The Turkish government has recently increased the minimum investment amount required to obtain citizenship by investment. This significant change aims to attract serious investors while aligning with the country’s evolving economic goals. The updated regulations provide a pathway for foreign nationals seeking to acquire Turkish citizenship by purchasing real estate or making other qualified investments.
New Investment Threshold for Citizenship
The Ministry of Interior has officially announced that foreign nationals can now apply for Turkish citizenship by purchasing property worth 400 thousand US dollars (equivalent to approximately 382 thousand Euros). This marks a considerable increase from the previous threshold of 250 thousand US dollars (around 240 thousand Euros).
Historical Changes in Investment Amount
To understand the magnitude of this change, it is essential to look back at recent adjustments:
- December 2018: The investment requirement was raised from 200 thousand US dollars (approximately 191 thousand Euros) to 250 thousand US dollars (around 239 thousand Euros).
- 2023 Update: The threshold was further increased to 400 thousand US dollars, reflecting Turkey’s efforts to enhance the value and credibility of its citizenship by investment program.
Requirements for Citizenship by Investment
To qualify for Turkish citizenship through real estate investment, applicants must meet specific criteria:
- Property Value: The property purchase must be worth at least 400 thousand US dollars.
- Property Registration: The property must be registered with the Turkish land registry.
- Ownership Duration: Investors must commit to keeping the purchased property for at least three years.
- Financial Independence: Applicants need to provide evidence of financial independence during their stay in Turkey.
- Marriage Registration (If Applicable): If applying as a family, marriage certificates and other legal documents must be translated and notarized.
The investment amount is not limited to real estate purchases. Investors can also explore alternative qualifying options such as:
- Fixed Deposit: Depositing at least 500 thousand US dollars in a Turkish bank.
- Government Bonds: Purchasing government bonds worth 500 thousand US dollars.
- Venture Capital Investments: Engaging in eligible investment funds.
New amount of Turkish citizenship – increased amount of Turkish citizenship
Key Benefits of Turkish Citizenship by Investment
- Visa-Free Travel: Turkish citizens enjoy visa-free or visa-on-arrival access to more than 110 countries.
- Dual Citizenship: Turkey allows dual citizenship, enabling investors to retain their original nationality.
- Fast Processing: Citizenship applications can be processed within six to eight months.
- Family Inclusion: Spouses and children under 18 can also obtain citizenship under the same application.
Application Process
The process for obtaining Turkish citizenship by investment involves several steps:
- Property Search and Purchase: Find and purchase qualifying property in Turkey.
- Legal Documentation: Obtain all necessary legal documents, including title deeds and valuation reports.
- Application Submission: Submit the application to the Ministry of Interior along with supporting documents.
- Review and Approval: Authorities review the application and conduct background checks.
- Citizenship Approval: Receive the citizenship certificate and Turkish passport.
Conclusion
The recent increase in the investment threshold underscores Turkey’s commitment to attracting high-value investors. While the new requirement of 400 thousand US dollars may seem substantial, the program continues to offer competitive advantages compared to similar schemes in other countries.
If you are considering applying for Turkish citizenship by investment, our team at Evim Istanbul is here to guide you through the process, from property selection to citizenship application. Contact us today to explore your options and take the first step toward becoming a Turkish citizen.
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