The Turkish Government has published official guidelines for acquiring citizenship through investment in real estate, bank deposit or capital investment.

The Invest Turkey office has set up a special page for granting exceptional citizenship to foreign investors.

The required investment for published according new regulations published in the Official Gazette on September 18, 2018

• Fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira, as attested by the Ministry of Industry and Technology
• Acquired a property worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years, as attested by the Ministry of Environment and Urbanization
• Created jobs for at least 50 people, as attested by the Ministry of Family, Labor and Social Services
• Deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years, as attested by the Banking Regulation and Supervision Agency
• Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years, as attested by the Ministry of Treasury and Finance
• Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years, as attested by the Capital Markets Board of Turkey

New conditions for Turkish Citizenship by investment

• Residence permit based on Article 31 of the Law No. 6458, by investing within the scope and amount determined by the President
• Foreigners holding the Turquoise Card

A Turquoise card is similar to green card or permanent resident card issued to live and work in Turkey with indefinite validity.

Foreigners are required to buy property of USD 250,000 to qualify for citizenship in Turkey.  Property investors are issued residence permits and must apply to the General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization for the certificate of eligibility.

Citizenship process

The Provincial Census and Citizenship Directorate issues the citizenship file and sends it to NVIGM, which checks applications for national security, due diligence and recommends to the Office of the president.   Turkish citizenship will be granted based on the resolution of the President of the Republic of Turkey.

Restrictions for Property Investors

Natural persons of foreign origin are granted the right to acquire Turkish citizenship by means of exceptional procedures upon purchase of real estate worth USD 250,000 and more. Having a residence permit is not a condition for the foreigner who wishes to buy a property in Turkey.

• A natural person of foreign origin may acquire real estate and limited rights in rem anywhere in Turkey of up to 30 hectares.
• Natural persons of foreign origin may not acquire and lease real estate within prohibited military zones or military security zones.
• Total acquisition by natural persons of foreign origin may not exceed ten percent of the total district area where private property is allowed.

Mortgages and loans on property do not require permission from governor’s office

Companies established in Turkey as a legal entity are considered under the category of foreign-owned companies in accordance with the following conditions:

• Foreign investors hold fifty percent or more of the shares, or
• Foreign investors are entitled to appoint and dismiss the majority of the board of directors

These companies may acquire property and limited rights in rem in order to engage in activities set forth in their articles of association.

The official guidelines for turkish citizenship by investment scheme is available here