Turkish Citizenship by Investment program requires $400,000 investment, however you need to consider the hidden costs to calculate the total budget. There are investment related expenses and citizenship related expenses, and this video explain all the hidden costs of the Turkish CBI program. Watch this video to learn about all the costs and to calculate your total budget for the Turkish passport by investment program.
The investment related costs depend on your investment. There are not extra investment costs for $500,000 bank deposit option and $500,000 private pension fund options. However, there are many costs of buying a property in Turkey to apply for the Turkish citizenship by investment. There is 4% title deed tax for every property purchase in Turkey and it is split half/half between buyer and the seller. If you are buying a new property, you also need to pay Value-Added-Tax, which ranges from 1% to 20% depending on the type of property and the square-meter of the property. If you are buying a resale property in Turkey, the standard real estate agent commission is 2%. The hidden costs of buying real estate in Turkey as a foreigner are translator fee for the title deed if you don’t speak Turkish (apprx $200), power-of-attorney fee if you want another person to complete the property purchase for you (apprx $300), title deed processing fee (apprx $500) and valuation report fee ($1,400). These are the hidden costs in the investment phase of the Turkish citizenship by real estate investment option.
There are also costs during the residence permit and Turkish citizenship application. Firstly, you need to prepare your birth certificate, criminal record and marriage certificate with apostille. Then, these documents need to be translated to Turkish and then notarized. Turkish Translation and notarization costs apprx $60-$100 per page depending on the language and the character count of the document. When you apply for the investor residence permit in Turkey, you need to pay residence permit tax ($100), residence permit card fee ($20) and single entry visa tax ($200). When you apply to Turkish citizenship by investment, the citizenship application fee is approximately $25. Turkish ID card fee is $10 and Turkish passport for 10 years costs $300.
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