Turkish Citizenship by Investment is to Increase from $400.000 to $600,000
We bring you crucial news regarding changes in Turkish citizenship laws that may impact your investment decisions. Recent information from reliable sources suggests that the minimum limit for real estate investments required for Turkish citizenship is set to increase from $400,000 to $600,000, effective from the beginning of the upcoming year.
The Directorate General of Migration Management initiated an amendment on October 16, 2023, which resulted in the adjustment of the minimum limit for residential property sales to foreigners for residency purposes. This limit was raised from $75,000 to $200,000. Simultaneously, the minimum limit for housing sales intended for citizenship purposes was set at $400,000.
As per the latest developments, the minimum limit for housing sales to foreigners for citizenship purposes is expected to rise to $600,000, marking a significant adjustment from the current $400,000. This change is anticipated to take effect at the beginning of the new year.
Previously, as of June 13, 2022, foreigners were eligible to apply for Turkish citizenship by purchasing real estate worth $400,000. This marked a reduction from the earlier requirement of $1 million in 2018, which was further lowered to $250,000 in September of the same year. Following public reactions, the threshold was raised to $400,000 in the previous year.
This adjustment in the minimum real estate investment required for Turkish citizenship may have implications for individuals considering or currently undergoing the citizenship application process. It is crucial to stay informed about these changes and assess their potential impact on your investment plans.
At CCT Investments, we are committed to providing our clients with up-to-date and accurate information. We advise all our stakeholders to stay tuned for official announcements and further details on this matter. If you have any concerns or questions regarding your ongoing or future investments, please do not hesitate to reach out to our dedicated team for personalized assistance.