Citizenship by real estate investment in Turkey in 2023

  • Remote transaction closing
  • $400,000 for a family
  • Simple procedure
  • Repayable investment

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    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 124 countries, including Singapore, Japan and Hong Kong.
    • Possibility to apply for a US E-2 visa. It is valid for 5 years and can be renewed every 2 years after that.
    • 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

    • 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.
    Learn all the requirements

    Due diligence of investor obtaining citizenship of Turke

    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

    • 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 in the case of multiple properties purchased in different cities at different times, 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.
    Real property selection

    Best offers in January

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      Apartments in a residential complex with a pool and a view of the Golden Horn Bay, Istanbul, Turkey

      Apartments in a residential complex with a pool and a view of the Golden Horn Bay, Istanbul, Turkey

      From 446,000 $

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    • Citizenship

      New spacious apartments in a popular area with developed infrastructure, Istanbul, Turkey

      New spacious apartments in a popular area with developed infrastructure, Istanbul, Turkey

      From 418,000 $

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    • Citizenship

      New residential complex, reconstruction project of a whole area in the city center, Beyoglu, ...

      New residential complex, reconstruction project of a whole area in the city center, Beyoglu, ...

      From 479,000 $

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    • Citizenship

      Furnished apartments with views of the Bosphorus and the city, in a building with swimming pool ...

      Furnished apartments with views of the Bosphorus and the city, in a building with swimming pool ...

      From 501,000 $

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    • Citizenship

      Apartments in a new residence, in the center of Istanbul, Turkey

      Apartments in a new residence, in the center of Istanbul, Turkey

      610,000 $

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    • Citizenship

      Elite apartment with a picturesque view of the Bosphorus, Kandilli, Istanbul, Turkey

      Elite apartment with a picturesque view of the Bosphorus, Kandilli, Istanbul, Turkey

      From 1,200,000 $

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    • Citizenship

      New residence with a private beach and a spa close to the center of Bodrum, Turkey

      New residence with a private beach and a spa close to the center of Bodrum, Turkey

      From 6,952,000 $

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    • Citizenship

      Three-bedroom apartment in a new complex with a good infrastructure, Kepez district, Antalya, Turkey

      Three-bedroom apartment in a new complex with a good infrastructure, Kepez district, Antalya, Turkey

      435,000 $

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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 for investor to obtain Turkish passport

      1. 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.

      2. 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.

      3. Step 3. Collecting documents for 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.

      4. Step 4. Obtaining a residence permit

        A residence permit (ikamet) is an optional 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.

      5. 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.

      6. 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.

      Get advice

      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 75,000 $.

      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 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

      • This is the third time I’ve bought a property with Tranio's help. This time, we needed a back-up plan, a port in the storm, so to speak. We didn’t dare to choose Dubai, because it just didn’t look like a family nest in our opinion. As for Turkey, our doubts disappeared as soon as we arrived in Istanbul. Both the choice of an apartment and the deal itself — everything was carried out professionally and humane, as always. Documents for passports for 6 people were collected and submitted quickly.

        Lana

      • I sincerely thank Tranio’s Istanbul managers: they have accomplished the impossible. There was only one complex that I liked without reserve, no questions asked. But while I hesitated, apartments suitable for my budget were sold out. Yulia miraculously found a person who sold an apartment in that complex on assignment. I had a lawyer to submit documents for my passport in my stead. Now I'm waiting for the result in 4 months.

        Yuriy

      • I bought a house in Alanya for 520,000 dollars through acquaintances. As it turned out, its cadastral value was about 105,000 dollars and I had to get at least 295,000 more to qualify for a passport. I contacted Tranio. They found me an apartment in Istanbul for 310,000 dollars. I applied for a passport. While I’m waiting for citizenship, I have obtained a residence permit and live in Alanya. I’m renting out an Istanbul apartment.

        Alex

      • We decided to move to Istanbul in May, when there was already talk about raising the threshold for citizenship by investment. We wouldn’t be able to afford it for 400,000 dollars. Thank you for organising everything quickly and in the nick of time for 250,000. Yulia met us in Istanbul, we found an apartment over the weekend, and on Monday we signed the contract. We live in our new apartment and will get our passports soon.

        Konstantin

        Frequently asked questions of investors

        1. 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.
        2. 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.
        3. 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.
        4. 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.
        5. 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.
        6. How much does it cost to obtain Turkey’s citizenship?
          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)
        1. 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.
        2. May documents with application for Turkish citizenship 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.
        3. 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.
        4. What real estate is eligible for 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 $.
        5. Where is best to buy real estate to obtain passport?
          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.
        6. 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.
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          Head of Sales

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