Turkey is one of the ideal destinations for people who want to live overseas for good because of the sceneries and income opportunities. There are many ways to becoming a citizen in Turkey, and one of them is through investment. Turkey residence permit by investment program started in 2016. Through this program, applicants can invest in Turkey’s real estate or make a bank deposit, and in return, they are granted residency, citizenship, and a second passport.
One of the most attractive options for investors is the real estate route. You are required to buy a property with a minimum price of $250,000 and associated fees. If you are going to compare the cost of the property to other countries, Turkey is the lowest, especially if you look at it from an investment standpoint. The usual price for real estate investment is set at $1million.
What are the benefits of having a Turkey residence permit?
- If you are a holder of a Turkish passport, you get to travel visa-free to 125 countries across the globe.
- There is also a possibility of visa-free entry to countries in the European Union.
- Turkey has an excellent global connection, such as the E-2 visa treaty with the United States. What does it mean? It simply means that you can apply for residency in the United States via the E-2 visa program if you are a Turkish citizen.
What are the limits for citizenship investment?
When applying for Turkey citizenship through the investment route, there are minimum investment limits you should meet. These are the following:
- Capital investment – $500,000
- Bank deposit – $500,000
- Real estate investment – $250,000
How long will it take before citizenship is granted? It depends, but it usually takes around three to six months following the applicant’s investment. The investment should behold for at least three years.