Turkey Citizenship By Investment:
The Ultimate Guide 2023

Looking to obtain Citizenship By Investment in one of the world’s most vibrant and internationally sought after travel destinations? Since its launch in January of 2017, the Turkey Citizenship By Investment (CBI) Program has become one of the top-selling programs of its kind in the world — despite the Turkish passport not offering visa-free access to the EU.

And the reason?

Boasting an affordable minimum investment price tag of $400,000 and minimal government processing fees, a three-year lock-in period and unrivalled value-for-money property, the Turkish CBI is increasingly in demand among foreign investors the world over.

Find out more about the program below, or contact us now for more information.

Key Country Facts

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Turkey is not the only option for acquiring citizenship by investment…

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Citizenship By Investment Program Comparison

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The Turkey Citizenship By Investment Program at a glance

Previous iterations of the Turkish citizenship program had far higher investment requirements and consequently never gained significant market traction. In 2018, however, the picture changed dramatically. Presidential decree 418, “Regulation Amending the Regulation on Implementation of Turkish Citizenship Law”, was issued on December 7.

At the time, the decree meant that foreign investors would have various more affordable investment options to gain citizenship in Turkey, including:

  •   Property Investments: $250,000 (previously $1 million, but subsequently increased to $400,000 in June of 2022.)
  •   Local Bank Deposits: $500,000 (previously $3 million)
  •   Fixed Capital Investments:  $500,000 (previously $2 million).

The 2018 changes had brought the program pricing in line with that of many popular Golden Visa (residency) programs — and gave it a competitive advantage.

By as early as June 2020, over 9,000 primary applicants and more than 25,000 dependents obtained Turkish citizenship via the program.

This performance made it the most popular program of its kind globally – and by quite some margin.

During the period March to May 2020, during the height of the Covid-19 pandemic, Turkey’s Interior Ministry approved an average of more than 1,300 main applicants per month, raising an estimated $17 million per day in the process.

Additionally, a relative over-supply of real estate, combined with the rapid devaluation of the Turkish lira, has made property in Turkey super cheap.

Consequently, foreign investors were flocking to popular vacation destinations such as Bodrum and Antalya – and Istanbul, in particular, in their thousands.

But since the 2022 price increase to $400,000, demand for the program has cooled somewhat.

Moreover, the Turkish authorities also announced a raft of changes to the program’s rules, effective as of January 1, 2023. These included the following:

  • Citizenship By Investment applications filed on the basis of promissory sales contracts are only eligible for properties with a construction servitude or a condominium ownership structure.
  • Investors can now buy any number of properties, as long as the total assessed value of the properties exceeds $400,000. Importantly, however, all of the properties must be purchased under a single sales contract.
  •  The rules regarding jointly owned properties became more restrictive. 
  • Property valuations cannot be obtained longer than three months before the notarization of the sales contract.
Turkey CBI Changes 2023

Given that the Turkish passport does not grant the bearer visa-free access to the Schengen Area or the UK, the program’s meteoric growth has confounded industry commentators across the board.

Yet in combination, the country’s unrivalled value, low cost of living, natural beauty and strategic location have proven to be massively popular among a far broader audience than Middle Easterners only.

As a result, Turkey has become somewhat of a call option among CBI programs: The country is already super livable and cheap (whereas Caribbean countries are not).

And considering its increasing political and economic clout, chances are that its passport could become a better travel document in the future.

10 Reasons to choose Turkey for Citizenship By Investment

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At A Glance...

This comparison sheet will give you a birds-eye view of the most important things you need to know about each citizenship-by-investment program…

Citizenship By Investment Program Comparison

This comparison table will show you…

It could potentially help you save tens or even hundreds of thousands of dollars by picking the best passport for your personal situation at the lowest price…

Who is the Turkish CBI program for?

While the program is highly popular among Middle Easterners, it’s also a great option for Americans, Europeans, Australians, Russians and investors from many Far Eastern countries as well.

As an added benefit, Turkey recognizes dual citizenship, so you don’t need to give up your native citizenship or any of the privileges you currently enjoy in order to gain second citizenship in Turkey. 

Program investment requirements

As of March 2021, applicants under the Turkish Citizenship By Investment Program must meet one the following investment requirements:

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Property investments starting from $400,000. Fees from $10,000 (excluding 18% VAT). Contact us now for more information.