The Ministry of Internal Affairs recently announced an increase in the minimum investment required for the Turkish Citizenship by Investment Program’s real estate option, raising it from US $250,000 to US $400,000. The Presidential Cabinet made this decision on April 13, 2022.
Additionally, applicants must now retain ownership of their property for at least three years. This new rule ensures that individuals do not sell their property immediately after purchasing it.
The government plans to amend paragraph 2, Clause B of the 20th article in the Regulation on the Implementation of the Turkish Citizenship Law to reflect the updated investment amount. Once the government publishes these revisions in the Official Gazette, the new rules will take effect.
Applicants and legal practitioners are still waiting for clarification on how these changes will affect those who already purchased property under the previous amount. These individuals may still be waiting for their deed transfer or preparing to submit their citizenship applications.
