Insider insights suggest that Turkish authorities are about to increase the investment threshold you shall meet to obtain citizenship by investment in Turkey. It is anticipated that starting in 2024, non-residents will be required to invest at least USD 600,000 to qualify for the Turkish citizenship by investment program. Presently, the investment threshold stands at USD 400,000.
How to get citizenship by investment in Turkey: key insights
As of the time of writing, this information is not verified. No official statements from the Turkish government authorities regarding any modifications to the existing CIP have been released yet. Nevertheless, local newspapers and several prominent news agencies in Turkey have already reported that a plan to raise the qualifying investment amount for the program may be implemented soon.
According to immigration experts and other specialists in this field, the investment threshold in Turkey is likely to go up in H1, 2024. They emphasize that the Turkish citizenship by investment program enjoys high demand, hence it is hardly surprising that the authorities are interested in attracting more foreign investments.
Launched in 2017, the Turkish citizenship by investment program aimed to catalyze local economic growth, create job opportunities, and attract Foreign Direct Investment (FDI). The procedure of obtaining local citizenship by investment is widely regarded as one of the most efficient and straightforward ways to get a second citizenship and passports for investors regardless of where in the world they come from.
Originally, the investment threshold set by the Turkish government amounted to USD 1,000,000.
In 2019, the CBI program in Turkey saw a reduction in the investment requirement. To enhance its appeal to foreign investors, the government dropped the investment threshold to USD 250,000. However, come April 2022, it increased the investment amount for real estate investors willing to get citizenship in Turkey under the local CIP up to USD 400,000.
Back in 2022, when authorities in Turkey announced the increase in the real estate investment threshold for program participation, they concurrently implemented a transitional period. During this one-month window following the official statements that amended the rules for obtaining economic citizenship non-residents were allowed to apply for the citizenship program in Turkey with an investment of USD 250,000.
Experts believe the authorities will follow the same approach providing for a transitional period this year. After that, the investment requirement may go up to USD 600,000. However, the information is not confirmed yet. So, it makes sense to apply for economic citizenship in Turkey as soon as possible while you can take advantage of better conditions.
In 2022, after the statement on the investment threshold increase was released, property prices in Turkey rose significantly in a matter of days. As a result, prices for real estate meeting the CIP criteria surged by a record-breaking 15%. This is yet another reason to apply for your citizenship by investment in Turkey without putting it off till tomorrow.
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Higher investment requirement for Turkish residency
With changes in the Turkish economic citizenship (otherwise known as citizenship by investment) program anticipated, regulations for obtaining residency in Turkey have been updated already. Last year, on October 16th, the Turkish authorities announced that the required investment amounts making you eligible for Turkish residency would be increased.
Under the rules in force previously, these were the amounts that foreign investors about to obtain residency in Turkey needed to pay to acquire their residence permits:
- USD 50,000 for properties in small towns
- USD 75,000 for properties in large cities.
In the fall of 2023, authorities enacted legislation that allowed foreign individuals to apply for economic residency in Turkey by making real estate investments of at least USD 200,000. This provision applied to small towns as well.
Besides, the Turkish Ministry of Internal Affairs decided to limit the number of districts in popular provinces participating in the program to 1000. This decision was motivated by the rising numbers of foreigners in certain Turkish regions.
Immigration experts believe that these changes to the residency program in Turkey may indicate potential amendments to the rules regulating Turkish citizenship by real estate investment in the near future.
5 real estate projects for Turkey’s citizenship by investment program
The intention of Turkey to revise the real estate investment threshold signifies the nation’s economic progress and a rising demand for Turkish passports. The planned investment amount increase by USD 200,000 implies the authorities’ commitment to attract substantial Foreign Direct Investment (FDI) to the country.
In this situation, if you aim to apply for Turkish citizenship soon (and in any case before the investment threshold is amended) to benefit from more advantageous conditions, explore the following options. We suggest you consider one of the promising real estate projects in Turkey below.
Residential complex in a green area
Don’t hesitate to explore a residential complex comprising 544 apartments, surrounded by an array of mini-parks in Turkey. The complex features four green zones: a sunny grove, a starry grove with a barbecue area, a lunar grove, and a children’s area adorned with fruit trees.
Apartments for sale come in various layouts (2+1, 3+1, 4+1, and 5+1), with sizes ranging from 96 to 267 square meters. Each apartment has a balcony. This is what the exclusive infrastructure of the residential complex includes:
- fitness center
- swimming pool
- sauna
- table tennis
- sports court
- 4-story parking facility
- conference halls.
Sitting just 200 meters from the M12 metro station and 500 meters from the financial center, this project offers convenient access to transportation and business hubs.
Key features:
- Starting price: from USD 455,185.
- Completion date: June 2025.
- Location: Istanbul, Turkey.
Ataşehir apartments
Consider another compelling opportunity to acquire real estate in Istanbul. Located in a residential complex consisting of three buildings in Istanbul’s Ataşehir district in the Asian section of Istanbul, this ambitious project comprises 979 apartments, featuring layouts from 1+1 to 5+1, with sizes ranging from 88 to 310 square meters.
All residences boast advanced smart home systems. The complex comes with a meticulously planned infrastructure, incorporating 1514 parking spaces. Take a look at what its exclusive amenities include:
- inviting swimming pools
- thoughtfully designed children’s playgrounds
- relaxing recreational areas
- cozy coffee shops
- convenient shopping center
- modern cinema.
From the windows, residents will indulge in breathtaking panoramic views of the Bosphorus, Istanbul’s skyline, and the Princes’ Islands. Besides, private schools, metro stations, hospitals, shopping centers, and universities are close by.
Project details:
- Price: from USD 583,000.
- Completion: 2023.
- Location: Istanbul, Turkey.
Apartments in a high-rise residential complex
A third option is here for you. Acquire real estate that will make you eligible for the Turkish economic citizenship program. Sitting in a vibrant 44-story residential complex in the bustling Bomonti district of Istanbul, this property certainly deserves your attention. The project features a variety of apartment layouts, ranging from 68 to 242 square meters. These well-appointed residences have all the essentials for a comfortable lifestyle. Within the complex, residents enjoy access to restaurants, cafes, a pool, a fitness center, and a spa. For your convenience, the guarded project is complemented by private parking facilities.
The Bomonti district enjoys a great location, with the Istanbul subway just a short walk away. Besides, local residents can conveniently reach the seaside.
Project highlights:
- Price: from USD 684,000.
- Completion: already commissioned.
- Location: Istanbul, Turkey.
Seaside apartments in Ataköy
Consider buying property in Atakoy, a prestigious district in Istanbul, Turkey.
The luxury complex has apartments with layouts from 1+1 to 4.5+1, and sizes ranging from 89 to 399 square meters. These are the amenities you will find there:
- indoor and outdoor swimming pools
- fitness centers
- playgrounds for kids
- private parking spaces
- bicycle lanes
- basketball court
- tennis court.
As a bonus, residents will enjoy the privilege of a private harbor for sea taxis.
A mere 11-minute drive is all it takes to get to the historical city center. The residential complex is situated in an A+ rated district, with shopping centers just a short drive away. Its residents will benefit from a well-established urban infrastructure, with Atatürk Forest, yacht marinas, public parks, Acibadem Hospital, and more to enjoy.
Project details:
- Price: starting from USD 932,000.
- Completion: already commissioned.
- Location: Istanbul, Turkey.
Apartments in the European section of Istanbul
If you like comfort and prestige, consider buying property in a residential complex with individual living blocks, offices, and apartment hotels in Turkey.
This meticulously planned project encompasses 227 apartments, ranging in size from 133 to 267 square meters and featuring 2+1 and 3+1 layouts. All residences boast advanced smart home systems, and residents enjoy the convenience of concierge services. The complex also includes designated spaces for commercial premises, with 29 units specifically allocated for this purpose.
Here’s what you will find inside this exclusive residential complex:
- children’s playground
- indoor swimming pool
- sauna and hammam
- fitness center
- basketball court
- private garden
- supermarket
- coffee shop.
The project is strategically positioned, offering convenient access to key facilities. Nearby attractions include the Beylikdüzü Kolan Hospital, Perlavista Shopping Center, Beylikdüzü Migros Shopping Mall, Atatürk International Airport, and Istanbul University of Culture.
Project highlights:
- Price: starting from USD 1,203,000.
- Completion: already commissioned.
- Location: Istanbul, Turkey.
On a final note
As of now, Turkish authorities have not officially declared an increase in the investment threshold for obtaining economic citizenship. So, this is a great opportunity for non-residents to seize. Foreign nationals can still apply under the current regulations, which require an investment of USD 400,000 only.
If you are interested in any of the projects above and want to get Turkish citizenship within the current investment threshold of USD 400,000, don’t hesitate to contact the Q Wealth team without further delay. We will guide and support you throughout the whole process!
