Last Updated on 11/03/2023
Turkey launched the Turkish Citizenship by Rea estate investment program in 2017. It was an initiative to encourage FDI and boost the country’s real estate market internationally. Besides the Real estate scheme, investors can choose from the different methods under this program. Since the establishment of the investment program, it underwent many amendments. The government stated first that the investment value would be at least $1 million when the citizenship by investment program in Turkey was first introduced. But this didn’t draw in enough investors. Therefore, the Turkish government reduced the required amount of investment to $250,000 in September 2018.
Later, in 2022, the minimum fee increased from $250,000 to $400,000 due to the rise of applicants seeking Turkish citizenship.
Turkish Citizenship by Real estate Investment
Turkish Citizenship by Real estate investment program offers a variety of opportunities. To be eligible for Turkish citizenship acquisition, a person must buy a property or more in Turkey, with a minimum value of $400,000. He can purchase any type of property he prefers. It can be a villa, an apartment, or land. Yet, according to the latest regulations, in case of the purchase of multiple properties, they must be registered on the same preliminary sale contract. In other words, multiple contracts are not accepted anymore even if their combined value exceeds 400k$.
Moreover, the shared purchase is no longer allowed for foreign buyers who would like to benefit from the Turkish citizenship investment program.
Eligibility to Turkish citizenship by real estate investent Program
To be eligible for Turkish citizenship by real estate investment program, the main candidate must:
- Be at least 18 years old.
- Pay the fees and taxes associated with the process
- Never has overstayed his visa in Turkey.
Required document
- All applicants’ birth certificates
- Each applicant’s passports Residence Proof (Recent utility statement)
- colorful passport photographs with biometric data for each candidate
- A marriage license
- Spouse’s death or divorce statement (optional)
- Evidence that each applicant has no criminal background
- A statement of health insurance (valid in Turkey)
- Tax ID number
- Certificate of Eligibility for investment in Turkey
- Foreign currency exchange certificate
Note: Applicants may include their spouses, any dependent children under the age of 18, and any children with disabilities regardless of age. Furthermore, to obtain a Certificate of Eligibility for investment in Turkey, the applicant must apply to the Turkish Land Registry and Cadaster of the Ministry of Environment and Urbanization.
Benefits of Turkish Citizenship by Real estate Investment
Eligibility to work and Study in Turkey
Persons who acquire Turkish passports through the real estate investment programs are allowed to reside, work, and study in Turkey. Therefore, if they intend to relocate with their families, they can be comfortable with their children’s education since citizenship is granted to the spouse and the children under 18 years old as well.
Fast Process
This can be the fastest and most practical method to acquire Turkish Citizenship. In fact, foreign investors can obtain a Turkish passport within four months after submitting their application.
E2 Visa in the USA
Applying for E2 Visa can be difficult for certain nationals. Yet being a Turkish citizen is an advantage in this topic.
Turkey and USA signed US E2 visa agreement on May 18, 1990. The US E2 visa is open to people who want to start a business in the US or invest in one that already exists. Whereas the E1 visa is available to traders. A non-immigrant visa known as the E2 Visa gives investors the right to go and work in the US in exchange for their investment. It must be sizable and made in a legitimate, active business. The main applicant’s spouse and their minor children up to age 21 will also have the right to live in the US.
No language or Residency Requirement
To benefit from the Turkish Citizenship Real estate investment program, foreign nationals do not have to reside in Turkey for a certain period. Moreover, there is no requirement for Turkish language knowledge.
Dual Citizenship
Dual citizenship is permitted in Turkey. Thus applicants don’t need to give up their current citizenship to obtain a Turkish passport.
124 Visa-free destinations
Turkish passport global rank improved to become the 37th strongest passport in the world with a mobility score of 124 according to the Passport Index.
Turkish citizens can travel to around 124 nations without a visa, a visa on arrival, or an electronic visa.
MEO Consultants can offer a thorough advisory if you need more details on the Turkish Citizenship real estate investment program. Our skilled staff provides full-service consulting upon request through a risk-free initial consultation if you’re looking to invest in Turkish real estate. Learn more about our services.
