where is Türkiye ?
Turkey is famous for the Blue Mosque, the New Mosque, the Hagia Sophia (now a mosque again), and the Topkapı Palace in Istanbul; the Bosporus Bridge, which connects Asia with Europe; the Galata Bridge in Istanbul spans the Golden Horn; the Grand Bazaar in Istanbul;
Döner kebab, İskender kebap, Baklava and Turkish coffee and tea; the Evil eye (nazar); Tulips, Turkish carpets; the Turkish bath (hammam); whirling dervishes (Sufi dance moves);
the beaches of Incekum, Ölüdeniz (Blue Lagoon), Kaputas, and Antalya; the amazing travertine terraces of Pamukkale; the cave houses of Cappadocia, Mount Ararat, the resting place of Noah’s Ark; Troy, the setting of the Trojan War; and the Temple of Artemis in Ephesus, one of the seven wonders of the world.
€699
Average price per 1 m²
of housing in Turkey
€400000
Minimum investment amount
to get citizenship
5—8%
Buyers’ related expenses,
of the transaction amount
Real estate investment in Turkey
Foreigners in Turkey can buy and sell housing and commercial real estate and rent it out with few restrictions. For example, Russian citizens are prohibited from buying property on the Black Sea coast.
Statistics confirm the liquidity of investments: residential property prices grow on average by 6.7% each quarter. Five years ago, an apartment of 100 m² cost approximately €20,000. Today it’s sold for €70,000.
How the residential property price index is growing in Turkey
Cost of a 3-bedroom apartment in Turkey
€500,000
Apartment by the sea in Alanya
€1.2 million
Apartment within a 10-minute drive from Hagia Sophia Mosque
€3 million
Penthouse in Istanbul,
with a view of the Bosphorus
Turkey residence permit or citizenship by real estate investment
Owners of properties worth at least $50,000 can get residence permits. In large cities, such as Istanbul, Antalya or Ankara, the minimum property value for a residence permit is higher — $75,000. The minimum property value requirement was introduced in May 2022.
A residence permit is issued for a year with the possibility of renewal every two years. To renew a residence permit, you must live in Turkey for at least 183 days a year. After 5 years of living with a residence permit, you can get Turkey citizenship by naturalisation.
The buyer of one or more properties for a total amount of $400,000 or more can obtain Turkey citizenship without a language test and the obligation to live in the country.
5 Ways to Get Turkish Citizenship are:
- Turkish Citizenship by Investment – Buying Property worth of 400.000$ and other 5 ways
- Company Registration in Turkey & Work Permit (Çalışma İzni) – 5 years
- Citizenship by Birth
- Citizenship by Marriage
- Citizenship by Buying Property in Turkey at any Value minimum (75,000$)– After 5 Years
Turkish Citizenship by investment 2023, What are the conditions to obtain Turkish citizenship by investment?
The minimum investment amount required to apply for Turkish citizenship by real estate investment increased from $250,000 to $400,000 on June 13, 2022. After this date, to be able to apply for citizenship by real estate investment, the value of the real estate(s) purchased must be at least $400,000.
According to the law, now it is guaranteed to obtain Turkish citizenship by marriage, birth, paternity and by making an investment in Turkey.
The Turkish citizenship by Investment Program (TCBI) launched in January 2017 caused accelerated growth in the real estate sector, attracting foreign investors from all over the world.
Turkish citizenship gives the chance to access both European and Asian markets to investors. Also, to acquire lifetime citizenship of a country that is in the process of full membership negotiations with the European Union.
Turkey allows foreign nationals to invest in different channels in the country and to obtain the right to citizenship.
Turkish Citizenship by Property Investment – Buying Real estate in Turkey worth a minimum of $400.000
The amount for Turkish citizenship by property investment was increased from 250,000$ to 400,000$ by the Decision of the President as of June 13, 2022. You can apply for citizenship with the properties you already purchased. The real estate value purchased between January 12, 2017, and September 18, 2018, must be at least $ 1 million. Therefore, property amounts under $ 1 million purchased before this date are not sufficient for citizenship applications.
You can obtain Turkish citizenship by property investment for yourself, your spouse and your children below 18 years with a commitment not to sell it back within 3 years. A Turkish passport is issued in 3 months.
Conditions:
- The property must be purchased in cash.
- The owner of the property your going to buy should be a Turkish citizen.
- The title deed should be ready.
- Has no problem in terms of debt.
- You purchase 2 or 3 properties, it is enough for all to be 400 thousand dollars in total.
There are 6 ways to obtain Turkish citizenship by investment:
- Turkish citizenship by investment 400.000 USD property
- Making a fixed capital of investment worth a minimum of $500.000
- Employing at least 50 people
- A minimum of 500 thousand Dollars (it may be equal to different currencies or Turkish Lira) worth of deposits in banks operating in Turkey should be admitted.
Condition: Deposit cannot be withdrawn from the bank for 3 years.
- A minimum amount of 500,000 USD (or equal to a different foreign currency or Turkish Lira) government debt should be purchased
Condition: Government debt securities must be kept for 3 years.
- A real estate investment fund share or venture capital investment fund share worth a minimum of 500 thousand Dollars should be purchased.
Condition: Participation shares must be kept for 3 years.
Documents required for Turkish citizenship by investment at the application stage are:
- (VAT-4) Form for Turkish citizenship by investment application. Other Citizenship Application Forms
- Population Registration – Birth Certificate (For all family members)
- Residence Certificate
- Marital Status Certificate (Showing that the person purchasing the real estate on behalf of the property is married, single, or divorced)
- Certificate of Death (If the applicant is a widow, a document regarding the death of a spouse)
- Health insurance
- 4 Biometric Photos (Taken on a white background)
- Passport
- Parental Consent Letter (For the child under the age of 18 who will receive Turkish citizenship of the applicant. Must be issued by a notary, overseas representative, or competent authorities of his / her country.
Note: Original and Notarized Turkish Translation of above Documents
10. Power of Attorney (For authorization of the lawyer)
11. Certificate of Conformity
12. Service Fee Receipt (Must be obtained from the Finance Cashier)
How to Apply for Turkish Citizenship?
3 Stages of Getting Turkish Citizenship by Property Investment are:
1. Obtaining the Certificate of Conformity
After the transfer of the Title deed took place; a certificate of conformity is being obtained from the General Directorate of Land Registry and Cadastre together with;
- Bank transfer receipts,
- Real estate valuation report for Turkish citizenship acquisition,
- Annotation of “cannot sell for 3 years” put into the title deed / Property Sales Commitment Contract.
2. Application for Turkish Residence Permit
To obtain a Turkey residence permit, you should apply for the Provincial Migration Management with the necessary documents.
The investor has the right to renew the residence permit until his / her citizenship process is completed.
3. Application for Turkish Citizenship
The application is finalized by applying for Turkish citizenship by investment to the General Directorate of Population and Citizenship Affairs together with the residence permit and all of the documents you get before this stage.
After the application, the competent authorities evaluate the application.
After the eligibility of the application for citizenship in Turkey is determined, it is signed by President Recep Tayyip Erdogan and the Turkish citizenship process is completed.
