Turkey citizenship by investment

Turkey citizenship by investment is one of the most popular citizenship-by-investment programmes in the world today.

With investment starting from USD 400,000 in property, investors may obtain a Turkish passport within 4 to 8 months — giving visa-free access or visa on arrival to more than 120 countries including Japan, Singapore and Hong Kong.

In particular, Turkey is one of the few countries with anvisa E-2treaty with the United States, opening up the opportunity to live and do business in the United States for new citizens

A detailed article onthe country of Turkey.

An overview of the programme

The Turkey citizenship-by-investment programme was launched by the government in January 2017 with the aim of attracting foreign direct investment and boosting growth in the property market. Its legal basis is Article 12 of Law No. 5901 on Turkish citizenship, allowing citizenship to be granted to foreign nationals making a significant economic contribution to the country.

When first launched, the minimum investment was USD 1,000,000 — too high to attract many investors. In September 2018, the government reduced it to USD 250,000, creating a strong wave of investment averaging USD 250 million a month from foreign investors. In May 2022, because of high demand and exchange rate volatility, the property investment threshold was raised to USD 400,000 — the level in force as at 2026.

The programme attracts investors from more than 100 countries, particularly from the Middle East, South Asia, Europe, North America, Iran and the Arab states. Turkey permits multiple citizenship, meaning investors need not renounce their current citizenship. However, nationals of certain countries are restricted from taking part, including Armenia, Cuba, Nigeria, North Korea and Cyprus.

Find more information about the programme on the Turkish government website athere.

The investment routes

The programme offers 5 investment routes to qualify for citizenship.

Buying property (the most popular)

A minimum investment of USD 400,000 in property in Turkey. Investors may buy apartments, villas, commercial or industrial property. Several properties may be bought provided the total value reaches the minimum threshold. The property must be held for at least 3 years from the date of purchase, after which it may be sold freely — however, property used to obtain citizenship may not be resold to another CBI applicant.

Since December 2023, citizenship cannot be obtained through buying vacant land. The property must include a completed building or hold a building permit. Payment must be made through a Turkish bank; cash transactions are not accepted. The property must be bought from a Turkish citizen or legal entity.

This is the route chosen by around 95% of investors thanks to the strong appreciation potential of the Turkish property market — house prices in the country have risen around 6-fold since 2015. Investors may also generate passive income from letting while holding the asset.

A bank deposit

A minimum of USD 500,000 deposited in an account with a Turkish bank, held for at least 3 years. Investors may deposit in any currency the bank accepts. Note: the YUVAM account programme (allowing deposits in Turkish lira with exchange rate protection) ceased operating in 2025, but the standard USD 500,000 deposit option remains available.

A detailed article onTurkey citizenship by investment through a bank deposit.

Buying government bonds

A minimum of USD 500,000 in Turkish government bonds, held for at least 3 years.

Fund investment

A minimum of USD 500,000 invested in shares in a licensed Turkish property investment fund or venture capital fund, held for at least 3 years.

Job creation

Establishing a business in Turkey and creating at least 50 jobs for Turkish citizens. The number of jobs must be maintained for at least 3 years, as confirmed by the Ministry of Family, Labour and Social Services.

Investment routes	Minimum level	Holding period	Capital recovery
Property	$400,000 USD	3 years	Yes (sale after 3 years)
A bank deposit	$500,000 USD	3 years	Yes (withdrawal after 3 years)
Government bonds	$500,000 USD	3 years	Yes (sale after 3 years)
Investment funds	$500,000 USD	3 years	Yes (sale after 3 years)
Job creation	Business capital	3 years	Yes (sale of shares after 3 years)

A distinctive feature of the Turkish programme compared with many other CBI programmes: every investment route allows the capital to be recovered after 3 years. This is a considerable advantage over the non-refundable donation programmes in the Caribbean.

Application requirements and family members

The main applicant must be 18 or over and have a clean police record. The programme requires no language proficiency, no residence in Turkey before or after obtaining citizenship, and no complex interview.

The family members eligible to be included in the same application are: a spouse and children under 18. Children of any age with a disability who are financially dependent are also included.

An important note: unlike many Caribbean CBI programmes, Turkey does not include parents, grandparents or siblings in the application — the family scope is considerably narrower.

Since 2024, a spouse must also apply for a residence permit in Turkey (previously required only of the main applicant). Both spouses must provide certified police certificates before filing the citizenship application.

The application process

The process of obtaining Turkish citizenship through investment comprises the following main steps.

The first step is choosing the investment route and preparing the application. Investors need to decide between property, a deposit, bonds or another route. Where property is chosen, a Certificate of Eligibility must be obtained from the General Directorate of Land Registry, confirming that the property meets the programme’s requirements.

The second step is completing the investment. Open a bank account in Turkey, transfer the funds and complete the property purchase or the chosen investment. For property, investors sign a sale contract, pay through a bank and register the title deed (tapu).

The third step is applying for a residence permit. After completing the investment, the investor (and, since 2024, their spouse) is issued a short-term residence permit in Turkey. This step requires the investor to travel to Turkey in person to give biometrics.

The fourth step is filing the citizenship application. Investors file the application in person with the Turkish immigration authority. Where applying with family, the spouse must also attend. Children need not attend.

The final step is due diligence and approval. The application undergoes a due diligence process including checks on the source of funds, international criminal records and a security assessment. After approval, the investor receives the certificate of citizenship and a Turkish passport.

The total time from filing to receiving the passport is usually 4 to 8 months, depending on the investment route and the complexity of the application.

The Turkish passport: travel rights

The Turkish passport gives visa-free access, visa on arrival or an electronic travel authorisation (eTA) to more than 120 countries and territories. The notable destinations include Japan (visa-free for 90 days), Singapore (visa-free for 30 days), Hong Kong, South Korea, Malaysia, Indonesia, Brazil, Argentina, and most South American, African and Central Asian countries.

For the Schengen Area, Turkish citizens need to apply for a C-2 Schengen visa — a multiple-entry visa valid for up to 5 years, allowing stays of up to 90 days in any 180 days. This is an important difference from Caribbean or Grenadian passports, which have full Schengen visa-free access.

For the United States, Turkish citizens qualify for the E-2 visa — a business investor visa allowing them to live, work and run a business in the United States. The E-2 visa is granted for 5 years and may be renewed indefinitely. This is a strategic advantage for investors wanting access to the United States market through a Turkish passport.

Other benefits of Turkish citizenship

Beyond travel rights, Turkish citizenship brings many practical benefits. Citizens have the right to live, work and study in Turkey without time limit. Access to the public health and education systems, including internationally respected universities. The right to own and deal in property in Turkey without restriction. Citizenship is permanent and passes to children and future generations.

On tax, residents of Turkey are taxed on worldwide income. However, non-resident citizens (living outside Turkey) are taxed only on income arising in Turkey. This means investors who obtain citizenship but do not live in Turkey are not subject to worldwide income tax — a considerable advantage for international tax planning.

Turkey’s strategic position

Turkey has a uniquely distinctive geographical position — a transcontinental country linking Europe and Asia, with the city of Istanbul straddling both banks of the Bosphorus. This position brings strategic advantages for business investors wanting access to the European, Middle Eastern, Central Asian and North African markets alike.

Turkey has the world’s 19th largest economy (by nominal GDP), with a population of nearly 85 million — the largest domestic market in the region. The country has modern infrastructure, a well-developed transport system (Istanbul Airport is one of the busiest in the world), and a tourism industry attracting tens of millions of visitors each year.

For property investors, Turkey is a particularly attractive market. House prices in Turkey have risen around 15–25% a year in recent years, partly because the falling lira has made property relatively cheap in USD terms. Istanbul, Antalya, Bodrum and Ankara are the cities attracting the most foreign investors.

Important recent changes (2024–2026)

The Turkish CBI programme has undergone several notable changes in 2024–2025.

From 2024, a spouse must apply for a residence permit — previously required only of the main applicant. Both parties must provide certified police certificates. From 2025, the YUVAM account programme has ceased — investors wishing to make a bank deposit must use the standard USD 500,000 account.

Since December 2023, citizenship cannot be obtained through buying vacant land — the property must include a building or a building permit. The due diligence process has also been tightened, including deeper checks on the source of wealth and the applicant’s background.

A comparison with other CBI programmes

Criterion	Turkey	Grenada	Greece (Golden Visa)	Portugal (Golden Visa)
Type	Citizenship	Citizenship	Residence	Residence
Minimum investment	USD 400,000 (property)	USD 235,000 (donation)	EUR 250,000 (converted property)	EUR 250,000 (funds)
Processing times	4–8 months	4–9 months	4–12 months	6–12 months
Capital recovery	Yes (after 3 years)	No (NTF donation)	Yes (sale of property)	Yes (sale of fund units)
The United States E-2 visa	Yes	Yes	No	No
Visa-free access to Schengen	No (a C-2 visa is needed)	Yes	Yes (Schengen residence)	Yes (Schengen residence)
Family included	Spouse + children <18	Spouse + children <30 + siblings + grandparents	3 generations	Spouse + children + parents
Residence requirement	No	No	No	7 days a year

Turkey stands out on 3 points: it grants full citizenship (not merely residence), the investment is recoverable after 3 years, and it qualifies for the United States E-2 visa. However, the programme is weaker on Schengen travel rights (a visa is needed, with no visa-free access) and on family scope (only a spouse and children under 18, with no parents or siblings).

For further reference on citizenship-by-investment or residence-by-investment programmes, investors may consult theResidence and citizenship by investment map.

Who it suits

The Turkey citizenship-by-investment programme suits investors wanting full citizenship (not merely residence rights) with the ability to recover their capital, particularly through property with strong appreciation potential.

Investors wanting access to the United States market through the E-2 visa without the high investment level of thevisa EB-5programme (USD 800,000+). Entrepreneurs needing a bridge between Europe, the Middle East and Asia — taking advantage of Turkey’s transcontinental position. And families wanting a fast process (4–8 months) with straightforward formalities — no language requirement, no residence requirement and no business experience requirement.

A detailed article on the option ofTurkey citizenship by investment and the opportunity of a United States E-2 visa.

In summary, Turkey citizenship by investment combines 4 attractive elements: full citizenship obtainable within a few months, a property investment recoverable after 3 years with appreciation potential of 15–25% a year, a passport with visa-free access to 120+ countries, and access to the United States E-2 visa. It is a programme competing directly with both the Caribbean CBI group and the European Golden Visas, offering a middle way between the two regions at a reasonable cost with a balanced set of benefits.