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Feb 5, 2023

Turkish Citizenship is the Major Attraction for Foreign Investors in Turkey

As the financial crisis continues, the idea of ​​protecting money through safe and profitable investment possibilities has caught everyone's attention lately. Investing in the real estate market is one of the most important and perhaps the safest investments that come to everyone's mind especially after the Turkish government's decisions to grant Turkish citizenship in exchange for investment of a certain value. When searching for the best countries to invest in real estate development, Turkey's real estate is among the first results that appear. Turkey is a country with local and global influence, and it is an important member of the G20, as it is characterized by multiple economic factors and an important geopolitical location, which makes it one of the best countries to invest in, especially real estate investment, whether now or in the future.

Many foreigners looking to invest in real estate in Turkey ask themselves, "Why should I invest in real estate in Turkey?"

An answer that comes quickly from their minds which is the investment facilities and the acquisition of Turkish citizenship because of it.

Perhaps the most important thing that attracts investors' money in Turkey is real estate, as it enjoys a distinguished and active global real estate market. It is growing day by day. Your investment in Turkey is not limited to this market only, we do not say this, but if you want a sure profit and enjoy the characteristics of this investment easily, including obtaining the Turkish citizenship, real estate investment is the leader today in the Turkish market.

Foreign Direct Investment Law

The objective of this law is to encourage foreign direct investment. to protect the rights of foreign investors; To define investment and investor in line with international standards; To create a notification-based system for foreign direct investment rather than screening and approval; Thus regulating the principles of increasing foreign direct investment through the applicable policies. This law defines the treatment to be applied to foreign direct investments.

This law includes real persons holding foreign citizenship, Turkish citizens residing abroad, as well as foreign legal entities established under the laws of foreign countries and international institutions, which make foreign direct investment in Turkey.

Turkish citizenship is an Important attraction

Residency is granted to foreigners through a set of laws that have unanimously agreed that buying a property by a foreigner may entitle the foreigner to obtain residency directly with some papers.. In special cases, Turkish citizenship may be granted. Among these methods:

Buying a property worth $200,000

As to obtain a short-term real estate residence permit card, it is obtained after entering it through a tourist visa and requires the purchase of a property in Turkey of 200 thousand dollars and then obtaining a short-term real estate residence permit card for the property. Proof of ownership of real estate in Turkey will ensure the renewal of the residence permit for the next period and does not require continuous stay in Turkey

The tourist visa may also be converted into a real estate residence permit with a pledge not to sell the property in Turkey for a period of 5 years with the option of converting to Turkish citizenship, in this case spouse and children under18 years old can be included as well. 

Buying a property worth $400,000

In this case, Turkish citizenship is obtained only once the procedures are completed. The procedures for obtaining Turkish citizenship by buying a property are one of the fastest and most successful ways, as the waiting period does not exceed 90 days before obtaining citizenship. It seems that the recent step taken by the Turkish government to facilitate the conditions required of foreign investors wishing to obtain its citizenship has aroused the interest of investors, especially Arabs.

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Real estate investment in Turkey is not an ordinary option

Investing in real estate in Turkey is not the kind of property that only returns you money for its investment. Without direct follow-up, what distinguishes real estate is its special attractiveness for housing and stability. As it is possible to enjoy your investment not only financially, but also spiritually through your residence and your choice of multiple types of housing and investment.

Reasons that prompted many investors around the world to obtain Turkish citizenship

First, the possibility of obtaining it by more than one means, such as real estate investment, where it is only required that the price of the property not be less than 400 thousand US dollars and a pledge not to sell it before 3 years have passed since the date of its purchase. It is important to note that what drove them to get it through real estate investing is that the amount the property should have been adjusted to the above after it was $1 million previously.

Second, it can be obtained through commercial investment, where the invested capital must not be less than five hundred thousand US dollars.

Third, citizens in Turkey enjoy all the rights that a Turkish citizen has, as they will be able to apply for the best job opportunities and will be able to participate in the elections.

Fourth, investors found safety and protection in Turkish citizenship has, based on the strong economy that Turkey enjoys and the stability that pervades the country.

Fifthly, also, those who hold Turkish citizenship will be able to cross many borders of the world's countries with reduced procedures and great facilities.

Investors who obtained Turkish citizenship

Milliyet daily reported that more than 7,312 foreigners became Turkish citizens in the past three years by investing in real estate in the country.

Turkey started the citizenship program in 2017. By law, any foreigner who invests one million dollars in Turkey can apply for citizenship. Since September 18, 2018, the limit has been lowered to $250,000. Yet in June 2022 the amount of real estate investing that qualifies to obtain the Turkish citizenship increased to 400,000$.

Therefore, owning a Turkish passport has become a dream for many, not to mention that Turkey is a country witnessing an unprecedented renaissance and great interest and hard work in giant projects, most of which are nearing completion, and the Turkish government is working to strengthen the economy and provide it with new sources of income that guarantee its development and stability. In the long term, it will attract foreign investments and capital, in addition to developing the industrial, commercial, agricultural and real estate sectors, in addition to being a country with a prominent international position at the regional and international levels.

In the near future, Turkey will be a hub for linking Asia with the Western world through transport and trade for many transportation and navigation projects, the most important of which is the Istanbul Canal, which will draw the attention of many foreigners towards visiting and investing in Turkey and Istanbul in particular...

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