House in Antalya

Turkey is strategically located and has a rich history, vibrant culture, beautiful architecture and amazing investment opportunities. If you are looking to obtain Turkish citizenship, the Turkish citizenship program through investment can be a suitable option for you. Launched in 2017, this investment program offers citizenship to individuals in exchange for investing in Turkish real estate. 

Due to cost reduction, foreign investors seeking Turkish citizenship generally go through the real estate investment route. The minimum eligible amount to buy a property in Turkey is $400,000 + fees, making this citizenship one of the most attractive citizenships in the world through investment programs.

Turkish citizenship by investment

Turkey's citizenship by investment program aims to attract foreign direct investment to strengthen the country's emerging economy and promote the country's real estate market. Since Turkey is a transcontinental country, foreign investors can access the booming markets of Europe and Asia by obtaining Turkish citizenship. For Turkish citizenship, individuals must invest at least $400,000 in real estate. The request takes about 120 days to process. When a person is a citizen of Turkey, he has access to free movement within the country and countries such as Hong Kong, Japan and Singapore.

 

Turkish citizenship by investment program - benefits

- People can enjoy high quality of life, wonderful climate and pleasant population

-With a Turkish passport, you can access visa-free or visa-on-arrival travel options in 110 destinations around the world. This includes travel to popular countries such as Japan, Hong Kong and Singapore among others

-The investment program also includes the applicant's family members

- Turkish citizens are eligible for an E-2 investor visa in the United States. The visa can be renewed for a period of five years

Exclusive access to the markets of Europe, West Asia and the Middle East

To obtain Turkish citizenship through the Turkish Golden Visa program, an applicant must meet one of the investment criteria listed below.

- Real estate investment with a minimum amount of 400,000 dollars in the country
- Minimum investment of $500,000
- Individuals must deposit at least 500,000 dollars or its equivalent in foreign currency or Turkish lira in a Turkish bank account.
- Receive government bonds worth $500,000 or equivalent in foreign currency or Turkish lira
-Invest $500,000 or its equivalent in foreign currency or Turkish lira in real estate investment or venture capital investment fund shares.
- Establishment of a company that hires at least 50 new employees

It should be noted that individuals can include their family members in the application for Turkish citizenship.

Eligibility criteria

The main applicant for Turkish citizenship must meet the following eligibility criteria.
- The applicant must be 18 years old or older
- The applicant must have a clean criminal record
- The applicant must have health insurance
- The applicant must meet the investment requirements
- The investment made in Turkey must continue for at least three years

Investment in Turkish real estate market

Due to the cost-effective investment opportunities, global investors prefer to choose the real estate route to obtain dual citizenship in a short period of time. Applicants can acquire real estate and even choose not to live in the property. In addition, applicants can invest in one property or several properties without having to comply with excessive rules and regulations of the Turkish authorities. To secure Turkish citizenship, applicants must secure investment properties in Turkey and hold them for at least three years. After the three-year period, one can sell the Turkish property.



Foreigners can buy land and property in Turkey in their own name, as long as the property is located in cities, not in villages, or rural areas or military zones. It should be said that there should be a municipality in the area where the property is located and the property should be located within its limits.

 

Investing in Turkish real estate - advantages

By buying a property in Turkey, a person gets many benefits in addition to obtaining Turkish citizenship.
- The real estate market is a relatively economical investment for foreign investors
- The possibility of legal residence in Turkey and obtaining Turkish citizenship
- Affordable property tax
- Access to an amazing lifestyle

If you are looking to invest in property in Turkey, you can consider investing in real estate in Cyprus. For more information on Turkish citizenship by investment property, you can check out our article: The Complete Guide to Cyprus Real Estate


Important Note: The Cyprus Citizenship by Investment program has officially closed on November 1, 2020. For this reason, investors can no longer obtain a Cyprus passport through investment.

Turkish citizenship by investment – application process

Choose your investment path - Based on your needs, determine the right investment option that matches your priorities.

Certificate of Eligibility – Regarding your investment, contact the relevant authorities in Turkey for confirmation and obtain the Certificate of Eligibility.

Turkish Bank Account - After receiving the certificate of eligibility, you will need to open a Turkish bank account where your money will be deposited.

Turkish residence permit - After your investment is approved by the official, you can apply for a Turkish residence permit.

Make your investment - Pay your investment and collect all the necessary documents to apply for citizenship.

Applying for Turkish citizenship - After your investment is approved, you can submit your application to the Provincial Census and Citizenship Department. It generally takes about four months for the request to be processed.

How to buy property in Turkey

Turkey offers plenty of cheap accommodation options for expats, so if you're dreaming of enjoying the Mediterranean lifestyle, you don't need to spend a lot of money. For international buyers, property in Turkey is very cheap. However, before buying a property in Turkey, you should pay attention to some points.

To get started, follow these steps to ensure your real estate investment transaction goes smoothly and safely:

Start your research: there are hundreds of properties for sale in Turkey, just like many real estate agents. Before you start looking for property in Turkey, you can find the right real estate agent to make things easier. For this, you can consult anyone you know who has already bought a property in Turkey and ask them to recommend some real estate agents. Or contact the representatives yourself. You should research every option available to you.

Build a great relationship with your realtor so they can get you the best deals.

The next step is to go to Turkey. You want to know about the area, its communities and surrounding amenities before you buy. You can also go on a Turkey property inspection tour to see what properties are available.

Negotiate the purchase price and terms, then reserve the property and lock in the price.

To save time, appoint a lawyer through a power of attorney and complete the acquisition.

Registration of Turkish Property Document (TAPU).

Bureaucracy and paperwork

According to Turkish law, some property transfers can be done in real estate registration offices. You may be asked to sign a title deed and a land deed, which you may receive after receiving your occupancy certificate. As obtaining a certificate of occupancy is time-consuming and complicated, you should speak to real estate professionals who specialize in arranging real estate for foreigners.

Visa and residency requirements

Buying a property does not directly entitle you to a work permit or residence permit in Turkey, unless the investment amount is $400,000 or more, which then qualifies you for Turkish citizenship through the investment program. However, in order to proceed with the property purchase, you must first obtain your foreigner's identification number from the TNP Foreigners Office.

Ownership document

The cost of obtaining a title deed, also known as a Turkish TAPU, is 4% of the property's value. It is a legal document that transfers ownership of property from one person to another.

Commission fee for real estate agents

The commission fee for a real estate agent is usually 4% of the property value. While the price is reasonable, you can negotiate it.

The best neighborhoods in Istanbul to buy property

Istanbul's visual appearance has changed significantly over the past two decades, expanding into lovely nearby neighborhoods, offering expats the joy of a city life without the hustle and bustle. Since Istanbul is a diverse metropolis, any working or retired expat moving to the country can explore the many areas of the city to discover a great place to invest in real estate and use it as a way to To acquire Turkish citizenship. The following areas in Istanbul should be considered for real estate investment:

Karakoy

This neighborhood, which is known as the "hipster" side of Istanbul, has many cafes and restaurants in its streets. Karakoy is an area that allows hundreds of people to enjoy daily life and live their alternative lifestyles, providing them with an integrated urban atmosphere that