• 03.01.2023

Second citizenship

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Buying a property is one of the five options for obtaining Turkish citizenship. It's the most preferred option because of the high profitability. Prices for Turkish real estate have increased by 2.5 times in 6 years, and leasing provides additional income from 5 to 15% per annum. Turkish citizenship can be obtained by an investor for the purchase of real estate in the amount of $ 400,000 from a Turkish citizen or company. Since May 2022 the minimum investment amount increased from $250,000. 

Any property type will do - resale (property on which the title of ownership has already been registered) or new build (residential building under construction or commissioning), residential or commercial, development share or land other than already used to obtain citizenship. There is no ban on acquiring of real estate by program participants, but its new owner will not be able to obtain a Turkish passport.

$400,000 - Minimum real estate investment for citizenship.

It is not necessary to buy one property for the entire amount. You can buy several with a total value of more than $400,000.
Calculations under the program are made in US dollars due to the volatility of the national currency. In 2021, the Turkish lira almost doubled against the US dollar. Calculations in Turkish lira led to the fact that the cost of real estate in US dollars when applying for citizenship turned out to be less than necessary. The value of the property was fix parities of currencies in lira at the time of purchase. By the time the application for citizenship was filed, the lira exchange rate was falling and, when the lira was converted back into dollars, the value of the property turned out to be less than necessary.
The conversion of the program to settlements in dollars made obtaining citizenship predictable and protected the interests of investors. Our specialists will explain everything to you in detail about the conversion of settlements into dollars.

It's necessary for the investor to own the property for at least three years. Afterwards he can sell it. The program prohibits the sale of the property to the previous owner, including development company or constructor. Violation of the rules for the sale of real estate threatens with deprivation of citizenship.
Turkish citizenship together with the investor can be obtained by his family. The investor must be over 18 years old, with legal income, no outstanding convictions, no violations of the Turkish visa regime and no dangerous diseases - HIV, hepatitis, tuberculosis.

The family includes the spouse of the investor and children under 18 years of age. The second spouse and children can be included in the application along with the investor or added to the program later. The investor's parents and children over 18 years of age can obtain a residence permit in Turkey under the terms of the program.

The expenses of a family of four under the Turkish citizenship program for real estate starts from $ 419,488.

Turkish citizenship costs for a family of four purchase of real estate - minimum $ 400,000

Taxes and fees when buying real estate -  about $16,000

State fees under the citizenship program - around $ 3488

Total - $419,488

An investor is not required to live in Turkey either before or after obtaining citizenship. In addition, you do not need to pass language and history exams or serve in the army - this is one of the advantages of the Turkish citizenship program for investment.

If you have any questions, please contact us!


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