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Feb 5, 2023

Turkish Citizenship Program for Foreigners in 2022

There have been several changes to the decisions related to obtaining Turkish citizenship through real estate investment, since the start of the investment program in exchange for Turkish citizenship in 2017 AD, until today in September 2022 AD, and the first months of this year also witnessed several new Turkish decisions related to obtaining citizenship through investment. By raising the value of the property that grants Turkish citizenship, from $250,000 to $400,000.

What option do investors often choose in order to obtain Turkish citizenship?

Investors obtain Turkish citizenship by investing $400,000 or more in the country’s economy, and the state government offers program participants six investment options:

Buying a property starts at $400,000. Opening a deposit in a Turkish bank starts at $500,000. Buying securities starting from $500,000 Buying government bonds starting from $500,000. Opening a project with a capital of $500,000 or creating 50 workplaces. Buying shares of investment funds starting from $500,000.

Investments under the citizenship program are repayable after three years, the investor can sell the purchased securities or real estate or close the deposit.

The most popular option is to buy real estate, as Turkish real estate prices rise at a rate of 5-20% annually, depending on the region. Since the beginning of the Corona virus pandemic, prices have increased by 15-30%, according to the Realtors Chamber.

Prices for one-bedroom apartments range from $150,000, and prices for multi-bedroom villas start from $500,000.

To meet investment requirements, the investor can purchase for $400,000, or several cheap apartments, but the period of ownership between them does not exceed two months.

What will happen to the properties that were purchased and are being purchased in order to obtain Turkish citizenship at a value of $250,000?

As long as the date of the purchase process and the extraction of the necessary papers to be included in the application file for obtaining Turkish citizenship, through real estate ownership, was before the date of publication of the new amendment in the Official Gazette, it applies to the law, meaning that Turkish citizenship will be granted at the previous value, which is 250 thousand dollars.


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