COUNTRY PROFILE
• Capital: Ankara
• Population: 85.8 million
• Area: 779,452 sq km (300,948 sq miles)
• Major language: Turkish (official), Kurdish
• Major religion: Islam
• Life expectancy: 72 years (men), 79 (women)
• Currency: Turkish Lira
• Exchange Rate (as of Nov 2023): US$ 1.00 = 28.33 TRL/TRY
Turkey’s citizenship by investment was announced in 2016to trigger foreign direct investment and improve its real estate sector. Under this program, the investors are free to decide on the various means they want to contribute to the Turkish economy. One of the most popular investment options in Turkey is real estate, which provides good returns on investment. The initial cost of the program was$1 million, which dropped to $250,000, and currently stands at $400,000.
| Type of Program | Citizenship by Investment |
| Type of Investment’s |
1. Property Purchase: 2. Capital Investment 3. Funds Investment 4. Bank Deposit 5. Employment |
| Minimum Investment |
Property Purchase: Buy a property by investing USD 400,000 and hold the investment for 3 years. Invest $500,000 in Turkey and hold the investment for 3 years Invest $500,000 in Turkey funds or REITS and hold the investment for 3 years Deposit $500,000 in a Turkish Bank and hold the investment for 3 years Create jobs for at least 50 people and provide them with social security for a minimum of 3 years |
| Dual Nationality Permitted | Yes |
| Minimum Stay | No |
| Capital Gains Tax | 15 – 35% |
| Personal Income Tax (Non-residents) | 15-35% |
| Corporate Tax | 20% |
| Property Tax | One Time Stamp Duty @4.4%. Annual Property Tax @0.6 -1%p.a. |
| Processing Time | 2-3 Months |
| Passport Validity | The first passport issued has a 5 year validity to ensure the applicant meets the 5 day residency for renewal & oath-taking. Thereafter, a 10-year passport is issued. |
| Restricted Nationalities | Syria |
| Visa Free Travel | 116 Countries |
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