Turkish Nationals Nave Endless Choices and Unexpected Surprises
Last Updated: 2023-09-29
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Turkish Nationals Nave Endless Choices and Unexpected Surprises
Half of the world's countries have programs to grant their citizenship to foreigners through investment, still Türkiye is the best choice for foreign investors for several economic and social reasons.
In this article, we discuss why Türkiye is the choice of investors who seek to obtain a second nationality.
In this article you will read:
- Türkiye is an emerging country.
- An important geographical location and stunning nature.
- A growing economy.
- Türkiye is a destination for investors.
- How to obtain Turkish citizenship?
- Investment management service from Mersat Real Estate.
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Türkiye Is an Emerging Country:
Türkiye was ranked 13th among the G20 "Group of Twenty", but aspires to become one of top ten according to vision 2023, which coincides with the 100th anniversary celebrations of the founding of the Turkish Republic. Türkiye aims to raise GDP to $2 trillion, the ability to enter 197 countries without a visa, and to increase its per capita income to $30,000 a year.
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An Important Geographical Location and Stunning Nature:
Türkiye has an important strategic geographical location that enables it to play a major and growing role in the international economic and trading systems, as it is the link between Russia, Central Asia and Europe, also it controls strategic roads which are:
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The Bosphorus Strait:
The Bosphorus is one of the world's most crowded waterways for oil transport, where more than three percent of the world's oil supply passing through it, or three million barrels per day, mostly from Russia and the Caspian Sea, crossing a 17-mile waterway connecting the Black Sea with the Marmara Sea down to the Mediterranean Sea.
The Bosphorus is one of the most complicated waterways in the world, with only half a mile in width in some of its parts. About 48,000 ships cross the strait each year, making it one of the busiest waterways in the world, according to the U.S. government.
Commercial vessels have the right to cross the Strait in peacetime, despite Türkiye's claim to impose regulations for safety and environmental purposes.
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The Caspian Sea Road:
The Bosphorus pipelines penetrate to transport 0.7 million barrels per day of oil from Caspian countries such as Azerbaijan and Kazakhstan to Turkish export ports directly on the Mediterranean Sea, including Ceyhan. Britain's BP Group , which operates oil and gas pipelines from Azerbaijan to Türkiye via Georgia, said shipments had not stopped.
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Iraqi and Iranian Oil Pipeline:
Ceyhan port is the last leg of a pipeline stretching from the semi-autonomous Kurdistan region in northern Iraq, transporting about half a million barrels per day. A source close to Iraq's oil exports said crude was flowing as usual.
Türkiye also receives gas and some petrochemical products from its neighbor, Iran, and Iran's Mehr News Agency said Iran has temporarily suspended exports of petrochemical products to Türkiye due to the closure of the border between the two countries.
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A Growing Economy:
Türkiye's economy is characterized by growth and development; when the republican government was established in the 1920s, Türkiye was almost only a fully agricultural country. Thanks to government policy, the number of factories increased from 118 in 1923 to more than 1,000 in 1941.
Today, Türkiye has more than 30,000 factories, but agriculture has remained an important economic activity, providing 58% of the country's total labour force.
However, agricultural production accounts for only about 20% of the value of all goods and services produced in Türkiye. In addition, the industry absorbs only about 11% of the total volume of the country's labour force, but the value of industrial production revenues exceeds that of agricultural production.
Türkiye's public sector controls communications, railways, airports and important public facilities. Also, the state controls the steel industry, mining, forestry, most banking departments, and nearly 400,000 hectares of agricultural land. The private sector owns the vast majority of farms, small factories and construction companies.
Since 1963, the State has steered the growth of the national economy through a series of successive five-year plans, as it aims to expand the role played by the industrial private sector in the national economy.
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Türkiye Is a Destination for Investors:
It is not only granting citizenship that attracts foreign investors to start their businesses in Türkiye, but also because investment in Türkiye is feasible. Furthermore, Türkiye has a foreign investment volume of about $165 billion and ranks in the top 10 in FDI in Türkiye: United Kingdom, United States, Netherlands, Switzerland, United Arab Emirates, Germany, Luxembourg, South Korea, Japan and Ireland.
As for the ease of doing business index, Türkiye ranked 93rd out of 155 countries in 2006, rising to 69th place in 2017, and 33rd out of 190 countries in 2020.
Türkiye is also one of the most liberal countries in terms of the investment environment, where the decline in investment regulations from 0.283 points in 2003 to 0.059 points in 2020 -- according to the Organisation for Economic Co-operation and Development (OECD) report -- suggests that Türkiye provides a more liberal investment environment than developing country economies.
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How to Obtain Turkish Citizenship?
The Turkish Nationality Act is based primarily on jus sanguinis (the law of the blood), as children born to a Turkish mother or father (within marriage or out of wedlock) are Turkish citizens from birth. Turkish citizenship (or obtaining citizenship from another country) can be renounced in Türkiye by petitioning the highest administrative official at the person's place of residence, in the case of he is outside the country, the application is made at the Turkish Consulate. The documents addressed by these authorities are also sent to the Ministry of the Interior for appropriate action.
A foreigner may apply for citizenship if he/she meets all the following conditions:
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Reaching the age of majority according to the laws of his country or those of Türkiye, in the case of stateless persons.
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Accommodation in Türkiye for five years without interruption before applying.
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The intention to settle in Türkiye and take action to prove this.
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Does not have any disease that threatens public health.
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Good manners.
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The ability to speak Turkish.
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Sufficient income to secure livelihoods in Türkiye.
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Does not pose a threat to national security and public order.
However, meeting these conditions does not give the foreigner the absolute right to obtain Turkish citizenship.
A citizen who has been married to a Turkish citizen for three years and is still married to the same partner may apply for citizenship in accordance with the following conditions:
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Living with a Turkish partner (exceptions granted if the Turkish partner died after the application had been submitted).
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Avoid actions that would threaten marriage.
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Does not pose a threat to national security and public order.
After successful application, a naturalized partner may maintain his/her Turkish citizenship in the event of a dissolution of the marriage contract as long as the partners have previously concluded it in good faith.
There are several other common ways to obtain Turkish citizenship:
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Obtaining citizenship through adoption for those under the age of 18.
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Special and exceptional cases of granting Turkish citizenship.
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Real estate investment of $400,000.
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Bank deposit of half a million dollars.
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Hiring 50 Turkish workers.
Real estate investment is the most popular way to obtain Turkish citizenship, so what are the steps to obtain it?
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Purchasing a property or properties for at least $400,000.
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Getting a real real estate valuation in Türkiye by a company accredited by the Capital Market Authority (Türkiye).
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Go to the General Directorate of Land Registry and Cadastre "title deed" to apply for a foreclosure on the property for three years in order to obtain Turkish citizenship.
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Apply for an investment residence permit through the Migration Management.
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Go to the Ministry of Environment, Urbanization and Climate Change to approve the application.
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After obtaining accreditation, you must apply for Turkish citizenship to the Directorate of Civil Registration and Nationality.
This is where your role ends and the role of the government begins, where the Directorate of Civil Registration and Nationality organizes the file and sends it to the Directorate of Civil Registration and Nationality in Ankara. The study of the application begins by the Directorate of Civil Registration and Nationality in the city where the application was submitted, and then they send it to the General Directorate of Civil Registration and Nationality.
If there were not any legal problems or lack of papers, the Directorate of Civil Registration and Nationality sends the file to the Directorate of Public Security and the General Intelligence Presidency. After completing security and intelligence studies on the submitted file, it will be sent back to the General Directorate of Civil Registration and Nationality. They, in turn then, send the file to the Ministry of Interior, which in turn sends the file to the Presidency of the Republic for approval.
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Investment Management Service from Mersat Real Estate:
For those wishing to obtain Turkish citizenship, residence or investment in Türkiye, Marsat Real Estate is proud to provide real estate consultancy services based on careful analysis and market research to put it in your hands. Our goal is to let you be able to make the right decision in owning or investing the property, and even financing it with soft and encouraging loans, thanks to the special protocols that Mersat has in its dealings with a number of leading Islamic banks in the area.
Edited by Mersat Real Estate Team ©
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