Turkey Istanbul

In a recent regulatory update, the Turkish government has announced significant changes to the requirements for foreign nationals seeking Turkish citizenship through investment. According to the Interior Ministry’s Directorate of Migration Management, starting in 2024, prospective investors will be required to pay a minimum of $600,000 on real estate to qualify for the Turkish Citizenship by Investment (CBI) program. This marks a notable increase from the previous threshold of $400,000. Although an exact date has not been published, industry experts suggest that these changes will likely be implemented on January 1st, 2024.

The $200,000 price hike aims to adjust the investment landscape, ensuring that those seeking citizenship through this avenue make a more substantial financial commitment to the Turkish economy. Turkish citizenship by investment has been a popular choice among global investors due to its relatively accessible requirements and its strategic location between Europe and the Middle East. With these changes, the government appears to be striking a balance between welcoming foreign investors and ensuring that the economic benefits align with the privileges granted through citizenship.

Prospective investors and those currently considering Turkish citizenship should move ahead promptly with any pending investment plans. There is now less than one month before these changes are likely to take effect, providing limited time but still enough to finalize an application if action is taken swiftly.

The evolving nature of investor visa regulations globally underscores the importance of staying informed in an ever-changing market and being ready to proceed promptly when deciding on a program. Governments often announce last-minute changes, leading to a sudden influx of applications. Residency Global’s expert team can ensure a smooth and efficient application process for investors ready to move forward. Contact our team today to initiate your application.

Updated Jan 2024 The government is yet to confirm an official start date for this change in legislation. Several industry experts are now suggesting it could be postponed until March 2024. Stay tuned for further updates.

Contact us today to explore the possibilities of citizenship abroad with Residency Global!