Turkey Citizenship by Investment Program
The Turkey Citizenship by investment program was launched in the year 2012. The program was established
to encourage and attract foreign direct investment in the Turkish economy and to stimulate the real
estate market. The investment scheme invites applicants who need to qualify by certain requirements to
invest in the nation in exchange for lifelong citizenship rights.
With the country being nestled between Europe and Asia – and ultimately of significant geostrategic
importance for business; the Turkish passport provides incredible benefits to investors. One of them is
visa-free access on arrival to 126 destinations worldwide, including Hong Kong, Japan and Singapore.
To qualify for Turkish citizenship, you as an investor must fulfill one of the program's investment
requirements, i.e., purchase real estate worth at least $400,000 or invest the same in land acquisition.
You can also invest in multiple properties if you wish and still qualify for Turkey citizenship by
investment scheme.
Benefits of becoming a Turkey Citizen by Investment
- Turkish citizenship brings many benefits both for investors and their families. From their social
life to their financial opportunities to easy travel, you get them all. The country also guarantees
the welfare and the future of investors and their families with free healthcare and education
services.
- Approved citizenship program within 3 – 4 months from the day of applying, meaning investors can
obtain citizenship in practically no time.
- You don't have to attend any formal interviews to secure your citizenship through investments.
- You don't need to visit Turkey before, during or after your application.
- There are no residency requirements, interviews, or language tests needed for you to get your
application approved and completed.
- Investors can enjoy a legal resident permit via the real estate route if that's what they choose.
- You can buy real estate as residential property or as a prospective asset with the possibility of a
high return on investment.
- Foreign investors can sell them acquired properties after a 3-year period of restriction.
- Investors can include their spouse, partners, children or differently abled member of their family
in their application. They will have the same Turkish citizenship benefits as you as an investor.
- As an investor, you have easier access to the E2 visa, which allows you the right to enter and work
in the US based on the investment you make.
- You have the option of holding dual citizenship from your native country and Turkey.
Requirement for becoming a Turkey Citizen by Investment
You must have at least $ 400,000 in investment funds to apply for the Turkey Citizenship by Investment
Program.
- Be at least 18 years old.
- Hold a clean criminal record.
- Have adequate health insurance.
- Have never overstayed illegally in Turkey.
- Not be from a black-listed nationality which as Armenia, Cuba, Nigeria, North Korea and Syria.
- Provide the documents requested by the government institutions should be prepared in accordance with
the legislation.
- After the application to The General Directorate of Land Registry and Cadastre, real estate
appraisers check if the purchased property is worth $400,000 or not.
Minimum Investment Amount
To qualify for a Turkey Citizenship by investment (Golden Visa), you will need to invest in properties
worth $400,000 or above.
Processing Time
To gain Turkish citizenship, the processing time for your application is within 60 days, after which you
can enjoy all the advantages that come along with it.
Real Estate in Turkey
Following the structural reforms made by the Turkish government to permit citizens of 183 countries to buy real estate inside Turkey in order to attract more international buyers, the Turkish real estate sector started to see a large surge in real estate market activity in 2012. This was reflected in the definition of the real estate industry itself, which has opened up a lot of opportunities for investment in Turkey!
Following the implementation of these regulations, foreign investors have flocked to Turkey to buy real estate, withholding a sizable portion of their acquisitions and tripling sales between 2012 and 2015.
The Turkish economy has seen an increase in its rank that made it in 18th place amongst the world's economies with a GDP exceeding $900 billion, and the real estate sector represents one-fifth of the total GDP.
The quality of the materials used and the level of luxury in the furnishings, to name a few, are significant elements in determining the success of real estate investments and, consequently, the price of the property.
However, there is no doubt that objective factors that go beyond the real estate industry itself also have an impact on the Turkish real estate market. By infrastructure, we refer to the nation's comprehensive system of roads, bridges, water resources, sewage, electrical networks, and communications.
The world is aware of Turkey's accomplishments in this area, including the construction of the Istanbul Canal Project and the New Airport in Istanbul.
Are there any restrictions on the acquisition of real estate in the country by foreign buyers?
There are certain restrictions on foreign buyers looking to invest in Real Estate in Turkey.
- The total area of property purchased in all of Turkey should not exceed 30 hectares.
- You cannot purchase properties that fall within a security or military zone.
What additional expenses will the Real Estate Transaction Incur?
As a foreign investor, you will need to pay for additional expenses such as title deed conveyance taxes and fees, title deed office circulating capital, notary and translation fees, DASK insurance, and utility connection expenses.
What kind of rental yield can be expected from Property Investment in the Turkey
As foreign investors, you can purchase residential or commercial property and receive a guaranteed annual return of up to 10% of the property's value. The profit return is generated by the property's rental within the conditions of the purchase contracts.
