The Covid-19 outbreak has revealed severe public health problems in all countries of the world. Turkey has demonstrated a successful struggle with strong health infrastructure and applications in place. This situation has made it more attractive to live in Turkey. It has increased the interest of foreigners in Turkish citizenship.
According to the recent data, more than 7 thousand foreigners have gained Turkish citizenship by approximately 2 billion dollars in real estate investment in Turkey in the last 3 years. Following the relevant regulation change, the interest of foreign investors caused an increase in the demand for real estate across the country in addition to other investments.
Foreigners Can Acquire Turkish Citizenship with an Investment of 250.000 Dollars
If the foreigners acquire Turkish citizenship by way of investing, foreign investors can have the right to permanent residence, the unlimited right to work in Turkey, and the opportunity to invest in. Besides, visa-free travel to many countries, a simple assessment process for visa applications to many countries, and all international incentives granted to Turkish citizens with bilateral or multilateral agreements, including the Ankara Agreement.
A foreigner who applied for Turkish citizenship doesn’t need to reside at least for a while in Turkey. They do not have to speak Turkish. They aren’t required to reside in Turkey in the citizenship applications and the investment process.
Finally, they do not need to make any special donations to apply. Foreign investors are only asked not to sell the real estate they have purchased in their citizenship applications through investment for at least 3 years. Besides, in determining that the purchased real estate is worth 250 thousand dollars, the relevant consultancy firms must be granted the Real Estate Value Assessment Report by the CMB.