Ten Thousand Applicants gain Turkish Citizenship by Investment

The Turkish Citizenship by Investment programme is a relatively new option and often bypassed by investors opting for programmes within the European Union instead. But despite competition from its EU neighbours, the Turkish programme has achieved huge success in the last 12 months.

In a bid to help revive the Turkish property market, last year the government reduced the programme’s minimum real estate investment threshold from $1,000,000 down to $250,000. Since this significant price reduction, the country has seen a dramatic increase in applications and has subsequently issued citizenship to more than 2,600 main applicants, almost 10,000 applicants in total, including family members. Applicants are from all over the globe but some of the main nationalities applying have been from Iraq, Afghanistan, Palestine, Egypt and Pakistan, all located close by to Turkey.

So why would an investor consider Turkey?

• Whilst Turkey is not yet a member of the European Union or the Schengen zone, Turkish passport holders already benefit from visa-free travel to 125 countries worldwide. This list includes countries such as Japan, Malaysia, Singapore and most of the Caribbean Islands and South America. These are all popular destinations with many business people.
• Turkey is also privileged to hold an E2 Visa Treaty with the USA, meaning for an additional business investment, Turkish citizens can apply for residency in the USA with the maximum stay terms. This would be a cheaper and faster route than applying through the EB5 programme.
• Turkey is centrally positioned between Eastern Europe and Western Asia, making it a convenient location for many, as reflected above.
• Turkey’s main religion is Islam, which fits nicely with many Muslim investor’s cultural needs.

The Turkish Citizenship by Investment programme requires applicants to make one of the following investments:

• Real Estate Investment $250,000
• Bank Deposit $500,000
• Capital Investment $500,000

The process is very fast and citizenship can be expected within 3-6 months following submission of the application. To discuss this programme with one of our advisers, please get in touch.