Is it possible to increase the limit for obtaining Turkish citizenship from $400.000 to $600.000?

News is circulating about the possibility of an increase in the minimum requirement for obtaining Turkish citizenship in exchange for purchasing a property in Turkey from $400.000 to $600.000, according to what was reported in Turkish media. The decision will also be implemented according to expectations at the beginning of the new year 2024.

Is the Turkish citizenship law subject to amendment and change?

The Turkish citizenship granted by the Turkish government to foreign investors when buying a property in Turkey is exceptional. It is a grant from the Turkish government with the aim of encouraging foreign investment in the country, meaning that this law can be changed or canceled at any time, and it happened previously that the Turkish government changed this law and reduced the minimum amount for obtaining Turkish citizenship in return for real estate investment from $1 million to $250.000 in September of 2018, and then raised the minimum from $250.000 to $400.000 in June of 2022.

Investing in agricultural lands and construction lands in Turkey does not qualify the owner to obtain Turkish citizenship

A new decision was issued by the Presidency of the Republic of Turkey stipulating the exclusion of agricultural lands and construction lands from real estate properties that qualify their buyers to apply for Turkish citizenship in exchange for real estate investment. The new condition is the property must be built, in addition to the requirement that its value be no less than $400.000.

Based on this amendment, and after the issuance of this decision, the foreign investor will not be able to apply for Turkish citizenship in exchange for purchasing unbuilt real estate, meaning that the land is no longer a property eligible to obtain Turkish citizenship, whether it is agricultural land or construction land.

It is worth noting that in the past, the law permitted the granting of Turkish citizenship through ownership of land under certain conditions, such as preparing a construction project for land suitable for construction and preparing an agricultural project for agricultural land.

Conditions for obtaining Turkish citizenship through real estate investment in Turkey in 2024

• Purchasing a property or group of properties on Turkish lands worth at least $400.000.
• Maintain the property and not sell it for at least 3 years.
• The person wishing to buy real estate and obtain Turkish citizenship must be a holder of one of the nationalities that are allowed to own and buy real estate in Turkey. This law includes most nationalities with the exception of the following nationalities: Syrian, Armenian, Cuban, Nigerian, and North Korean.
• The property must be officially registered in the name of the foreign investor.
• The property must be suitable for housing or investment.
• The property must be free of any mortgage or lien.
• Submitting the foreign investor’s latest criminal record document from his country of origin during the past six months.

Luxury Signature real estate company helps you obtain Turkish citizenship through real estate investment in Turkey within just three months, under the supervision of a professional legal team over all procedures and operations, from the first stage until receiving the passport.