Turkey Changed the Turkish Citizenship Investment Amount
According to the new spoken announcement by the Ministry of Interior, Turkey increased the Turkish citizenship investment amount to $400.000! This will be the second change to the law regarding real estate investment in 2022. To get more information about changes to that issue, you can check our related article, “Conditions for Obtaining Turkish Citizenship 2022 Updated.“
Is Turkish Citizenship Investment Amount Changed?
Well, yes. After 4 years, this amount is changed due to President Erdogan’s decision at the Presidential Cabinet meeting on April 12, 2022. According to the Ministry of Interior, on April 13, 2022, the real estate value for Turkish citizenship applications will be increased from $250.000 to $400.000.
Within the scope of this decision, the Turkish government aims to amend the 20th article of the Regulation on the Implementation of the Turkish Citizenship law’s paragraph 2, clause B, which contains exceptional provisions regarding the acquisition of Turkish citizenship. As of 13.05.2022, the new rules for Turkish citizenship by investment were published in the Official Gazette.
According to the Official Gazette, those who have purchased a property worth at least $400.000 or equivalent in foreign currency, provided that an annotation is placed in the land registry that it will not be sold for 3 years, will be able to acquire Turkish citizenship, as determined by the Ministry of Environment, Urbanization and Climate Change. The new rule will take effect on 13.06.2022.
Also, with this regulation, the Turkish government announced a fourth way to get Turkish citizenship. According to this person who wants to get Turkish citizenship needs to invest at least $500.000 or its equivalent in foreign currency into the private pension system, provided that the amount remains in the system for three years.
How Much Is the New Turkish Citizenship Investment Amount?
The new Turkish Citizenship Investment amount changed from $250.000 to $400.000.
I Bought Real Estate Before This Change. What happens now that the law has been changed?
Please note that this situation will not affect those who are thinking of buying real estate for citizenship or those who have already applied until 13.06.2022 (the date that the law will be effective). After the law is effective in the Official Gazette, the new buyers will need to pay the new amount- that is $400.000.
However, if you are thinking of investing in real estate in Turkey but are unsure, you can take advantage of investing in property and get Turkish citizenship for $250.000 before the law changes.
If you want to consider your options, you can contact us anytime and our investment consultants will help you find the right investment for you. Invest before the change and plan your next step with us!
Is There a Change in the Residence Permit Process?
No, there won’t be any change. The changes to the Turkish citizenship program will not affect the residence permit processes or the rules for obtaining residence on real estate.
If you have any more questions about the Turkish Citizenship investment law, you can contact us any time! You can also check out our youtube channel. We have informational videos about life in Turkey, investment in Turkey and Turkey in general.
You can go to our youtube channel by clicking on this link —> https://www.youtube.com/c/InvestoGlobal/videos.
