INVEST IN TURKEY
4 Good reasons to invest in a property in Turkey
New Turkish property for citizenship law
In a bid to boost foreign investment and help bring the lira back in check, a US $250,000 investment in Turkish property for three years can now secure Turkish citizenship. Previously only those having spent US $1 million were entitled to apply, now the sum, cut by three-quarters, is a manageable amount. Officials expect this move to double property sales in Turkey and draw money into the country that would otherwise have been invested elsewhere. The scheme is working. Sales of Turkish property to foreigners is well on the rise and Turkish real estate agents are receiving many more enquiries and enjoying more sales as a result.
Buying a Turkish property is a simple procedure
Turkey has made many amendments to purchase laws and legislation over recent years to help lure in investors. It is now quicker and easier than ever before to purchase a property in Turkey. Changes to the military clearance procedure mean that in many cases apartments and villas in Turkey can be bought in just 24 hours, VAT discounts for foreign national investors are also helping boost purchases.
Strong rental demands
Rental demand in Istanbul and along the coast is booming. The exchange rate has fuelled the highly profitable short-term tourist market and housing shortages in the cities make for a constant long-term requirement. Although strict rental procedures came into play that initially put some investors off purchasing buy to lets, every city and town now has management companies that take the hassle out of new rules and make sure properties are occupied and legalities met. The potential profits have lured investors in and many are now enjoying the benefits of extremely healthy returns.
Affordable luxury life style
Life in Turkey is easy for foreigners. The weak lira means daily living costs are a fraction of that in the UK, the USA, Russia and much of Europe. Utilities, groceries, eating out and getting about is all remarkably cheap. This has led to expat communities springing up in most popular areas, foreigners now choosing Turkey over the likes of costly Spain and Portugal. Affordability mixed with glorious weather, breath-taking scenery and a healthy dose of Turkish hospitality ensures lifestyle investors are onto a winning combination. In Turkey, not only is property affordable, but pay checks and pensions stretch further. Why invest in Turkey? Because it simply makes sense.
Getting citizenship in Turkey by purchasing a property is easy
Buy a property for $250.000 and become a Turkish citizen with your family
Turkish Government introduced a citizenship programme to promote foreign investment in 2017. In September 2018, the investment thresholds were substantially lowered by the government, making it one of the most attractive citizenship programmes in the world
A foreigner who acquires a property worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years, as attested by the Ministry of Environment and Urbanization, may be eligible for Turkish citizenship
4 Steps you need to Take to become a Turkish citizenship by Property Investment
We open an account for you in a Turkish Bank and transfer your funds to this account
Buy a property at minimum 250,000 USD
Apply and receive your Turkish residence permit as all applicants are required to hold a valid residence permit at the time of citizenship application. Meanwhile, you can continue to live abroad for as long as you wish
APPLY FOR CITIZENSHIP
After your residence permit is granted, you can immediately apply for citizenship. No interview or language test is requird. It would take our legal team to apply and obtain your and your beloved family citizenship documents as well as your passports on your behalf
KEY BENEFITS OF INVESTMENT
BECOME CITIZEN WITH YOUR FAMILY
Your children under 18 years old and your spouse have the right to acquire citizenship with you
You are not required to declare your assets or income that you currently have in other countries
You can change your name and family name at the point of application and in other words have a different Identity from your original nationality
NO NEED TO BE A PERMANENT RESIDENT
As soon as you get the residence permit, you can continue to live abroad. You don’t have to live for a certain period of time in Turkey
REPATRIATE YOUR INVESTMENT
You can cash out your investment and repatriate the funds along with its proceeds (i.e. rental income, interest etc.) free of exchange control restrictions after you holding your investment for 3 years.
In case you would like to purchase a property in Turkey and become a Turkish citizen, please contact us
TURKISH PASSPORT VISA FREE COUNTRIES ARE LISTED BELOW
If you are traveling to Turkey, depending on your passport, it is possible to enter the country without applying for a visa. Turkey grants visa-free access to passport holders of certain countries.
Visa Not Required
- Antigua and Barbuda
- Bosnia and Herzegovina
- Costa Rica
- Dominican Republic
- El Salvador
- Hong Kong
- South Korea
- Russian Federation
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Sao Tome and Principe
- South Africa
- Trinidad and Tobago
Visa On Arrival
- Cape Verde
- Marshall Islands
- Cote d’Ivoire
- Sri Lanka
frequently asked questions
Do I need to come to Turkey for the citizenship by investment application ?
Both the property purchase and the citizenship application can be made without the requirement of coming to Turkey. In that case the applicant and if requested the spouse should give us a power of attorney to follow up the process on their behalf. Also, the required documents should be given and such documents should be at first attested by the relevant authorities of the applicant’s country and attested by Turkish consulate. At the phase of passport collection, the applicant may either come to Turkey for fingerprint or can do it at Turkish consulate.
Which Documents Do I need for the Turkish citizenship application by investment?
The only documents required from the country of origin of the applicant is birth certificate and marriage certificate. If the applicant is single marital status certificate All the other documents are can be generated here in Turkey by us. However, those two documents need to be provided by the applicant. Those two documents are required to be attested at first by the relevant authority of the country of origin and secondly by Turkish consulate. Additionally in order to follow up the process on clients behalf we need a power of attorney from the applicant and the spouse. Because the documents are the important part of the process please consult us when preparing the documents.
How can I get benefit from my investments for Turkish Citizenship application ?
If you purchase a property with the value of 250.000 USD you cannot sell the property for 3 years. However, you are free to receive rental income and the rental income is quite good in Turkey. Similarly if you deposit 500.000 USD to the bank for Turkish citizenship, you cannot withdraw this money for three years however you can get interest from the deposited amount and interest rates are very high in Turkey.
How Can I be a Turkish Citizen by Investment?
After the new law published in July 2018, Turkish citizenship by investment became easier. Basically, there are 6 methods.
However, two of them are more attractive , first one purchasing a two hundred and fifty thousand USD worth property and the second one is five hundred thousand USD or equivalent bank deposit. So far majority of the applicants followed these two methods, because of the high interest rates in Turkey and the high rental incomes from properties.
Can my family members be a Turkish citizen through my application ?
Yes, the spouse, which means wife or husband of the applicants and the children below 18 years old can get citizenship through the application of the main applicant. However, parents such as father and mother and grandparents cannot be added to the application.
There is no limit for the number of the children to be added. However, for the wife, under Turkish law only single marriage is possible. So if the applicant has more than one wife, only one of them can be added to the application. The other wife may alternatively get resident permit.