Turkey citizenship 2024: how to get Turkish passport through investment

The best way to obtain the Turkish passport is to utilize the country's investment program. For that one would need to purchase real estate, government bonds or shares in the investment fund for the total cost of $400,000 and above. Obtaining Turkish citizenship takes from 6 to 8 months. After 3 years of owning those assets they can be sold, the funds spent on their purchase returned.

Obtaining Turkish citizenship: program features

Turkey launched the program for providing passports through investment in 2017, and since then it has attracted many applicants. The general idea is for the foreign citizens to obtain citizenship through investing into real estate, business or government bonds. Purchase of real estate remains the most popular way as it provides an opportunity not only to get citizenship but to have ownership of the assets in one of the best countries to live and conduct business in.

Which real estate can be purchased by the participants of the program?

Participants of the program can purchase various types of real estate: residential homes, apartments, villas, commercial properties and land parcels. The main requirement is for the total cost of the real estate to be at least $400,000. Other conditions should also be met:

• only the properties that were not previously purchased by other participants of the investment program;
• investing into multiple properties is only provided the investor holds a TAPU (property title deed) for each property;
• it is not allowed to have a share in a project;
• purchase from a legal entity is prohibited is more than half of the shares are owned by a foreigner;
• no more than 30 hectares of land can be purchased;
• it’s prohibited to buy real estate in close proximity to sites of high national importance.

Which costs the investor can expect when buying real estate in Turkey?

When purchasing real estate in Turkey, the investors must be prepared for certain additional costs:

• transfer tax: normally is 4% of the real estate price;
• state fees: various fees for registration and appropriate paperwork;
• VAT: in case of purchasing real estate in a newly constructed building (1-18%);
• insurance: for the unforeseen circumstances;
• real estate agency commission: in case the investor turns to the real estate agent to find their future property.

Who can get Turkish citizenship through investment?

Applicants to the program must adhere to the following requirements:

• age: the investors must have reached the age of 18;
• no record of conviction: the participant of the program must provide the police clearance certificate to prove it;
• financial solvency: proof of having access to enough funds for purchasing the real estate and all associated costs;
• good health: lack of severe diseases.

Advantages of Turkish citizenship through investment

Obtaining Turkish citizenship provides a wide variety of opportunities:

• Visa-free access to over 120 countries all over the world;
• Residence and labor rights in Turkey without additional permits;
• Access to high-quality education;
• Access to state healthcare system;
• Ability to rent out the purchased real estate;
• Option to add family members to the citizenship application;
• Option to keep the first citizenship.

Other ways to get Turkish citizenship through investments

Aside from buying real estate, other options for obtaining Turkish passport through investment:

1. Investing over $500,000 into local business;
2. Purchase of the government bonds for the same sum;
3. Creating at least 50 job opportunities for the citizens of Turkey.
4. Making a deposit of at least $500,000 in a Turkish bank.

Reasons for denial of second citizenship in Turkey

Despite how attractive and welcoming the program is, there are cases when dual citizenship is denied. The most common grounds for denial are:

1. Lacking financial solvency: in case the investor can’t prove they have the required funds.
2. Issue with paperwork: lack of the required documents or mistakes in the filled-in papers.
3. Conviction: if the applicant has a previous conviction or a current criminal case against them.
4. Non-compliance with the terms of the program: if the real estate doesn’t fall under the requirements of the program.

How to obtain Turkish citizenship?

Stablegrowz team is eager to assist you with getting Turking citizenship through investment in real estate. We provide the full spectrum of services: from selection of real estate to transaction support and legal paperwork. Our team of experts is ready to answer any of your questions and make the entire process easy, pleasant and convenient.

Contacts

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