It wasn’t long ago that many countries offered a citizenship-by-investment programme. By 2026, Malta, Spain, and Portugal have closed their programmes. Those that do remain open have repriced. The last bastion retaining its original terms for a second passport is Turkey.
In the last 3 years:
- Portugal’s passports via property investment closed, and the naturalisation period extended to 10 years.
- Spain closed their golden visa programme as of April 2025
- Malta’s investment programme closed in April 2025 following a European Union Court of Justice ruling.
Any European Union country is effectively barred from having a passport by an investment programme as it was deemed that such a process commercialises EU citizenship. With Malta’s programme closing, there are no more EU countries with a passport by investment programme.
For those countries with an active programme, the pricing has been increased or offer no real estate opportunities post-passport acquisition. The final frontier of the citizenship-by-investment approach lies in Turkey/Türkiye.
As Turkey is only an EU candidate, it is not bound by the strict regulations of the EU. The CBI programme of Turkey is selling the citizenship of just Turkey alongside Turkish real estate instead of one or the other. As such, Turkey has remained as the CBI’s final frontier.
Reviewing the Turkish Citizenship-by-Investment Programme
Turkey’s CBI programme has a property value qualification minimum of #$400.000 #USD. This value is verified by a licenced government appraisal team and not based on proposed market value. CBI programme investors should be aware, insufficient research may find their investment property does not meet these basic criteria.
Once value is confirmed, CBI programme investors are subject to a 3-year no-sale period for the qualifying title deed properties. However, the properties can be rented out to still generate some income during the hold period. Selling after the 3-year period allows investors to regain capital spent without affecting their citizenship process or those of their dependents.
In contrast, other countries that offer similar programmes only offer a residency permit and citizenship is subject to naturalisation by residency terms. Countries that do offer citizenship do so at a price with no opportunity to recoup the invested funds.
Successful applications seen by the over 51,750 principal investors with Turkish citizenship and over 174,000 dependents can be accredited to this programme since its inception in 2017. Turkish Riviera Homes has helped countless applicants through all stages of their application and contributed to this growing number of successful Turkish citizenship applications.
Property Investment Changes in 2026
District Restrictions Lifted
Foreign investors looking to buy property in Istanbul or Antalya in 2021 were greatly restricted with popular neighbourhoods completely closed to foreign buyers. As of June 2026, the district restrictions have been lifted, all zones across Turkey are NOW OPEN . This allows buyers to obtain ikamet, the Turkish residency permit, for addresses in these previously closed districts.
It should be mentioned that decisions on “open” or “closed” districts for ikamet application is an administrative process and can easily be closed and reopened in the future. Deciding on residing in a top district later could run the risk of no longer being viable for ikamet application.
- istanbul districts now open include: Fatih, Esenyurt, Şişli, Beşiktaş, Sarıyer and Beyoğlu
- Antalya- Alanya districts now open include: Hurma, Liman, Sarısu, Mahmutlar neighbourhoods.
20-Year Foreign Income Tax Exemption
Introduced in early 2026, this new law provides foreign investors a unique opportunity that pairs well with property investment. CBI programme investors can protect overseas income from additional taxation for 20 years once residency in Turkey is established. A key component to the tax exemption programme is having a Turkish domicile. Obtaining Turkish citizenship is an excellent indicator for establishing a domicile and improves the tax exemption application.
Comparable programmes in Europe are subject to fees of anywhere between $100,000 to $300,000 USD whereas Turkey keeps the 0% Foreign Income Tax completely free once granted.
Why Turkey is the CBI Programme’s Final Frontier
Though Turkey has raised the qualification minimum for CBI properties to $400,000 USD, it has essentially remained the same since the beginning: Turkish citizenship is granted quickly upon investing in Turkish real estate.
The citizenship-by-investment programme does not force a now extended naturalisation process like Portugal’s, nor does it leave investors with nothing more than a passport like the Caribbean approach does. Turkish CBI applicants do not have to choose between citizenship and property ownership. In fact, investors could turn the idle no-sale waiting period into a profitable one and come away with more money than their initial investment amount once capital is recovered from selling the property.
Investors at any stage of the application process can benefit greatly from reaching out to experts like those at Turkish Riviera Homes. Their insight into the programme and experience in the domestic market, up-to-date information on ikamet district availability make the process straightforward and manageable. Connect with the team today to find the best path forward for you.
Frequently Asked Questions
- Does Turkey still offer a Citizenship-by-Investment (CBI) Programme?
Yes, Turkey/Türkiye remains one of the few programmes remaining and the only in Europe to offer both citizenship and property ownership.
- Is there a residency naturalisation period with the CBI programme?
No, the Turkish CBI programme does not have a naturalisation period. Property purchased under this programme must go through a 3-year no-sale hold period before citizenship is approved.
- Are there any regional or district restrictions for foreign investors?
As of June 2026, Turkey has all zones open for foreign investors, including throughout Istanbul and Antalya and other cities . ikamet applications(Residential permit ) are no longer limited to certain districts for foreigners. Though the status of available districts can easily change and, as such, should be checked instead of assumed.
- Does Turkish Citizenship through CBI instantly qualify investors for the 20-Year Foreign Tax Exemption?
No, there is no automatic qualification. While there is overlap in the criteria for both the CBI and the tax exemption programme, they each require a separate application. Having Turkish citizenship and property satisfy key criteria and helps strengthen the application for the foreign-income tax exemption.
