LEGAL NOTE on “Citizenship By Investment ” in TURKEY

December 2022, Istanbul

CHAPTER 1: TURKEY & FACTS

Why Turkey?

Turkey is visited by thousands of people from all around the world every day. Turkey holds
great wealth like natural beauties, cultural values, historical structure, and geographical
advantages. Turkish passport and Turkish Citizenship are very important terms for many
foreigners. Obtaining Turkish Citizenship and a passport is very easy nowadays. Foreigners may
gain Turkish Citizenship and passport with the occasion of buying a property or making an
investment in the requested amount. You may travel to 72 countries with Visa-Free and 7
countries with an e-Visa when a Turkish passport is obtained.

Opportunities

Location: There are different cultures, different religions, and various languages in the country
because Turkey is a bridge between Asia and Europe sides. This country has an important
strategic position, geographical advantages, historical value, economic growth, and cultural
richness. Turkey is a country that is visited by foreign people every period thanks to its natural
and historical beauties and the convenient climate for winter and summer tourism. Many
foreigners prefer to invest or buy property in Turkey.

Geographical and Strategic Value: The geographical and strategic position of the country is
much more valuable than in other countries. The existence of Bosphorus has been an important
privilege in every period. Turkey, which is a bridge between Europe and Asia, has provided a
functional role in the trade route. Turkey has also a global strategical position.

Climate: Turkey has a maritime climate due to the country being geographically positioned
between the Mediterranean Sea, Aegean Sea, Black Sea, and Sea of Marmara surrounding it
from 3 sides. In the winter the weather is warm and soft. Winter and summer tourism has
developed almost anywhere in the country due to climate conditions.- In this way, Turkey attracts
tourists, property buyers, and investors from all over the world.

Beauties and Facilities: Spectacular seas, clean and sandy beaches, walking paths on coastlines,
pure forests, natural lakes, great valleys, glorious waterfalls, and stately mountains are unique
natural beauties in Turkey. Many tourists come to Turkey from all around the world for the
witness this unique beauty. Luxury famous hotels, entertainment places, historical places,
cultural centers, and rich traditional and modern restaurants draw attention with generally
affordable prices.

Economic Structure and Foreign Investment: Turkey is following technological

improvements in the world and strengthening its economy day by day. The state works hard to
ensure decisive growth in the economy. Already, globally-known Turkish companies
demonstrate that the economy is growing fastly each passing day. New companies and new
workspaces with the support of the government also invigorate Turkey's economy. The Turkish
government supports foreign investors and buyers in the country and makes it easier for them to
invest. Nowadays, the Turkish Government provides many conveniences in the matter of
Turkish citizenship.

Advantages of the Turkish Passport

In 2021 according to Henley Passport Index, Turkey is ranked globally 38th country with 114
points on the visa-free travel index. People can visit 72 countries without visas Some of these
countries are Qatar, Singapore, Tunisia, Jordan, Iraq, Japan, South Korea, Malaysia, Hong Kong,
Indonesia, Belarus, Bosnia, Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia,
South Africa, Thailand, Northern Cyprus, Ukraine, Uruguay, Morocco, Brazil, Argentina,
Kuwait, Bahrain, Lebanon and most of the African countries.

Turkish passport supplies to enter 42 countries with a visa on arrival. Visa on arrival is taken at
the airport without applying previously. Holders of the Turkish passport can travel to 7 countries
with electronic authorization or an online visa (eVisa) and have easy entrance rights to 26
Schengen Zone Countries thanks to the Turkish passport in reference to the report of Henley.
This passport provides you with free education and university refund plans. When you have this
passport, you can benefit from pension programs like a Turkish citizen. You have the right the
vote in all types of elections.

With the decision of the competent authority, the acquirement of citizenship will be the verdict
on the date of the decision. Persons become vested citizens and they have the same rights as
natural-born citizenships, yet; liabilities will start after the notification of the decision.

According to the guideline Article 74, foreigners may choose a Turkish name and surname but
they may use their names just in case it shall be beneficial to the law regarding the Acceptance
and Application of the Turkish Alphabet.

Types of Turkish Passports

• Special passport, which has a green color: Top government officials.

• Ordinary Passport, which has a red color: Turkish citizens’ passport. Foreigners may gain
ordinary passports via citizenship.

• Service-stamped passport, which has a grey color: Public officials, journalists, etc.

• Diplomatic passport, which has a black color: Diplomats and ambassadors

The Turkuaz Card Programme

A person who is a citizen of two different nations at the same time has dual citizenship. Turkey
permits dual citizenship.

You may benefit from the Turquoise Card program if you live in a country that does not allow
dual citizenship. Turkuaz Card offers you to benefit all of the rights in Turkey. Only, you don't
have the right to vote and stand for election in Turkey.
CHAPTER 2; INVESTING IN A PROPERTY IN TURKEY

The Prosperity of the Real Estate Market in Turkey

Starting from 2012, the Turkish real estate sector witnessed a huge boom in real estate market
activity following the structural changes made by the Turkish government to allow citizens of
183 countries to buy real estate inside Turkey in order to attract more foreign buyers. This was
reflected in the definition of the real estate sector itself where wide prospects for investment in
Turkey have been opened!

Between January 2013 and August 2022, foreigners purchased a staggering 323,522 residential
properties, 70% of which stem from the period between January 2018 and the third quarter of
2022.

2022 is set to break the already-loy 2021 record; residential property sales to foreigners in
Turkey climbed 54.9% YoY in February of this year. The nal quarter of 2022, which historically
is the busiest time of the year for the Turkish housing market, remains to be counted, so we can
expect the growth trend to continue.

What makes the matter more noteworthy is the internationally diverse composition of home
buyers. No single major investor group dominates the market, and investors from every
imaginable locale are taking part.

Since 2013, Iraqis have been the largest buyer group, accounting for about 16%, followed by
Iranians at 11.7%, and Russians at 8.9%. This distribution is far from constant. Considering 2022
in isolation, for example, Russians have been the largest cohort with 22% of all purchases, while
Germans are among the top ve. 2021 saw UK nationals among the top four, while Saudi Arabia
had the second largest share are Iranians. House purchases in Turkey by Americans in 2021 went
up a whopping 127%, exceeding the total of the two years prior.

Demand is genuinely global.

Turkey itself remains a significant attraction; pleasant weather, first-rate food, a diverse culture,
and a high standard of living. Such features go a long way toward explaining the increase in
foreigners visiting Turkey

By comparison, Portugal’s housing market, buoyed by the Golden Visa, saw a 12.9% increase,
Greece mustered 9.2%, and the UK achieved a 9.9% increase.

In purely numerical terms, arbitrage gains in Turkey’s housing market are virtually unmatched
and provide excellent value for money.

Turkey’s average house price per sqm is around 9,000 TL, which translates to anywhere between
500-700 USD on average due to the TL’s constant UX. In Istanbul, prices per sqm have an
average of 1,051 USD.

Compared to Portugal, where the average residential property price is 1,454 EUR per sqm, or the
UK (not London, but the whole of the UK) where a square meter of property would average
3,000 GBP, Turkey offers a clear advantage in terms of getting greater value for money.

What are the strengths of the real estate sector in Turkey?

It is well known that Turkey has achieved much in this respect, and from the world's unique
infrastructure projects: Istanbul New Airport and Istanbul Canal Project.

The development of the real estate sector concept has been based on several factors, including:

● Strong and sophisticated infrastructure in Turkey.

● Appropriate legislation, investment, and banking.
● Continuous government support for foreign investors.
● Turkey's high population (over 82 million).
● Turkey ranks as one of the world's most attractive tourist destinations.

Legal Restrictions on Acquisition of Real Estates by Foreigners

In accordance with Article 35 of the Land Registry Law No. 2644, amended by Law No. 6302,
entering into force on 18th May 2012, the condition of reciprocity for foreigners who wish to buy
property in Turkey is abolished.

Turkey, therefore, allows citizens of 183 States to purchase real estate property in Turkey without
being subject to any reciprocity principles. Citizens of such 183 countries are eligible to obtain
real estate property and related rights subject to the below listed general limitations:

● The surface area of the real estate properties subject to foreign ownership or other limited
property rights (including mortgages) shall not exceed ten (10%) percent of the
administrative district area for all foreigners where such real estate is located at. The
Council of Ministers is also authorized to double such limits if necessary;

● The surface area of the real estate property shall not exceed thirty (30) hectares (30 ha is
approximately 300,000. - m² or 3,223,000. - ft²) per foreign individual all-around Turkey.
The Council of Ministers is also authorized to double such limits if necessary;

● The subject real estate shall not be located in a military forbidden or security zone. This
clearance is provided by the title registry offices and is a standardized system.
CHAPTER 3; TAX IMPLICATIONS IN THE REAL ESTATE INDUSTRY &
OBTAINING TAX NUMBER

Real Estate Taxes System in Turkey

1. Property tax
The real estate tax is taken by calculating the value of the property and determining the ratio of
the property tax to which it belongs.

These percentages vary between big and normal cities in Turkey, reaching 2 per thousand in
major cities and 1 per thousand in normal cities. 4 per thousand shops in major cities, and 2 per
thousand shops in normal cities.

2. Corporate Profits Tax

If the owner of the property is a company, this tax is imposed on the net profits of companies that
are obtained from real estate transactions and rental income with a ratio of 20%. This includes
capital gains.

3. Income Tax

If the landlord is an individual, individuals who earn income from rental property are required to
pay an income tax that gradually increases from 15% to 35%.

4. VAT on Real Estate

The VAT is imposed on the type of products or services provided, varying in percentages from
1%, 8%, and 18% according to specific segments.

1% is imposed on the real estate used for housing, which is less than 150 square meters, while
the rest of the property is 18%.

Real Estate Ownership Fees in Turkey

This fee is paid in the form of property purchase costs in Turkey and imposed on both parties
(seller and buyer) by 2%.
Obtaining a Tax Number in Turkey

A tax number is the essential ID number for each registration and financial transaction in Turkey.
A Tax Identification Number is a ten-digit number assigned to individuals.

Foreigners should have a tax number for; opening a bank account, buying a property, subscribing
to utility services, issuing insurance, getting health services, doing notarial processes, applying
for residence permits, etc.

Getting a Tax ID number is an easy application. You should go to any local tax office and apply
for it. The only documents you need for this transaction are “your original passport” and "copy
of your passport". Registration is free of charge. After registration, your tax number is also
monitored on the screens of all Turkish financial institutions including banks, which means you
will be able to open a bank account, too.

This transaction usually takes around fifteen minutes. After you receive your tax ID number, you
can open your bank account and carry out your official transactions.

FAQ About Obtaining a Potential Tax Number in Turkey

Q: Where can I get a Potential Tax ID number?

A: There are tax offices in every city and district in Turkey, you can get a tax ID number by
going to one of them.

Q: Why is the Tax ID Number necessary?

A: It is your unique registration number that will be used in all registration applications in your
daily life in Turkey. You must have a tax ID number for buying and selling processes and
financial transactions including:

• Opening a bank account,

• Title deed transactions,

• Power of attorney transactions,

• Residence permit application,

• Insurance,

• All sorts of tax payments,

• Water and electricity subscriptions.

Q: Is there a cost to obtain a tax ID number in Turkey?

A: No. You can get a tax number without any cost in Turkey.

Q: Can I get a tax ID number in Turkey if I go to the tax office on my own?

A: Yes. However, Antalya Homes customers do not need that. It is a part of our free after-sale
services.

Q: What happens if I lose my tax ID number?

A: You can have it reprinted by going to the tax office.

Q: How long is a tax ID number valid?

A: You can use your tax number without a time limit once you obtain it.

Q: Do I need to pay tax if I get a tax number?

A: Getting the tax number is free of charge. You pay these property-related taxes; like income
tax, annual property tax, and conveyance tax.
CHAPTER 4: OPENING A BANK ACCOUNT IN TURKEY

The opening of a Turkish bank account from abroad will be determined by the kind of
account you wish to create and whether or not you already have a Turkish residency permit. The
main banks mentioned below provide banking products to both local residents and foreign
customers and can explain the choices and procedures accessible to you.. The entire procedure
takes about one hour or less and can also be made online on the official bank websites. There are
many important banks in Turkey and people can choose from national institutes like Ziraat Bank,
Halk Bank, Is Bank, Akbank, Garanti, Yapikredi, and Denizbank, or from foreign banks with
branches in the country, like ING, Citibank, HSBC, or KuveytTurk, Eurobank Tekfen.

Foreigners can open bank accounts in Turkey, helped by a Turkish lawyer who will take care of
all the procedures involved. There is no need for you to travel to Turkey.

The documents needed for foreigners to open a bank account in Turkey differ in three ways:

1. Documents needed for foreigners who reside in Turkey:

● Residence or work permit or temporary protection ID,

● Address document (utility bill, rental contract, or ID register copy).

2. Documents needed for foreigners who do not reside in Turkey:

● The potential tax number is taken from the tax office,

● Valid passport,
● Translated copy of an official document shows the address (utility bill etc) The utility bill
can be either from Turkey or your home country. It has to be within the last 3 months and
have your name spelled clearly and correctly on it.
● Having someone within Turkey will be delivered the Power of Attorney issued by the
Turkish Consulate abroad.

3. Business owners who need a bank account for their company:

Companies are needed to obtain a tax identification number to open a bank account in Turkey.
For the Tax ID number, the company’s Articles of Association, a filled application form, and
proof of the registered address of the company is needed. Corporate bank accounts can only be
opened by a director with signing authority. These documents also must be submitted to the local
bank:

● Tax ID number,
● The company’s Articles of Association,
● Application form,
● Proof of the registered address of the company.
CHAPTER 5: TURKISH CITIZENSHIP BY INVESTMENT

"Turkish Citizenship by Investment Program" was first introduced on 12.01.2017 and scope and

amounts determined as per the new regulations published in the Official Gazette dated May 13,

2022, numbered 31834, the Regulation on the Implementation of the Turkish Citizenship Law

(the "Regulation") has been amended.

Foreigners who meet any of the following criteria may be eligible for Turkish citizenship, subject

to the decision of the President of the Republic of Türkiye:

● Making a minimum fixed capital investment of USD 500,000 or equivalent foreign

currency, as attested by the Ministry of Industry and Technology

● Acquiring a property worth a minimum of USD 400,000 or equivalent foreign currency

with a title deed restriction on its resale for at least three years, as attested by the Ministry

of Environment, Urbanization, and Climate Change

● Creating jobs for at least 50 people, as attested by the Ministry of Labor and Social

Security

● Depositing a minimum of USD 500,000 or equivalent foreign currency in banks

operating in Türkiye with the condition that it is not withdrawn for at least three years, as

attested by the Banking Regulation and Supervision Agency

● Buying government bonds worth a minimum of USD 500,000 or equivalent foreign

currency with the condition that they are not sold for at least three years, as attested by

the Ministry of Treasury and Finance

● Buying real estate investment fund shares or venture capital investment fund shares worth

a minimum of USD 500,000 or equivalent foreign currency with the condition that they

are not sold for at least three years, as attested by the Capital Markets Board of Türkiye
 ● Depositing a minimum contribution of USD 500,000 or equivalent foreign currency in

funds determined by the Insurance and Private Pension Regulation and Supervision

Agency with the condition that it remains in the private pension system for at least three

years, as attested by the Insurance and Private Pension Regulation and Supervision

Agency​

(*)As per the latest amendments on 6th January 2022; “Opening of a Turkish Bank
Account Has Been Made Mandatory”

The Turkish Citizenship by Investment Programme has been amended by a regulation published
in the official government gazette on the 6th of January 2022. As per the new regulation (31711),
it has now become mandatory to open a bank account in Turkiye in order to exchange the funds
being used for the investment into Turkish Lira before applying for citizenship.

The Central Bank of Turkiye obliges the exchange of foreign currency in transactions when

foreign buyers are involved. According to the regulation, the details of which are explained in

the circular texts, foreigners will first have to sell their foreign currency to the Central Bank

through a bank transfer and then submit the “Foreign Exchange Purchase Certificate” issued by

the bank to the land registry office and it became mandatory to submit a foreign currency

purchase document in real estate acquisitions by real foreign persons.

The exchanged amount stated in the foreign currency purchase document will be taken as the

official value of the property. Although the foreign currency exchange document is sufficient in

sales transactions, it will also be necessary to submit the bank transfer receipt from the buyer to

the seller regarding the acquisition of Citizenship through a real estate investment program.

(*) As per the amendments on 22nd March of 2022; “it has been determined that only one
foreigner can apply for citizenship over the same real estate property.”
As per the amendments that were made to Regulation No. 2019/5 on the implementation of
Turkish Citizenship on 22.03.2021. Additional measures were made to the provisions in the
regulation, and the provisions entitled " transactions between foreigners " were reorganized. The
same real estate or real estate share cannot be subject to citizenship acquisition again after
acquiring Turkish citizenship through sale or promise to sell. With this change, it has been
determined that only one foreigner can apply for citizenship over the same real estate property.

These amendments impact those investors who want to deposit at least $500,000 US dollars into
a bank for three years by the fact that the funds will be kept in Turkish Lira. On the other hand,
investors purchasing Turkish property will no longer be able to transfer the amount directly to
the seller's account from an overseas bank account. It will now be obligatory to first open a bank
account in Turkey, deposit the funds, and the bank will exchange the foreign currency into

(*) As per the amendments on 13th May of 2022; “Minimum Investment Requirement for
Real Estate Acquisition Has Been Increased and A New Method of Investment for
Acquiring Turkish Citizenship Has Been Introduced”

.”​​As per the Official Gazette dated May 13, 2022, numbered 31834, the Regulation on the
Implementation of the Turkish Citizenship Law (the "Regulation") has been amended.

1) Minimum Investment Requirement for Real Estate Acquisition Has Been Increased

The amendments have increased the minimum investment requirement for obtaining Turkish

citizenship through real estate acquisition from USD 250,000 to USD 400,000. Please note that

the amendment is to enter into force 1 month after its publication. Therefore, starting from June

13, 2022, foreigners who would like to obtain Turkish citizenship through real estate acquisition

will need to make an investment of USD 400,000 minimum.

2) A New Method of Investment for Acquiring Turkish Citizenship Has Been Introduced
In addition to the aforementioned change, the amendments provide a new method of investment

for those who would like to acquire Turkish citizenship by investment. As per the relevant

provision, foreign citizens who invest a minimum of USD 500,000 or an equivalent amount of

foreign currency to the private pension system, provided that they invest such amount in the

funds determined by the Insurance and Private Pension Regulation and Supervision Agency

("Agency") and stay within the system for at least for 3 years, will be eligible to acquire Turkish

citizenship.

Please note that, prior to investing the amount in the private pension system, the foreign currency

investment brought in by the applicant will be converted to Turkish Lira by the Central Bank.

Applicants may complete this process by simply contacting a bank operating in Turkey.

Following the exchange of currency, the investment amount has to stay invested in the funds

determined by the Agency for 3 years.

The advantages of this program are summarized below:

● The applicant can keep the investment and its regular income & acquire citizenship at the

same time.

● Some of the benefits are visa-free travel to more than 100 countries, full health coverage

for the whole family, a pension program, free education at public schools and

universities, allowing multiple citizenships, etc.

● No need to donate any specific funds to the government

● No exam or complex procedures.

● Open to almost all nationalities in the world.

All the procedures for the exceptional acquisition of Turkish citizenship can be provided by the

full assistance of a Law Office such as:

 ● Preparing the promissory agreement. Providing legal advice for the real estate investment

implications.

● Applying for VAT Exemption Document, when applicable.

● Appraisal Report.

● Obtaining Tax ID number.

● Opening a bank account.

● Title Deed exchange.

● Annotation in the title deed

● Certificate of Conformity application.

● Preparation and submission of the residence permit application.

● Tax payments.

● Submission of citizenship application for the investor and family members

● Translation and notarization of foreign documents.

Step by Step The Citizenship By Property Investment Process

The process can be separated into 4 steps. Below, you can see the documents that you will need

to provide in each process of the program.

1ST STEP - VAT EXEMPTION CERTIFICATE, PURCHASE AGREEMENT, AND

TITLE DEED EXCHANGE:

When buying a newly developed real estate property, some projects are located in areas where

the VAT fluctuates from 1%-18% of the value of the property.

If you wish to save the VAT, before we proceed with the Title Deed exchange we will need to

apply for the VAT exemption certificate that allows non-resident foreigners buying first-hand

properties in Turkiye to be exempted to pay VAT.

For that, we will need the following documents:

-
 ● Duly notarized and legalized Power of Attorney in favor of our lawyers’ team. The

template will be provided as well as the instruction for the legalization process.

● Scanned passport copy.

● Passport-size photos of the investor.

● Proof of address should be provided by any official document where your full name and

address appear together. Scanned copy.

● Appraisal report of the property. Our lawyers will arrange a duly authorized company to

prepare a valuation report, which is needed for the Title Deed exchange.

Once the promissory agreement is signed by the buyer and seller, and the full property price is

transferred to our escrow account, we will be ready for the Title Deed exchange.

When we register the title deed of the property in your name, we will also put an attachment in

the title deed stating that the property cannot be sold within 3 years for the scope of the CIP.

2ND STEP - RESIDENCE PERMIT APPLICATION:

Once we have registered the property in your name and got the certificate of conformity that

states that the property is eligible for the CIP, We apply for a ‘J’ Category Residence Permit.

A foreigner who applies for Turkish citizenship by way of investment shall first obtain a

short-term (temporary) residence permit as per Article 31/1(j) of the Law on Foreigners and

International Protection. Normally, in order to make a short-term residence permit application,

the foreigner shall enter Turkey with a valid visa, or by benefitting from a visa exemption.

Following valid entry to Turkey, foreigners who wish to extend their stay in Turkey shall apply

for a ‘short-term residence permit’. For the regular short-term residence permit application

process the waiting period for an appointment/interview date at many popular districts (such as

Istanbul, Izmir, Ankara) is quite long (8 to 24 weeks). However, in such citizenship by

investment-based special short-term applications, the application can be finalized within 1 to 10

days after making an online application. Application procedures are carried out in the special
office of the Immigration Directorate in Istanbul and Ankara. If foreigners issue a special power

of attorney for handling the short-term residence permit application, foreigners will not require to

enter Turkiye before making an application, and the application process can be handled remotely

via PoA.

Furthermore, please also note that a foreigner who applies for Turkish citizenship by way of

investment has also a right to pick up a new ‘Turkish’ name and/or surname (last name). In such

a case, the foreigner’s Turkish ID and/or passport will be issued with such preferred name and

last name. This procedure is not mandatory, and foreigners may also use their current names for

their Turkish IDs and passports as well.

The required documents for the short-term residence permit are as mentioned below:

● Turkish E-Visa copy if the investor has ever been to Turkey.

● Application form containing residence permit

● The passport copy

● A photocopy of the passport, with a duration exceeding the requested residence permit

period of 60 days.

● At least 2 photographs ( 50X60 mm in size on a white background, without a pattern as

determined in ICAO Standards and machine-readable biometric photo)

● Certificate of Conformity

● Current Residence Permit Photocopy if any

● A valid health insurance policy to cover the requested period of residence -

● Receipt of payment of application fee and necessary valuable papers

● Power of Attorney and Barocard Photocopy

3RD STEP – SUBMISSION OF TURKISH CITIZENSHIP APPLICATION:

Once we receive the approval for the residence permit, we will be ready to submit the Turkish

citizenship application for the investor and family members.

In this step, the following documents will be needed:

● Scanned Passport Copy of all the applicants.

● Birth Certificate of all the applicants. Dully legalized in the country of origin.

● Criminal records of the investor and spouse. Dully legalized in the country of origin.

● Marriage certificate. Dully legalized in the country of origin.

● Family book. Dully legalized in the country of origin.

● Copy of the Turkish E-Visa of all the applicants, if the applicants have ever been to

Turkey.

● 4 passport-size photos of all the applicants.

● Bank receipts with a signature from the Bank

Once the Citizenship Application is submitted, A commission is formed by the relevant

Ministries, and ‘the Citizenship Application of Foreigners is evaluated and submitted for the

approval of the President. The final decision is made by the President. It takes 3-4 months for the

citizenship to be accepted. Once the citizenship is accepted and announced, you can apply for a

Turkish ID Card and passport and get your fingerprints at the Turkish Embassy in your country.

(*) LEGALIZATION PROCESS for the VALIDITY OF THE DOCUMENTS:

For countries that have signed the Apostille Treaty, the process will be as follows. You can see if

your country has signed this Treaty in this link: https://www.hcch.net/en/states/hcch-members

● Power Of Attorney: The document will need to be notarized by a Notary Public in your

country. Once it is notarized, the document will need to be Apostilled. Most of the Notary

Publics offer these services for a fee.

 ● Birth certificate, Marriage certificate, and Criminal records: you will need to get these

documents from the relevant Registry in your city. These documents also need to be

Apostilled.

For countries that have not signed the Apostille Treaty, the process might variate, but as a

summary; the documents should be translated into Turkish or English and Notarized by a Notary

Public in the country of origin. Once the notarization is done the documents should be sent to the

Ministry of Foreign Affairs to get the attestation. Once the documents have been approved by the

MoFA, the documents should be sent to the Turkish Embassy or Consulate in the country of

origin.

1) Translate & Notarize the document

2) Stamp of the MoFA

3) Stamp of Turkish Embassy or Consulate in your country Document ready to be sent to Turkey.

However, in some countries, the legalization process may require further verification by the

Ministry of Justice before the document is sent to the Turkish Embassy or Consulate for

attestation.

1) Translate & Notarize the document

2) Stamp of the Ministry of Justice

3)Stamp of the MoFA

4) Stamp of Turkish Embassy or Consulate in your country Document ready to be sent to Turkey.

Important note: Please, bear in mind that the documents have a validity period. It is important to

take this into account when preparing the documentation to be sent to Turkey:

● Criminal records have a validity period of 3 months. Therefore, the Migration office will

not accept Criminal Record certificates issued more than 3 months ago.
 ● Birth & Marriage certificates have a validity period of 6 months. Therefore, the

Migration office will not accept documents issued more than 6 months ago.

(*) DUAL AND MULTIPLE CITIZENSHIP IN TURKEY

The laws of Turkey provide for the acquisition of Turkish citizenship based on one's descent—by

birth to a Turkish citizen parent (or parents) in Turkey and also by birth abroad to a Turkish

citizen parent (or parents)—regardless of the other nationalities a person might acquire at birth.

Children born in Turkey to foreign citizens do not have a claim to Turkish citizenship unless one

of the parents is also a Turkish citizen or the child would otherwise be stateless. The automatic

acquisition (or retention) of a foreign nationality does not affect Turkish citizenship. Turkish

laws have no provisions requiring citizens who are born with dual nationality to choose one

nationality over the other when they become adults.

While recognizing the existence of dual nationality and permitting Turkish citizens to have other

nationalities, the Turkish government requires that those who apply for another nationality

inform the relevant Turkish authority (the nearest Turkish embassy or consulate abroad) and

provide the original naturalization certificate, Turkish birth certificate, document attesting to

completion of military service (for males), marriage certificate (if applicable) and four

photographs. Dual nationals are not required to use a Turkish passport to enter and leave Turkey;

it is permitted to travel with a valid foreign passport (or national ID card for some nationals) and

the Turkish National ID card.

(*)The Military Service in Turkey for Investors and Their Families Who Obtain Turkish

Citizenship

The conditions of compulsory military services of Turkish Citizens have been regulated in

Military Duty Law No.1111. According to the 4th article of this law, every male Turkish citizen

between the age of 20 and 41 is obligated to do military duty.

However; there is an exemption for foreigners who acquired Turkish citizenship in the 43rd

article of this law. Those who acquired Turkish citizenship before the age of 21, should do their

military duty as Turkish citizens of that age according to their age and education at the time of

naturalization. If people who are citizens of other countries served their military service in where

they are coming from and can prove that with the required documents they will be deemed be

exempted. People who have obtained citizenship at the age of 22 years old - or older - are

exempted from military service and their military service is suspended for two years from the

date of naturalization, if they wish until the last year of their postponements.

People who have obtained citizenship at the age of 22 years old - or older - are exempted from

military service. However; as we explained above the children(under age 18) of the applicant

will also obtain citizenship so children under the age of 18 are not exempted from military

service. As specified in the code, If one, who has obtained his Turkish citizenship before 22,

served his duty military service in the country where his citizenship outside Turkey they will be

deemed to be exempted. For example; if a son of a Chinese who obtained Turkish Citizenship by

investing, serves his Military Service duty in China he is not going to serve this duty in Turkey

again.

(*)Military Service Postponement for those who acquired Turkish citizenship and Paid

Military Service

The opportunity of postponement of Military Service for those who have been abroad had been

regulated in Turkish Military Duty Law No.111 article 38. According to this article;

For people who are residing abroad(with dual citizenship) and have been working as an

employee, employer, or concerned with a profession or art by having a residence permit or/and

work permit and those who have seaman status on foreign-flagged ships.
In the event that they apply to the Turkish consulates with their documents that prove their status,

their military service may be postponed until the end of the year when they reach the age of 35 in

accordance with the procedures and principles determined by the Ministry.

In other words, those who have dual citizenship rights residing in foreign countries can postpone

military service until the age of 35. If foreign investors acquire Turkish citizenship later, their

children under the age of 18 will benefit from this opportunity as well.

In addition to this matter; according to article 39 of the same code Turkish citizens who reside

outside Turkey and have worked for at least three consecutive years have the option to pay a

certain fee to be exempted from mandatory military service. This requires a fee and theoretical

military training. After this amount is paid and the distance education program determined by the

ministry is completed, the military service will be completed.

(*)Military Service Issue Regarding the Sons of Foreigner Investors (under age 18) who
acquired Turkish Citizenship

It is explained above that; how will be treated about the mandatory military issue to those their
parents acquired Turkish citizenship by investment in detail. However, it does not mean that
there will be no new amendments on this topic because; probably Turkish Citizenship through
Investment program will be continually amended in the coming years. As explained, The
government has reduced the amount specified in the law for foreign investors to invest, to give a
chance to the investors who want to acquire citizenship more easily. The purpose of this
regulation is to improve the number of foreign investors in Turkey. It is confirmed by the
government that the biggest problem for foreign investors is the mandatory military issue. The
minister of the economy made a statement about this issue and he came up with an explanation
that they will make arrangements aiming to solve the military problem for foreign investors.
Even though there is no new regulation yet, it is apparent that the country that made important
amendments and reduced the investigation amounts for foreign investors will easily solve the
military problem as well. As per the Directorate General of Migration Management's latest
statement, there will be new regulations for foreign investors about their military issues.

There is an expectation that foreign investors and their families will be held exempt from
compulsory military. The minister of the economy also announced that the government is making
preparations to introduce a law on this topic.

FAQ About Citizenship By Investment Application

1) How Long Does the Citizenship Application Take?

The citizenship application may take from 3 to 4 months.

2) Do I need to wait 3 years after making the investment to apply for Turkish citizenship?

No need to wait for 3 years. You are eligible for a Turkish citizenship application right after you

finalize the investment. However, you cannot sell the property for 3 years.

3) Do I need to stay in Turkey for any specific period of time before or after the citizenship

is granted?

No, you don’t need to spend time in Turkey to be eligible to apply for citizenship.

4) Can I use a bank loan to buy the property?

When you are applying for Turkish citizenship, you may not use a bank loan from Turkish banks

to buy the property.

5) Can I keep my other citizenship?

Yes, Turkey allows dual citizenship.

6) Do I need to speak Turkish In order to apply for Turkish citizenship?

No, you do not need to speak Turkish.

7) Do I need to buy a residential property in order to apply for Turkish Citizenship?

The property you choose to buy may either be a residential or commercial property.

8) Can there be more than one person in the Title Deed of the property?
Only one person can be the owner of a property in order to be eligible for the Turkish Citizenship

by Investment application.

9) Can my child who is 17 years old and 6 months apply for Turkish Citizenship?

Age of your child while starting the application procedures will be taken under consideration. As

long as you start the application process before your child turns 18, he will be eligible for the

acquisition of Turkish Citizenship. Children of investors, which are over 18 years old are not

eligible for the application even if they are financially dependent on their parents.

10) After the citizenship is granted, can I work in Turkey?

After Turkish Citizenship would be granted to you on basis of investment, you have the same

rights as Turkish Citizens by birth and you can work within Turkey with no need to obtain a

work permit.

11) Are my parents eligible to apply for Turkish Citizenship?

Only the spouse of the investor and their children, who are under 18 years old are eligible to

acquire Turkish Citizenship on basis of the program. These rights do not apply to the investor’s

parents.

12) Do I need to be in Turkey at any time during the process?

No, your lawyers can handle the whole process on your behalf and on behalf of your family

members.

13) Can I rent my property?

Yes, It is also not required for you to live in the purchased property within the Turkish

Citizenship by Investment program, you are allowed to rent it.

14) What are the tax implications for me?

Turkey has signed a double taxation agreement with most nations. If you have already paid the

relevant taxes on income earned outside of Turkey, then you are unlikely to be taxed again by the

Turkish government.
15) Can I buy several properties to fulfill the 400,000 USD limit?

You can purchase several properties which have a total value of at least 400.000 USD. There is

no limit on the number or type of property. The values declared at the sale at Property Registry

Office and appraisal values should be consistent.

(*)Inheritance Law in Turkey

First, it must be known that the principle governing the laws of Turkish inheritance is the

"location of the property", that is, what regulates the mechanism of legal dealing with the

property is its location, the Turkish law is applicable when dealing with ownership of a property

located within the territory of the Turkish Republic, including real estate and immovable

property.

In addition, what foreign investors must know when buying a property in Turkey is that the

movable property is subject to the laws of inheritance in the country the deceased holds its

citizenship, while Turkish law is followed in respect of real estate and immovable property.

In the absence of an officially certified will, the legal heirs of immovable property in Turkey are

determined in the following serial order:

● The first heirs of the deceased person are the children and the husband or wife who get a

specific share.

● If the deceased person does not have children, his family will be his heirs (father and

mother).

● In the absence of children and parents, the spouse/wife shares the inheritance with the

grandfather of the deceased or his brother.

● If the deceased person does not have relatives alive, the entire property goes to the

husband or wife.
 ● In the absence of any heirs, all the deceased’s properties will go to the Turkish

government.

The deceased’s properties shall be distributed to the previous categories after the discharge of the

inheritance, if any, the debts of the deceased are paid to banks, installments, or any mortgage.

According to Turkish law, half of the property will be for the wife and the other half for the

children equally, as the male and female quotas are equal. This leads investors to question

whether their country’s inheritance laws can be followed, which is permitted, provided that it is

applied to all heirs.

The following papers must be submitted to each of the heirs in order for the properties to be

transferred:

1. The family statement “inheritance inventory “shows heirs and kinship, certified and

translated to the Turkish language.

2. Registration in the tax register in Turkey and obtaining tax numbers.

3. Valid passport.

4. Providing personal photos.

As in many countries of the world, anyone in Turkey can write a will explaining for whom

he/she wishes to leave the properties after death, and the competent courts will consider the will

of the person after his death.

The Turkish Civil Code clarifies how to deal with the will: for foreigners, the will must be

prepared in accordance with Turkish law in this regard, to be a legally recognized will.

The conditions provided for in Turkish law on the writing of the will, the person should be over

the age of fifteen and have full mental strength.

The will must also be written in the handwriting of the owner, and the date must be mentioned in

detail in the day, month, and year, also must be accompanied by his signature. The person
concerned must submit the will either to the court or to the clerk of justice, signed before two

witnesses so that the proceedings proceed properly.

In this regard, the Court of Peace or the Court of First Instance shall hear cases relating to

inheritance. Each case may require different times, depending on the complexity of the case and

the functioning of the Court itself.

By obtaining the Certificate of Inheritance, you may ask for the transfer of the ownership of an

immovable at the relevant Land Registry Office along with the other inheritors.

Inheritance tax in Turkey varies between 1% and 30%, depending on the inheritance transfer.

In the case of foreigners who inherit property held in Turkey, they are obliged to pay

inheritance and transfer tax because the legislation in this country comes into question. It is

important to know that there are also cases in which the properties are transferred as donations or

gifts, as a result of which no tax is applied. the legislation on the transmission of inheritance in

Turkey offers equal rights to both the citizens of this country and those abroad in terms of taxes

Att. Halime TAŞTAN DAŞBILEK