Turkey’s citizenship by investment program, launched in 2016 to attract foreign investment, underwent changes, reducing the entry cost from $1 million to $250,000 in 2019. With a monthly average of $250 million from foreign investors, the minimum investment has now been raised to $400,000 due to growing demand.
Benefits include the right to live, work, and study in Turkey, quick citizenship acquisition in less than four months with a $400,000 real estate investment, family reunification, easy access to Schengen and E2 visas, dual citizenship, and visa-free travel to 77 countries.
Eligibility requires being at least 18 years old, having a clean criminal record, paying taxes and associated costs, and providing required documents.
Investment routes encompass real estate acquisition, job creation, capital transfer, and various investment options. The program now accepts only a single property totaling $400,000.
The steps for acquiring Turkish citizenship through real estate investment include obtaining a Turkish Tax ID, identifying the property, collecting necessary documents, obtaining residence permits, and submitting paperwork to the Provincial Directorate of Census and Citizenship. Passports are typically issued within three to four months.
Turkey also allows citizenship through marriage, birth, employment, naturalization, and for special merit. Dual citizenship is permitted.
The Turkish passport offers visa-free travel to around 110 countries. Alternatives to Turkey’s program include citizenship programs in Portugal, Spain, Greece, and Malta.