Why Turkey’s Citizenship by Investment Is HOT

I'm Andy (Nomad Capitalist). Over the years we've helped dozens of clients explore citizenship options, and recently Turkey’s citizenship-by-investment (CBI) program has been getting a lot of attention. In this post I’ll walk you through why people are increasingly choosing   Turkey, how tWhy Turkey’s Citizenship by Investment Is HOThe program works, what to watch out for, and how it fits into a broader multi-jurisdictional plan.

Quick overview: what the Turkish CBI program offers

Put simply: invest in qualifying real estate (the commonly cited threshold is $400,000) and you can obtain Turkish citizenship in under 12 months. The timeline depends mostly on how quickly you find a property and complete the paperwork. Once the property purchase clears the required appraisal and currency conversion rules, you proceed through residency, background checks, and citizenship grant.

What the $400,000 figure really means

• The property value must meet appraisal requirements and be converted into USD at the central bank rate on the filing day.
• If you buy resale, appraisals can sometimes come in lower because of fewer comparables — which is why many buyers end up spending a bit more than $400,000 in nominal terms to make the appraisal work.
• Buying new developer units often makes appraisal mechanics straightforward, but developer sales typically include large commissions for agents. That explains why overpriced new builds are commonly pushed on foreign buyers.

Resale vs. new build: commissions, risk and what I recommend

Developers pay big commissions to brokers selling new units — sometimes 5–15% or more. That incentive structure can lead to buyers getting steered toward overpriced new projects. My personal approach, and what we recommend to clients, is to favor the resale market when possible and to avoid deals where someone pockets a huge hidden commission.

That often means you’ll pay slightly above the $400,000 minimum in sticker terms, but you avoid the downside of mass-marketed new builds that can be hard to re-sell at the same price three years later (there’s a three-year minimum that affects saleability).

What the Turkish passport actually gets you

A Turkish passport is not a European Union passport — you won’t get visa-free travel to the Schengen area, nor automatic visa-free access to the US, Canada, Australia or New Zealand. That said, Turkey’s passport performs well across Latin America, much of Asia, and many Caribbean and African countries.

Compared to Caribbean CBI passports, Turkey can be stronger in Asia and often provides broader immediate regional mobility. So it’s not a one-to-one replacement for a top-tier European passport, but it fills a different and very useful niche.

Why more people are picking Turkey right now

• Geopolitical diversification: People want one foot in the West and one in the East. Turkey sits at that intersection and is actively positioning itself within a more multipolar world (including moves toward BRICS dialogue), so it appeals to investors who want geopolitical balance.
• Regional heft: Turkey is a NATO member with significant regional influence and a growing manufacturing base. You’ll see Turkish-made TVs, furniture and other manufactured goods across the region.
• Affordability and upside: Real estate in Turkey is still relatively affordable compared with many Western markets. Prices have risen since 2019–2020, but there’s still value in many neighborhoods and cities beyond Istanbul, like İzmir.
• Program mechanics: Fast processing (often under 12 months), and the program’s family cost profile is attractive because the purchase threshold doesn’t scale with family size the way donation-based programs do.
• Complementary with other passports: Many clients pair a Turkish passport with a Caribbean citizenship to get more global coverage — Caribbean passports often provide easier entry to Europe, while Turkey strengthens access elsewhere.

How Turkish CBI compares to Caribbean CBI and European golden visas

There are trade-offs:

• Caribbean CBI historically cost less (donations as low as $100k in the past), but prices have climbed across many programs under international pressure — $200k+ is common now. Donations are non-recoverable; real estate in Turkey is an asset you can potentially sell later.
• European golden visas (Portugal, Spain, etc.) offered residency paths to eventual citizenship with real estate options, but rules have tightened. Portugal removed the easy real estate route for many buyers. European states have pushed back against programs that inflated housing markets.
• Turkey provides a middle ground: a real estate-backed citizenship option in a geopolitically relevant country, often at a price point that can compare favorably when you factor in opportunity cost and potential future resale value.

Common objections and misunderstandings

"But Turkey is a Muslim country"

Religious identity isn’t synonymous with political or social homogeneity. Turkey is multicultural and cosmopolitan in many regions. If your priority is a passport as a contingency — not necessarily a place you plan to live full-time — the label of “Muslim country” is an oversimplification and often driven by misconceptions.

Expropriation risk

People worry about property being taken. In practice, for small residential purchases used to secure CBI, the actuarial risk of expropriation is low. Countries that routinely expropriate major assets typically target large commercial holdings, not small condos purchased by foreign investors. That said, always do due diligence and use trusted legal counsel.

Political leadership and stability

Your passport is a contingency, not a life sentence. Most people don’t abandon their country because a new leader is elected. If you’re not living in Turkey and not paying tax there (unless you opt into Turkish tax residence rules), who’s in charge day-to-day is less important than the reliability of the legal system, consular support, and the country's global relationships.

Practical details and pitfalls to watch

• Appraisal/currency rules: The purchase must meet appraisal thresholds and convert to USD at central bank rates on filing day. Factor this into your budget.
• Hold periods: There’s typically a three-year restriction on selling the property after citizenship is granted. If you hold for five years you can benefit from no capital gains tax on the sale in many cases — always confirm current tax rules with a local specialist.
• Military service: If you pass Turkish citizenship to future children, review military service obligations. In many cases there are options to defer or pay to avoid service; check this with counsel before finalizing plans.
• Existing passports and compliance: Some institutions (banks, Swiss or otherwise) may ask about new citizenships. Always check whether acquiring Turkish citizenship could affect other relationships or obligations.
• Avoid large hidden commissions: Work with advisers who charge transparent fees for advice rather than relying solely on brokers who make big backend commissions from developers.

Where Turkey fits in a diversification strategy

Think about passports as pieces of a portfolio. A single Western passport may be sufficient for many, but for those who want to hedge political, tax and mobility risk, pairing different types of passports makes sense. Turkey offers a regional, geopolitical foothold that complements Caribbean passports or European options.

For entrepreneurs and investors looking to optimize freedom, mobility and asset protection, Turkey can be a tactical addition: one Western flag, one Eastern flag — greater resilience in a multipolar world.

Final takeaways

1. Turkey’s CBI is attractive because it combines a real-asset route to citizenship, relatively fast processing, and useful regional mobility.
2. Resale purchases often make sense for buyers who want to avoid developer markup and misaligned commissions, but you may need to budget above the $400,000 minimum to satisfy appraisal rules.
3. Compare Turkey to Caribbean CBI and European golden visas on the basis of cost, travel utility, and long-term goals — sometimes owning both a Caribbean and a Turkish passport gives the best coverage.
4. Use transparent advisers, conduct proper legal and tax due diligence, and think through family implications such as military service and tax residency.

“If you want one foot in the West and one foot in the East, Turkey is increasingly a logical choice.”

Next steps

If you’re considering a second (or third) passport, explore all pathways: descent, naturalization, golden visas, marriage and citizenship-by-investment. Each client’s situation is unique — timeline, tax events, family composition, and mobility needs all change the optimal choice. Do your homework, consult specialists, and prioritize transparent fees and clear incentives when selecting advisers.

If you want a practical walkthrough of the Turkish option within a broader plan — and a clear breakdown of commissions, appraisal mechanics, tax implications and residency requirements — seek qualified legal and tax counsel in Turkey and a trusted global adviser who can coordinate the whole strategy.