Published at: 13/03/2020 11:44 am
According to the Anadolu Agency, the Interior Minister Süleyman revealed that 5,111 applications were successful until now and there are more, almost 9,000 applications under the process. Moreover, 1,382 investors are waiting for the passports; their naturalisation process finished during the last weeks.
The foreign applicants invested USD 1,7 billion and when the remaining 1,382 investors receive their citizenship certification, the amount of the total investment will increase by USD 407 million. According to the recent number of applicants, the Minister added that the total amount of investment inflow could reach USD 2,7 billion.
The Turkish citizenship scheme became particularly successful when the government amended the original program and significantly decreased the necessary amount of investment in September 2019.
The fast inflow of foreign capital and the local investments in tourism flourished the Turkish real estate market. According to information from the Turkish Statistical Institute , nearly 1.35 million housing units were sold in Turkey last year, while up to 45,500 residential real estates were bought by foreigners, seeing a 14.7% increase compared to the previous year.
Main benefits of Turkish Citizenship by Investment Program
- The Turkish passport allows you to visit more than 100 countries, including Hong Kong, Brazil, Japan and Turkish citizens qualify for the US E-2 visa.
- The family members of the primary investor receive the passports and the certificate of citizenship at the same time.
- The minimum amount of investment is affordable and the investors control the project.
The Turkish government created four options for foreign investors to become citizens:
- Real estate purchase (at least USD 250,000)
- Invest in local manufacturing or business (at least USD 500,000)
- Deposit at least USD 500,000 in a local bank
- Create a minimum of 50 jobs
Click here to read all the detailed information about Turkish Citizenship by Investment or contact here our Turkish office!