Turkey's citizenship by investment programme has gained significant traction among investors worldwide. For a minimum investment of £317,000 in the Turkish economy, foreign nationals can secure a second passport. This scheme offers multiple pathways to citizenship, with real estate purchases being the most popular choice.
What is the Turkish Citizenship by Investment Programme?
The Turkish Citizenship by Investment Programme allows foreign investors to obtain Turkish citizenship through various investment options. It was launched in 2017 to boost foreign investment and stimulate economic growth.
The programme has since gone through multiple changes. In 2018, the investment threshold was lowered from $1 million to $250,000 for real estate purchases. It was raised in 2022 to the current $400,000, thanks to the programme's success and Turkey's economic strategy.
The Benefits: Why Apply for Turkish Citizenship?
Freedom to Travel
Turkish passport holders enjoy visa-free or visa-on-arrival access to over 110 countries. This includes popular destinations in Europe, Asia, Africa, and South America.
Gateway to Europe
While Turkey is not an EU member, its citizens can apply for a five-year Schengen visa. This allows stays of up to 90 days within any 180-day period in the Schengen Area.
US Business Opportunities
Turkish citizens are eligible for the E-2 Treaty Investor Visa. This allows them to live and work in the United States if they make a substantial investment in a US business.
Economic Prospects
Turkey's strategic location between Europe and Asia offers unique business opportunities. The country's growing economy and young population present attractive investment prospects.
Fast-Track Process
The citizenship application process is relatively quick, often completed within 3-6 months.
Who Can Obtain Turkish Citizenship by Investment?
The programme is open to foreign investors who meet the following criteria:
Aged 18 or over
Clean criminal record
Good health
Ability to prove the legitimacy of investment funds
Importantly, the investor's spouse and children under 18 can also obtain citizenship under the same application.
Investment Options for Turkish Citizenship
Investors can choose from five main options:
Real Estate Purchase: Minimum investment of £317,000 ($400,000)
Capital Investment: £396,000 ($500,000) in a Turkish company
Bank Deposit: £396,000 ($500,000) in a Turkish bank
Government Bonds: £396,000 ($500,000) in Turkish government bonds
Investment Fund: £396,000 ($500,000) in a Turkish investment fund
Real estate remains the most popular choice, accounting for over 90% of applications.
Turkish property prices have seen substantial growth, with annual increases of 15-25% in recent years.
Wrapping Up
Turkey's Citizenship by Investment Programme offers a attractive route to a second passport. However, as with any major financial decision, it's important to seek professional advice. That’s where experts at International Wealth Ventures come in.