Turkish Citizenship Lawyer in Istanbul, Turkey. Kurucuk & Associates Turkish Citizenship Law Firm
Kurucuk & Associates Turkish Citizenship Lawyer in Istanbul, Turkey. Kurucuk & Associates Law Firm is a full-service Turkish Citizenship Law Firm with office in Istanbul and experienced in Turkish Citizenship Law. Contact the top lawyers in Turkey for Turkish Citizenship Law and consult with Turkish Lawyers with expertise in Turkish Citizenship Law for Turkey. Kurucuk & Associates is one of the Top-notch Turkish Immigration Law Firm based in Istanbul, Turkey specializing in Turkish Citizenship.
Are you planning to travel the world without any hassle? Or are you looking to expand your business or seek new opportunities in Turkey? However, you also place a high value on keeping your investment intact. Living in Turkey will grant you a second nationality and allow you to travel the world, including 120+ visa-free countries. Kurucuk & Associates is one of the Top-notch Turkish Citizenship Law Firm based in Istanbul, Turkey. Our Turkish Citizenship lawyers in Istanbul Turkey provide legal services tailored to your needs.
Turkish Citizenship Law Firm Istanbul.Turkey Citizenship Lawyers Istanbul
Turkey's Citizenship by Investment Program is popular globally because of its great benefits. So, are you looking to acquire Turkish citizenship? Kurucuk & Associates Law Firm as Turkish Citizenship Law Firm in Istanbul, Turkey can assist you!
Kurucuk & Associates Law Firm was established in 2014 as one of the leading Turkish Citizenship Law Firm in Istanbul, Turkey. As a top Turkish Immigration Law Firm in Istanbul, Turkey our Turkish Citizenship Lawyers specialize in real estate and infrastructure cases. With years of experience as a Turkish Immigration law firm in Istanbul, Turkey, Kurucuk & Associates Law Firm is among the leading Turkish Citizenship Law Firms in Istanbul, Turkey in the industry since it was one of the first to offer advice on Turkish Citizenship by Investment.
TURKEY CITIZENSHIP LAWYERS ISTANBUL
Are you planning to travel the world without any hassle? Or are you looking to expand your business or seek new opportunities in Turkey? However, you also place a high value on keeping your investment intact. Investing in Turkey will grant you a second nationality and allow you to travel the world, including 120+ visa-free countries.
PROCESS FOR TURKISH CITIZENSHIP
The procedure is divided into three (three) phases: investing, obtaining a residency permit, and becoming a Turkish citizen. In the example below, we are considering a scenario in which the applicant selects the most preferred application; and invests in real estate.
Selection of Investment
Bank Account Opening, Payments & Title Deed
Submission of Application
Evaluation of The Application
Approval & After Citizenship
INVESTMENT FOR TURKISH CITIZENSHIP
A Turkish CBI program can be applied for by investing USD 400,000 in real estate and including a clause that ensures the property will not be sold for at least 3 (three) years in the title deed.
In accordance with the regulation, the chosen property must be evaluated by companies authorized by the Turkish Capital Market Board before it can be purchased.
According to the evaluation, the applicant will be able to complete the purchase of the property's cost is more than USD 400,000.
The conformity certificate for the investment shall be requested and collected from the relevant authority.
TURKISH RESIDENCY PERMIT
If the conformity certificate is submitted along with the related documents, the applicant is required to apply for a special residency permit.
We schedule an interview with the Migration Authority that all applicants are required to attend in person (or be represented by an attorney).
The Migration Authority issues a residency permit within two weeks of receiving the required documentation and completing the interview.
TURKISH CITIZENSHIP APPROVAL PROCESS
After the Directorate approves the residency permit of Civil Registration and Nationality, our team collects and prepares final documentation for application submission.
After checking the documents, the Directorate sends the documents to the General Directorate, which runs an investigation on the background of the applicant with the National Intelligence Service, Financial Crimes Investigation Board, and Security General Directorate.
In the event that the investigation is successful, the application will be forwarded to the Presidency of the Turkish Republic for finalization. The applicant becomes a citizen of Turkey following the decision of the Presidency.
BENEFITS OF TURKISH CITIZENSHIP with TURKISH IMMIGRATION LAWYERS IN ISTANBUL, TURKEY.
Choosing the deposit option provides a significant rate of interest; choosing the real estate investment option enables collecting rents over a period of 3 (three) years and ultimately selling the property at a higher price.
Turkish citizenship laws allow each individual to have more than one citizenship. There are no acceptance conditions requiring an applicant to give up their previous citizenship.
Citizenship in Turkey is hereditary from the date of acquisition. Thus, the beneficiary can pass on all rights and privileges to their heirs. (Exception: Children are over 18 years of age)
Additionally, the spouse and dependent children of the applicant may benefit from the application for citizenship.
The Turkish passport holder can currently visit 68 countries totally visa-free, and 38 countries can grant Turkish passport holders visas on arrival, in addition to countries for which an "e-visa" is offered.
A popular tourist destination, Turkey's location facilitates connectivity with key markets via excellent transportation links making it a major transcontinental country. Istanbul, Turkey's largest city and main commercial and cultural center, is the leading global city, although Ankara is the country's capital.
Turkey Citizenship by Investment Launch: January 2017
This program attracts foreign direct investment and boosts growth in the country's real estate market, as well as allowing applicants to make a range of different economic contributions to Turkish society through the program.
The Bosphorus Strait, which connects Europe and Asia in Istanbul, makes Turkey a transcontinental Eurasian country. Its geostrategic significance stems from its location at the crossroads of Europe and Asia.
Turkey Citizenship by Investment Program: Benefits
An applicant's family members were also granted full citizenship
For a renewable five-year period, eligibility for an E-2 Investor Visa in the USA
An Eurasian country as a hub between Europe, Western Asia, and the Middle East can be accessed by way of transcontinental trade
Access to 110 destinations without a visa or a visa on arrival (countries including Hong Kong, Japan, Korea and Singapore)
A low cost of living and a mild Mediterranean climate for citizens of a Mediterranean nation
Requirements of Turkey citizenship by investment
The main applicant needs to fulfill one of the following investment requirements to qualify for Turkish citizenship:
Own real estate property of worth USD 400,000 (at least)
Investment in fixed capital contribution of USD 500,000 (at least)
Deposit in Turkish bank account of at least USD 500,000 (this investment include equivalent foreign currency or Turkish lira)
Commit government bonds of at least USD 500,000
Have real estate investment fund share or venture capital investment fund share of at least USD 500,000
Employ at least 50 people, as certified by the Ministry of Family, Labour and Social Services
In addition to the main applicant, a spouse and dependent children under the age of 18 may apply as well as children of any age, including children living with disabilities.
Procedure of the Turkey Citizenship by Investment Program
As soon as the family has decided the investment option they wish to select, an application for a residence permit shall be made on their behalf. Next, the main applicant must open a bank account in Turkey.
The investment can be completed and the applications submitted to the government when all application documents have been prepared. The government will review the application and may call for an interview once the application has been received.
Time frame of the Turkey Citizenship by Investment Program
Typically, citizenship documents are issued within 120 days of your citizenship application being accepted, following which you can apply for a passport.
Hire now the experienced immigration lawyers in Istanbul, Turkey for hassle free Turkish citizenship!
Kurucuk & Associates Law Firm is providing outstanding services of the highest quality, an experienced immigration lawyers in Istanbul, Turkey specializing in different legal fields, and an in-house consultant working closely with international experts from top universities and research institutes.
Contact us for more details!
Kurucuk & Associates Law Firm is a Turkish Immigration and Business Law Firm based in Istanbul, Turkey. We specialize in serving non-Turkish businesses and individuals. We speak English, Swedish, Russian and Chinese Language.
We are specialised in matters related to residency, citizenship by investment, setting up businesses, property investment and asset management in Turkey.
We work with individuals looking to acquire Turkish citizenship through investment. Obtaining Turkish citizenship opens the door for many of these individuals to apply for both immigrant and non-immigrant US visas. In particular, Turkey is an E-2 treaty country and Turkish citizens can obtain a US investor visa for an initial period of 5 years.
In addition, Turkish citizens can apply directly for a US green card (permanent residency) if the investments are bigger than $900,000 for rural areas and $1,800,000 for all others. Other business visas such as EB-1, O-1, and L-1 are also available.
There is also a special international treaty between the United Kingdom and Turkey, such treaty is called «Ankara Agreement» and specific visa category called ( "Turkish Businessperson visa") opening the door for the Turkish Citizens to start a new business in the UK, come to the UK to help run an established business, apply to settle in the UK permanently and bring family (‘dependants’) with you.
We assist our clients with their visas, citizenship, investments and other legal needs in Turkey. We are the experts in providing immigration pathways to our clients to work, study, invest and settle in Turkey and various provinces and territories of USA, Canada , UK and Australia through Turkish Citizenship.
There are 2 main methods in order to acquire Turkish citizenship one of which is through property purchase of USD 400,000 or bank deposit of USD 500,000 both with the condition to keep for 3 years.
Thus, the foreigners who purchase the immovable property at least in the amount of USD 400.000,00 provided that an annotation stating that it is not to be sold for three years or who deposit cash at least in the amount of USD 500.000,00 to the banks operating in Turkey provided that keeping such deposit for 3 years are able to obtain the Turkish citizenship exceptionally by the decision of the Council of Ministers in case of applying with the documents stated in the Code.
It should be noted that Turkish Immigration Law Firm Kurucuk & Associates Law Firm is specialized in matters related to residencies, citizenship, setting up businesses, property investment and asset management in Turkey.
We are very experienced in Turkish Citizenship Program by serving with our offices located in European Side and Asian Side of Istanbul, provide high quality legal services (including Mandarin Service ) to our clients for their investments in Turkey.
All our applications (more than 200) have succeeded and never failed so far, we have very good reputation and reliability in this sector, all our clients and partners (agencies) are fully satisfied with the services of our law firm and our Turkish immigration and investment lawyers.
This citizenship program is really popular investment program among investors nowadays.
Investors, their spouses and children under 18 can receive Turkish Citizenship either by purchasing property in Turkey in an amount of USD 400,000 minimum and keep the property for 3 years while generating rent income or deposit USD 500,000 to the Turkish Local Bank and keep USD 500.000 during 3 years while earning interest from this amount during this period.
We complete all the citizenship application procedure on behalf of the client and his/her family based on the Power of Attorney. The client and his/her family need to come to Turkey only once at the end of the procedure in order to give fingerprints to receive Turkish ID's and Turkish Passports.
In some countries, the Turkish Consulates are authorized to receive fingerprints so that the Client and his/her family will not even have to come to Turkey even once. In other words, we can finalize each and every step of the client and the family only by Power of Attorney. The whole citizenship procedure is completed within 4 months as long as all the required documents are provided on time.
Our Pre and Post Application Services for the Turkish Citizenship Application with Immigration Lawyers in Istanbul, Turkey.
We provide full package of services for the Turkish Citizenship Application to our Clients including;
Welcoming the client,
Virtual Pre-departure Orientation,
Providing Turkish cellphone SIM,
In-Person Post arrival Orientation to Turkey Session ( Turkish Life, weather, food, culture, familiarization with neighborhood, modes of transport etc.),
Airport pick up and drop off to your pre-booked accommodation
Guide and translator,
Accompanying the client with site inspection for property purchase,
Issuance of evaluation report for the property,
Assistance with opening bank account, obtaining a debit and credit card, completing investment and deposit requirements and obtaining relevant official documents from the Bank and Public Authorities,
Property selection & negotiation with Developers and Sellers,
Legal Due Diligence and land registry search,
Assistance for application for Turkish Tax Number and Health Insurance,
Application for resident permit,
Application for Turkish Citizenship,
Obtaining Turkish ID and Turkish Passport,
Moreover, we offer post-sale services such as Accounting-Tax report, Maintenance, Cleaning and Rental, Address Proof, Certificate of Clearance, Local Driving License, Passport Name Change, Marriage Certificate,
Assistance with employment search, applying for all eligible benefits for the client and children, Assistance with school admissions for children, Assistance with rental accommodation, Assistance with registering in e-government system and e-government passwords,
We also offer, money transfer services via crypto – money, bitcoin etc.
The Advantages of Turkish Citizenship by Investment with Immigration Lawyer in Istanbul, Turkey
No minimum stay requirement. No need to live and stay in Turkey during the application procedure,
We can finalize each and every step of the client and the family only by Power of Attorney. The whole citizenship procedure is completed within 4 months,
Bank account opening only within 1 day,
Easy access to United States of America via EB-1 and EB-2 visas,
Low application fees, simple and quick application procedure,
No need to prove the source of funds.
No need to come to Turkey for the application and naturalization.
Easy access to United Kingdom via special international treaty between United Kingdom and Turkey, such treaty is called either «Treaty of Ankara» or «Ankara Agreement»
Superb Health Facilities (far better health services than US and EU)
Visa-Free Travel for 115 countries for normal Red Passport.
Full free medical assistance for life, for all family members, included,
Free finance system, no tracking,
Turkey allows Dual Citizenships,
No Declaration to any governmental office,
No Military Service required,
Pension Programs included,
High Quality of Life
Gain the full range of rights enjoyed by nationals of the Turkey (Turkish Republic.)
FREQUENTLY ASKED QUESTIONS ANSWERED BY IMMIGRATION LAWYER IN ISTANBUL, TURKEY:
What are the most common requests among your Russian speaking clients right now?
Yes, we do receive a lot of inquiries from these countries due to the current situation in Russia. Recently, almost all the requests are somehow related to relocation. From my understanding, a lot of people from these countries are planning to relocate to Turkey. We receive lots of requests including obtaining residency permit, establishing a business, acquiring an existing company etc. but when we talk about relocation, the most popular way is to apply for Turkish Citizenship by Investment. This is mainly due to the simple nature of the Turkish Citizenship Program.
What kinds of investment opportunities in Turkey right now you can recommend?
Textiles, energy and natural resources, environment and recycling, construction and real estate are quite valuable sectors. Investments in these sectors is highly preferred in Turkey. According to the current legislation there are seven ways to acquire Turkish Citizenship via investment. I generally recommend my clients that construction and real estate are the most profitable opportunity for investors, especially since real estates are always on the rise in a region like Turkey. Accordingly, I believe investors should consider the the options of property purchase or investing in a real estate investment fund.
What are the rules for getting Turkish citizenship by investment?
As the name suggests, the main rule is to make investment. The minimum investment amounts are determined in the law. For instance, the minimum investment amount for property purchase option USD 400.000 but the minimum investment amount for bank deposit, government bond, or fund investment options are USD 500.000. The important fact is the investment subject property, bond or fund share cannot be sold for three years.
What can you say about investment fund?
Investment funds can be briefly explained as a pool of investments, or an investment product that opens a way for corporations to collect savings for certain assets. With this way the risk can be divided between investors and the money required can be collected easily. Of course, in Turkey, these funds need to be founded by corporations that are authorised by the Capital Market Board.
Can people get citizenship by investing money on it?
Yes, by simply investing in and getting a share of these funds, people can apply for a citizenship. Although it’s not easy as that, there are certain factors to keep in mind.
For instance, with the money, typically with these shares we are talking about a minimum of 500.000 USD or any equal amount of foreign currency/Turkish lira, will have to be invested in exchange for a share in these funds. The equal amount of 500.000 USD will be calculated based on the USD’s value of that time.
Then there is a duration factor, people who wish to apply for a citizenship basically need to do this on the condition that they keep this share in their hands for at least 3 years. So, you can’t sell your shares for 3 years at least.
Those investors who can check all these boxes will be having to request a conformity letter by the Capital Market Board first, to apply for a citizenship later.
What kinds of funds are available for getting Turkish citizenship?
One who wishes to apply for a citizenship must invest in one (or both) of two funds. These are Real Estate Investment Fund and Venture Capital Investment Fund.
When will Turkish citizenship process begins and how long it may take?
If the investment is found to be following all the factors explained before. the Capital Market Board will send a “conformity letter” approximately around 4 weeks. The document will be sent to the person wishing to apply for a citizenship and also to the General Directorate of Migration Management and the General Directorate of Civil Registration and Citizenship Affairs. Then, the citizenship process begins, and it estimated takes around 2 to 4 months.
What kind of cities/properties you would recommend for living, and what city/properties for investment?
In my opinion, for living, city centers would be better but for investment, there are a lot of good projects little far away from city and also some project is still under construction. In under construction projects, the amount of the property is very lower than the finished project, so if the client will not settle in Turkey, maybe for investment the under-construction projects is better. This is about motivation, for this question, we need to understand the motivation of the Client.
Is it hard to do payment from Russia right now?
What we experienced is the Russian government have limited the transactions to abroad. So, the Clients having a hard time to transfer their money to Turkey. But their banking system allows them to make transfer to directly real estate development companies. In other words, the payment can only be made to companies not individuals. This situation is slightly affecting the Russian investors since it is harder for them to invest in properties that are being sold by the individuals.
When will Turkish citizenship process begin and how long it may take?
Once the investment done, which means once the client gets the title deed under his/her name. First, clients need to apply for conformity letter. Once the client applies for conformity letter, it takes 1-2 months to obtain it. Once the conformity letter, Client applies to residence permit directly and then citizenship after that. Once the application is made, valuation process takes 2-4 months.
What documents our clients should prepare in advance before coming to Turkey for investment purposes?
There are two important documents for citizenship application. One is birth certificate, and one is civil status certificate. Birth certificated must be obtained for whole family members. (Mother, father kids) and there must be obtained civil status, which means, if the applicant is marriage, marriage certificate is single, single status certificate.
Is it possible to open a bank account in Turkey without residence permit? What documents are needed for this?
Due to the huge number of foreigners in Turkey right now, nearly all the bank is seeking for residence permit to establish a bank account. But we have good relationship with some banks, these banks we are working with maybe more than 10 years, so they trust us, and they establish a bank account for our clients.
If the client in Turkey and open a bank account himself/herself, the required documents will be;
Tax number obtained from Turkey
Address Proof Document, should be obtain from home country and obtained from government bodies. This document must be translated by a sworn translator and notarised.
There is way that, all this procedure can be done remotely, Client may issue a Power of Attorney to an Immigration Lawyer in Istanbul,Turkey and Immigration Lawyer in Istanbul,Turkey can establish the bank account under the Client and the mobile banking passwords and internet banking passwords directly to send the Client.
How to get a tax number in Turkey?
If the Client will not enter the Turkey at all, the Lawyers can get tax ID for the Clients with the Power of Attorney. If the Client is going to enter the Turkey, Tax Id can be obtained either in online system of government or obtained from the tax offices.
If a foreign citizen plans to move his business to Turkey, what are the basic rules he must follow and what short be their fire step?
First of all, the Client needs to decide whether he/she is going to establish a branch of the existing company or establish totally new Turkish Company. In both scenarios, will decide the company type, which means, it will be LLC or JSC. Regarding this, the Article of Associations will be prepared by Lawyer, the title will be chosen by the Client, and the company will be established in the Turkish Chamber of commerce.
What is the most important piece of advice you can give to foreign businessmen starting a business in Turkey?
The motivation of the business is very important. Regarding the motivation the company type and the location also differs, and this can be selected very carefully. For examples, there are a lot of advantages if the company established in free economic zone. For these reasons the business man should get advise in these regards.
Can a person bring their own car when moving to Turkey? What are the main conditions?
Yes, it is possible. In our country, there is no restriction to bring a vehicle from abroad. A person residing abroad can bring as many vehicles with foreign license plates to Turkey as he wants, provided that they are entered in the passport. For this, each vehicle is given a maximum of 24 months. Looking back from the date of entry to Turkey by vehicle, the owner of the vehicle must have been abroad for at least 185 days in the last year. Looking back from the date of entry, those who stayed in Turkey for more than 180 days in the last year are not allowed to bring a vehicle. And then it can convert to Turkish plate.
Is it possible to use foreign driver’s license in Turkey?
First 6 months the foreigner can use his/her driving license, after 6 months this license should be converted to Turkish one.
Is it possible to change my license to Turkish without passing additional exams?
There is a list regarding this topic. Some country driving license holders must be take all the courses again and pass the exams, for example Canada. But Russia, is one of the countries, stated in the list, so there is no need to get additional exams.
As a Turkish resident, can you tell about the main advantages of being a Turkish citizen?
Full citizenship granted following background check plus Turkish Citizenship and Passport delivered quickly within 4-6 months only,
You can both have a solid investment with regular income and at the same time you can obtain one of the most sought citizenships in the World,
Visa-Free Travel for 115 countries for normal Red Passport. For business people, 155 visa-free countries including all EU and more with the Green Passport.
No Minimum Residency or stay required,
Ownership of one of the Top 40 Passports in the World,
Turkish passport has 10-year validity and is renewable for life,
Turkey Identity Card included,
Full free medical assistance for life, for all family members, included,
No need to declare your wealth or source of the funds,
Free finance system, no tracking,
Turkey allows Dual Citizenships, Pension Programs included,
Free Education and University Reimbursement Plans are provided,
Prospective Visa-free travel to EU, Future Access without visa to 26 Schengen Zone Countries,
Easy access to United States of America via EB-1 and EB-2 visas,
One of the best climates in the World throughout the year,
Most developed Muslim country offering a democratic and safe environment for families of all religious,
A Eurasian country with a hospitable and welcoming manner to foreigners,
Fantastic natural environment Excellent food and rich cuisine Superb Health Facilities (far better health services than US and EU),
Superb Educational Facilities,
High Quality of Life
Is it possible to invest in Turkey by crypto currency and apply for Turkish citizenship by investment by this method?
It is not legal to make direct payments with crypto assets in Turkey. In the regulation published with the title "Regulation on the Non-Use of Crypto Assets in Payments", the use of Cryptocurrency in payments is prohibited as of April 30, 2021. However, the only condition for obtaining citizenship is that the money has been transferred from the applicant's own account in Turkey or outside Turkey. Some real estate companies or 3rd parties can convert this cryptocurrency and may send to applicants own bank account established in Turkey. Apart from this method, it is not possible to directly invest with cryptocurrency and apply for citizenship.
Can you please explain the main types of taxes in Turkey, especially useful for those who have just moved or are planning to move to Turkey?
Individuals who are resident in Turkey (full liability taxpayers) are subject to tax on their worldwide income. Non-residents (limited liability taxpayers) are taxed only on earnings and revenues derived in Turkey.
Residents include individuals with legal permanent residence in Turkey and those who reside in Turkey for more than 6 months in a calendar year. Temporary absence does not interrupt the continuity of residence in Turkey. An exception to the 6-month rule described above applies to expatriates such as businesspeople, scientists, experts, government employees or journalists who come to Turkey to perform temporary and predefined work. Those who have arrived for education, medical treatment, rest and travel are also exempt. People in these categories are considered to be non-residents even if they stay in Turkey longer than 6 months in a calendar year.
Income Taxes ;The Turkish tax legislation includes two main income taxes, namely personal income tax and corporate income tax.
Personal Income Tax ;Real persons' income is subject to personal income tax. Income is defined as the net amount of all earnings and revenues derived by an individual within a single calendar year.
Corporate Income Taxes ;In case income elements specified in the Income Tax Law are derived by corporations, taxation is applicable on the legal entities of these corporations.
Value Added Tax (VAT); The generally applied VAT rates are set at 1%, 8%, and 18%. Commercial, industrial, agricultural, and independent professional goods and services, goods and services imported into the country, and deliveries of goods and services as a result of other activities are all subject to VAT.
Special Consumption Tax (SCT); There are four main product groups that are subject to SCT at different tax rates:
Petroleum products, natural gas, lubricating oil, solvents, and derivatives of solvents
Automobiles and other vehicles, motorcycles, planes, helicopters, yachts
Tobacco and tobacco products, alcoholic beverages
Unlike VAT, which is applied on each delivery, SCT is charged only once.
Buildings and land in Turkey are subject to real estate tax. The taxpayer is the owner of the building or land, the owner of any usufruct over the building or land, or if neither of these exist, any person that uses the building or land as its owner.
The tax base for the real estate tax is the tax value of the building or land. The tax value is the value recorded at the Land Registry. The rate of building tax is generally 0.2%, but this rate is reduced to 0.1% for buildings used as residences. The rate of land tax is 0.1%, and the rate of parceled land tax is 0.3%. These rates are increased by 100% within the frontiers of a metropolitan municipality and contiguous regions as defined by law.
There is also an inheritance tax. It is also calculated on a progressive scale, depending on the value of the inheritance.
Since the rates and system are subject to change, please directly consult with one of our lawyers for the current and exact rates.
Taxes are paid annually in two equal installments, the first at any time during the period from March through May and the second in November.
Which forms of business for foreigners in Turkey are recommended and what is the procedure, conditions and time frame for registering of each type of company in Turkey?
The most preferred form of business of foreigners is usually trade. Especially, most of the foreigners who are already trading in their own countries aim to trade in Turkey. It is necessary to consider at the activity field of the company and what it is aimed at. If there are going to be some main activity topics, they have to be established as joint stock company. For example, a joint-stock company is required for a bank, a tourism company or a holding.If the type does not have to be a joint stock company and an offer to public is not planned in the future, limited liability companies are preferred.
The limited liability company is best suited for small and medium-sized companies. The incorporation procedure is straightforward, and its characteristics make it a favourite among foreign investors. At least one shareholder is required for this business form and a minimum share capital of 10.000 TRY. The company is managed by a board of directors.
Can foreign citizen open and register a company in Turkey without a Turkish Citizen and be the sole owner of the business?
It is necessary to divide this place into two;
LLC; If you are not a Turkish citizen, and you want to establish an LLC, it can be established in such a way that you own 100% foreign shares. The only problem here is the work permit. If a foreigner is going to own a 100% company, he has to employ 5 employees to get a work permit, and only then he has a work permit and can work as a manager in his own company. If he cannot hire 5 Turkish citizens, then he must appoint a Turkish director, and THE DIRECTOR MUST HAVE AT LEAST 1% SHARE.
JSC; here, a 100% shareholder can be a foreigner, he only needs to appoint a Turkish director, and he can only remain the sole shareholder himself. The rules for the work permit apply in the same way. If he wants to get a work permit, he must get 5 Turkish employees.
Can you please explain the work visa in Turkey and it’s conditions?
The application process for a Turkish work visa are involved the two sides, the employee and the employer. You cannot start the procedures to get this visa without having a concrete job offer in Turkey. Yet the earliest you can apply is two months before the date of your departure to Turkey. Whereas, the latest you can lodge an application is one month before.
Foreigners lay their applications for work permit through the consular offices in the country of their residence or nationality.
To work in Turkey, you must apply to the nearest Turkish mission to obtain work permit and visa. Your passport, visa application form and a letter from your employer are the necessary documents for your application. Other documents should be submitted to the Turkish Ministry of Labor and Social Security (MLSS) by your employer within ten working days after your application.
Can you please explain the work permit in Turkey and it’s conditions?
A work permit can be obtained either domestically or internationally. However, the procedures for obtaining a work permit from Turkey or abroad differ. First of all, a foreigner who wants to obtain a work permit from abroad must apply for a work visa at the Consulate or Embassy of the Republic of Turkey in the country where he/she currently resides.
For the work visa application, the foreign national's passport, a petition for the work permit application, a photograph and a sample contract for the work to be performed are required.
Application from abroad: The company will make an application to MLSS for you, and if this company employs 5 Turks per foreigner, a reference code will be created for you, and this reference code will be given to the Turkish consulate in your country and your work permit will be approved. When the work permit is granted, the Turkish residence permit is also approved.
Domestic application: for this, you must have a current residence permit here. For this reason, a residence permit must be obtained first, then the company applies for a work permit for you.
What is the cost of registering a company in Turkey?
Before establishing a company in Turkey, at first you need to decide which type of company you will establish. There are mainly two companies that is suitable for foreigners. First one is Limited Liability Company (LLC) other one is Joint Stock Company ( A.Ş.)
Joint Stock Company (with a minimum capital of 50.000 lira)
Limited Liability Companies (with a minimum capital of 10.000lira)
There are also government costs of the establishing a company which is relevant taxes, publishing on official trade gazette taxes, translation and notarisation fees and registration fees which will be around 500 USD.
You have to hire an accountant as a company, it is usually an expense of 150-200 USD per month.
For the office, you should rent an office, it can be also a virtual one. Virtual offices are about 600 USD per year.
What is the conditions for Turkish Citizenship on common grounds ?
In addition to investing in the Turkish economy, there are several other ways to obtain Turkish citizenship:
By marriage –If you marry a Turkish citizen, you can be eligible for Turkish citizenship but marriage with Turkish citizen is not giving a citizenship directly – only after 3 years of marriage foreigner can apply for a citizenship with following conditions;
The couple needs to live together,
Keep away from behaviors that will damage the marital union,
Should be no threat to the national security and public order.
By birth – suitable for those who have at least one parent who is a Turkish citizen.
By employment – after five years of work under a contract.
By naturalization – after five years of living in Turkey. An important condition: during this time, you cannot leave the country for a total of more than six months. To apply, you will also need to prove knowledge of the Turkish language, you have a job or prove a sufficient level of income.
For special merit (turquoise card) –the turquoise Card cannot be granted to all foreigners in Turkey, there are special people who can obtain it including:
Foreigners with high scientific qualifications that contribute to the development of science and technology.
Foreign investors who provide manpower to the country and undertake investment projects that will support the Turkish economy.
Foreigners who work in import and export
Foreigners who work in scientific research and contribute to the development of the country's technological systems.
Foreign athletes who have achieved success at the international level in terms of artistic and sports activities.
Foreign thinkers and intellectuals who contributed to spreading Turkish culture worldwide.
Foreigners politicians who are interested in issues related to Turkey's national interests.
Do I have to pay tax in Turkey if I rent my property?
If you have a property in Turkey, in accordance with the Turkish tax legislation you must pay income tax from renting. The tax is paid in equal instalments twice a year.
The minimum rental income, which is not taxed, is: For housing – 9,500 Turkish liras per year;
If a commercial building is rented, withholding must be paid.
What is important when I rent my property as a landlord to a third party ? What needs to be done in order to be on the safe side ? Main points to pay attention before signature ?
The main goal of tenant screening is to help find quality tenants who will pay rent on time and take care of your property as if it were their own. To select responsible tenants, it’s important to filter out good potential tenants from the mountain of applications you might receive. Recently, due to the increase in inflation in the country, landlords have begun to ask tenants for an eviction notice. An eviction letter is a written declaration of will that the tenant will vacate the house on a certain date.
What is important when I rent property as a tenant? Main points to pay attention before signature for the tenant?
Inspect the property and record any current damages
Know what’s included in the rent, is VAT included in your rent or not?
Ask for can you make adjustments and customizations
Clearly understand the terms within the agreement and anticipate problems
Communicate with your landlord about your expectations
Is there a sublease authorisation
The immovable usage area is important. for example, if it is only residential, you cannot use it as a home office, because this is a violation of the contract.
Do I have to pay taxes in Turkey for my assets which are located outside of Turkey including properties, deposits in any form?
Individuals who are resident in Turkey (full liability taxpayers) are subject to tax on their worldwide income. Non-residents (limited liability taxpayers) are taxed only on earnings and revenues derived in Turkey.
Do I and my family members have to serve in Turkish Army if I become Turkish Citizen by Investment?
As a rule, Turkish Citizenship by Investment Investors and their sons who are aged over 22 years old are all exempted of military in Turkey. Therefore you will not be liable to exercise military service after you would obtain Turkish Citizenship if you are over 22. Every man under the age of 22 has to do military service when acquiring Turkish Citizenship.
If my application for Turkish Citizenship is rejected do I a have a right to apply for Turkish Citizenship again?
Yes you can re-apply to the governorship of your place of residence again by collecting your missing documents.
How my children older than 18 and my parents can become Turkish Citizen? Are only investor, spouse and children under 18 eligible for Turkish Citizenship by Investment?
With the investment made, the investor, the investor's spouse, children under the age of 18 or dependent children may be entitled to apply for Turkish Citizenship.
Children of the Investor above the age of 18 cannot apply for Turkish Citizenship together with the Investor. In order for the Investor’s children over the age of 18 and their parents to acquire Turkish Citizenship;
Make a new investment or 5 years of residence in Turkey with a residence permit.
Can my children older than 18 and parents apply for resident permit and later Turkish Citizenship? What are the conditions for that?
They can get a short-term residence permit and come to Turkey. They can get this residence permit for any of the following purposes:
for scientific research
to establish commercial connections or business
to participate in an in-service training program
for educational or similar purposes in the framework of student exchange programs;
for tourism purposes
to receive medical treatment given that you do not carry one of the diseases which are considered as a threat to public health
to attend Turkish learning courses
You are a citizen of the Turkish Republic of Northern Cyprus
And if they stay 5 continuous year in Turkey, after that they can obtain turkish citizenship.
If Invest USD 500 K as a bank deposit for Turkish Citizenship, Do I have to pay tax for 500 K and it’s interest?
No you don’t have to pay, but you have to pay tax for the earned interest.Since the interest rates are subject to change, please directly consult with one our lawyers for the current and exact rates.
May I freely send my deposit in Turkish Bank outside of Turkey after three years ?
Yes you can.
What is Yuvam Hesap and main advantages of this type of account?
YUVAM account is a Turkish Lira Time Deposit account which gives you an opportunity to invest your foreign currency funds to TURKEY by offering Central Bank guarantee of protection against exchange rate volatility and also provides an additional return.
Protect the value of your savings against the exchange rate risk.
Offer you an FX principal guarantee as well as an opportunity to earn additional return at maturity.
Bring your savings into the country’s economy.
The exchange rate difference on the interest/profit share and your additional return are under the guarantee of the Central Bank.
What will happen if I withdraw my 500 USD K During 3 years?
The investor must commit that he/she will not withdraw USD 500.000 for 3 years. Deposit cannot be withdrawn from the bank for 3 years. If they withdraw the money in 3 years, the citizenship will be cancelled retrospectively.
Can I invest USD 500 K in different Turkish Banks?
No, it should be in the same bank.
How long does it take the whole procedure for Turkish Citizenship by Investment and is there any fast track option?
Once after the investment is completed, and post-investment works are duly done, then the acquisition of official Turkish Citizenship status takes formally around 3-5 months at the most.The fastest way to citizenship would be to buy property. Although some people say there is a fast track, don't believe it, they may be scammers.
Is it must to change the foreign currency to Turkish Lira for the process of property purchase for foreign citizens and make payment to the seller in Turkish Lira?
Foreigners that do have not Turkish citizenship must make the payment in Turkish Lira. Firstly, the buyer has to make an exchange to a Bank, then the bank exchanges the price with the Central Bank of Turkey. The payment will be made in Turkish Lira to the foreign buyer. Thus, the foreign buyer is allowed to buy the real estate by Turkish Lira. Or the investor will send foreign currency to the seller and the seller will convert this money into Turkish Lira on behalf of the investor and receive an exchange certificate.
Is legal process for collection of money from someone in Turkey difficult?
According to the Turkish legislation, the debtor is required to pay a specified sum of money, as established between the parties but if this fails, the creditor can request an order of peremptory payment, in which case the debtor is obliged to pay the debt/part of the debt in 10 days. If the creditor does not receive a confirmation of payment in this sense, he or she can file for a lawsuit in a period of 5 days after the debtor has received his order. Or direct execution proceedings are carried out. if the debt is not paid within 7 days after the notification, the debt is finalized and the lien can be proceeded with.
Does Turkish Citizenship allow dual citizenship? Will it affect my other citizenships if I become Turkish Citizen by Investment?
Dual citizenship is recognised in Turkey. If your own country does not allow dual citizenship, if it is found out that you are a Turkish citizen, you can be deprivation of citizenship of citizenship in your own country. However, the Turkish authorities do not notify any state that you are a Turkish citizen.
What if I have a criminal record in my own country? Does it affect my application for Turkish Citizenship by Investment?
Having a criminal record will affect your application you must not have any criminal record. But still, the criminal record is not a document that is on the list of required documents. The state conducts an archival search, but if you are not be sought with red notice by INTERPOL or do not have a financial crime background, it will not be a problem.
Can I and my family choose an new name and surname so new identity when We become a Turkish Citizens?
Yes you can choose a new Turkish name and surname for you and your family. You cannot select English name instead.
Does Turkey report to the relevant authorities of country of origin of the main applicant that the applicant and his family have applied for Turkish Citizenship? Is there any report system?
Can my children study in Turkish Colleges, schools, Universities etc. without any restrictions?
After becoming a citizen, you can attend Turkish schools without any restrictions.
Can my family benefit from Turkish Insurance and Health System?
The Turkish healthcare system is completely free. Even in very serious and costly diseases, all expenses are covered by the state. After becoming a Turkish citizen you can benefit from the Turkish Insurance and Health system because you will have the same rights as Turkish citizens.
Do I have same right as Turkish Citizens, if I become Turkish citizen by Investment?
Yes, and it gives you the same rights as Turkish citizens by birth.
Do I need to come to Turkey for the resident permit and Turkish citizenship application?
You can also handle your citizenship transactions before coming to Turkey. All process can be done remotely. We recommend that you work with a successful Turkish immigration law firm in Istanbul, Turkey for the application.
Do I need to prove the source of funds?
Is there any minimum stay requirement so need to live and stay in Turkey during the application procedure?
No, you do not have to live in Turkey for a certain period of time to obtain citizenship or a short-term residence permit in purpose of citizenship. If you only want to get residence permit, then you need to stay until your residence permit is approved.
Can I work freely without need of any work permit in Turkey once I become Turkish citizen by investment?
As a Turkish citizen, you can legally work, and you don’t need a work permit for that.
Is it possible for the foreigner to buy a land in Turkey ? Is there any restrictions?
Mainly there are no legal restrictions against foreigners regarding the acquisition of property ownership. You can’t acquire properties in Security Zones and Military Forbidden Zones. You’re only allowed to acquire a maximum of 30 hectares. Foreign buyers are also restricted as to the size of land they can buy, it must not be greater than %10 of the town’s total land area.
5 tips when moving to Turkey?
1. The weather is warm and welcoming
A country as large as Turkey will inevitably have a few different climates, but for the most part, you can expect hot, dry summers to follow cold, rainy winters. Accordingly, keep a wide variety of clothes with you
2. It will be good for you to start learning languages so that you can make friends.
3. Strangers are friendly and generous.
You’ll find that after meeting someone once or twice, they’ll commonly invite you home for a meal, ask if they can treat you to a meal at their (or, more likely, a family member’s) restaurant, or offer to show you around town.
4. The food is delicious.
Turkish food is every bit as varied as the country’s culture, meaning you can delight your taste buds in innumerable ways. Sample some spicy sucuk sausages and meat or cheese-filled pastries called gözleme alongside a rich Turkish coffee, before digging into your main course.
5. Carry cat food with you
You will encounter a lot of stray cats on every street in Turkey. you can make them happy by carrying cat food with you.
Is it possible to buy property and invest in Turkey by using bank credit ?
Can you describe 5 Useful apps in Turkey?
E-DEVLET : E-Government is the electronic offering of services normally rendered to citizens by the Government. This way, the Government targets offering its services to the citizens through the easiest and most effective means possible, in a high quality, speedy, uninterrupted, and secure way. With the e-Government concept that has started to replace the bureaucratic and classical government concept, the aim is to offer every government agency and every individual easy access to systems using information technologies and to Government agencies and services offered by these agencies.
MHRS: with this app you can make an appointment by selecting the hospital and doctor in the city you want.
ENABIZ: with this app you can check your medical tests results, x-rays, appointment from registered family doctor and prescriptions.
SAHIBINDEN: you can find all kinds of goods in this app. It is mostly used for new or second-hand cars, houses for sale and rent.
MOOVIT: it is used to find out which public transportation to take between two locations.
KADES: Kades is an application developed for women. If you encounter a situation that makes you uneasy, press the button on the application and the police will come to your location.
Can you please describe the features of Power of Attorney in Turkey? How to give POA and main points to pay attention before giving POA?
If there will be a power of attorney containing real estate purchase authorization, it must necessarily be issued either from Turkish notaries or Turkish consulates abroad. All powers of attorney that do not include the authority to purchase real estate, if your country is a party to the apostille, can be issued from notaries and apostille can be obtained. In this way, it will become legal in Turkey.
You may issue the power of attorney at all notaries in Turkey. Every Turkish embassy and consulate acts also as a notary public abroad by appointment. After you issue this POA at a notary in your country, you need to get an apostille from the competent authorities, such as the district governorate, municipality, etc. The critical point is that some POAs are only valid with photos in Turkey including real estate purchase and divorce.. You better ask your local notary to add your photo to the POA as requested.
Is there any specific requirements of power of attorneys for real estate transactions and divorce in Turkey?
Yes, these two authorizations must be issued specially in accordance with the legislation and must have photos.
Is it possible to buy a business in Turkey for a foreigner? Any specific requirements?
Foreigners in Turkey can set up or take over a company and become a shareholder in any business. For work permit this share can not be lower than 40%and all other requirements should met. For sole proprietorships, it is mandatory to have a work permit as well as a residence permit of 5 years. It is very important to do DD before purchasing a existing company.
Can you please describe prenuptial agreement and it’s features according to Turkish Law?
In Turkey, spouses can either choose to be directly under marital property regime or arrange a prenuptial marriage agreement in accordance with the Turkish Civil Code. This agreement basically allows spouses to arrange the principles of property-sharing so each will be accountable for their own propertial debts. It also features the principle of not making individual properties a subject of divorce.
What are the requirements for cancellation of Turkish Citizenship according to Turkish Law?
At the demand of a Turkish citizen, permission may be granted to renounce Turkish citizenship in order to become a citizen of another state by a decision of the Ministry in accordance with Article 25 of the Turkish Citizenship Law No. 5901:
1. Persons requesting permission to renounce their Turkish citizenship may be granted an exit permit or exit certificate by the Ministry if they meet the following conditions:
a) To be major and to have the power of discernment.
b) To have acquired the citizenship of a foreign state or to have convincing indications that he will acquire it.
c) Not to be one of the persons wanted for any crime or military service.
d) Not to have any financial and criminal restrictions on them.
What are the requirements for deportation from Turkey according to Turkish Law?
Being a supporter or member of a terrorist organization,
Those dangerous to public safety and health,
Vagrants and beggars,
According to the Turkish Penal Code, people who want to disrupt the security and administration of the Republic of Turkey,
Unauthorized workers who do not have a work permit in Turkey,
Those making money illegally and trafficking in white women,
Those who entered Turkey illegally without authorization,
Those whose residence permit in Turkey has been revoked,
Those who forge documents related to visas and residence permits
Is it possible to legalize the foreign country’s court decision in Turkey? What is it’s requirements?
A foreign court decision can be recognized in Turkey through the recognition and approval procedure. For this decision to be enforced there is also a procedure called enforcement.
The requirements for a court decision to be recognized/enforced in Turkey are simple: the Turkish courts should not have the power of exclusive jurisdiction regarding that matter, the decision should not be against the Turkish public order and finally the decision should be made in compliance with the defendant’s right to defend. Also an agreement or law that makes the enforcement possible should exist between two countries.
How to secure a deal when buying real estate in Turkey?
It will be more useful for you to carry out these transactions with a knowledgeable and relevant Turkish lawyer.
After purchasing a property, may I make a will in Turkey?
Once the property is purchased for minimum 400.000 dollars and you have completed the other necessary procedures for Turkish citizenship by Investment, you will have inheritance rights in Turkey so you will also have all the rights of every Turkish citizen and this will last for life. In the light of this information, of course, a will can be prepared through a notary public and there is a low fee for this.
If you just buy the property in Turkey and don't apply for the Turkish Citizenship, you have also inheritance rights and after the purchase, you can directly go to the Notary Public and a will can be prepared through a Notary Public, that will ease heirs to use the inheritance rights in Turkey and procedure for transfer of inheritance in Turkey.
Undisputed heirs will receive their share of the inheritance, regardless of the availability of a will.
Where and how to draft a will in Turkey?
To draft a will in Turkey you must be at least 15 years old and obtain the power of discernment. Those who obtain both these features may draft a will in three ways: officially, by handwriting of the legator or verbally. An official will can be made in a notary public with a civil officer and two witnesses present. If you cannot speak Turkish you will also need a translator present in the same spot.
How to execute a will in Turkey?
In general, wills must be in writing and signed by the testator/trix in the presence of two witnesses before a public notary, magistrate or an authorized officer. In practice, official wills are made by public notaries. Witnesses must be adults and must have full legal capacity.
The bequeathed property does not pass to the testator by itself. Fulfillment of a specific property will be requested from the testamentary debtors, i.e. the heirs of the testator. However, if there is a will executor, it can be requested from him/her first; if not, it can be requested from the legal or appointed heirs.
What do you advice to the foreigners before registration of marriage with a Turkish Citizen?
If they do not want to live here, it is not recommended to get married here, because the process in the municipality is a little long and people need to stay here during this time. Apart from that, they need to think about which marriage regime they should choose.
What are the procedures of divorce for foreigners in Turkey, division of property and custody agreement.
For foreigners to get divorced in Turkey, they must have resided in Turkey for at least 6 months. Foreigners who fulfill this requirement can get a divorce in the family courts at their place of residence. There can be two types of divorce; negotiated divorce and contentious divorce. If the spouses want to divorce by agreement, they must prepare a protocol and submit it to the court. All matters written in this protocol are decided by the hand of the judge and become valid.