Kurucuk & Associates Law Firm Releases Guide on Turkish Citizenship by Investment
*ISTANBUL, TURKEY / ACCESSWIRE / April 3, 2024 / *Kurucuk & Associates Law Firm, a leading legal practice based in Istanbul, Turkey, has recently published a comprehensive guide detailing the process for obtaining Turkish Citizenship by Investment, aimed at foreign investors seeking to navigate the complexities of this lucrative program.
In a move to attract foreign investment and foster international ties, Turkey offers a streamlined pathway to citizenship through investment. Under the provisions outlined in Article 12 of the Turkish Citizenship Law No. 5901 and Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, foreign individuals can acquire Turkish citizenship by making a significant investment in the country's economy.
*Who Qualifies for Turkish Citizenship by Investment?*
Foreign investors, along with their spouses and children under the age of 18, can apply for Turkish citizenship by depositing a minimum of $500,000 USD or its equivalent in a Turkish bank. Unlike some other citizenship-by-investment programs, Turkey's scheme imposes no restrictions based on nationality, offering an inclusive opportunity for individuals from around the globe.
*Understanding the Investment Process*
The investment process involves several steps meticulously outlined to ensure compliance and transparency:
*Opening Bank Accounts:*
Investors must open accounts in Turkish banks in both Turkish Lira and the desired foreign currency.
Funding the Investment: The investor transfers the specified investment amount (USD 500,000 or its equivalent) into their Turkish account from their home country or any other foreign account.
*Currency Conversion:*
Upon receipt of the investment, the funds are converted into Turkish Lira and deposited in a blocked account for a minimum of three years.
*Utilizing YUVAM Accounts:*
To protect against currency fluctuations and offer attractive returns, investors are encouraged to open YUVAM accounts, which provide competitive interest rates and shield against exchange rate risks.
*Residency Permit Application:*
Following the investment, investors or their legal representatives can apply for a one-year residency permit, facilitating their stay in Turkey during the citizenship process.
*Streamlined Citizenship Application Process*
Once the residency permit is secured, investors can initiate the citizenship application process. Required documents include biometric photographs, birth certificates, marriage certificates (if applicable), and passport translations. For children under 18, additional documentation may be necessary, such as parental consent.
*Expert Guidance from Kurucuk & Associates Law Firm*
Navigating the complexities of Turkish citizenship by investment can be daunting. That's where Kurucuk & Associates Law Firm steps in. Based in Istanbul, Turkey, our firm specializes in immigration and citizenship law, providing comprehensive support to investors seeking Turkish citizenship through investment.
*About Kurucuk & Associates Law Firm*
Kurucuk & Associates Law Firm is a renowned legal establishment headquartered in Istanbul, Turkey. With a team of experienced attorneys well-versed in immigration and citizenship matters, we offer tailored solutions to meet the diverse needs of our clients.
*For media inquiries or to learn more about Turkish citizenship by investment, please contact:*
Kurucuk & Associates Law Firm
info@kurucuk.com.tr
+90 212 812 25 00
AGAOGLU MASLAK 1453 - Maslak Mahallesi,Tasyoncasi Street, C13 Block, Unit:10, 4th floor 34398 Sarıyer/Istanbul Turkey
https://www.kurucuk.com.tr/
*Note*: This press release is for informational purposes only and does not constitute legal advice. Individuals interested in Turkish citizenship by investment should consult with legal professionals for personalized guidance.
*SOURCE: *Kurucuk & Associates Law Firm
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