Türkiye: citizenship by investment

Türkiye grants citizenship on an exceptional basis to foreigners who have made an investment of a set size in the country. The basis is Article 12 of Citizenship Law No. 5901; the decision is taken by the President of Türkiye. The published programme conditions contain no restriction by the applicant's nationality.

Investment options

The real estate threshold was raised from USD 250,000 to USD 400,000 from 13 June 2022. For each option a specific state body attests that the condition has been met.

Real estate: how the deal works

• When applying to the land registry, the buyer states that the property is being acquired to obtain citizenship and undertakes not to sell it for three years. An annotation to that effect is entered on the title deed.
• The document set includes a certificate from the municipality on the current market value of the property.
• After registration a certificate of eligibility is issued, with which the applications for a residence permit and for citizenship are filed.
• Residential and commercial property and land can be bought wherever private ownership is allowed. Property in prohibited military zones and military security zones cannot be acquired.

Payment: only through a Turkish bank

The rules prescribe the route of the money directly: before the transaction the foreign currency amount is sold to a bank operating in Türkiye, and that bank sells it to the Central Bank. Paying the seller in foreign currency directly, bypassing the bank, does not meet this procedure. The first practical step is therefore opening an account with a Turkish bank and passing its checks.

The bank checks the origin of the funds under its own rules. Source-of-funds documents are prepared before the transfer, not after it.

Family

Together with the investor, citizenship can be obtained by the spouse and by minor or dependent children of the investor or the spouse.

Residence without citizenship

Foreigners who acquire property in Türkiye are granted a renewable short-term residence permit under Law No. 6458. A residence permit is not required for the purchase itself.

What the passport gives and does not give

• A Turkish passport does not give visa-free entry to the Schengen area: Turkish citizens need a visa.
• Turkish citizenship does not lift the EUR 100,000 limit on deposits of Russian citizens in EU banks: the exemption applies only to holders of citizenship or a residence permit of EU, EEA countries and Switzerland.
• A Russian citizen must notify the Russian Ministry of Internal Affairs of a second citizenship within 60 days.

What to check before the deal

• The value of the property in the documents is at least USD 400,000 on the transaction date, and the property is not in a zone closed to foreigners.
• A Turkish bank is ready to open an account and accept the transfer, and the list of source-of-funds documents has been obtained in advance.
• The period for which the money is tied up: three years with no right to sell or withdraw.
• The decision on citizenship is taken by the President; the official source gives no processing time.

Sources

1. Invest in Türkiye: acquiring property and citizenship
2. Turkish Ministry of Labour and Social Security: exceptional Turkish citizenship
3. Konya Development Agency: text of the regulation on citizenship for investors
4. European Commission: FAQ on Article 5b of Regulation 833/2014
5. Advokatskaya Gazeta: notification of a second citizenship or residence permit (in Russian)

This material is for reference only and is not legal, tax or investment advice. Programme terms change: verify them against the primary source before deciding.