Since the Turkish government made it possible to get Turkish citizenship by real estate investment in 2017, the real estate sector in Turkey has gained unprecedented popularity amongst foreign investors.
The necessary amount of investment in Turkey for citizenship was reduced from $1.000.000 to $250.000 in 2018, further bolstering the popularity of this method. Recently, though, the conditions for obtaining Turkish citizenship by property investment were updated following a decision made by the government, making foreign investors wonder the further details about the process.
The Regulation on the Sale of Housing to Foreigners for Obtaining Turkish Citizenship Has Been Updated
Until a few months ago, it used to be the case that, to obtain Turkish citizenship, 250.000 USD worth of investment needed to be made in Turkish property while also fulfilling several conditions. Although most of the conditions remain the same, the amount of necessary investment has increased from $250.000 to $400.000 according to a new decision made by the cabinet in April.
Naturally, Turkish citizenship, real estate, and whether such a venture is still profitable became a hot topic of discussion amongst foreign investors around the world.
What Has Caused This Change?
To understand the rationale behind this change, it is necessary to remind the decision made by the cabinet in 2018 once more. The citizenship process that would cost around a million was reduced to $250.000 to incentivize the foreign investors.
This strategy has proved to be remarkably successful as applications have soared in a brief time. The government keeps encouraging new investors as the number of $500.000 is still much less than the original price of a million. Thus, it would be more accurate to call this change in numbers an adjustment rather than an increase.
What Are the Benefits of Being a Turkish Citizen?
Becoming a citizen of Turkey might seem like a complicated process, but the steps you need to follow to achieve this goal are quite manageable. The advantages of such a venture are significant in number and well worth the effort. Some of the benefits are as follows:
- Not only you but also your loved ones can obtain Turkish citizenship as the offer extends to your family.
- Turkey homes are symbols of family and status. You are likely to receive more respect and hospitality by being a homeowner in Turkey.
- You get access to numerous public services such as public health, public transportation, and public education.
- You invest in your families by extension and future by having dual citizenship.
Is It Still Worth Getting Turkish Citizenship by Property?
In Turkey, dollars have been gaining in value since 2018. So, while it might seem counterintuitive at first glance, you get more value out of the dollar-based investment you make in Turkey. There is also the fact that you do not lose any money by investing in real estate, as the house you buy for getting citizenship belongs to you during and after the process.
Do Other Countries Also Offer Citizenship by Real Estate Investment?
Many parts of the world also offer citizenship by real estate, besides Turkey property citizenship and real estate investment. The necessary amount of investment varies from country to country. Some governments have put forward additional conditions such as living in the country for a certain number of years or being part of a group of professions.
Why in Turkey Property Investment Citizenship is Better Than Other Countries?
When foreign investors think about Turkish citizenship, real estate is often the first option that comes to mind. While this alone is a good indication of the popularity of Turkey in this regard, it is more important to mention the fact that Turkey property investment citizenship and profits come hand in hand.
Given the circumstances, most other countries have stricter requirements and higher amounts of necessary base investment for obtaining citizenship, making Turkey a relatively better option.
How Can I Become a Turkish Citizen by Investment?
The recent change in the process has created an atmosphere of foreign investors and caused many to wonder about citizenship price 2022 conditions. It is commonly known that You can get Turkish citizenship by investment, but there is a sizable amount of misconceptions about the details of this process floating online. Some of the most frequently asked questions are as follows:
Can You Buy Turkish Citizenship?
While obtaining Turkish citizenship by property investment resembles a direct transaction, you do not purchase an ID by paying a set amount of money. You do not lose money as the investment you make still belongs to you after the process.
Turkish Citizenship by Investment
While it is correct that you can obtain Turkey citizenship by investment, different conditions apply for various kinds of investments. If you invest in a trading company in Turkey, you cannot take advantage of the aforementioned method to gain citizenship.
Turkish Citizenship by Buying Property
Getting Turkish citizenship by property purchases is possible in most contexts. However, you should keep in mind that not every type of property counts as a valid tool for investment. For example, you may buy the rights of a book written by a Turkish author, which counts as intellectual property. Thus, you actually cannot guarantee Turkey citizenship by property investment.
How to Be a Citizen of Turkey
Different terms and conditions may be confusing at first sight, but the requirements to become a Turkish citizen are quite straightforward. You can obtain Turkey citizenship by real estate investment of $400.000 worth and by fulfilling several other conditions.
Looking for Help?
You might have already decided to invest in real estate and apply for Turkish citizenship but are likely to notice the substantial number of options to choose from. If you feel lost in the process or want professional help, you are encouraged to follow this link to our website.