Turkish Citizenship by Capital Investment
Turkey announced a new citizenship program based on investment in 2016 first time. The new citizenship scheme grants residency and Turkish citizenship to applicants who invest in real estate or bank deposit. The minimum capital to be invested in real estate was 1.000.000 USD and the minimum capital investment was 2.000.000 in the first version of the law. However, in 2018, Turkey has decreased the minimum capital investment limit from 2.000.000 USD to 500.000 USD. The Turkish Government has also reduced the minimum property investment from 1.000.000 USD to 250.000 USD. With the new investment limits, it is now easier for foreign investors to obtain Turkish passports. According to the nomad passport index, Turkish passport holders have visa-free or visa on arrival access to 111 different countries in the world. With this change, Turkey has became one of the best options among the countries that are offering golden visa programs.
Obtaining Turkish Passport By Investing in Turkey
Turkish citizenship can be obtained by investment in three different ways. Buying a real estate for at least 250.000 USD, 500.000 USD capital investment or 500.000 USD bank deposit. The investment requirements are as follows:
- Real Estate Investment $250,000
- Bank Deposit $500,000
- Capital Investment $500,000
Turkish Citizenship By Property Investment
Turkish citizenship and Turkish passport can be obtained by investing only 250.000 USD in a real estate in Turkey. Portugal and Spain have similar golden visa schemes, however, the minimum property investment limit is around €550.000 in those countries. Cyprus is also one of the European countries offering citizenship based on property investment, and the minimum required investment is €3.000.000. On the other hand, minimum €250,000 investment is required to in real estate in Greece. As mentioned above, the minimum investment was 1.000.000 USD in the previous version of Turkish golden visa program in the past. However, the new implementation has changed the minimum property investment limit from 1.000.000 to 250.000 USD. In other words, the minimum investment amount has been decreased by %75. The Turkish Government has also reduced the minimum property investment from 1.000.000 USD to 250.000 USD.
Getting Turkish Passport by Investing Real Estate
A real estate must be bought after the date of 19 September 2018. Therefore, properties which were bought before 12 January 2017 do not qualify citizenship. The minimum price of real estate must be 1.000.000 USD for the properties that were bought between 12 January 2017 and 19 September 2018.
- The minimum total investment amount is $250.000.
- One or multiple properties can be purchased this amount.
- A property for investment can be purchased in USD or Turkish Lira.
- Buyer must declare that he/she will not sell the property for 3 years.
What kind of property can I buy to be eligible for citizenship program?
It does not matter. You can buy a house, villa, apartment flat, land, farm etc.
Can I sell the property within the 3 years period?
Yes, definitely you can. The declaration does not restrict your right to sell your property. However, in this case, your citizenship process or status will be reevaluated by immigration office.
How can I apply to Turkish golden visa program?
First of all, everyone, who is interested in Turkish citizenship programs for investors, should work with a registered lawyer not an agency. Because, only lawyers can represent you in legal processes of your visa and citizenship applications. Atamer Law Firm is specialized in immigration law and investor visa programs. If you are in Turkey, please contact us to schedule an appointment, then you will need to release a power of attorney in a notary, after that we can handle your application. If you are abroad, you can release a power of attorney in the nearest Turkish consulate, and if you wish we can purchase a property on behalf of you. We can also represent you during your visa and citizenship applications. Send us an email to get more information about Turkish golden visa programs, and our services.