Can I get Turkish citizenship by buying a house?
Published at: 21/09/2021 11:05 am
Almost ten thousand investors became Turkish citizens by investing $250,000 in residential real estate since 2017.
The Turkey Citizenship by Investment Program started in 2017. Interestingly, the government halved the original qualifying amounts of investment shortly after the introduction of the program. Logically, the Turkish passport for investment scheme became popular quickly.
As of the summer of 2020, the total number of successful applicants for Turkish citizenship through investment was 9,011 and 25,411 dependents.
The excellently planned Turkish passport scheme offers various options, but the most popular choice is always purchasing real estate. You can read here all the details of the Turkey Citizenship by Investment Program!
The Turkish real estate market of investment for citizenship
It is good to notice that the real estate prices have increased by 36% since the launch of the citizenship by investment program.
Costs climbed fastest in Anatolia with 57% on an annual basis. In Diyarbakir, Gaziantep and Izmir, the buyer has to pay 39% more. Even in Bursa, the values increased by 24%.
One of the reasons behind the booming real estate market is the growing attention of foreign investors looking for Turkish passports.
What are the advantages of Turkish citizenship by investment program?
- The holders of Turkish passports can enter visa-free or pick up the visa upon arrival in 116 countries (including Thailand, Brazil, Japan or Paraguay).
- The investor obtains citizenship together with the family members.
- The investment is direct and pure, without extra government fees or contributions. The not complex process of proving the origin of funds eases the requirements for several Asian and African investors.
- Turkey introduced several special tax rates in chosen commercial and trade zones.
- Interestingly, several investors become citizens of Turkey because the Turkish passport qualifies them for the US E-2 entrepreneur visa. Becoming a resident in the US through this structure is still cheaper and faster than other official programs of the United States.
How can you become a citizen of Turkey through investment?
Discus Holdings local representatives can help you choose suitable real estate investments and obtain travel documents. Set up a consultation here with our experts!