Turkey to offer citizenship to foreigners who buy real estate for 1 million US-Dollars or more.
Real Estate in Turkey is expected to boost with the citizenship by investment, per decree that was published in the Official Gazette on 12.01.2017. Turkish citizenship will be given directly who buys at least 1 Million Dollars real estate in Turkey or have invested at least 2 Million Dollars.
Turkey will grant citizenship to foreigners who buy real estate in Turkey for a minimum of $1 million on the condition that they do not sell them for at least three years or who make an equity investment worth over $2 million or who prove that they have made a deposit of more than $3 million in a Turkish bank or kept that amount of money in the country’s debt instruments for a minimum of three years will be granted Turkish citizenship.
The decree also stipulated that foreigners who document their creation of a minimum of 100 jobs in the country will also be offered citizenship.
Per the amendment made on the Turkish Citizenship Law published in the Official Gazette on 12 January 2017;
- Buying real estate in Turkey worth 1 million dollars on the condition that they do not sell them for at least three years,
- Make an equity investment in Turkey worth over 2 million dollars,
- Opening a deposit account of at least 3 million dollars in banks operating in Turkey and keep this money in this bank for at least 3 years,
- Documenting a minimum of 100 jobs in a Turkish company owned by the foreign investor,
may obtain directly Turkish citizenship.
How to Get Turkish Citizenship?
Turkish Citizenship is obtained in two ways: "BY BIRTH" and "AFTERWARDS". By fulfilling certain conditions, foreigners who want to acquire "Afterward Citizenship". After these requirements are fulfilled, they can obtain Turkish citizenship by the decision of the Council of Ministers.
The most prominent of these conditions is; "5 years residence in Turkey by owning a property". The easiest way to get a residence permit is, to buy real estate in Turkey. Foreigners who buy real estate anywhere in Turkey and at any price, can get a residence permit.