Turkish Citizenship 2021: How to Get the Passport in 2 Months
As countries cancel their citizenship by investment programs, Turkey revives its real estate market by confirming its Turkish citizenship 2021 laws. Turkey is culturing the interest in its market by facilitating the process of buying a property in Turkey for foreign investors. At a time when its competitors are adding more challenges to investors, could Turkey’s market success be the result of its facilities?
Turkey’s real estate market has propelled significantly in the last years, ranking the country among the top in terms of advantageous real estate; ahead of Spain, Portugal, and Greece. Turkey’s superseded popular destinations in a short amount of time, and the country is projected to be rapidly moving up the list aiming for the top 3 slots.
Turkish Citizenship 2021
Turkey renews its citizenship by investment laws for 2021, ensuring foreign investment in its market continues to rise. The program was activated in 2016, where the government facilitated its citizenship by investment program offering foreign investors the right to obtain Turkish citizenship after purchasing property that amounts to $250,000. Investors have the option to buy a single property with this amount of money or several properties with a total sum of $250,000.
For property values beneath $250,000, investors get residency that allows them to easily access the country.
Citizenship by Investment: Turkey vs Europe
As the year comes to an end, countries like Malta and Cyprus cancel their citizenship by investment programs. Unlike Turkey, countries within the European Union offering citizenship by investment have to get approval from the EU members. The citizenship by investment in Cyprus and Malta affects other nations of the EU which is why member nations in union canceled the programs. The EU will have to inspect the programs in both locations before allowing it to resume.
With the Turkish citizenship on the other hand, the program affects non other than the country ensuring it runs smoothly without having to coordinate its laws to become compatible with other countries.
To earn Turkish citizenship by investment you have to buy property worth $250,000.
As for Malta, investment value shouldn’t fall under $1,410,000 whereas in Cyprus, getting approved for the citizenship by investment program requires investors to purchase property for a total value of $2,700,000. This is of course not eligible anymore as the EU canceled the program.
To get the Turkish citizenship, there is no stay requirement in the country after buying property. As an investor you have the flexibility to leave the country as you wish.
Whereas in the EU some countries can require around 5 to 10 years stay requirement to approve the investor’s applications for citizenship by investment.
However, before canceling their programs, both Malta and Cyprus didn’t set a stay requirement for investors.
Holding Your Property
Investors who want to invest in Turkey have to hold on to their property for 3 years. Which is a time period significantly shorter than Europe where investors must keep their property for a minimum of 5 years at best. Some countries in the EU have more rigorous rules regarding keeping your property. In Malta, before the program was canceled, you could get citizenship by the 5th year granted you didn't resell or even lease your property during this period. The same applies to Cyprus.
Turkish Citizenship 2021: Family Members
If you earn the Turkish citizenship, your children and spouse are legally eligible for earning the Turkish citizenship. However, similar to many EU countries, by law you cannot your foreign parents have Turkish citizenship on account of yours. They will have to invest in property worth $250,000 and keep the property for 3 years before being approved by Turkey’s citizenship by investment program.
When Can I Get the Turkish Citizenship 2021?
If you buy property in Turkey worth $250,000 you are eligible to Turkish citizenship right away. You can start your application process immediately and get citizenship in 2 months. Granted of course, that you cannot legally resell your property for 3 years from date of purchase.
Our team at Al Huda Real Estate will carry out this process for you as part of our post-sales services. Our assistance with your Turkish citizenship programs will be entirely free. We’ll help you set out your application, prepare your documents, and ensure that the process runs very smoothly.
Can I Rent Out My Property?
Unlike in the EU, you can obtain the Turkish citizenship through real estate but have the flexibility to rent it out. Our real estate consultants at Al Huda recommend investing in several properties rather than one. Wherein if you choose to live in Turkey, you can allocate one of your properties for personal use. This gives you the opportunity to lease out your remaining property earning your return on investment in a short period of time. Rather than putting your profits on hold for 3 years if you wish to use your property.
If you’re all together unwilling to reside in Turkey, you can put your property for rent and earn your ROI through rental returns.
How Can I Get the Most Profit Before Reselling My Property?
Naturally, if you can’t resell your property for 3 years, you’d want a plot hole that could give you fast returns during this period.
You can either:
Rent Your Property to Tourists
Renting for tourists is the fastest way to making money through rental returns. This practice is growing in popularity and makes it suitable for investors to leverage the 3 years waiting period before they can legally resell property.
If you want to rent for tourists, make sure you strategically choose areas that are appealing to tourists. These include:
Buy property in Taksim or districts near Taksim as it’s among the most popular attractions for tourists with guaranteed short-term ROI.
Beyoglu is just 15 mins by foot to Taksim
Rent Your Property for Long-Term
If you don’t want to rent your property to tourists, and instead want to find long term tenants but keeping a satisfactory ROI, invest near big projects.
The Bassin Express is among the popular investment locations due to the massive projects its hosting. It’s also one of the main roads leading to the new Istanbul Airport. The area is considering an economic hub as well, so renting out your property in the area will give you the returns you want.
How Many Countries Can Turkish Citizens Visit Visa-Free?
You can visit up to 125 countries visa-free or via visa-on-arrival with a Turkish passport. It’s ranked 39th globally and is considerably a strong passport.
Turkish citizens can apply for EU visa and the process can be very easy as well. Overall, the Turkish passport can allow you to flexibly move across borders.
You can watch the Turkish citizenship 2021 by buying property or several properties for a sum of $250,000. Granted you don’t resell your property for 3 years agree the purchase. You can start your Turkish citizenship procedures right after your purchase, and are likely to get your Turkish passport by 2 to 3 months.
Unlike citizenship by investment programs in Europe, you can put your apartment up for rent before reselling it. This gives investors the advantage to earn quick returns without compromising
On the Turkish Citizenship.
Contact our Real Estate Consultants for Turkish Citizenship
Contact the biggest experts in real estate for a free consultation. We’ll answer your inquiries and help you find the right property based on your investment purposes. As to the Turkish citizenship, our experts will carry out these procedures for you post-purchase. We continue to offer our services for years after the initial purchase.