Turkish citizenship by investment: what has changed in 2024

The Turkish citizenship by investment program is still available to those interested.

On January 2, 2024, the updated terms of the program came into force, but the investment threshold was not increased and remained at $400,000.

A key change in the program is that the investor and his or her spouse must be physically present in Turkey to apply for citizenship. Previously, it was enough to submit documents through a proxy, but now the investor and his wife must be fingerprinted and have their passport photograph taken at the Turkish Migration Service. However, the investor’s minor children do not need to come to the country for this procedure.

Another important change concerns the status of the investor's spouse. To join the program, a spouse must now have a valid residence permit (RP) in Turkey at the time of application for citizenship. At the same time, you can add a spouse even after the investor and his children have already received Turkish passports. In such a case, the investor must obtain written consent from the other parent before submitting the application.

In addition to the updated rules, the Turkish Citizenship by Investment program continues to offer a number of attractive benefits, including: ppportunity to own real estate in Turkey for the entire period of validity of the passport without any restrictions on sale or rental ; Significant capital gains as a result of constantly rising property prices in Turkey. In 2023 alone, property prices in the country increased by 90% year on year.

Turkish citizenship also offers a number of benefits for travelers, including visa-free entry to 113 countries, as well as the possibility of obtaining long-term visas to Schengen countries and the United States. The process of obtaining Turkish citizenship takes on average 6 to 8 months, which is significantly faster than other countries offering investment programs.Overall, the Turkish citizenship by investment program continues to be an attractive option for those who wish to obtain a second citizenship, be able to own property in Turkey and travel visa-free around the world.