TURKISH PASSPORT FOR INVESTMENT

From the beginning of May 2012 until the end of February 2024, non-residents have purchased 384,519 properties in Turkey, Turkish Minute reported, citing data from Cumhuriyet newspaper.

According to the Turkish Statistical Institute (TurkStat) - since 2019, 39,172 properties in Turkey have been purchased by citizens of CIS countries. They are followed by Iranians (35,573 properties) and Iraqis (31,319 properties).

According to statistics, the volume of real estate sales to foreigners in 2023 decreased by 48.1% compared to 2022, then the increase in transactions reached 35,005 units. This is the lowest figure since 2017. The proportion of real estate sales to foreigners, which was 4.5% in 2022, fell to 2.9% in 2023, this is due to the increase in dollar appreciation, earthquakes that have passed, raising the investment threshold.

From mid-2022, the investment threshold is raised from $250,000 to $400,000. Since the end of last year, it has been "rumored" that it will be raised again soon to $600,000 in 2024, but there is no official confirmation of this information yet.

From October 2023, a temporary residence permit based on the purchase of real estate can only be obtained if the property is purchased for at least $200,000 (instead of the previous $75,000).

We are approached for the service of obtaining a Turkish passport through investment to avoid:

• misunderstanding of legal requirements;
• limitations in choosing the optimal investment strategy;
• violation of the conditions of the chosen investment program;
• difficulties in legal procedures;
• bureaucracy.

Stages of work:

1. We will assess the situation and analyze the risks associated with a possible refusal.
2. We will prepare the necessary package of documents and submit applications to the competent state authorities.
3. Working with our partner brokers, we will help to find a suitable property and check its legal cleanliness.
4. We will formalize the transaction, register the title and provide all ready documents.
5. We will submit an application and the necessary package of documents to the state authorities.
6. We will go through with you all the stages of citizenship and obtaining a passport.
7. If necessary, we will help you to open a bank account in Turkey: we will choose a suitable bank, prepare documents, submit an application and pass internal checks.

Contact our specialist for a free consultation.