Obtaining Turkish Citizenship: Real Estate and Investments

Second citizenship is an effective way to create a backup plan for living in a developed country for yourself and your family. Additionally, it offers opportunities to expand your business, reduce tax burdens, address personal security concerns, and help your children access prestigious education.

Today, many countries offer residence permits for investments. After obtaining a residence permit, you can eventually apply for permanent residency and then for citizenship. In this regard, Turkey offers more favorable conditions. In 2018, Turkish authorities revised the law on citizenship for foreign investments and lowered the investment threshold for foreign nationals by nearly four times. Today, there are several ways to obtain Turkish citizenship through real estate purchases:

• Purchase property worth at least $250,000 (cadastral value);
• Deposit at least $500,000 in a Turkish bank;
• Invest at least $500,000 in Turkish business development.

These favorable conditions and relatively low investment costs make Turkey one of the most popular countries offering similar terms. Many clients often ask, "What are the real benefits of a Turkish passport?" Specialists from the licensed agency GARANT IN have gathered the most up-to-date information on the advantages of Turkish citizenship.

Visa-Free Travel to Many Countries

According to the Henley & Partners Passport Index, Turkey ranks 51st in the world, offering its citizens visa-free or simplified entry to 111 countries. Turkish residents can apply for a Schengen visa valid for up to 10 years through a simplified process. Every year, about 1 million Turkish residents apply for a Schengen visa, and over 50% receive a multi-entry permit to travel to EU countries. There is a strong likelihood that Turkish citizens will soon be able to enter Europe without a visa, as the government has been actively working in this direction for several years.

Citizenship by Investment as a Backup Plan

Dual citizenship is ideal for individuals who plan to continue living in their home country or split their time between two countries, taking full advantage of both passports. A second citizenship serves as a backup option, allowing you to feel more secure. Any political or economic changes in your home country that you find unfavorable are no reason to stay. At any time, you can leave and relocate with your family to another, safer place. In Turkey, you can develop a business, legally work, or study at a local or foreign university.

Opportunity to Buy Land

Turkey offers excellent climate conditions, stunning nature, well-maintained coastlines, a dynamic economy, affordable cost of living, and a steady flow of tourists. Since 2020, Turkish residency has become even more attractive as local authorities have allowed foreign nationals to purchase not only real estate but also land. There are some restrictions for non-residents, but with a Turkish passport, you can buy and sell land of any size and purpose without intermediaries. You can manage the land at your discretion.

Turkish Real Estate: Investment Benefits

In 2021 alone, around 1.5 million real estate transactions were completed in Turkey. Investing in Turkish real estate offers several advantages:

• High returns. Purchasing real estate ensures stable profits and a quick return on investment. The main trend in the local market is the preservation and growth of real estate values, making long-term projects the most profitable.
• Tax benefits for foreign investors. To increase investment flows, foreign citizens enjoy several privileges, such as exemption from VAT for non-residents. The VAT rate in Turkey varies between 1% and 18%, and being exempt from it can save investors significant sums.
• Diverse opportunities. Turkey is a vast country with developed infrastructure, varying climates, and competitive prices, offering investors plenty of choices.
• Affordable prices. Real estate costs in Turkey are significantly lower than in European countries, suitable for different budgets. Moreover, the country’s stable tourism flow, strong economy, and many attractions make both investing and living in Turkey a highly attractive option.
• Government support. The Turkish government is highly focused on real estate development. Since 2017, many programs have been implemented to promote real estate. Key points include:
  • Reduction of down payments and mortgage rates from 25% to 20%;
  • VAT exemption for foreign citizens purchasing real estate;
  • Granting residency to investors and their families upon purchasing a property.

If you plan to obtain Turkish citizenship through investment but don’t know where to start, contact us. GARANT IN is a leading company in investment immigration, with over 10 years of experience. We’ll help you select and purchase Turkish real estate from a trusted broker at an affordable price. We can assist in finding the best investment option for your budget, handling documentation, opening bank accounts, submitting remote paperwork, and navigating other bureaucratic hurdles. Over the years, we have completed more than 500 cases. We are always available to our clients, even after the process is complete. We offer clear timelines and costs, with all cooperation terms laid out officially—everything is transparent and fair.

Turkish Citizenship After the Elections

The Turkish elections resulted in the re-election of President Erdogan. Experts have long speculated that reforms are expected for the citizenship-by-investment program. While no specific changes are confirmed, the program currently operates under its existing conditions.

Our specialists have analyzed the market, made several predictions, and proposed various strategies for investors based on their future plans.

Turkey’s Opportunities for Investors

What status can foreign residents obtain in Turkey?

• Official status without naturalization. Renting an apartment allows you to apply for a tourist residence permit. Note that this period does not count toward the total time required to apply for a passport. With a tourist residence permit, you can legally live in Turkey, travel abroad, rent property, and open bank accounts.
• Official status with naturalization rights. Purchasing property worth $50,000 in small towns or $75,000 in larger cities allows you to obtain a residence card and apply for citizenship after five years, provided certain conditions are met.
• Citizenship. By purchasing property worth at least $400,000 (cadastral value), investors can apply for a Turkish passport. The property can be used for personal purposes or rented out. It can be sold with the retained status after three years.

It is still unclear how exactly the citizenship-by-investment program will change. The most likely change will be raising the minimum investment threshold to $700,000.

Since it’s not mandatory to live in the purchased property, many investors acquire real estate not only to obtain a passport but also for passive income. Through real estate, you can solve two problems at once. Let’s look at the specifics of each.

Citizenship and Investment

If your goal is to purchase a property for profit, pay attention to the characteristics, infrastructure, location, and surrounding areas. All these factors will help determine how much the property will increase in value over time: the return on investment, rental income, and resale profit.

By purchasing property during the construction phase, you can achieve profits ranging from 30% to 200%. Long-term rental income can reach up to 7%, while short-term rentals can generate up to 14%.

Where to Find Promising Investment Opportunities:

• Istanbul – Turkey’s largest city is ideal for generating income, though location is key. One advantage is that the cadastral value of properties in Istanbul closely matches the real market value, unlike coastal areas where differences can reach 50%.
• Gokturk. A district favored by local residents. The area is undergoing renovation, and buyers do not need to pay the 2% tax on registering property titles (TAPU). Estimated rental income: 6%.
• Maltepe. A district in the Asian part of the city known for its long, luxurious promenade, parks, and bike paths. Estimated rental income: 4%.
• Atasehir. A rapidly developing district in the Asian part of the city, almost a satellite town. The International Financial Center is planned to open, leading to increased demand for housing. Estimated rental income: 6%.
• Izmir. A large Turkish city (the third most populous) with the second-largest port. Many new residential complexes are being built here and are in high demand. Estimated rental income: 4% per year.

Citizenship and Living

Each buyer selects a property for living based on personal preferences. Some prefer lively tourist areas, others need a seaside location, while some prioritize privacy and proximity to good private schools.

64% of applicants choose regions with developed infrastructure and business opportunities. In this case, Istanbul becomes the ideal location—a metropolis with a wide selection of educational institutions, a vibrant cultural scene, and job opportunities.

Districts like Maslak, Mivente, and Sisli are suited for those who enjoy the fast-paced rhythm of a big city, while Katal, Uskudar, and Beylikduzu are ideal for a quiet family life. Uskudar is the greenest district of Istanbul, with many gated residential complexes under construction. By choosing this area, you can be sure of having respectable neighbors—politicians, businesspeople, and athletes.

If you are considering purchasing property in Turkey for status change or additional income, now is the time to act—while the current conditions still apply, as the situation could change unexpectedly at any moment. Selecting a property, obtaining a visa, securing a residence card, drafting and notarizing any agreements—all of these tasks can be handled by the legal team at GARANT.IN.