Real Estate Investment Is the Best Way to Obtain Turkish Citizenship
What is Citizenship by Investment?
Some countries grant citizenship to foreigners through direct or indirect investment. Citizenship can be obtained from countries by investing in government bonds, real estate investment, establishing a business, and creating employment. Citizenship gained through investments made in this way is called “citizenship by investment”. Every country that grants citizenship by investment has special conditions that it wants to be fulfilled. In some countries' citizenship by investment program, you do not need to speak that country's language and live in the country.
While it takes 3-4 months to get their passport from some countries, it takes 7-10 years for others. For example, by making a real estate investment in Turkey, a Turkish passport can be obtained in a short period of 3 months. In Spain, it is possible to apply for citizenship after 10 years of residence.
Why do people invest in a second citizenship?
Some countries grant foreigners the right to second citizenship through investment. Second citizenship does not oblige the person to live in the country and provides some advantages:
- The right to live in the country without the need for a residence permit
- The right to work and establish a business in the country without the need for a work permit
- Owning the country's passport and privileges (such as visa-free travel to hundreds of countries)
- Possibility to become a citizen with the family (spouse and children under 18)
- Benefiting from opportunities such as education, health, and tax advantages provided by the state
- Opportunity to quickly go to a different country in the face of an unforeseen situation
How to Get Citizenship by Investment?
Countries that grant citizenship by investment have different requirements that they require applicants to comply with. The minimum investment amount required, type of investment, requirements for the investor, application costs, investment conditions, and citizenship process differ from country to country. Types of investments vary according to different countries. While some countries want a non-repayable contribution (donation) to the country's economy, some countries want investment in real estate, securities, business, or other assets that cannot be sold for a certain period (between 3 and 10 years).
Citizenship gained through real estate investment is one of the most advantageous ways. It is possible to benefit from many incentives that countries provide to foreign investors by purchasing real estate. For example, the Turkish Government provides foreign investors with great incentives to purchase real estate, such as tax reductions.
It is also possible to apply for citizenship through real estate, together with all family members (spouse and children under 18).
Citizenship Programs Through Investment
Let's take a brief look at a few countries that grant direct citizenship through real estate investment, without seeking residence.
Turkey
Turkey is the most ideal country where you can get citizenship through real estate. You can acquire Turkish citizenship by purchasing a luxury residence for a small fee of 400.000 USD. A foreigner who has obtained Turkish citizenship can benefit from all kinds of opportunities offered by the Turkish Government to its citizens.
Click for more information about the advantages of Turkish citizenship.
A foreigner who has acquired Turkish citizenship can live in Turkey without a residence permit, work at any job without a work permit, and benefit from education and health opportunities free of charge. A person getting a Turkish passport can travel to 110 countries without a visa.
When applying for citizenship by purchasing real estate in Turkey, the purchased real estate should not be sold for 3 years. Income can be obtained by renting the property for 3 years, after 3 years, profit can be obtained by selling it.
Application for citizenship through real estate in Turkey results in an average of 3 months.
Malta
Malta is one of the countries that grant citizenship through real estate investment. In real estate purchases of 700.000 € or more, citizenship applications can be made with spouses and children under the age of 18 (children in need of care until 29 years old). With a Maltese passport, you can travel to 184 countries without a visa. Real estate purchased for citizenship in Malta should not be sold for 5 years. Application for citizenship through real estate in Malta results in an average of 12-36 months.
Caribbean Countries (Latin America)
It is possible to obtain direct citizenship by investing in small island countries in South America. Citizenship can be obtained directly by donating 1.000.000 USD per person. In countries, located in the Caribbean, such as Dominica, Antigua and Barbuda, St. Kitts and Nevis, and St. Lucia, citizenship can be obtained through investment.
Bulgaria
Citizenship by investment in Bulgaria, unlike in other countries, takes place gradually. In the country with a minimum investment amount of 1.200.000 USD in total, investors are expected to deposit 600.000 USD in the first year and again 600.000 USD a year later for citizenship. After the second investment of 600.000 USD, a citizenship application can be made.
"Turkish citizenship through real estate amount is increased from 250 thousand to 400 thousand dollars. The new decision about Turkish citizenship came into force on 13 June 2022."
Residency Programs by Investment
In some countries, a residence permit can be obtained by investing determined amounts and a citizenship application can be made after a certain period.
Spain
When a real estate is purchased in Spain value of 500.000 €, a 1-year residence permit can be obtained, and this residence permit can be renewed periodically. After 10 years of residence, an application for Spanish citizenship can be made.
Portugal
The minimum investment amount for citizenship in Portugal is 500.000 €. A residence permit can be obtained when a real estate of 500.000 € or more is purchased in Portugal, and a citizenship application can be made after 5 years of residence. To apply for Portuguese citizenship, there is a requirement to reside in the country 7 days a year for five years. The real estate resale period is 5 years.
United States of America
The minimum investment amount determined by the United States for citizenship is 1,000,000 USD. A residence permit can be obtained after this investment in the country, which requires an investment of 1,000,000 USD in a qualified commercial enterprise in the USA. After 5 years of residence, a citizenship application can be made. Foreigners who request citizenship are expected to reside in the United States for at least 183 days a year within 5 years.
United Kingdom
The UK, an island country in Europe, has one of the most expensive citizenship programs. To apply for citizenship in the UK, investors are expected to invest a minimum of £2,000,000 (approximately 2.6 million USD) (government bonds, real estate, etc.). After this investment, there is a requirement to live in the country for 3 years. After 5 years of residence in the UK, you have the right to obtain an indefinite residence permit. After 6 years of residence, you can apply for British citizenship.
Australia
Australia, which is another island country and also a separate continent, is one of the countries with the most difficult citizenship criteria. There is a 3-year residence requirement in the country with a minimum investment amount of 2.000.000 USD. A citizenship application can be made after at least 7 years.
Real Estate Investment Is the Best Way to Obtain Turkish Citizenship
The Turkish Government offers various options for foreigners who want to become Turkish citizens.
The right to apply for Turkish citizenship is given to foreigners;
- making a minimum real estate investment of 400.000 USD,
- investing in a company with a minimum capital of 500.000 USD,
- investing 500.000 USD in state investment instruments and Turkish public banks, on the condition of keeping it for 3 years,
- establishing a business that can create employment for at least 50 people.
Real estate investment is the best way to obtain Turkish citizenship. With real estate investment, citizenship applications can be made together with family members. Real estate investment is one of the best investment opportunities in Turkey, where luxury and modern housing options are available. Real estate investment in Turkey, which provides great gains, is one of the most preferred options for foreigners who want to obtain citizenship.
Some Advantages of Being a Turkish Citizen
The right to live in Turkey without a residence permit, to study without a student visa, and to work without a work visa
Visa-free travel to 110 countries with a Turkish passport
Opportunity for Turkish citizens to benefit from advanced and modern health services free of charge
The opportunity to easily obtain a Schengen Visa, which allows free movement in European Union countries
Opportunity to obtain an easy US E2 visa for Turkish citizens
You can contact the experienced real estate consultants of Diyar Turk Real Estate to obtain Turkish citizenship by investment in Turkey.
