Unexpected Hike: Residence Permit by Investment in Turkey Now at $200,000

In a surprising move, Turkey has escalated its residence permit by investment threshold to $200,000, a development unanticipated by many. This comes in the wake of the housing crisis that has surfaced in the country recently, reflecting a strategic adjustment rather than an opportunity-centric approach.

Unpacking the 2023 Update

Turkey’s initiative to augment the investment threshold for obtaining a residence permit is seen as a step to mitigate the ongoing housing crisis in the nation. Previously, the investment amount was set at $75,000 for major cities and $50,000 for smaller cities. However, the new amendment uniformly raises the bar to $200,000 across all cities, signaling a substantial policy shift.

Residency Through Property Investment

The latest amendments now necessitate a property purchase of $200,000, regardless of the city, for foreigners to acquire a temporary or one-year residence permit in Turkey​.

Comparing Residency and Citizenship Investment Thresholds

Despite the hike in investment for residency, the citizenship by investment program maintains its threshold at $400,000, providing a separate avenue for those aiming for a more permanent status in Turkey​.

Implications for Potential Investors

Although this sudden increment in investment threshold aligns with the efforts to address the housing crisis, Turkey’s residence permit by investment scheme still stands as one of the most affordable on the global stage. It continues to provide a competitive option for investors seeking to establish a foothold in Turkey and enjoy the benefits that come with residing in this transcontinental realm.

In Summary

Turkey’s tactical maneuver to elevate the investment threshold for residency underlines the nation’s adaptability in policy-making to address domestic economic challenges. While navigating through the housing crisis, the Turkish government manages to maintain an attractive proposition for international investors, making Turkey’s residence permit by investment scheme a viable and economical choice amid global alternatives.

Check other pages about Residence Permit in Turkey

Applying for a Residence Permit in Turkey in 2023: New Rules

Turkish Residence Permit: Benefits, Requirements, and Who Needs it