The Turkish residency via real estate permit is a highly lucrative option for global investors, with zero investment thresholds and exclusive resort properties available from as little as $30,000.
Prospective investors are flocking to take advantage of the benefits available from this highly affordable initiative.
In this guide, the Astons team outlines the advantages of Turkish residency and the terms on offer around this innovative immigration programme.
Obtaining Turkish Citizenship Through Property Purchases
The terms of a standard Turkish real estate investment residence permit are reasonably straightforward:
- Permits require the applicant to reside in Turkey for at least six months of every year, with non-compliance resulting in cancellation.
- Following five years of residency, applicants have the right to apply for citizenship. This process requires a pass mark on a Turkish language exam.
As a more flexible alternative, global investors can look at another route, permitting an expedited citizenship process and including those individuals who cannot, or do not wish to, live in Turkey for the requisite period.
Entry thresholds for this premium citizenship route require an investment minimum of $250,000 and generally require a two-month waiting period for new applications.
Benefits of Turkish Citizenship Status
There are multiple benefits on offer:
- Robust investment returns, with properties able to be sold or leased after three years.
- The simplicity of a stress-free, straightforward application process.
- Advantages around tax efficiencies, with profits and capital generated outside of Turkey exempt from revenue declarations.
- A speedy citizenship system with all family members receiving formal citizenship in just two months.
Turkish passports entitle recipients to freedoms of movement.
Still, they have other lucrative benefits to investors, including the right to travel visa-free to over 110 nations, including South Korea, Japan and Singapore.
Successful investors may move to the UK within a short time frame, start a new business, and consider transitioning to the US, with the allowances of the E-2 agreement making it easier for citizens to relocate to the United States and launch a company.
For more details about these benefits, please visit the Astons Turkish Citizenship by Investment information pages.
Selecting a Viable Turkish Property Investment
There are countless real estate options for investors in Turkey, ranging from:
- Compact studio apartments
- Luxurious family villa estates
- Apartments and penthouses along the coast
- Summer residences in Bodrum, Fethiye and Antalya
One of the positive aspects of Turkish property investment is the stability of rental incomes, with reliable revenues available and a balanced economy considered one of the 20 largest worldwide.
Turkish properties appreciate by around 10% year on year, with some fluctuations between regions.
Istanbul remains one of the most sought-after investment locations, with property prices increasing at pace, extending to the outer suburbs with residential housing, premium amenities, and growing demand.
With a buoyant local rental market and interest throughout the year, Istanbul is protected from seasonal variations.
Don't hesitate to contact the Astons team for exclusive access to properties throughout Turkey with virtual tours or live viewings available.
The Turkish Citizenship by Investment Process
Investors have several routes to secure Turkish citizenship, each applicable to different circumstances and aspirations.
- Real estate: the most popular option is to purchase real estate valued at $250,000 or above. Owners can rent that property to generate income and sell it after three years to realise the investment.
- Business startups: investors may register a new business in Turkey, guaranteeing 50 local jobs in the first three years. This application process requires approval from the Ministry of Labour and Social Security.
- Cash investments or government bonds: the third option is to invest $500,000 in a Turkish business with Ministry approval or deposit the same value in a Turkish bank for at least three years.
If any of these citizenship routes appeal to your immigration aspirations, the first step in the pathway to obtaining an expedited Turkish passport is to contact the Astons specialist team.
Our friendly consultants deliver a comprehensive service, helping to identify suitable properties, complete the documents, collate your citizenship application, and submit the final forms with full assistance until receipt of your second passport.
Applicants have the right to add their spouse and children, with specific details around eligibility available on request from Astons.
There are some prerequisites, such as opening a bank account in Turkey and completing legal documentation, all of which we can provide support with.
Initial applicants receive a residence permit within a short timeframe and may apply immediately for full citizenship status, with no obligations to travel to Turkey in person.
Once the final passport is issued, investors enjoy all the privileges of being a formal Turkish citizen, with options to relocate to the UK or US facilitated through the special visa routes available.
Please visit our Citizenship by Investment knowledge bank for information about comparable visa programmes, or get in touch with Astons to begin your application.