Turkey's Golden Visa programme, also known as the "Investor Visa," or "Citizenship through Investment Programme" is the program designed to attract foreign investment to the country by offering residence permits and citizenship to individuals who make qualifying investments in Turkey.

The program, which was launched in 2017, is open to individuals of all nationalities, regardless of reciprocity, and offers a number of benefits to qualified investors. Some of the key benefits include the ability to live and work in Turkey without the need for a separate work permit and residence permit, and the opportunity to apply for Turkish citizenship and Turkish passport for the investor and the immediate family. As a Turkish passport holder the investor will have the ability to travel visa-free or visa-at-the-border to over 120 countries.

The Golden Visa program has a number of requirements that must be met in order to qualify for a residence permit and consequtively to a passport. These include making a minimum investment of $400,000 in real estate in any part of Turkey or $500,000 in Turkish government bonds or a deposit in a Turkish bank. Additionally, applicants must pass a background check and have a clean criminal record regarding some certain crimes. The applicant must not be found a threat to national security as well upon the result of the investigation to be made by the state.

The program has been successful in attracting foreign investment to Turkey and has been particularly popular among individuals from Middle Eastern, African and Asian countries. The Turkish government has reported that over 50,000 residence permits followed by passports have been issued under the Golden Visa program since its launch in 2017 and the programme have attracted more than 20 Billion USD to Turkey.

Despite some criticisms, the Golden Visa program remains a popular and effective way for individuals to gain residency and neutralisation in Turkey while also making a valuable contribution to the country's economy. The government has been continually updating the rules and regulations to make it more attractive for investors.

Overall, Turkey's Golden Visa program is a valuable tool for attracting foreign investment to the country and has been successful in attracting a significant number of individuals to invest in the country. While there are certainly some valid concerns about the efficiency of the program, the benefits it provides to both investors and the Turkish economy as a whole cannot be ignored.

by Bünyamin ESEN, Senior Investment Consultant & Founding Partner