Turkish Citizenship by Investment: Benefits, Property Options and Bank Deposits
First things first. According to the Turkish Citizenship by Investment (CIP), investors should be able to prove that their real estate is worth the qualifying $250,000. Experts advise to consult a licensed professional for an independent valuation before acquiring the property.
Which are the best places in Turkey for property investment?
Apparently, Istanbul comes on top of the list. It’s the largest city and the largest property market in Turkey. The now-rural area near Istanbul’s newest airport is one of the latest promising findings. This haven is bound to become the busiest airport in Europe, ready to service 200 million passengers per year once it’s unveiled in 2025. Investing into nearby development projects may be a very timely and rewarding opportunity.
The capital Ankara has also drawn a considerable number of investors. Other cities like Izmir have grown in real estate rates in the recent years. On the cost, Antalya remains an obvious choice for many investors due to its developed infrastructure.
In fact, property is not the only qualifying option. Investors have revealed increased interest in the $500,000 bank deposit scenario as well. It’s a very simple procedure: just put the money in the bank and hold it for the term of three years. This is a route that has particularly attracted many Chinese investors.
The Turkish CIP recruits more and more applicants for a number of reasons. The country’s E2 Treaty membership, potential Schengen zone access, the growing economy (currently, #17 globally) and the right exercised by Turkish citizens to set up business in the EU.
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