Turkish Residency and Citizenship by Investment
Having second nationality is an option for all people in the World which they also see as Plan B for their future and for their families. Many countries in the World started to give residency and nationality for foreigners afterwards for various reasons where investment comes as the first one. Turkey is now one of those countries that gives this opportunity. In 2017, the demand is expected to be more.
Turkey’s Approach to Foreign Investment
Turkish government had announced the legislation May 2012 allowing all nationalities to buy properties in Turkey borders. Since then, the approach is more positive day by day. Continuously, Turkey tries to give more incentives to those who invest in Turkey and buy properties. In 2017, there will be new announcements as said.
Residency Permit by Investment
Regardless the amount you invest, when you buy a property in Turkey, one year residency permit is given directly to foreign investors in Turkey. You need to make your application online and go to the appointment. Later on you need to renew it before the expiry online only. For more information, you can read this article: “Residence Permit for Property Owners”
Turkish Citizenship by Investment
Turkish government in seriously thinking on this subject. Many European countries already started to give second nationality for foreign property investors with different amounts as 350.000 Euros in Hungary or 500.000 Euros in Portugal. The expected minimum amount to invest in Turkey will be 1.000.000 TRY (Turkish Liras) in order to get the nationality.
Currently if you would like to know the requirements to apply for citizenhip in Turkey, you can read our article about the mentioned subject: “Turkey Plans to Grant Citizenship to Foreign Investors”