Turkey citizenship by investment package has recently gained popularity among both local and foreign investors. It is due to several factors. The first and foremost factor is the increasing pace at which the country is progressing towards modernization. Every year, Turkey makes great progress towards transforming itself into a modern European state and is thus attracting more investments from international investors.
Turkey’s contemporary growth has led to an improvement in its infrastructure and an enhanced sense of living conditions. Hence, Turkey is becoming a preferred destination for investments from Europe as well as Asia. The recent boom in tourism has further added to the attractiveness of Turkey as a tourist hub. And the biggest reason why foreign investors are investing in Turkey is the fact that it offers them easy access to global and regional markets.
Investment in Turkey
Investment in Turkey for citizenship can be made in a variety of sectors. However, the best-suited area for investment in the health care, IT, and tourism sectors. For this, there are numerous investment programs introduced in Turkey. Turkey’s central development scheme, the AKP, has helped introduce several investment programs in these sectors, including sell and rent, capital transfer, and visa-free entry schemes.
Open a Turkish Bank Account
One of the simplest ways to invest in Turkey would be through the establishment of a Turkish bank. There are several banks in Turkey-based across various regions, with branches throughout the country. You can open a Turkish bank account either by getting a license or by getting registration through the Turkish authorities. You need not have an active bank account to invest in. You may also invest through a private Turkish bank if you do not have the requirements mentioned above. In case you wish to invest through Turkish banks, you need to meet certain requirements such as valid proof of residence, a minimum deposit of investment for Turkish citizenship, a minimum balance, and yearly deductions for income tax.
Purchase and Selling of the Properties
Real estate properties in Turkey are abundant and offer great returns. However, you need to follow rules and regulations regarding the purchase and selling of the properties, and you must have the required permits. Real estate property in Turkey can be purchased for up to three years at the most, and you can sell it within that period only. You can invest up to two million Turkish lira at the most in the real estate sector, but you need to follow the rules regarding the purchase and selling of the properties.
Purchase of Land
Another common method of investment in Turkey would be through the purchase of land. There are several investment opportunities for property purchase in Turkey, but you need to follow the rules and regulations regarding the purchase and sale of such property. The investment program in Turkey for land purchases is quite extensive. The most important benefit that you get from the investment program for land purchases is the exemption from import and export duties on the purchase price.
Investment in Turkey
If you want to get involved in investments in Turkey, then you should know that investing through mutual funds, individual investors and legal entities are very popular. An individual investor can trade in Turkey through trading companies established in the country. There are many brokerage firms and companies in Turkey that help traders, companies, and individuals purchase and sell securities, mutual funds, and other financial products. However, if you want to get involved in the real estate market, then you can buy plots or properties through legal entities, such as the Real Estate Istanbul.
The other option available for investing in Turkey would be through the purchase of land through a legal entity, such as a limited liability company or an offshore agent. An offshore agent can act as the general directorate for a specific property in Turkey, and you can act as the company’s agent. In this case, you will become the general director of the Turkish limited liability company that holds the land. The investment plan is set by the investor, and he will be able to decide whether he wants to invest in the residential projects or in the projects that focus on the development of the tourism industry.