Citizenship by real estate investment in Turkey in 2024
- Remote transaction closing
- $400,000 for a family
- Simple procedure
- Repayable investment
Complete the questionnaire and get a primary selection of projects
What type of property are you interested in?
- House
- Apartment
Question 1 of 3
What is Turkish citizenship by real estate, security or business investment
Turkey grants citizenship to the investor and his family for their contribution to the country's economy. Furthermore, living in Turkey is not required. You can invest in real estate, government bonds or investment fund shares. In addition, you can establish a business in Turkey or open a bank deposit.
The minimum investment amount is 500,000 $; this threshold is reduced to 400,000 $ only in the case of buying real estate. After 3 years, investment property can be sold, while citizenship is retained.
Turkish authorities process the citizenship application from 6 to 9 months. The application is considered by the Ministry of Interior and completed with the president’s permission.
Inna Shchukina, Real Estate Expert
What are the benefits of Turkish citizenship for the investor?
- Visa-free entry to 110+ countries of the world, including Singapore, Japan, and Hong Kong.
- The opportunity to apply for a US E-2 non-immigrant visa for 5 years with the possibility of extension (available to certain countries only), as well as a tourist visa for 10 years.
- Turkey is negotiating accession to the EU and visa-free travel to the Schengen area.
- Citizens of Turkey are not subject to the sanctions of the EU, UK, or USA.
- Turkey does not disclose information about the persons obtaining citizenship or exchange it with third parties.
Visa-Free Travel Card with a Turkish passport
What should the investor already holding real estate of over $400,000 in Turkey do?
The Turkish citizenship by investment programme was updated on 18 September 2018. Acquisition of a real property in different locations in Turkey and at different moments starting from this date may be the grounds to obtain Turkish citizenship. It is important that the total price of several real properties should exceed $400,000 and all the transactions should meet the terms and conditions of the programme.
The real property acquired before 2018 can be sold to purchase the new property eligible for the programme.
Risks of holding Turkish passports and assets
- Internal political instability: There was an attempt of an armed coup d’etat in Turkey in 2016.
- External political instability: tensions with Armenia and Syria.
- High inflation and the depreciation of the national currency.
One and the same real property may not be used twice for the purposes of the Turkish citizenship programme
Inna Shchukina, Real Estate Expert
Terms and conditions to obtain Turkish citizenship by investment
- No violations of Turkey’s migration law.
- The main applicant should be over 18 years of age.
- Payment of all the applicable taxes and levies.
- Performance of investment requirements.
- Submittal of the full list of documents and additional documents, if any is required.
Due diligence of investor obtaining citizenship of Turkey by buying property
Compliance in Turkey is rather uncomplicated. The investor does not have to prove origin of funds or steady income. However, Turkey’s Ministry of Internal Affairs checks if the applicant is subject to criminal prosecution.
Before starting the procedure, Tranio recommends discussing your application with a competent lawyer who will check the chances of obtaining a favourable decision from the Turkish authorities
Eligibility criteria for real property under the programme Turkish passport by investment
- Real estate of any type: residential, commercial, land.
- The cadastral value of the property should be at least $400,000 irrespective of the price set by the seller.
- The property has not been previously used in the programme.
- The previous owner of the property must be a Turkish individual or legal entity. Concurrently, during the previous 3 years, there should not be any transfers of ownership rights to the property from a foreign person.
- The application for citizenship can include several certificates of ownership of several real estate objects purchased at the construction stage of the project from the developer under one notary agreement, but not earlier than 18 September 2018. The total cadastral value of all properties must be at least 400,000 $.
- The basis for citizenship can also be properties under construction, for which certificates of ownership are not yet ready. In this case, a notarised contract with the developer should be attached to the application. Note, that while you can include several properties in the application, there can only be one contract. In other words, you can buy one or more properties from the same developer and in the same project.
- From 1 February 2023, one property can serve as a basis for citizenship for one main applicant. Which means that buying one property worth more than 800,000 $ with a purpose of dividing it into two shares and submitting two applications for citizenship will no longer work. The property serving as a citizenship basis must have one foreign owner who can then include family members in their citizenship application.
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It is the cadastral value that must exceed 400,000 $. In Istanbul primary properties, the cadastral value is almost always equal to the actual price. Resale and primary properties in other regions often have a cadastral value much lower than the real price.
Inna Shchukina, Real Estate Expert
Steps to obtain Turkish passport by investment in property
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Step 1. Choosing a property
We will help you choose a property that meets the requirements of the programme as well as the investor’s goals.
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Step 2. Registering the deal and paying
You only need an international passport to purchase real estate. There are several ways make a payment: by SWIFT transfer from a client's account in an unsanctioned Russian bank, from a Turkish bank account or from a brokerage account. Starting from 1 February 2023, the ability to use banks’ secure payment systems, such as a letter of credit, has been added, which is activated only after the seller fulfils obligations.
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Step 3. Collecting documents for Turkey citizenship
You will need photographs; apostilled originals and notarised copies of the translation of the passports of the main applicant and his family members; state duty payment receipts; and a certificate of conformity of real estate issued by the Cadastral Office. As a rule, this certificate is prepared along with the deal at the same time. Additional documents may be required.
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Step 4. Obtaining a residence permit
A residence permit (ikamet) is a mandatory intermediate step. It serves as a basis for staying in Turkey for the whole duration of the citizenship procedure. A residence permit based on real estate property can take from 2 weeks to 3 months to issue, depending on the workload of the Migration Department of Turkey. You can apply for a residence permit immediately after receiving a certificate of ownership for the property.
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Step 5. Submitting a citizenship application
The application is submitted to the General Directorate of Civil Registration and Citizenship Affairs. It is checked by the Ministry of Interior and the National Police. The final approval is made when the application is sent to the President’s Office. You will need to submit biometrics at any Turkish migration centre or at the Turkish consulate in your country. The whole process from application to approval lasts from 6 to 9 months.
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Step 6. Getting a passport
Turkish passport can only be received in person in Turkey or at the Turkish consulate in your country.
How to make transaction payment in Turkey amidst sanctions
It is possible to pay for the purchase of real estate from Russia. All transaction options are discussed individually and within the legal framework.
What other residence options are available?
If the investor owns property in Turkey, then it will be possible to obtain a long-term visa. However, property owners rarely apply for a visa, preferring to immediately apply for a Turkish residence permit instead. To do this, the investor must provide a certificate of ownership (TAPU). In this case, the value of purchased property must exceed 200,000 $.
Spouse, children under 18 years of age and parents can also obtain resident status. A residence permit based on real estate is issued for 1–2 years and can be extended.
Once the cumulative duration of stay in Turkey under a short‑term residence permit is eight years, the applicant may seek long-term residence permit or permanent residence. Permanent residence is granted permanently and is in fact termless.
The status is cancelled of its foreign holder stays outside Turkey continuously for more than one year. The exceptions are stays for health, education and compulsory public service purposes.
Why obtain Turkish citizenship by investment with Tranio?
We have been selling real estate since 2010. We have employees who have been living in Turkey for a long time and who know the local property market well. They will meet you, accompany you to viewings or organise them online, give advice and help you choose the right property: for rental income, for relocating or for a lucrative resale in the future; they can also tell you how to profitably rent out your property. Additionally, they can advise you on how to have a good time between viewings and what is the best place to go shopping. If you are planning to move to Turkey, they will share their experience with you.
Reliable citizenship lawyers will not only help you correctly submit documents, but they will also reduce the risk of additional documents requests and refusals.
- Proven real properties
- Transaction support
- Partners in location
- Support with formalities
Buyers' testimonials
Frequently asked questions about Turkish citizenship by investment
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Is it legitimate for Russian citizens to buy real estate in Turkey?It is legitimate. Turkey is not on the list of the countries taking “unfriendly” actions against Russia, so Russians may buy real estate here.
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Are Turkish agencies and developers ready to work with buyers from Russia?They are ready. Tranio’s partners are willing to help investors from Russia to purchase real estate and obtain residence permits and citizenship.
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May payment be made in Russian roubles from Russian account directly to developer or broker?Some developers accept payment in Russian roubles. The receiving party converts the currency and, if citizenship is required, provides a conversion certificate.
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May transaction payment be made with cryptocurrency?Many Turkish developers accept payment in cryptocurrency directly from the buyer. However, in the case of getting a passport a bank transfer is required. It can be done through a trusted lawyer, his crypto wallet and a bank account.
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Must bank account be opened in Turkey?It is not compulsory. The funds may be transferred directly to the developer from a Russian account. The developer would issue documentary proofs and a currency conversion receipt to be further submitted with a citizenship application.
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How much does it cost to obtain Turkey’s citizenship by investment?The lawyer's fee is discussed individually depending on the number of family members in the application and their age.
Included in the registration fee:
110 $ — real estate valuation;
40–70 $ — state duty at the cadastral office;
25 $ — a fee for issuing a residence permit for a year;
15 $ — citizenship fee.
Paid separately by the buyer:
Property ownership transfer tax in Turkey is 4%; by default, it is paid equally by the buyer and the seller (2% each), but in practice it is more often paid by the buyer;
VAT (1% or 18%) — can be refunded after obtaining citizenship;
1 100–1 200 $ — VAT refund service;
50–60 $ — document translations (for each document);
25–30 $ — property insurance.
(prices subject to change)
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May transaction be made remotely?Partially. The contract of sale is signed by the buyer. However, he can sign the contract remotely. The procedure looks like this: they send the buyer a contract by mail, he prints it out, signs it, scans it and sends it back. In general, notarisation of the contract is not required. That being said, in order to obtain a certificate of ownership from the local cadastral office, the personal presence of the buyer or his lawyer with a power of attorney is necessary. A power of attorney for a lawyer is executed in Turkey.
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May documents with application for Turkish citizenship by real estate investment be filed remotely?Partially. A lawyer can submit a package of documents by proxy, and biometric data can be submitted at the Turkish consulate in Moscow, St. Petersburg, Yekaterinburg, Novorossiysk or Kazan. However, in order to execute a power of attorney for a lawyer, you will have to come to Turkey.
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What relative may make application together with investor?The spouse and children under 18 years may make application together with the investor. Children over 18 years may submit the documents only if they are first-degree disabled.
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What real estate is eligible for Turkey citizenship?It is best to choose primary properties with a sale price corresponding to the cadastral value. Resale properties as well as some primary ones can have a cadastral value well below the actual market price, sometimes several times lower. When buying such objects for citizenship, you will have to increase the budget. After all, according to the citizenship rules, the cadastral value of real estate for obtaining citizenship must be at least 400,000 $.
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Where is best to buy real estate to obtain Turkish passport by investment?Both developed and developing districts of Istanbul. There are more opportunities to find investment-attractive properties with a suitable cadastral value there, without the need to overpay.
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What rental income can be expected?It will depend on the property and region. Yields from long-term rentals are 4% per annum before taxes on average.
You cannot rent out properties on a short-term basis in Turkey; this can only be done through management companies that have special licenses. The ban does not apply to apart-hotels that are classified as commercial real estate. Rental yields on short-term rentals can reach 6% per annum before taxes, but after management costs.