In September 2018, the Turkish government announced changes to its citizenship programs, sometimes called the Turkey Golden Visa. These changes mean buyers can get Turkish citizenship and passports for as little as $400,000, down from the previous $1,000,000. This has made the program one of the most affordable and attractive citizenship initiatives in the world. Since then, thousands of investors have acquired citizenship by purchasing real estate, and Green Elf Properties has helped many.
You can become a Turkish citizen if you buy a home in Turkey worth at least $400,000. Your spouse and children under the age of 18 will also be granted Turkish citizenship with your application. Those who are successful in their application will have Turkish citizenship forever and their children will be born as citizens. Turkey allows dual citizenship and allows you to hold multiple citizenships alongside your Turkish citizenship.
1 – Get a real estate investment of at least 400,000 USD. cheapest option
2 – Make a fixed capital investment of at least 500,000 USD in Turkey
3 – Deposits in foreign currency of at least 500,000 USD or equivalent to a Turkish Bank
4 – Purchase Government Bonds of at least $500,000 or equivalent foreign currency
5 – Creating employment for at least 50 people in Turkey as approved by the Ministry
6 – Minimum 500,000 USD for real estate investment fund or venture capital investment fund
– Applicants must purchase a property worth at least USD 400,000. It need not be a single unit, it can be multiple units with the provisions of the regulation.
– Applicants must hold the real estate they purchased for at least 3 years. This 3-year commitment must be recorded as an annotation in the Title Deed and/or Notary Approved Sales Contract.
– Official Valuation Survey must be made by the authorities announced by the Banking Supervisory Board. The valuation report must be set at a minimum of $400,000.
– The purchase price must be paid to the seller via bank transfer and supported by bank receipts. This proves that the transaction was done.
– The officially declared value of the investment must be at least $400,000 at the time of transfer of ownership at the Notary Approved Sales Contract and/or the Land Registry Office.
– The goods within this scope should not be registered in the name of any foreign natural person, including the applicant’s spouse or children. Real estates transferred by the spouse or children of the applicant after 12.01.2017 are not within the scope of the regulation.
– If the applicant purchased a home using a mortgage loan, the value of the mortgage will be deducted from the value stated in the Official Valuation Survey.
– The application will be sent to the Foreigners Department of the Ministry of Interior, General Directorate of Population and Citizenship Affairs, through the Ministry of Environment and Urbanization Land Registry Office.
Step 1 – Get Tax Registration Number
Step 2 – Open a Turkish Bank Account
Step 3 – Find property for sale
Step 4- Buy the property in Turkey
Step 5 – Get the Certificate of Conformity
Step 6 – Application for Residence Permit in Turkey
Step 7 – Apply for Turkish Citizenship
Tax Registration number can be obtained from any tax office in Turkey. Original Passport and Photos are required.
Documentation of transactions will be required at the purchasing stage. Original Passport and Tax Registration Number are required. An Official Document (such as a Public Bill) showing your current address is required to open a bank account.
Total Value must be $400,000 or equivalent in Turkish Lira (can be single or multiple units). The Real Estates that have been given a Settlement License and whose Floor Easement or Deed are ready must be Completed or Close to End. Must be eligible for the Official Valuation Surve
Use Wire Transfer and document the transaction with a receipt. Get a Land Registry and/or Notarized Sales Contract with the annotation “3 Years Not Sold” as part of the requirement. After three years, you can sell your property investment in Turkey as your citizenship is guaranteed forever.
Provide the Official Valuation Survey and submit the Bank Transfer Receipt. Apply to the Ministry of Environment and Urbanization.
Gather the required Documents before applying for your residence permit. Apply to the General Directorate of Migration Management. Residence permit is an important step in obtaining your citizenship and final passport.
Gather required Documents before applying for citizenship. Apply to the General Directorate of Migration Management.
Fabulous climate – Many Turkish cities offer 300+ days of sunshine. For example, investing in a property in Bodrum guarantees a sparkling, attractive and airy lifestyle. Investors in Antalya can enjoy beaches and skiing in the same day. British investors can enjoy the world-famous Blue Lagoon beach in Fethiye real estate.
Strategic location – Turkey is strategically located between East and West, becoming an effective bridge between the two. Therefore, Turkey offers unique opportunities in the business world as well as visa-free travel. Istanbul real estate investors can benefit from an accessibility gate.
Ideal for families – those who move to Turkey with their families often comment on how hospitable and friendly the Turks are. Turkey is a welcoming country to foreigners and expats with some of the best international schools around.
Health in Turkey – Rising as one of the world’s leading health destinations and medical tourism, Turkey offers health services.
Unbeatable – and extremely affordable when compared to other countries in the world.
Food in Turkey – Do we need to say more? Turkish cuisine is known worldwide for its unique flavors and rich content. From daily fresh vegetables to classic kebabs and desserts, dining in Turkey is a delight in itself.
Excellent value – With the Turkish lira depreciating, it’s time to buy real estate in Turkey before prices go up. Invest in Turkey and you can get a villa or a rising city center apartment in Istanbul to meet your $400,000 need in certain cities.
Regional powerhouse – ahead of countries in the periphery, Turkey is an EU Candidate Country, a G20 and NATO Member. Turkey’s future looks positive.
In Green Elf Properties’s experience, it normally takes 2 – 4 months for our clients to complete the process of obtaining a Turkish Citizenship by Investment program. This process is much faster than in other countries in the world, which can take years.
Yup. If you buy a property worth $400,000, you can get citizenship and a Turkish passport for yourself, your spouse and your children under 18. Children over the age of 18 will need to purchase $400,000 worth of real estate in their own name.
No. You do not need to live in Turkey to protect your citizenship and passport. There is no minimum number of days you must stay in Turkey per year. Your citizenship is yours for life.
No. Since Turkey allows its citizens to hold dual citizenship and passports, you do not have to give up your citizenship to become a Turkish citizen.
While other citizenship programs and countries require you to pass the language test in order to obtain a passport, Turkey does not want this. You do not need to learn Turkish to apply for a passport. However, if you choose to live in Turkey permanently, it is highly recommended that you learn the basics of the language so that you can easily integrate into life within the country.
Yup. Those who apply for citizenship and obtain it are free to work in Turkey without the need for a work permit. Citizenship makes it easier to work in Turkey.
UPDATE: From January 2022, buyers will no longer be able to deposit money directly into the seller’s account. Instead, foreign buyers now need to send their funds to a Turkish bank before purchasing a property. The bank will then convert the currency to Turkish lira for purchase at Turkey’s Central Bank rate.