Price increase in the Turkey Citizenship by Investment Program
Published at: 31/05/2022 10:33 am
The real estate investment option's cost increased to US$400,000 from US$250,000. The Turkish Investor's Citizenship Program also received a new investment option. You have only few weeks left to apply under the original more affordable investment!
The increased real estate threshold will enter force on 13 June. You still have time to apply under the original amount of investment.
Meanwhile, the Turkish government introduced a new investment option in exchange for valuable passports. The new option is a deposit of a minimum of half a million US dollars in participation share in the private pension system. The qualifying entities are regulated by the Insurance and Private Pension Regulation and Supervision Authority. Moreover, the citizen must stay in the system for three years.
Interestingly, the program's original qualifying amount of real estate investment was US$500,000. However, the Turkish government suddenly lowered the threshold shortly after the program's introduction.
Turkey became quickly one of the preferred target countries for various reasons. Middle Easterns started the inflow; they needed entry to the vast Turkish market and a safe haven for their families. Meanwhile, more and more Europeans began to enjoy their holidays or pension on the Turkish Riviera, so getting real estate and citizenship is the ideal solution.
But the Russia's war against Ukraine changed the comfortable situation. Turkey remained the single country where Russians could apply for citizenship in exchange for investment under a straightforward and fast naturalisation process.
Perhaps Turkey has prepared for the price increase or a sudden decision following the turmoils. As the European real estate market became significantly more expensive post-Covid, maybe Turkey just adjusted the costs.
Discus Holdings Ltd's local experts have vast experience supporting applicants for the Turkish citizen or resident status. You can read here all the detailed information regarding our services, costs, advantages, tax incentives and requirements of the Turkey Citizenship by Investment Program.
How much do I need to invest in Turkey to get citizenship?
You still have time to apply for Turkish citizenship under the original minimum investment amount! Don't hesitate to ask for a free consultation here!