news. However, with the conclusion of Turkey’s local elections at the end of March and the end of the Ramadan holiday in April, Globevisa finally has good news. By the end of May, 12 groups of clients had successfully received approvals and obtained citizenship in this EU country.

Among these 12 groups of clients, the earliest application was submitted in July last year, while the latest was submitted in December. Some clients, due to the new policies, were required to resubmit criminal record certificates and travel to Turkey for fingerprinting. Others were fortunate enough not to face retroactive requirements. Currently, all 12 clients are single applicants. Globevisa consulted with local lawyers and received feedback that the new policies mainly increased the requirements for spouses’ citizenship applications. Therefore, the government might be starting with the simpler single applications. This likely indicates the end of the retroactive requirements. We look forward to more approval news in the near future.

The Turkish Citizenship by Investment program is the most cost-effective option for obtaining citizenship through a straightforward process. There is no need for donations, language proficiency, educational qualifications, and no residency requirements. Applicants only need to deposit $500,000 in a local bank account for three years or purchase real estate worth at least $400,000 and hold it for three years. After three years, the deposit can be withdrawn, and the property can be sold without affecting the citizenship status. Additionally, the deposit offers high interest rates, up to 6% annually, and the real estate market boasts the highest global growth rate of 132.8%. The application process costs as low as $0 and takes only 6-8 months, allowing the entire family to obtain a quasi-EU country’s passport at no cost.

Once granted citizenship, individuals can travel to 125 countries, open offshore bank accounts, and support their children’s international education. Whether for securing an alternative citizenship, facilitating travel, investment planning, or children’s education, Turkey meets various needs. Due to its high cost-effectiveness, the program has gained immense popularity and has seen a surge in applications from major countries like the UK, USA, and Russia, quickly becoming the most sought-after citizenship program worldwide.

For personal businesses with overseas operations that require frequent travel to Japan, Korea, and other regions, Turkey offers visa-free access to Japan, Korea, Singapore, Malaysia, Thailand, and many other Southeast Asian countries, meeting your travel needs. When it comes to children’s education and providing an international learning environment, Turkey is highly regarded among international schools. This ensures that children can study in the UK, the US, or other countries in the future, and also qualify as international students at top domestic universities. For those who already hold a green card from another country but seek another significant nationality for privacy protection and banking needs, Globevisa offers a “simplified mode” with full overseas certification and submission, maximizing privacy protection for clients. Turkey is on both the OECD and EU white lists, recognized by banks, making account opening easy and fast. For those who prefer stable and low-risk investment projects, the Turkish deposit-for-citizenship model supports opening an account with Turkey’s largest bank, ensuring better fund security. This investment yields interest while also granting Turkish citizenship.

Additionally, a special case from Globevisa involves a Russian client, who, due to the Russia-Ukraine war, wanted a backup nationality. He chose the Turkish deposit option, which required a personal account deposit of $500,000 for three years. This was the most cost-effective solution, allowing him to obtain a backup nationality at zero cost.

Globevisa was among the first to introduce the Turkish citizenship program to the market in 2019. To better serve our clients, we established a Turkish firm with in-house immigration lawyers and local colleagues. Thanks to the good relations and communications with the local government, we has been able to secure continuous approvals for our clients.