Citizenship
June 5, 2024
Reading Time: 5 min

How to obtain Turkey citizenship by real estate investment

Obtaining Turkey citizenship by property investment is one of the least expensive and fastest ways to get a second passport.

By buying property for $400,000+, an investor is eligible to apply for Turkey citizenship. The passport is normally granted in 6–8 months after the application. With relatively high rental yield and growing property costs, this option is favoured by 95% of investors.

Elena Ruda
Elena Ruda

Shared details about Turkey real estate investment program

Turkey citizenship by real estate investment: how to obtain in 2022

How to obtain Turkey citizenship by real estate investment

Turkey citizenship by real estate investment: a program overview

Obtaining Turkey citizenship by buying property is relatively simple. Here are the most important points of the program.

$400,000

Minimum cost of property

The property cost must be $400,000 or above. It may be either residential or commercial, new or resale property. The investor cannot buy the property which was already used once in the Turkish real estate investment program — such property will not make the investor eligible to apply for citizenship.

Citizenship for the whole family. Purchasing the property makes the investor and their immediate family eligible to apply for Turkey citizenship. The investor’s spouse and children under 18 can apply for citizenship alongside the investor. Parents and children over 18 can obtain a residence permit.

The property can be resold after 3 years of ownership. The only restriction here is that the investor cannot resell the property to its previous owner. While owning the property, the investor can also rent it out.

Mild residing requirements. To apply for citizenship, the investor does not need to live in Turkey. Nor do they have to pass the language or history exams to get a passport.

Housing in Turkey: a real estate market overview

The most popular cities for foreigners to buy property in are Istanbul, Ankara, and Antalya, with 73% of all the deals in 2021. Those are major cities with established infrastructure, cultural life and steady touristic flow; the demand for the rent in those cities is growing, which means it can be profitable to buy the property there to rent it out afterwards.

Not only in those three cities, but in Turkey as a whole, the rate of foreigners buying property is growing. In 2021, foreigners bought 43,5% more houses and apartments than in 2020.

In the last 10 years, nearly 20,000 foreigners obtained their Turkish passports by real estate investment. The most active buyers were citizens of Iraq, Iran and Russia, although, in 2022, the rate of Chinese investors buying Turkish property is growing, too.

Since January 2022, property costs for the investment program have been measured in US dollars due to the volatility of the national currency.

Property prices in Turkey

The prices are the highest in Istanbul and the Aegean coast — namely in Izmir, Fethiye and Bodrum, while Ankara and Antalya are the least expensive.

$896

Average price for m² in Turkey

Premium apartments typically start from $360,000, while villas usually cost from $750,000 to $3,000,000.

Rental yield is usually 3­–5%, and property maintenance costs approximately $850 annually.

Property prices in Turkey

City

Avg price for m²
in a city centre

Avg price for m²
outside the city centre

Ankara

$760

$540

Antalya

$930

$470

Izmir

$1,000

$580

Dalyan

$1,600

$840

Istanbul

­­$1,900

$970

Bodrum

$2,600

$1,300

Additional program expenses and taxes

Besides $400,000, there will be additional charges to pay for obtaining Turkey citizenship. Below is the table of expenses for the sole applicant; adding other family members will cost $574 per person.

Transaction fees will be different for new and resale properties, as the Title Deed Transfer fee is 2% of the property cost for the new property and 4% for resale property.

Example of the cost calculation for an investor

Expenses

Sum

Property cost

$400,000

Government fees per person

$574

Notary fees

$1,071

Transaction fees


$8,329
for a new property
$16,329
for a resold property

Professional fees

$9,071

Total

$419,045
for a new property

­$427,045
for a resold property

Additionally, there are annual taxes for owning real estate property:

  1. Property tax: 0,1%—0.6% of the cadastral value.

  2. Luxury tax: 0,3%—1% for property worth more than 5,000,000 Turkish liras (approximately $305,000).

Requirements for entering the program

An investor must be 18+ years old and have:

  • legal income;

  • no standing criminal record;

  • no violations of the Turkey visa regime;

  • no severe illnesses such as HIV, hepatitis or tuberculosis.

An investor’s family is typically considered to be a spouse and children under 18 — they can be included in the citizenship application along with the investor. The investor’s parents and children over 18 can obtain a residence permit.

How to buy real estate in Turkey and get citizenship: step-by-step procedure

1

1 day

Pass Due Diligence pre-check

A pre-check is a mandatory procedure that lowers rejection risks down to 1%. Immigrant Invest Anti Money Laundering Officers look the investor up in international legal and business databases to check whether there are risks of the application rejection. The investor should only provide our specialists with a copy of their passport.

2

2-4 weeks

Prepare the documents

Here is the list of documents the investor will need to provide. All documents should be translated into Turkish and apostilled:

  • notarised translation of the passport;

  • health certificate;

  • birth certificates of all the family members;

  • marriage certificate;

  • certificate of family composition;

  • certificate of no criminal record for every applicant;

  • income statement.

3

5-6 weeks

Buy property and register it

Choose the property on-site or online. It is advisable to seek legal assistance in this matter: the lawyers can help you obtain all the necessary documents, register ownership, and ensure that the property is eligible for the real estate investment program. Immigrant Invest Real Estate Department cooperates with trusted developers and suggests verified property options for investors.

4

3 months

Pass official Due Diligence

For up to three months, the Turkish Ministry of Interior will check the investor and their family in international business and legal databases. Their job is to ensure that giving citizenship to the investor will not put the country or its people in any danger.

5

2+ days

Get the passport

Once the Due Diligence is cleared, the investor can obtain their passport either in Turkey or in the Turkish embassy in their country.

1
1 day

Due Diligence pre-check

2
2–4 weeks

Preparing the documents

3
5–6 weeks

Buying and registering property

4
3 months

Due Diligence

5
2+ days

Obtaining a passport

Other ways to obtain Turkey citizenship by investment

Besides the real estate purchase, there are several other ways to get a Turkish passport by investment. All payments are made in US dollars due to the volatility of the Turkish national currency.

$500,000

Minimum investment in the Turkish economy to get citizenship

Investment options under the Turkey citizenship program include:

  • opening a business in Turkey;

  • open a deposit in a Turkish bank;

  • buying government bonds;

  • buying shares in Turkish investment funds;

  • creating 50 jobs.

Either way, besides the investment itself, the investor will also pay government fees for themselves and each family member wishing to obtain citizenship.

Individual cost calculation of the Turkey citizenship

Individual cost calculation of the Turkey citizenship

Benefits of Turkey citizenship

Fast obtaining of the passport. After buying and registering the property, the investor gets their second passport approximately in 3 months. All procedures, including document preparation and property purchase, can take up to 6­–8 months, which is still relatively fast.

100+ visa-free countries. Turkish citizens can travel visa-free to many countries, including some of the less easily accessible ones, such as Singapore, and South Korea.

5-year Schengen visa. Turkish citizens are eligible to obtain a C­‑2 Schengen visa, which gives access to the Schengen countries for up to 90 days out of 180.

US visas. Turkish citizens can obtain an E‑2 US visa, which allows them and their families to come live and work in the USA. They can also get tourist B‑1/B‑2 visas for 10 years.

Profitable investment. Unlike some other programs, the Turkey citizenship by real estate investment program allows one to return the investments by selling the property after only three years of owning it. Because of steadily growing prices in real estate, the investment is likely to be profitable.

Immigrant Invest is a licensed agent for citizenship and residence by investment programs in the EU, the Caribbean, Asia, and the Middle East. Take advantage of our global 15-year expertise — schedule a meeting with our investment programs experts.

Will you obtain Turkish citizenship?

Practical Guide

Will you obtain Turkish citizenship?

Frequently asked questions

  • Can I get Turkey citizenship by buying a house?

    Yes, but the property you buy needs to comply with several criteria:

    • it should cost $400,000 and above;

    • sold by a Turkish person or organisation;

    • should not have been previously sold to a person seeking Turkish citizenship through real estate investment.

    However, the property itself can be either commercial or residential, new or resale — regardless of its nature, you still get a right to apply for citizenship after buying it.

  • How much do I need to invest in Turkey to get citizenship?

    You can purchase a property worth $400,000 and above to get the right to obtain a Turkish passport. There will also be government fees and additional expenses, altogether adding up to roughly $420,000 if you’re applying alone.

  • How can I get citizenship in Turkey?

    You can get a Turkish passport by investing money in the country’s economy. The most affordable option would probably be buying property worth $400,000 and above. Other options start from $500,000 and include:

    • lacing a deposit into a Turkish bank;

    • opening a business;

    • buying government bonds;

    • buying shares in investment funds.

    There are also non-investment options: naturalisation, marriage, and obtaining citizenship through special services to the government. But those options take 3 to 5 years.

  • Does Turkey offer citizenship by investment?

    Yes. You can get a Turkish passport by investing money in the country’s economy. The most affordable option would probably be buying property worth $400,000 and above. Other options start from $500,000 and include:

    • lacing a deposit into a Turkish bank;

    • opening a business;

    • buying government bonds;

    • buying shares in investment funds.

  • Can a foreigner buy property in Turkey?

    Yes, they can. If the property cost is $400,000 and above, said foreigner is eligible for applying for Turkey citizenship. If the property costs less than $400,000, the buyer is not eligible for citizenship, but it is still possible to buy the property.

  • Do foreigners pay property taxes in Turkey?

    Yes, they pay a title deed transfer fee — 4% of the cadastral cost — and the annual taxes: 0.1–0.6% of the cadastral value, annual property maintenance cost, and tax on luxury 0.3–1%, if the property is worth more than 5,000,000 Turkish liras.

  • How much is property tax in Turkey?

    The annual taxes are 0.1–0.6% of the cadastral value, ≈ $850 annual property maintenance cost, and tax on luxury 0.3–1% if the property is worth more than 5,000,000 Turkish liras.

  • Is buying property in Turkey a good investment?

    It depends on your goals. The property costs are growing rapidly; the rental yield is 3% to 5% per annum. Suppose you seek to get a Turkish passport by real estate investment. In that case, you can resell the property after only three years of owning it — and even sooner than that if you are not interested in Turkish citizenship. Considering the rental and selling profits, it might actually be a good deal.

  • Are there any restrictions on renting out the investment property in Turkey?

    Turkey has recently implemented stricter regulations regarding the short-term rental of real estate. Under the new guidelines, landlords seeking to rent out their properties for up to 100 days must first secure consent from all co-owners within the building and obtain a special license. Failure to comply with these regulations could result in $3,500—35,000 fines.

    Property owners must pay tax if they accommodate distant relatives in an apartment for free. In this way, owners avoid paying taxes on empty homes. The exception is parents, children, and grandchildren.

  • What happens if the property value decreases or increases significantly after purchase but before Turkish citizenship is granted?

    In essence, fluctuations in property value after purchase do not impact the investor, nor will they result in the revocation of citizenship. The primary requirement for obtaining Turkey citizenship by property investment is that the property’s value at the time of purchase meets the government’s minimum threshold, currently $400,000. This valuation is documented in a TAPU, which serves as proof of ownership for real estate acquired in Turkey, or in a title deed.

    Furthermore, the Capital Markets Board (SPK) has intensified its oversight within the real estate sector to address instances of sellers inflating property values to attract foreign investors. Consequently, individuals involved in property transactions are now obliged to obtain a property assessment report from an organisation holding an SPK license when buying or selling real estate.