Turkey is one of the leading investment destinations in the world, offering attractive opportunities for foreign investors to obtain citizenship through real estate investment. This opportunity reflects the growing interest in Turkish citizenship due to the country’s strategic location linking the East and West, its rich cultural environment, and its growing economy. In this article, we will explore how to choose the right properties for obtaining Turkish citizenship, focusing on recent examples and statistics.

Requirements for 0btaining Turkish citizenship through real estate investment for 2024:

• Purchase a property or group of properties in Turkey with a minimum value of $400.000.
• Maintain ownership of the property and not sell it for at least three years.
• The prospective property buyer seeking Turkish citizenship must hold a nationality that is permitted to own and purchase real estate in Turkey. This law includes most nationalities, except for Syrian, Armenian, Cuban, Nigerian, and North Korean.
• The property must be officially registered in the name of the foreign investor.
• The property can be ready or under construction.
• The property must be free of any mortgages or encumbrances.
• Submit a recent criminal record document of the foreign investor from their home country, issued within the last six months.

Official documents required for obtaining Turkish citizenship through real estate investment:

• Bank receipt for the acquired property – must be stamped and signed by the bank.
• Currency Exchange Certificate (Doviz Alim Belgesi - DAB).
• Title deed (Tapu).
• In cases where citizenship is obtained with a notary contract, the original signed notary contract.
• Biometric photos (5x6 cm): 8 photos for the investor, and 6 for the spouse and children – images can be sent in PDF format and we can print them.
• Copies of passports for all applicants.
• Tax identification number for the investor only.
• Entry stamp of the investors into Turkey.
• Birth certificates for the investor, spouse, and children, certified or stamped by the Ministry of Foreign Affairs and the Turkish consulate – duplicate copies of these documents can be provided, but the certifications/stamps must be original.
• If the investor/spouse has a child from a previous marriage, the document stating that the other parent grants permission to apply for citizenship must be provided. This document can be prepared at a notary and then certified or stamped by the Ministry of Foreign Affairs and the Turkish consulate.
• Power of Attorney for the investor and spouse – we provide our clients with a power of attorney template that can be submitted to Turkish notary offices, the Turkish consulate, or a foreign notary. Please consult with us before submitting a power of attorney.
• Criminal record – must be obtained from the country of origin for both spouses and must be certified or stamped by the Ministry of Foreign Affairs and the Turkish consulate.

Steps to select the right property for obtaining Turkish citizenship

1. Determine Your Budget:

The first step in the property purchasing process is to accurately determine your budget, which must be no less than $400,000 according to current regulations. Adhering to the minimum threshold ensures your eligibility for citizenship.

2. Choose the Right Location:

Choosing the right location is crucial in real estate investment. Major Turkish cities like Istanbul, Ankara, and Izmir attract many investors due to their developed infrastructure and availability of essential services. For example, statistics show that 752 homes were sold to foreigners in Istanbul in July alone. Much of the foreign real estate investment in Turkey is concentrated in Istanbul due to its diverse lifestyle and excellent business opportunities.

3. Verify Legal Documents:

When purchasing a property, ensure that all legal documents are clear and up-to-date. This includes verifying the title deed and ensuring that the property is not mortgaged and has no outstanding debts or legal issues.

4. Select a Property that Suits Your Lifestyle and Investment Goals:

The property should meet your needs, whether you intend to live in it or use it as an investment portfolio. Some investors prefer residential properties with high rental yields, while others focus on luxury homes or projects in emerging urban areas.

Real examples and recent statistics

The Besiktas area in Istanbul is an example of a highly popular location among foreign investors. According to recent reports, property prices in this area have increased by more than 20% over the past year due to rising demand and excellent infrastructure.

On the other hand, the city of Antalya has experienced a surge in foreign interest, recording over 10.000 real estate sales to foreigners in the past year, making it the second most popular city after Istanbul for foreign investment.

What are the advantages of obtaining Turkish citizenship?

• Upon obtaining Turkish citizenship, you will hold the Turkish passport, which is ranked among the strongest and best passports globally. It is valid for 10 years upon receipt and can be renewed for life.
• The Turkish passport ranks 48th globally according to the Guide Passport Index, allowing access to 72 destinations without a visa.
• Although Turkey is not a member of the European Union, the Turkish passport allows its holder to travel visa-free to many European countries, facilitating mobility across nations.
• Enjoy full citizenship rights, including the right to run for office and vote in various Turkish elections.
• Turkish citizenship can be granted to your spouse and children under 18 years old.
• You can retain your original citizenship without being forced to relinquish it.
• Access to free healthcare in all state hospitals and affordable rates in private hospitals.
• Free education and access to scholarships and educational opportunities in Turkish public and private schools and universities.
• Benefits from the retirement system, either by reaching the age of 60 or after completing 25 years of work.
• With a growing economy, there is a significant potential to secure new jobs across various fields, whether in Turkey or abroad.
• Turkey is a country rich in diverse cultures, providing a conducive environment for social and cultural diversity.

Can I obtain Turkish citizenship by purchasing more than one property?

Yes, you can purchase multiple properties as long as their combined value exceeds $400.000. Alternatively, you can buy a single property, provided its value is more than $400.000.

Can I sell the property after obtaining Turkish citizenship?

The property cannot be sold until three years after the purchase date. You are required to sign a commitment not to sell the property for three years, and this commitment is recorded in the title deed (Tapu).

Additional investment tips

1. Collaborate with Reliable Real Estate Agencies: It's crucial to work with reputable real estate agencies to ensure accurate information and avoid fraud. At Luxury Signature, we strive to assist our valued clients by offering free real estate consultations, providing all necessary details about properties, and delivering the best real estate offers that meet the criteria for obtaining Turkish citizenship.
2. Visit the Property: Before completing the purchase, visit the property yourself to verify its description and ensure it meets your expectations.
3. Plan for the Future: Consider the potential for future growth in the area where you are purchasing. Property value can increase as infrastructure develops.