The Turkish Citizenship by Property Investment (CBPI) Program, launched in 2017, is one of the most attractive and applicant friendly programs available. It allows investors and their dependent family members to obtain second citizenship in less than six months in exchange for an economic contribution to the country. Detailed information on this is available from the official government website, Presidency of The Republic of Turkey.

Founded in 1923, Turkey is a secular, unitary, democratic, pluralist, and a parliamentary republic. Connecting the continents of Europe and Asia, Turkey has a strategically important location and is the most influential country in the region.

After its introduction in 2017, the Turkish government amended the CBPI Program on 18 September 2018. In line with the amendments, foreign applicants who satisfy one of the investment options below are qualified for Turkish Citizenship together with their family members-spouse (wife/husband) and children under 18 years old:

i. Real Estate Investment: Acquiring a property worth a minimum of USD 250,000 or
equivalent foreign currency or Turkish Lira with a title deed restriction on its resale for at least three years.
ii. Cash Deposit: Depositing at least USD 500,000 or equivalent foreign currency or Turkish Lira in banks operating in Turkey with the condition not to withdraw the deposit for at least three years.
iii. Government Debt Instrument Investment: Investing in Turkish Government Bonds worth minimum USD 500,000 with the condition to hold them for at least three years.
iv. Job Creation: Providing employment for at least 50 employees.
v. Capital Investment: Making a fixed capital investment in the amount of minimum USD 500,000 or other foreign currency or the equivalent amount as Turkish Liras.
vi. Investment in Funds: Purchasing shares of real estate investment trust or venture capital fund in the value of minimum USD 500,000 or other foreign currency or the equivalent amount as Turkish Liras.

Approval by the related authorities before submission of the citizenship application is required.

The following are eligible for property investment:

i. Natural persons of foreign origin may acquire any “real estate” in areas where private property is allowed (residential, commercial, land lot, agricultural etc.).
ii. If the real estate acquired does not include any previously built construction, the owner of the foreign origin is to apply to the relevant public administration within two years in order to develop a project.
iii. A natural person of foreign origin may acquire real estate anywhere in Turkey of up to 30 hectares.
iv. Natural persons of foreign origin are not allowed to acquire and lease real estate within prohibited military zones or military security zones.

The property should meet certain criteria including having a verified expert appraisal report by a Capital Markets Board licensed company in place as well as a building license, and the title deed should also be clear out of any restrictions on the Title Deed before finalizing the sale transfer.

The property should meet certain criteria, before finalizing the sale transfer, including having:
• An expert appraisal report by a Capital Markets Board licensed company
• A building license
• Title deed clear of any restrictions

• Citizenship granted to the investor and family members for life. Descendants are also eligible for generation’s to come
• Fast track process that takes a couple of months, not more than six months
• Wealth declaration is not required
• World class cities, beautiful coastline, Mediterranean climate, rich history and culture
• The real estate investment can yield rental income
• Full free medical assistance for life for all family members in Turkish State Hospitals
• Free education and university reimbursement plans

The citizenship process from start to finish takes less than six months. CBPI provides a turnkey solution for the investor. As long as the investor issues a Power of Attorney (PoA), he or she does not have to be present to process the application. CBPI can coordinate all of the procedures including bank account opening, property transfer as well as all the steps outlined below.

In addition to the investment requirement of $ 250,000 for real estate or $ 500,000 for other cash alternatives, there is a $ 25,000 fee to cover local attorney fees, due diligence fees, filing fees, and administrative processing fees.

There are only two other two countries that have the E2 treaty with the US, and at the same time have a CBI program. These countries are Grenada and Montenegro.

For investors, who are primarily interested in obtaining the E2 visa, Turkey provides the most cost-effective alternative. Besides, to keep the passport and citizenship for life, the required holding period of the investment is only three years. Applicants can usually obtain the E2 visa for five years at a time renewable indefinitely.

The chart below compares the three programs with each other.