Top nationalities to get Turkish citizenship by investment and trends
Thanks to its geostrategic position between the European and Asian borders, Turkey is an interesting country for most investors to consider. Whereas it has no limitations to the nationalities that can eventually call it home, there are top nationalities that are ready to grab its investment opportunities.
According to the Turkey Statistical Institute (TUIK), as of August 2019, Iraq was the leading country to tap into the Turkish investment program. Approximately 3,604 houses were sold to foreign investors and Iraq nationalities took up the biggest amount (at least 675 residential units).
So, how does one qualify?
Are you at least 18 years old and have never stayed illegally in Turkey? Are you willing to pay for taxes and costs that come with getting Turkey citizenship? Then, regardless of your nationality, you should be able to enjoy the country’s investment programs.
These were followed by Iran nationalities then by Russian Federation nationalities in the number of residential units purchased
Let’s have a look at the top 10 nationalities that took part in the Turkish investment program as of August 2019:
- Iraq with approximately 675 housing units bought
- Iran with approximately 469 housing units
- Russian Federation with approximately 212 units
- Kuwait with approximately 159 units
- Germany with approximately 149 units
- Afghanistan with approximately 146 units
- Saudi Arabia with approximately 146 units
- Sweden with approximately 119 units
- The United Kingdom with approximately 109 units
- Jordan with approximately 105 units
Other nationalities that showed interest in the investment program include Yemen, the USA, Azerbaijan, Egypt, Libya, Ukraine, Somalia, Qatar, Kazakhstan, and Palestine
Turkey is home to beautiful weather, gorgeous beaches, and embraces a vibrant lifestyle that attracts many a foreigner. Of special consideration are the major cities of Istanbul, Antalya, Bursa, and Ankara. Other provinces of interest for foreign investors are Yalova, Sakarya, Trabzon, Mugla, Aydin, and Izmir.
How does Turkish citizenship by Investment work?
The Turkish citizenship by investment program was launched in 2017 with an initial quote of at least $1 million in property investment in the country. Unfortunately, few were keen on this amount and so few foreigners invested in the program. However, with the revision to $250,000 in mid-2919, there was a spike in the number of investors to the countries, most especially from Iraq, Iran, and the Russian Federation.
With the required money at hand, the investors have to fulfill numerous requirements or present documents such as:
- Birth certificate
- Valid passport
- Proof of residence such as a recent utility statement
- Recent Biometric images
- A marriage certificate(if applicable)
- Clean criminal record(if requested)
- Death or divorce certificate( if applicable)
- Valid health insurance
Holding Turkish citizenship comes with many benefits. Besides the freedom to live, work, or study in a cost-effective, vibrant country, you get to enjoy many business opportunities thanks to the Customs Union Agreement between the EU and Turkey.
Also, you get to enjoy visa-free travel to over 115 countries with your Turkish passport! And, to top it off, you get to enjoy dual citizenship in the country!