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How does the capital asset investment option work for Turkey’s investment immigration program?

I want to obtain Turkish citizenship by participating in its investment immigration program. I have read a lot about the real estate investment option. However, the capital asset investment option interests me more. Could you please explain how this route works in terms of requirements and timeline?


Answers
  • Onlinehukuk.net Law Firm
    November 17, 2019

    The "By-law On The Implementation Of The Code of Turkish Citizenship" has been recently amended. According to the latest amendments, investors who meet at least one of five investment types which are described in the code would be eligible to acquire Turkish Citizenship not only for them but also for their family members, since 2019. One of the five different ways of acquiring Turkish Citizenship is to be accepted via investment as a fixed asset. According to the law, investors who are determined by the Ministry of Industry and Technology that they have invested $500,000 as a fixed asset would be declared by the By-law of the Presidency. All the applications request to acquire citizenship by investing $500,000 fixed asset shall be submitted with the required documents to the Ministery of Industry and Technology. Investment as a fixed asset could be purchasing either real estate or other value to assess them for the production of goods or services. The expenditure of the last three years would be considered while calculating the expense of the fixed assets for the future years. In the case of subsidiary investment to the existing and available investment, the calculation would be fulfilled by considering the increase of the fixed asset from the beginning of the subsidiary investment. We recommend our clients whose aim is just to acquire citizenship the way of acquiring by "purchasing a real estate" instead of "investment as a fixed asset." Because acquiring citizenship by purchasing a real estate is much cheaper and easier as procedural than by investment as a fixed asset.

  • Sagir Attorneys-at-Law
    November 15, 2019

    In order to benefit from the capital asset investment program, the investor must make a fixed capital investment that is worth at least $500.000 and a certificate of conformity must be issued by the Ministry of Industry and Technology. Capital asset investment can be in the form of purchasing a land, building or equipment with the intention of utilizing these assets in the production of goods or services. The investor must establish a company and these fixed assets must be registered as the capital of the company. The ministry has not yet released clear public guidelines on this certificate, unlike the General Directorate of Land Registry that is in charge of the real estate investment option. Therefore, it is crucial to establish contact with the ministry before making any sort of fixed capital investment, either by the investor themselves or through the help of an attorney.