Results of the Turkish citizenship program for 2017‑2020

Demand for Turkey’s citizenship program grows annually, even despite the crisis and the coronavirus pandemic. About 4,000 investors applied for Turkish citizenship between March and May 2020. Other countries with investment programs were more likely to record a decline in the number of participants at the beginning of the pandemic.

Investors from Iran ranked first in the number of passports received, followed by citizens of Afghanistan and Iraq in second and third. Turkey also approved applications to investors from the United States, Canada, Great Britain, Russia, and St. Kitts and Nevis.

Citizens of which countries most often received Turkish citizenship from 2017 to 2020

Investors receive Turkish citizenship by investment of $250,000 or more in the country’s economy. The state government offers participants of the program six investment options:

1. Purchase real estate — from $250,000.

2. Open a deposit in a Turkish bank — from $500,000.

3. Buy securities — from $500,000.

4. Buy government bonds — from $500,000.

5. Opening a business with a capital of $500,000 or creating 50 workplaces.

6. To buy shares of investment funds — from $500,000

Investments under the citizenship program are repayable. After three years, the investor can sell the purchased securities or real estate or close the deposit.

The most popular option is the purchase of the real estate. Prices of Turkish real estate are rising by an average of 5‑20% per year, depending on the region. Since the beginning of the coronavirus pandemic, prices have increased by 15‑30%, according to the Chamber of Realtors.

One-bedroom apartments in Provincetown range in price from $30,000 to $50,000, with prices for multi-bedroom villas starting at $100,000.

To meet the investment prerequisite, an investor can buy for $250,000 to choose from:

1. Several inexpensive apartments in Kemer.

2. A two-bedroom apartment in Istanbul of 80 m².

3. A three-bedroom apartment in Antalya of 170 m².

4. A villa by the sea in Alanya of 200 m².

Examples of properties in Turkey

Turkey, Izmir

$1,000,000+

Two-floor villa with a swimming pool near the sea

140 m²

3

3

Turkey, Istanbul

$280,000 — $2,020,000

Furnished apartments in a prestigious area of Istanbul

55 m² — 200 m²

1—3

1—3

Turkey, Istanbul

$124,000 — $510,000

Apartments and commercial premises in a premium residential complex

40 m² — 162 m²

2—3

1—2