TURKEY CITIZENSHIP BY INVESTMENT
About Türkiye
Türkiye is a major transcontinental country strategically positioned and bordered by three seas. A popular tourist destination, Türkiye’s location facilitates connectivity with key markets via excellent transport links. Although Ankara is its capital, the leading global city of Istanbul is Türkiye’s largest and is its main commercial and cultural center.
Country Information
Linking both the European and Asian markets, Türkiye is a melting pot of cultures, with frenzied markets, towering mosques, imperial residences, and a lively art and musical entertainment scene.
Population: 83.6 millionLanguages: Turkish, English
Economy: Developed, industrialized
Currency: Turkish Lira
An Overview of Türkiye
With the economic, cultural, and historic central city of Istanbul embracing Europe and Asia on the Bosphorus Strait, Türkiye is a transcontinental country that benefits significantly from its geostrategic location.
From breathtaking Mediterranean vistas to the eastern steppe, peppered with ancient ruins, Türkiye’s diverse landscape and wide range of activities draw visitors from across the globe each year. A former stop along the Silk Road, Türkiye is steeped in rich cultural history with the Romans, Byzantines, and Ottomans all having left their indelible marks, evident in the world-famous ruins and monuments.
As a democratic, constitutional republic, Türkiye has become increasingly integrated with the West through its membership of organizations such as the Council of Europe, NATO, the OECD, and the G20 major economies. It has also fostered close cultural, political, economic, and industrial relations, particularly with the Middle East and the Turkish states of Central Asia, through the Organization of the Islamic Conference and the Economic Cooperation Organization.
Türkiye began full membership negotiations with the EU in 2005, having been an associate member of the European Economic Community since 1963 and having reached a customs union agreement in 1995. The country’s currency is the Turkish lira, and the official language is Turkish.
Successful applicants can enjoy citizenship of a country that boasts a mild Mediterranean climate, beautiful scenery, and a high standard of living. They also gain access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East.
Citizenship by Investment
The Türkiye Citizenship by Investment Program allows investors to access both the European and Asian markets by making an investment into Türkiye’s economy.
Investment: Minimum contribution of USD 400,000
Key Benefit: Citizenship for your family, future generations, and visa-free access to over 110 destinations
Türkiye Citizenship by Investment Program Overview
The Türkiye Citizenship by Investment Program (previously named the Turkey Citizenship by Investment Program) was launched in January 2017 to attract foreign direct investment to and boost growth in the country’s real estate sector. The program allows applicants to choose from a number of different types of economic contributions to Turkish society, thereby developing the country’s economy.
With the city of Istanbul embracing Europe and Asia on the Bosphorus Strait, Türkiye is a transcontinental Eurasian country. Its location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance.
Benefits of the Türkiye Citizenship by Investment Program
- Visa-free or visa-on-arrival access to over 110 destinations including Hong Kong, Japan, and Singapore
- Citizenship of a country that enjoys a mild Mediterranean climate, beautiful scenery, and a high standard of living
- Full citizenship granted to the applicant and included family members
- Eligibility for an E-2 Investor Visa in the USA after being domiciled in Türkiye for three years, valid for a five-year renewable period
- Access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East
Requirements of Türkiye Citizenship by Investment
To qualify for citizenship, the main applicant should fulfil one of the following investment requirements:
1- Acquire at least USD 400,000 worth of real estate
2- Invest a minimum of USD 500,000 in fixed capital contributions
3- Deposit at least USD 500,000 into a Turkish bank account
4- Commit at least USD 500,000 into government bonds
5- Commit at least USD 500,000 into real estate investment fund share or venture capital investment fund share
6- Commit at least USD 500,000 into a private pension system for a minimum holding period of three years
7- Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services
The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.
Procedure for the Türkiye Citizenship by Investment Program
After applicants have chosen the qualifying investment option, a residence permit application shall be made on the family’s behalf. The main applicant is then required to open a bank account in Türkiye.
Once all application documents have been prepared (including applicable certifications and translations), the investment can be completed and the documents submitted to the government. Contributions must be made in Turkish lira, equivalent to the USD amount. Successful applicants are required to visit the country to submit biometrics for the residence application. Once citizenship documents are issued, the passport application can be submitted.
Please note that Turkish gift and inheritance taxes apply to worldwide assets held by Turkish citizens. We recommend that you seek appropriate professional advice in this regard.
Türkiye Citizenship by Investment Program Frequently Asked Questions
What is the Türkiye Citizenship by Investment Program?
The Türkiye Citizenship by Investment Program offers citizenship to individuals and their families through substantial investments in Türkiye.
What are the investment options available for the Türkiye Citizenship by Investment Program?
Investment options include acquiring real estate, investing in fixed capital contributions, depositing funds into a Turkish bank account, committing to government bonds, investing in a real estate or venture capital fund, contributing to a private pension system with a minimum holding period of three years, or creating jobs for at least 50 people as verified by the Ministry of Family, Labour and Social Services.
What are the benefits of obtaining Turkish citizenship through investment?
Benefits include visa-free travel to many countries, the right to live, work, and study in Türkiye, and access to a strategic location bridging Europe and Asia.
What is the minimum investment required for the Türkiye Citizenship by Investment Program?
The minimum investment starts at USD 400,000 for real estate purchases.
How long does it take to process an application for the Türkiye Citizenship by Investment Program?
Processing times for citizenship by investment applications may vary. Please contact us to find out more.
Can family members be included in the Türkiye Citizenship by Investment Program application?
Yes, the main applicant can include their spouse and dependent children in their application.
What are the residence requirements for the Türkiye Citizenship by Investment Program?
There are no specific residence requirements, but applicants must maintain their investment for a minimum of three years.
What documents are required for the Türkiye Citizenship by Investment Program application?
Required documents include a valid passport, proof of investment or contribution, a clean criminal record, and other supporting documents.
What is the process for applying to the Türkiye Citizenship by Investment Program?
Applicants must choose a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process.
Türkiye Real Estate Investment
Türkiye has a highly attractive real estate market that has been rapidly enhanced over the past 20 years by policies that prioritize the construction sector and multi-billion infrastructure investments.
Türkiye Real Estate
Everything you need to know about acquiring premium real estate in Türkiye and linked to the Türkiye Citizenship by Investment Program.
Holding Period of Real Estate: Minimum of three years
Minimum Real Estate Investment: USD 400,000
Type of Ownership: Full ownership
Rental Income Opportunity: 5%
Some real estates for sale
The Mansion
USD 43,000,000
Istanbul, Türkiye
Property Type: Villa
Bedrooms: 7
Total Area: 7682m²
Gölköy Villa
USD 3,100,000
Bodrum, Türkiye
Property Type: Villa
Bedrooms: 3
Total Area: 536m²
Fatih Apartment
USD 1,600,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms:
Total Area: m²
Orman Apartment
USD 1,425,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: m²
Bahçelievler Project
USD 525,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 120m²
Topkapi Project
USD 467,500
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 113m²
Ispartakule Project
USD 465,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: 194m²
Banuevler Ispartakule
USD 450,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: 174m²
City View Apartment
USD 410,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 3
Total Area: 69m²
Panorama Apartment
USD 400,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 90m²
The City Block
USD 388,304
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: 115m²
Ispartakule Apartment
USD 300,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 1
Total Area: m²
Concept Apartment
USD 200,000
Istanbul, Türkiye
Property Type: Apartment
Bedrooms: 2
Total Area: m²
If you would like to get more information about any of the real estates above or to see photos or to get information about rentals, you can contact us.
Türkiye Real Estate
Türkiye has a highly attractive real estate market that has been rapidly enhanced over the past 20 years by policies that prioritize the construction sector and multi-billion infrastructure investments. Compared to the global real estate market, which largely came to a halt in the second quarter of 2020 when most of the world shut down in response to the Covid-19 pandemic, the Turkish real estate market reached its peak due to plunging interest rates and booming demand. According to Turkstat, housing sales in Türkiye reached 1.49 million units, while sales to foreign nationals increased by 43.5% in the same period and hit a record-high 58,576 units.
Are there any restrictions on the acquisition of real estate in Türkiye by foreign buyers?
Foreign investors may acquire properties and restricted real rights of up to 30 h. (In Turkish law, real rights are rights that give direct control over movable or immovable property and that can be asserted by anyone). The total area of properties acquired by foreign nationals may not exceed 10% of the surface area of the property’s subject district. In addition, foreign buyers may not acquire properties in military forbidden zones, following the Military Forbidden Zones and Security Zones Law No. 2565.
How can immovable property in Türkiye be acquired?
There are two ways to acquire an immovable property in Türkiye. First, the buyer may entrust a power of attorney in Türkiye. Otherwise, they must obtain a Turkish tax number and open an account at a Turkish bank. The next step is signing the contract with the seller. The transfer of the title deed can be executed through the Directorate of Land Registry and Cadastre or online with Webtapu (webtapu.tkgm.gov.tr/), which is available in Arabic, English, French, and Russian.
What additional expenses will the real estate transaction incur?
Buyers are required to pay a 4% title deed fee, along with a circulation capital fee based on the property’s value. The value cannot be less than the value in the appraisal report, which shows the actual value of the property. The revolving capital fee is determined as compensation for the services provided during title deed transactions and must be paid during processes such as the sale or transfer of the property. It typically ranges from approximately 10,000 to 15,000 Turkish Lira and is subject to change.
Does the applicant need to open a bank account in order to purchase property, and if so, what is the procedure?
No, the buyer is allowed to transfer the purchase price directly from abroad without opening a bank account.
What kind of returns can be expected from property investment in Türkiye?
Properties in major city centers offer yields of around 9%, while those in coastal areas can deliver yields ranging from 15% to an impressive 20%.
How is rental income taxed?
If a buyer rents their property annually to an individual or a company, they would have to file a tax return for their rental income for the previous calendar year to the nearest tax office between 1 and 25 March. The tax is paid in equal installments twice a year — in March and July. The minimum rental income, which is not taxed, is TRY 9,500 for housing and TRY 70,000 for commercial properties per year.
What other immovable property-related taxes and charges are imposed in Türkiye?
Local property tax is payable in two equal installments, the first in May and the second in November. The buyer is required to contact the local municipality for further information and payment options. The amount to be paid for that year is calculated by using the rates below over the minimum fair values of the real estate within the relevant year.
For real estate located outside of a metropolitan municipality area:
Residences: 0.1%
Other buildings: 0.2%
Land: 0.1%
Farming land: 0%
Vacant land (but allocated for construction purposes): 0.3%
For real estate located inside of a metropolitan municipality area:
Residences: 0.2%
Other buildings: 0.4%
Land: 0.2%
Vacant land (but allocated for construction purposes): 0.6%
Popular cities to settle in Türkiye
Istanbul, Muğla (Bodrum as a district), Antalya, İzmir, Ankara, Bursa, etc.
Contact us
As a global player in residence and citizenship planning, we are here to advise you and your family. You can contact us for a free consultation.