According to the newly published 2018 Turkish citizenship programme on September 18th, it’s possible to be a Turkish citizen by $ 250.000 property investment or $ 500.000 investment to public debt instruments. With the decision published in the Official Gazette, foreigners’ right to citizenship was facilitated. The amount of fixed capital envisaged to qualify for citizenship was reduced from $ 2 million to $ 500,000. The minimum amount required for the transition to citizenship of immovable property owner foreigners in Turkey was also reduced to $ 250.000 from $ 1 million.
Of course, the foreigners who want to get Turkish citizenship by different investment ways, the conditions should be met. Of course, the conditions has been getting easier day by day, but it’s a kind of opportunity for foreigners to take Turkish passport to travel more than 100 countries without visa. This is a very important issue. Especially, the investors from Iran, Iraq, Saudi Arabia, UAE, Lebanon, Qatar and Yemen are getting their citizenship rights at the last months by investments. Of course, the demand comes from the Middle East countries for Turkey citizenship. There are some important conditions to meet by foreign investors to get Turkish citizenship.
- In addition, the limit on the amount of employment envisaged to acquire Turkish citizenship through employment creation has been reduced from 100 to 50.
- Transition will be possible in order to complete the specified period of time between investment types.
- According to the regulation, the monetary exchange rate of the Central Bank, as well as the cross exchange rate, will be the basis for determining these monetary values.
Turkey Statistics Institute (TSI), according to housing sales in November 2018, was sold to foreigners in Turkey, 35 thousand 430 in housing data covering 11 months. Iraqis were the first with 7,330 and the Iranians took the third place with 3 thousand 217, while the Afghans ranked third with 852. Only Iraqis in most residential areas housing foreigners ranking from Turkey in November 1003 with the Iranians was second with 463, while first place in housing. Iran was followed by Afghanistan and Russian Federation with 261 houses, and Saudi Arabia with 233 houses.
The power of passport is so important
Moreover, the new Turkish citizenship programme attracts the interest of foreign investors from many countries of the world. Especially, the programme is important for Middle East countries’ citizens because the Turkish passport has a vital value for them definitely. People who want to get a second citizenship by investment all over the world are firstly turning to a country with a stronger passport than their own.
According to the Henley & Partners company’s “Henley Passport Index 2019” report, there are Iraqi and Afghanistan passports at the bottom of the list of the strongest passports, providing visa-free entry to only 30 countries. The passport of Iran to 42 countries, Jordan, Egypt and Tunisia passports provide visa-free access to 50 countries, and Azerbaijan passport to 66 countries.
The Turkish passport allows you to travel to 111 countries without a visa. This situation, said residential sales to foreigners in Turkey is estimated to be among the causes of the country stand out. On the other hand, “the power of the passport” is not the only criterion for understanding who is interested in Turkish citizenship. There are other reasons why the Middle Eastern riches prefer the Turkish passport instead of the European countries that currently enter over 180 countries. As a final word, being a Turkey citizen is determined as so advantageous for foreigers who want to live and invest in Turkey.
Chief editor of Invest Guide Turkey. Graduated from the Business Administration programme on 2014 and works as a journalist in the field of Foreign Investments in Turkey for 5 years.