During the time of Corona, more than two thousand foreign investors obtained Turkish citizenship
Since 2018, the objectives of foreign investors in the field of real estate investment have changed, especially after the revision of laws, the most important of which is the possibility of obtaining Turkish citizenship in exchange for a real estate investment of a minimum of 250 thousand US dollars.
How many foreign investors get Turkish citizenship after the 2018 amendments?
According to the latest data published by the Turkish Statistics Institute, the number of investors who obtained Turkish citizenship by investment reached 9,000 just two years after the date of approval of the amendments to the law on obtaining Turkish citizenship in exchange for investment. This law is considered a quantum leap in the history of Turkish legislative texts related to Turkish citizenship, especially in its aspect related to real estate investment.
The number of foreign investors who obtained Turkish citizenship in return for investing reached 9,011 foreign investors since the announcement of the naturalization law for foreign investors in September 2018, including about 2,000 investors who obtained Turkish citizenship during the first seven months of 2020, despite the freezing of flying and suspension of activities. Partly because of the spread of the Corona epidemic in Turkey and the whole world.
Those who obtained Turkish citizenship were distributed in return for a real estate investment during the last two years as follows:
- More than 2,700 foreign investors obtained Turkish citizenship from September 2018 to January early 2019.
- More than 4,311 foreign investors obtained Turkish citizenship through real estate investments during the year 2019.
- More than 2000 foreign investors obtained Turkish citizenship in return for a real estate investment from January 2020 to July 2020.
What is the volume of foreign investments in Turkey in order to obtain citizenship?
Since it was officially announced that foreign investors were granted the right to obtain Turkish citizenship in Turkey in July of 2016, there has become a great demand for buying apartments for sale in Turkey or buying a property in Turkey in general. In this period, the legislative authorities carried out many legal reforms to facilitate Turkey's real estate investment.
Regarding the volume of foreign investment in Turkey, its value has exceeded 3 billion US dollars, to reach exactly 3 billion 261 million and 500 thousand US dollars since the decisions of 2018. These statistics prove the extent of the Turkish government's incentives to foreigners to own and obtain Turkish citizenship quite easily.
What are the facilities offered to obtain Turkish citizenship in return for an investment?
The Turkish government has provided foreigners wishing to invest in obtaining Turkish citizenship all the necessary facilities, whether by reducing the investment amounts or by enumerating his options, as follows:
- Buying a property in Turkey worth 250 thousand US dollars on condition not to sell it for three years.
- A bank deposit in a Turkish bank with a minimum value of $ 500,000.
- Make an investment in Turkey worth at least 500 thousand US dollars.
- Purchasing government bonds with a minimum amount of $ 500,000.
- Guarantee of employment of at least 50 Turkish citizens.
It should be noted that the evaluation and calculation of the value of buying a property in turkey or investment are according to the exchange rate in the Turkish Central Bank on the date of purchasing the property or financial asset.
Why is obtaining Turkish citizenship a good choice?
Turkey has witnessed significant growth in the number of those who intend to become naturalized due to several advantages, the most important of which are:
- Get the same rights that a Turkish citizen holds.
- The great and continuous economic development that Turkey is witnessing, especially within the framework of Vision 2023.
- Legal legislations that guarantee the rights and freedoms of Turkish citizens and those who acquired their nationality.
- The Turkish passport strength enables its holder to enter more than 120 countries in the world without or with an entry visa at the airport.
- Turkey has a strategic geographical location, as it is located in the middle of three continents (Africa, Asia, and Europe), which made it a dynamic meeting place and a connection point between more than one continent at the same time.
- The great growth in the number of foreigners immigrating to Turkey, whether to study, live, or invest, has created a new and profitable consumer market, especially the market for Arab foreigners present in abundance.
- The nature of life in Turkey, which fits both eastern and western customs at the same time.
How does Turkey face the challenge of the transient crisis on its economy?
No one denies that tourism and exports are the backbones of the Turkish economy. Still, in recent years the real estate sector has emerged prominently and effectively in the Turkish economy during the last ten years.
Many foreign investors, such as Iraqis, Iranians, Russians, and Afghans, buy apartments for sale in Istanbul and apartments for sale in Turkey. There are also those looking for cheap apartments for sale in Istanbul and apartments for sale in installments in Istanbul.
Given the importance of the real estate sector in Turkey, construction companies have resorted to offering effective alternative plans to maintain the process of selling real estate in Turkey, such as reducing the prices of apartments in Turkey that cover the cost of construction only.
Construction companies in Turkey have also rushed to open the door to remote ownership, i.e., buying the property online directly after the aviation freeze announcement, which in one way or another contributed to maintaining activity in a vital sector that Turkey relies on a lot.
According to specialists in real estate prices in Turkey, procedures that facilitated the Turkish economy's movement and mitigated the effects of its contraction, especially after the gradual return of life and the resumption of air traffic again towards countries of the world.
Experts attribute the reasons for the Turkish economy's resilience and improvement after the pandemic has gradually passed to the plan set by the Turkish government to confront the negative effects of the Corona epidemic.