Turkish citizenship for real estate. New conditions from June 13
The attractiveness of the Turkish economy for life and business is undeniable: it is convenient, comfortable, promising and interesting here. Turkish citizenship opens up new opportunities, so why not take advantage of them? Since June 13, 2022, Turkey has changed the threshold for investments in the real estate market of its country in order to obtain citizenship. The decision was probably a reaction to the flow of requests for Turkish citizenship. By increasing the threshold value for obtaining citizenship documents, the country is simultaneously attracting more and more finance to its economy. Well, it is quite a balanced and economically justified step, given the demand. At the moment, in order to obtain Turkish citizenship, non-residents must buy real estate in the amount of at least $400 thousand or the equivalent of this amount in another currency. The volume of necessary investments has been increased more than significantly: before it was estimated at $250 thousand.
The most expensive cities are Istanbul, Izmir and Ankara. They were also included in the ranking of the most expensive cities in the world in terms of housing prices by Knight Frank. In order for the money to remain in the economy and in the real estate market, a restriction has also been introduced on transactions with such real estate: within three years from the date of purchase, foreign citizens do not have the right to sell or grant this housing. Despite the changes in the investment threshold, Turkey remains very attractive for Russians. The main advantages of obtaining Turkish citizenship:
- Visa-free entry to 110 countries, including: South Africa, Japan, Hong Kong, Singapore, Malaysia, Qatar, Thailand
- Access to the USA with an E-2 visa
- No taxes on global income for non-residents
- Return on investment 3 years after receiving the passport
- The possibility of remote registration of citizenship (arrival in Turkey is required only for the delivery of biometric data)
- No requirements for renouncing the main citizenship, for language skills and residence
- The possibility of including a spouse and children under the age of 18 in the application
- Inheritance of citizenship
- Registration period: 3-4 months
ARAVANA Multifamily Office specialists are ready to assist in obtaining a second citizenship, accompany in the process of paperwork and provide comprehensive support on all issues.