Turkey citizenship by investment: who is eligible and how to get it

1. It’s possible to obtain a passport by investment. By investing $400,000+, in real estate, bank deposits, or other investment options specified by the Turkish government, investors can become citizens within 6 to 8 months.

2. Travel without visas. Turkish citizens travel without visas to 120+ countries, among them are Japan, Hong Kong and Singapore. Investors with a Turkey passport can also get a C‑2 Schengen visa for 5 years and travel to the Schengen Area.

3. Opportunity to apply for an E‑2 investor visa to the USA and move to the country with the whole family. Turkey and the United States have signed an agreement on the issuance of this type of visa.

The E‑2 visa is nonimmigrant, meaning its holder cannot get a green card and apply for citizenship. It is valid for five years and can then be renewed for another two years.

4. Low requirements for becoming a Turkish citizen. Investors are not required to renounce their current citizenship or take language or national history exams. Moreover, the investment program does not require applicants to live in Turkey to obtain or maintain citizenship.

How to obtain Turkey citizenship by investment

5. Access to quality healthcare. Turkish citizenship grants access to comprehensive healthcare services, with complete medical assistance for citizens and their families, including free emergency care regardless of insurance status.

About 80% of the Turkish citizens' expenses on healthcare are covered by Universal Health Insurance. The prices for Turkish healthcare are lower than in the EU or the USA.

6. Social guarantees. A Turkish passport allows the holder and their family to live, work, and study in Turkey, offering free education and university reimbursement plans, along with pension programs. There are also no restrictions on the inheritance of real estate and assets.

7. Affordable high-quality life. Compared to many European countries, the cost of living in Turkey is lower, making it an attractive place for those seeking a high-quality life at a more affordable cost.

In Turkey, estimated monthly costs for a family of four are approximately $1,838 without rent, while a single person’s estimated monthly costs are around $515​​. This affordability extends across various aspects of living, from groceries and dining out to transportation and utilities.

Comparatively, consumer prices in Turkey are substantially lower than in the United Kingdom, with consumer prices, including rent, being 51% lower. Restaurant prices, groceries, and rent are significantly cheaper in Turkey by 59%, 45,5%, and 60% respectively.

Investor. The Turkish nationality requirements for the main applicant are:

• older than 18;

• no criminal records;

• compliance with Turkish immigration laws;

• no serious illnesses;

• proof of legal income.

Citizens of Armenia, Cuba, Nigeria, North Korea, and Cyprus cannot participate in the program.

Investor’s family members. Investors have the opportunity to include their spouse and children under 18 to the citizenship application.

Financially independent adult children are not covered by the family application. They can, however, apply independently as main applicants, provided they meet the investment requirements.

The applicant can choose any of the five investment options. Investments in Turkey citizenship are returnable. Three years after obtaining citizenship, the investor can sell the purchased securities or real estate or close the deposit.

1. Purchase of real estate worth at least $400,000. It is the most popular investment option. Applicants can buy any property: an apartment, a house, commercial or industrial premises.

Since December of 2023, you cannot get citizenship in Turkey by purchasing undeveloped land. The new regulations specify that the investment in real estate must now include land with established condominiums or buildings or an issued building permit.

Buying a single property isn’t a requirement; instead, one can purchase several apartments for a total cost of more than $400,000.

However, a property can be used for participation in the program only once. An investor who obtained citizenship in Turkey by purchasing real estate cannot resell that property to another applicant for a passport by investment.

2. Deposit in a Turkish bank of at least $500,000. Investors can save money in any currency accepted by the Turkish bank and withdraw funds from the account three years later.

3. Purchase of government bonds in the amount of $500,000 with an obligation to preserve assets for three years.

4. Purchase of shares of investment funds for $500,000, specialising in real estate or venture capital investments, with an obligation to preserve assets for three years.

5. Open a business with a capital of $500,000 or create at least 50 jobs. After three years, the investor can sell their share in the business.

The most popular option to obtain Turkish investment citizenship is to buy a property. Unlike some other countries’ citizenship by investment programs, foreigners do not need to obtain permits to buy real estate.

There are many real estate properties in Turkey for every taste: inexpensive apartments, apartments in modern residential complexes with their own infrastructure, penthouses, mansions, villas by the sea, commercial premises. Most often, investors buy housing in Istanbul, Antalya, and Ankara.

On the Turkish real estate market, the average cost of an apartment located in the city centre is $1,848 per square metre and $1,108 outside of the city centre.

The cost of a one-room apartment in a provincial city averages $30,000—50,000, and of villas with several bedrooms — $100,000+.

For $400,000, an investor can buy a choice of:

• several inexpensive apartments in Kemer;

• a two-room apartment in Istanbul with an area of 80 m²;

• three-room apartment in Antalya with an area of 170 m²;

• villa by the sea in Alanya with an area of 200 m².

Purchased Turkish real estate can be a profitable investment. As of December 2023, the prices for property in Turkey have increased by 84%, compared to December of 2022.

The Turkish housing market is quite dynamic, with properties often being sold within a few months, indicating a relatively high rate of liquidity in this sector.

The demand for housing amid Turkey’s economic difficulties is largely supported by foreigners. The devaluation of the Turkish lira plays into their hands: there are many properties on the market at attractive prices.

Examples of properties for purchase in Turkey

Turkey, Istanbul

$812,000 — $1,777,000

Modern and stylish apartments in European part of Istanbul

78 m² — 179 m²

1—3

1—2

Turkey, Istanbul

$890,000 — $8,890,000

Serviced apartments in a unique residential project in Istanbul

89 m² — 638 m²

1—5

1—5

Turkey, Istanbul

$2,000,000 — $4,000,000

Luxury apartment with Istanbul view

104 m² — 240 m²

2—4

1—3

In addition to investing in the Turkish economy, there are several other ways to obtain citizenship.

1. Birth or descent. This path is suitable for those who have at least one parent who is a Turkish citizen or for those who have Turkish ancestry.

2. Marriage. Citizenship application becomes available after three years of marriage to a Turkish citizen.

3. Employment, after five years of work in Turkey under a contract.

4. Turkey citizenship by naturalisation is available after five years of living in Turkey. During this time, applicants cannot leave the country for a total of more than six months.

To apply, the foreigner proves proficiency in the Turkish language, having a job or a sufficient level of income.

The easiest way to get an initial tourist residence permit is to buy any property. Another way is to get a permanent residence permit by purchasing real estate worth $100,000. A permanent residence permit will be given for two years, then it can be extended for another three years.

5. Special merit (Turquoise Card): for outstanding achievements in science, business, culture, or sports.

The Turkish Statistical Institute (TÜİK) announced that in 2024 the costs for obtaining a Turkish are expected to increase by 58,46%. Here are the fees for different validity periods:

• a 6-month passport — 1,639 liras (≈ $54);

• a passport with a 1-year validity — 2,396 Turkish liras (≈ $78);

• a 2-year passport — 3,912 lira (≈ $128);

• a 3-year validity passport — 5,558 Turkish liras (≈ $182);

• passports with a validity of 4—10 years — 7,833 liras​​ (≈ $257).

The passport book fee has also increased to 790 liras (≈ $24).

Turkey allows dual and multiple citizenships under Article 44 of the Turkish Citizenship Law, which states that individuals can maintain multiple citizenships, provided they meet certain requirements and procedures laid out by the law​​.

A Turkish citizen acquiring citizenship of another country must inform Turkish authorities and have this information recorded in their civil registration. This requirement ensures that Turkey’s records accurately reflect its citizens' multiple nationalities.

Citizenship by investment in Turkey is suitable for those who want to live permanently in the country, obtain an E‑2 investor visa for the US or have a "safe haven" in case of an emergency at home. Also, the status of a citizen allows you to buy real estate at preferential mortgage rates.

Turkish citizenship is not suitable if the investor wants to have visa-free access to the USA, Canada, Europe, the UK, China, optimise taxes or develop business in Europe.

In these cases better choose citizenship of Malta, or the Caribbean: Antigua and Barbuda, Dominica, Saint Lucia, Grenada, Saint Kitts and Nevis and Vanuatu. All of them allow you to obtain citizenship for the whole family without living in the countries stated or knowing their native languages.

Uncover the advantages, terms, and details of the Turkish investment program

1. Obtaining Turkey citizenship by investment offers a wide range of benefits, including visa-free access to over 120 countries and the opportunity for an E‑2 investor visa to the USA.

2. Investors and their families can enjoy high-quality healthcare and education without the need for renouncing their original nationality.

3. The program allows investors to include their spouse and children under 18.

4. The program’s efficient processing time of 6 to 8 months ensures that investors can quickly gain citizenship and start enjoying the benefits.

5. The Turkish real estate market presents profitable investment opportunities with a variety of options and the potential for substantial returns.

6. The investment options include buying real estate for $400,000+, opening bank deposits of $500,000+, creating business with $500,000, and purchasing government securities or shares of investment funds for $500,000+.