Obtaining Turkish citizenship through the Private Insurance Fund (BES) is an attractive pathway for foreign investors seeking Turkish citizenship by investment. The Bireysel Emeklilik Sistemi – BES program requires a minimum investment of at least $500,000 into a private pension scheme approved by the Turkish government.
This investment must be held for at least three years to qualify for citizenship. During this period, the funds cannot be withdrawn, ensuring a long-term commitment to Turkey’s economic development.
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Investors can select from a range of authorized pension schemes, each offering various benefits and returns. The process involves selecting a suitable pension scheme, making the requisite investment, and preparing all necessary documentation, including proof of investment and personal identification documents.
Upon submission, the application undergoes thorough review by Turkish authorities, and successful applicants, along with their families, can obtain Turkish citizenship. This route not only offers economic stability and potential financial returns but also provides visa-free travel to numerous countries.
Akkas & Associates Law Firm specializes in guiding clients through the legal and procedural aspects of this process, ensuring compliance and a seamless path to acquiring Turkish citizenship. For personalized assistance and more detailed information on Turkish citizenship through BES, please contact our expert team.
Understanding Turkish Citizenship by Investment in BES
Acquiring Turkish citizenship has become an increasingly viable option for foreign nationals, particularly through investment strategies such as the Private Insurance Fund (BES). At Akkas & Associates Law Firm, we provide comprehensive legal guidance to facilitate this process, ensuring compliance with Turkish citizenship laws and maximizing the potential for a successful application.
The Turkish government has introduced various investment schemes to attract foreign investors, one of which is the Private Insurance Fund (BES). This system allows foreign nationals to obtain Turkish citizenship by investing in a private pension scheme, contributing to the country’s economy while securing a future in Turkey.
Legal Grounds of Turkish Citizenship by Private Insurance Fund (BES) Investment
Legal Grounds for Citizenship through BES
According to Article 20, Paragraph 2(f) of the Regulation on the Implementation of the Turkish Citizenship Law, as amended and published in the Official Gazette dated May 13, 2022, No. 31834, “foreigners who invest a minimum of 500,000 USD or its equivalent in foreign currency into funds determined by the Insurance and Private Pension Regulation and Supervision Agency, and who keep the investment in the private pension system for at least three years, are eligible for exceptional Turkish citizenship.
These foreign currency amounts must be deposited in a bank operating in Turkey and sold to the Central Bank of Turkey before the investment. The procedures for this are determined by the Central Bank of the Republic of Turkey (CBRT), which has published the ‘Instruction on Foreign Currency Sales to the Central Bank of Turkey under the Regulation on the Implementation of the Turkish Citizenship Law.’”
Akkas & Associates Law Firm, with its extensive experience, assists clients in understanding and navigating the legal requirements of Turkish Citizenship Law No. 5901 and its related regulations.
Our team ensures that all aspects of the investment and application process comply with the stipulated legal grounds, providing a seamless and efficient path to obtaining Turkish citizenship through the BES investment.
Eligibility Requirements
To be eligible for Turkish citizenship through the BES, applicants must meet the following criteria:
- Minimum Investment: The applicant must invest a minimum of 500,000 USD or its equivalent in foreign currency, as stipulated by Turkish law, into a private pension scheme. The exact amount may be subject to change, so it is advisable to consult with a legal expert for the current requirements.
- Investment Duration: The investment must be maintained for at least three years. During this period, the funds should remain within the private pension scheme without withdrawal.
- Age and Health: There are no specific age or health requirements for investing in the BES; however, standard conditions for obtaining Turkish citizenship apply.
Steps to Apply for Turkish Citizenship via BES
- Choose a Pension Scheme: Select an authorized private pension scheme that meets the legal requirements set by the Turkish government.
- Make the Investment: Deposit the required minimum amount into the chosen pension scheme. Ensure that the investment is structured to comply with the three-year holding period.
- Document Preparation: Gather and prepare all necessary documentation, including investment proof, passport copies, biometric photos, and other required legal documents.
- Application Submission: Submit the citizenship application through the appropriate Turkish authorities, along with all supporting documentation.
- Approval Process: The application will be reviewed by Turkish officials, and if all criteria are met, the applicant will be granted Turkish citizenship.
Benefits of Turkish Citizenship through BES
- Economic Stability: Investing in a Turkish private pension scheme provides financial security and contributes to long-term economic stability.
- Citizenship for Family: The primary applicant’s spouse and dependent children can also obtain Turkish citizenship.
- Travel Freedom: Turkish citizenship offers visa-free or visa-on-arrival access to numerous countries worldwide.
Why Choose Akkas & Associates?
Navigating the legal complexities of obtaining Turkish citizenship through investment can be challenging. Akkas & Associates Law Firm offers expert guidance and comprehensive legal support throughout the entire process.
Our experienced Turkish citizenship lawyers team ensures that your investment complies with all regulatory requirements, facilitating a smooth transition to Turkish citizenship.
Contact us for Turkish Citizenship with BES
Acquiring Turkish citizenship through investment in the Private Insurance Fund (BES) is a viable option for foreign investors. By making a qualifying investment in an approved private pension scheme and maintaining it for a minimum of three years, investors can secure Turkish citizenship for themselves and their families.
This pathway provides economic benefits and access to visa-free travel across many countries. Akkas & Associates Law Firm offers expert legal guidance to navigate this process efficiently. For detailed information and assistance with your Turkish citizenship application through BES, contact Akkas & Associates Law Firm today.