Turkish Citizenship by Investment – FAQ Answered 2019

Hello everyone! Welcome to KOOBY talks. On our previous video we’ve already talked about the eligibility and requirements
to get Turkish citizenship by investment so today we’re answering the frequently asked questions that we have received from our clients with my colleague Ece Özlü, so let’s get started! Well is there military service obligation for the
applicants? Yes there’s a military service obligation in Turkey that is
only applicable to males who are younger than 22 years old also for those who can
prove that they have already completed or deemed to have completed military
service in their former country shall not be held subject to active service so
is there a special kind of takes responsibility for the non-resident
citizens? There is no difference between a resident or non-resident Turkish
citizen in the sense of tax responsibility and non-resident Turkish
citizens only pay taxes for his or her earnings, assets and consumptions located
in Turkey. So, do Turkish citizens have to report about their earnings or bank
accounts or assets located abroad? Unlike the United States tax system Turkey
doesn’t require its citizens to report their foreign assets or bank accounts
for taxation there is no obligation to declare international incomes, assets or
businesses for residents in Turkey are there any situations that may cause the
loss of citizenship or annulment? Turkish citizenship may be deprived only by a
decision of the president in some cases for example if a person is rendering
services for a foreign state which are incompatible
with the interests of Turkey or if a person has voluntarily continuous
rendering any kind of services for a state that is at war with Turkey or if a
person is voluntarily rendering military service for a foreign state without
obtaining the permission of the president and finally if there is an
investigation or prosecution in addicted against a person due to some criminal
acts which I listed under Turkish criminal code also there’s a situation
for the annulment of such application which is if the applicant misleads the
authorities during the application process the application may be annuled. Will the decision of an annulment or deprivation will affect the family
decision of deprivation is individual it shall not affect the family but on the
other hand the decision of annulment shall be applied to the family. So will
decision of citizenship the hereditary for the applicant’s future generations?
The applicant, his or her spouse and their children can benefit from the
first application once the Turkish citizenship is lawfully acquired, it
shall be inheritable due to the jus sanguinis principle are there any
restrictions for certain nationalities or for applicants who have multiple
citizenships neither holding certain nationalities nor holding multiple
citizenships is linked to restriction with regard to acquisition of Turkish
citizenship at the time being please be aware that there are some countries that
doesn’t allow its citizens to hold multiple citizenships,
however Turkey is not one of them. So is it possible to apply for Turkish
citizenship by investment in Real estate development projects? With the
latest amendments it is now possible for the applicants to comment application
procedure by investing in real estate development projects however of course
there are some conditions to be met which require further guidance. Well, is
it possible to apply for citizenship acquisition with an investment under the
name of a company? It is strictly regulated by the law that the investor
must be the applicant in person in other words it’s not possible for the
applicant to invest under the name of neither a company nor any legal person or
entity. How does the acquisition process is finalized is there an announcement in
the Official Gazette or a notification to the origin country of the applicants acquisition of Turkish citizenship is
finalised by the official decision of president of Turkey
so it is actually president’s decision whether to publish it on Official
Gazette or not so such decision is highly unlikely to be published. Hmm, is
it possible to send the cost of the property from a different account while
the property’s title in the applicants name there are no regulated restrictions
about the source of funding but for the sake of such exceptional application it
is better for the sender to be the applicant in person are there any
restrictions on funds attract Turkey there aren’t any general restrictions on
funds entering Turkey as long as such funds or the sending and receiving
parties are not subject to any international criminal investigation
mainly focusing terrorism or money laundring, also all the management’s
first shall be examined by the financial crime investigation board. Thank you for watching KOOBY Talks if you have any further questions please
do not hesitate to contact us see you next time

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