Turkey has become a top choice for international migrants due to its clear legal framework, legitimate operational processes, and the dual advantages of low entry barriers and high value. As the 11th largest economy in the world, Turkey's economy has steadily grown, with an average annual GDP growth rate of 5.4% from 2003 to 2023, surpassing European countries like Poland, Romania, and Bulgaria. Turkey's foreign exchange reserves are also substantial, reaching $125.5 billion, reflecting its strong economic power.
According to the Central Bank of Turkey, from 2019 to 2023, Turkey attracted $31.33 billion in foreign direct investment, with 27% of this coming from foreign real estate purchases. This indicates a strong appeal of Turkey's real estate market to international investors. The latest data from the OECD forecasts a global GDP growth rate of 2.7% in 2024, while Turkey's growth rate is expected to be 2.9%, ranking second among OECD member countries and further demonstrating Turkey's robust economic performance.
The Knight Frank Global House Price Index for Q1 2024 shows that house prices increased by an average of 3.6% across 56 countries and regions globally, while Turkey's increase was a remarkable 52%, leading globally. This performance has kept Turkey at the forefront of house price increases for several quarters, attracting more international investors.
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According to the Turkish Statistical Institute, the main source countries for foreign real estate purchases in Turkey are Russia, followed by Germany, the UK, and the US. For wealthy individuals seeking safe havens and overseas investment opportunities, Turkish real estate investments are not only convenient but also cost-effective.
Additionally, Turkey leads Europe in rent increases. According to Eurostat, from May 2023 to May 2024, rents in Turkey surged by 125.1%, far surpassing other countries. Although Turkey has a 25% cap on rent increases, this cap expired on July 2nd, and the finance minister has stated that the rent increase limit will not be extended.
Turkish real estate projects offer unique advantages, such as obtaining citizenship directly upon purchasing property. After holding the property for three years, it can be sold without affecting the acquired citizenship, effectively granting a nationality.
Turkish passports also offer substantial benefits. They allow visa-free travel to over 110 countries and regions, including 90-day visa-free access to Japan and 30-day visa-free access to Singapore, Thailand, and Hong Kong. This is highly advantageous for business and tourism. Through Turkey's investment citizenship program, applicants, their spouses, and unmarried children under 18 can obtain Turkish citizenship, and children can attend international schools for quality education.
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Moreover, according to the Ministry of Education's policy, international students holding Turkish passports can bypass written exams for admission to some top domestic schools, facilitating an educational advantage. Turkish passport holders can also apply for the US E2 visa, which offers low cost and high approval rates for US visas. Additionally, spouses can work in the US, and children can benefit from public education.
Turkish passports also offer strong asset protection. As a financial free port, Turkey's foreign exchange policies are completely open and unregulated. Turkey is a G20 and NATO member, maintaining high confidentiality regarding citizens' personal data.
Turkey's corporate tax rate is 20%, and personal income tax is progressive, ranging from 15% to 35% depending on income. The tax laws are transparent and meet international standards. The application conditions are straightforward, requiring no academic qualifications, business background, or complex proof of funds. The requirements are:
1. Purchase property in Turkey valued at over $400,000
2. Deposit $500,000 in a Turkish bank
3. Invest over $500,000 in a Turkish fund
