By Justin Mays:
On the 12th of May 2022, the value of Turkish citizenship acquisition was updated to 400,000 USD. The President of Turkiye, Recep Tayyip Erdogan published the “Regulation on Amending the Regulation on the Implementation of Turkish Citizenship Law” in the Official Gazette of the Republic of Turkiye.
Currently, the Turkish Citizenship by Investment program is giving foreigners an opportunity to own a Turkish passport after purchasing real estate worth 250,000 USD or more but this is going to change with the effect of 13 June 2022.
In the first quarter of 2022, Turkiye witnessed a 45% rise in sales compared to 2021 selling 14,344 homes to foreign nationals. Russia, Iran, and Iraq nationals were on top of the list.
There are various programs through which you can acquire Turkish citizenship but if you wish to buy property for 250,000 USD (before 13 June) you have to keep it for 3 years without selling it. The spouse and children of the applicant are granted Turkish citizenship. You do not have to be in Turkiye during the application process, you can give your lawyer the power of attorney (POA) and they will handle all the paperwork for you. Prime Property Turkey has a legal team that can assist you every step of the way and is ready to answer all your questions.
After securing your Turkish citizenship, you can keep your multiple citizenships and your children born in Turkiye will become citizens of the country.
Read our buyer’s guide or contact us so that we can help you get your citizenship before the price changes.