Citizenship applications to Turkey expected to boom in 2019

Since launching its Citizenship by Investment programme in 2017, Turkey has received over 250 applications worth nearly $100 million by the end of 2018. This number is expected to rise significantly during 2019 after the Turkish Government reduced its minimum investment requirements for foreigners in September 2018.

To qualify for Turkish citizenship for themselves and their families, applicants must meet at least one of the investment options:

  • Fixed capital investment equivalent to USD $500,000 (reduced from $2 million)
  • A deposit of USD $500,000 (or the equivalent value in Turkish Lira) for at least three years in one of the Turkish banks (reduced from $3 million)
  • Purchasing immovable property/real estate with a minimum investment of USD $250,000 with a land registry record determined by the Ministry of Environment and Urbanism on the proviso that it is not sold for three years – previously the minimum investment requirement for citizenship by property was $1 million.

Turkey is literally a gateway between Asia and Europe and a Turkish passport offers visa-free travel to over 140 countries.

 

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