New Turkish Citizenship by Property Investment Restrictions

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There are six main routes to Turkish Citizenship by Investment. By far the most popular path is via Turkish Citizenship by Property Investment. Yet recent developments introduce new restrictions, which we detail below.

Changes to Turkish Citizenship by Property Investment Requirements

The T.C. Resmî Cumhurbaşkanlığı Gazete is the Official Gazette of the Republic of Türkiye. This august publication shares the latest legislation. Such as on December 12, 2023, with the announcement of a new presidential decree.

Here are all the details: “The phrase “immovable property in foreign currency” in subparagraph (b) of the second paragraph of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, which was put into force by the Decision of the Council of Ministers dated 11/2/2010 and numbered 2010/139, is replaced by “condominium or flat in foreign currency”. The land qualification changes to “immovable property on which an easement has been established or a structure exists on it.””

Let’s translate this legalese into something that everybody can understand. You can’t buy plots of land anymore to qualify for Turkish citizenship. Now you must invest in actual real estate, such as a flat or a house. Turkish President Recep Tayyip Erdoğan’s signature triggers the degree coming into effect.

The RIF Trust Take on the New Decree

The new restrictions don’t disturb our Regional Managing Director Mohammad Motavasel too much. He says there is no need for investors to worry, as “this legal change will only affect one in 10 Turkish Citizenship by Property Investment applicants.”

“90% of our clients favour brick and mortar over empty land”, continues Mohammad. “They want something more structured rather than something in development.” So, these new restrictions will mean that the 10% who prefer to invest in plots will have to switch to a more solid form of investment.

Yet while the changes may be minimal, they might be a sign of things to come. Turkish Citizenship by Investment could become more restrictive. The sooner you apply, the smoother your path to acquiring Turkish nationality.

Is Turkish Citizenship by Property Investment For You?

As our Regional Managing Director points out, don’t let this latest development deter you. This change impacts the majority of investors in a very minor way. So, if you want to know more about the programme in general, don’t delay and contact RIF Trust today.