New Restrictions on Turkish Citizenship through Shared Property Ownership
Are you considering buying a shared property in Turkey as a means of obtaining Turkish citizenship? Recent changes in Turkish legislation make this route unavailable. Let’s dive into how the new restrictions affect shared property ownership for Turkish citizenship and explore other investment options available.
How Recent Changes Affect Shared Property Ownership for Turkish Citizenship
Previously, it was possible for multiple buyers to collectively purchase a single property and qualify for citizenship. However, Turkey’s citizenship-by-investment program now requires that each individual applicant invests a minimum of $400,000 in real estate in Turkey. The change was made to make the citizenship program more attractive to high-net-worth individuals and encourage more substantial investment in Turkey’s property market. Unfortunately, this means that those looking to obtain citizenship through a shared property investment are out of luck.
Other Options Available for Turkish Citizenship
While shared property investments are no longer an option, there are still many ways to qualify for Turkish citizenship. One option is to invest in a single property that meets the minimum investment threshold of $400,000. Another option is to invest in a Turkish business or deposit a significant sum of money in a Turkish bank account.
It’s worth noting that the Turkish citizenship-by-investment program is a relatively new initiative, having been introduced in 2017. Since then, it has proved popular among investors from around the world, thanks to its fast processing times and relatively low investment threshold compared to other countries.
In conclusion, if you’re considering investing in Turkey with the hope of obtaining citizenship, it’s essential to understand the current requirements of the program. While shared property investments are no longer an option, there are still many ways to qualify for Turkish citizenship by investment. By doing your research and seeking the advice of a trusted advisor, you can find the best path for you and your goals.
Contact Prestij Consulting for expert guidance on obtaining Turkish citizenship through investment.
