Number of Turkish Citizenship Applications from Foreign Investors

Number of Turkish Citizenship Applications from Foreign Investors
  • Son Güncellenme: 07/09/2021

Turkish citizenship is preferred by lots of foreign investors as it has many advantages. Every year, hundreds of foreign investors prefer to invest in Turkey and so acquire Turkish citizenship by investment. As a result, with their dependents (wife / husband and children under the age of eighteen) there are thousands of people that become Turkish citizens thanks to Turkish Citizenship Law.

How Many Investors Became Turkish Citizens Since Late 2018?

The requirement of Turkish citizenship by investment was changed recently. In late September 2018, Regulation on the Implementation of the Turkish Citizenship Law, the minimum requirement of property investment was decreased to $250.000 from $1.000.000.

In the very first year of the law amendment, the number of foreign investors that became Turkish citizens by investment is 2 thousand 611 according to the Ministry of Interior General Directorate of Civil Registration and Citizenship Affairs. When we consider their families that fulfill the conditions to acquire Turkish citizenship due to the investor, the number of foreigners that have become Turkish citizens is 9 thousand 962 which is directly related to the investment.

Since the Regulation on the Implementation of the Turkish Citizenship Law was changed, the total number of foreign investors that have become Turkish citizens according to the data of the Ministry of Interior General Directorate of Civil Registration and Citizenship Affairs is 9 thousand 11. The total investment from foreign investors for acquiring Turkish citizenship is $3.261.500.000 according to the Ministry of Interior General Directorate of Civil Registration and Citizenship Affairs. With a similar proportioning with the first year’s investor-family rate, we can say that approximately 36 thousand people have become Turkish citizens directly related to Turkish Citizenship by Investment program in 2 years.

Although there is a certain demand for Turkish citizenship by property investment from the Arabic countries, Iran and Turkic republics foreign investors including from the U.S.,

Canada, China, Russia, Brazil, Italy, Australia and Greece are also interested in becoming a Turkish citizen. According to the Turkish Statistical Institute, %18 of 148 thousand 399 homes sold in Turkey between the years 2015 and 2019 were bought by Iraqis, %8,7 of them were bought by Saudi Arabians and %7,6 of them were bought by Iranians.

Advantages of Being a Turkish Citizen by Investment

Turkish passport is more effective than many other passports especially in the Middle East, that’s why investors prefer Turkish citizenship by investment.

Turkish passport is more advantageous than lots of countries by being at 55th rank among all countries in 2020 according to Henry & Partners Passport Index. While you can go 111 destinations without a visa with a Turkish passport, you can go 41 destinations with an Iranian passport, 32 destinations with a Pakistani passport and 28 destinations with an Iraqi passport. Therefore, it is so advantageous to acquiring Turkish citizenship and having a property in Turkey by investing $250.000.

In many European countries, there are some conditions to be a citizen of that country. For example: living in that country for 5 years or learning the language spoken in the country. In Turkey, on the other hand, there is no condition as such. The only condition of being a Turkish citizen by property investment is not to sell the property for 3 years. Other than that, one does not have to wait for five years or learn the Turkish language to get Turkish citizenship by property investment.

There are some agreements with various countries to prevent paying double taxes to both countries for foreign investors. Turkey has this agreement with some countries like; The USA, Germany, Azerbaijan, People’s Republic of China, France, South Korea, Georgia, Iran, Qatar, Malaysia, Pakistan, Russia, Singapore, Jordan and T.R.N.C. If an investor from any of these countries invests in Turkey, then s/he pays the tax only to Turkey not to the both countries.

During COVID-19 pandemic, everybody understood the importance of the health system in a country. WHO Europe Region Director of Emergencies and Communicable Diseases, Dr. Nedret Emiroğlu, said Turkey’s first since the day he started in Turkey and to take measures against this type of virus infectious diseases is well underway to identify the underlying mechanisms. As some of the European countries’ health system was collapsed, citizenship applications to Turkey increased.

Besides all the advantages of being a Turkish citizen by investment, if you chose Haliç Property as your guide for the process of acquiring Turkish citizenship by property investment you can experience more advantages. Haliç Property and its legal business partner Ketenci&Ketenci Law Firm will always be there for you even for your further needs after the property sell. For example: if you need support for the process of furnishing the house, Haliç property offers expertise with finding several different furniture packages to match any customer’s discerning taste and budget. Also, there are other services included in Property Management. There are;

  • Rental Management: Taking care of the rental management issues along with the rental contract, notary, bills, maintenance,
  • Tax and Insurance Management: to calculate and pay taxes.
  • Security & Property Checks: After giving the property for rent, our experts make sure no harm or damage will be caused to the apartment by the new tenant.

Conclusion

Every year, more and more investors are becoming Turkish citizens by investment and enjoy the advantages of citizenship. With the passport visa-free to 111 countries, those who have become Turkish citizens by investment have a chance to explore the beauties around the world. Those who get citizenship reach an advantageous passport with no condition but to purchase real estate of at least $250.000. Not to sell the property at least three years is enough to benefit all the advantages of being a Turkish citizen permanently. Last but not least, Haliç Property will keep offering multiple services to you in need of help.

For more information about Turkish citizenship, you can check the page below.

https://www.halicproperty.com/page/turkish-citizenship-by-property-investment



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