Turkish Citizenship by Investment 2026: Advantages, Disadvantages and Risks of Each Investment Type

In Türkiye there is no single option that suits every investor seeking citizenship by investment. Real estate offers use and rental income but carries sale and valuation risk. Bank deposits require less day-to-day management; however, held in Turkish lira, they carry exchange rate, inflation and reinvestment risk. Funds may provide professional management, but the content of the fund, its costs and its exit conditions change the result. Fixed capital and employment routes are meaningful for investors who want to run a real business in Türkiye.

A sound comparison is made by considering together the minimum investment amount, the total cost, the conditions that must be maintained for citizenship, and whether the investment can be turned back into cash at the end. Finding an investment eligible for citizenship does not mean that it is profitable or that the principal is guaranteed.

This article has been prepared for foreigners planning a new investment within the framework of the regulations reviewed on 12 October 2026. For investments made on earlier dates, the legislation and transitional provisions in force at the time of that transaction must be reviewed separately. The explanations are general information; whether a specific property, bank product or fund is eligible is determined on the basis of its own documents.

Does making an investment automatically grant citizenship?

No. Acquisition through investment is part of the exceptional citizenship system under Article 12 of Law No. 5901 on Turkish Citizenship. Determination by the relevant authority that the investment condition is met, the residence and citizenship applications, and the assessment on grounds of national security and public order are separate stages. The decision to grant citizenship is taken by the President. Article 10 of the Law also provides that meeting the required conditions does not give the person an absolute right. [1]

For this reason, a statement by a seller, a bank or an intermediary that "citizenship is certainly obtained once you invest" creates no legal guarantee. A certificate of eligibility is a determination of the investment condition; it does not replace the citizenship decision. A private law contract cannot remove the State's assessment.

The legal scope includes the foreign spouse of the investor and the investor's own or spouse's foreign minor or dependent children. However, the family relationship, age or dependency must be documented and each person's file must be assessed. It should not be assumed that all adult members of the family are automatically covered. The need for notarization and translation of foreign documents is determined by the country where the document was issued and by applicable agreements. [1] For details, see the article Settling in Türkiye with a Child from a Previous Marriage.

For the general framework of the application stages, see also our guide to acquiring Turkish citizenship through investment. The subject of this comparison, however, is the choice of investment, its protection and its economic consequences.

How are the investment types compared in one table?

Seven investment routes are regulated in Article 20 of the Regulation. Real estate investment funds and venture capital investment funds appear in the same paragraph; because of their economic differences they are shown in separate rows below. The amounts are the minimum investment thresholds; they are not a total budget, which includes tax, fees, translation, valuation, advisory and operating costs. [2]

In the real estate, deposit, government debt instrument, fund and private pension routes, the three-year protection condition is expressly stated in the relevant regulations. In the fixed capital and employment routes, it cannot be concluded from the table alone that "there is no holding period or continuing obligation"; the administrative practice of these routes must be assessed separately. The three-year investment period is not the period within which the citizenship application will be concluded. [2]

What are the advantages and disadvantages of a real estate investment?

Use and income potential are a real advantage

Under the real estate route, the minimum threshold is 400,000 US dollars or equivalent in foreign currency. The current regulation covers properties for which condominium ownership or a floor easement has been established, and plots of land with a building on them. A no-sale annotation is entered on the title deed at the time of purchase. Under certain conditions, a notarized sale promise, for which the price has been paid in full and which is annotated with the required undertaking, may also be used for a property for which condominium ownership or a floor easement has been established. Not every plot or field is accepted within this scope. [2]

The investor may use a suitable property as a residence or consider renting it out. In this way the property may meet a housing or income need alongside the citizenship process. The lower threshold compared with other monetary investment routes is also an advantage for the starting budget.

Nevertheless, a "400,000-dollar price" and "an investment amount accepted for citizenship purposes" are not the same thing. The listing price, the seller's undertaking or the estate agent's valuation does not replace the official determination. Valuation, payment and land registry records must be consistent with one another.

Valuation and exit risk must be examined together

The Tutar Tespit Belgesi (TTB, Amount Determination Certificate) announcement of the General Directorate of Land Registry and Cadastre (TKGM) provides that the amount that may be accepted for citizenship purposes is determined on the basis of a valuation report, generated through TADEBİS and transmitted to the TAKBİS/Web Tapu system. After the September 2026 update, the authorized valuation institution and the procedure for processing the report under the current TKGM procedure must be followed. Procedures from an older guide, including the institution or document described there, should not be applied. [3]

The land registry record, encumbrances, zoning and building use status, actual use, the seller's authority, the transfer history and the property's suitability for citizenship purposes should be investigated before payment. Rental expectations should also be tested against market data, and vacancy, service charges, maintenance and collection costs must be taken into account. A complete land registry review does not remove the need to examine the technical condition of the building separately.

The expiry of three years does not mean that a buyer will be found immediately at the same price. A property may become legally saleable on a given date while being economically difficult to sell. A seller's repurchase undertaking is worth only as much as the validity of the contract, the seller's ability to pay and the real structure of the transaction. Arrangements in which the price is in fact returned, or in which a payment is created only on paper, raise serious problems as to the reality of the investment condition.

This route may be worth considering for an investor who wishes to use the property beyond citizenship or hold it for a long period, and who can bear the management burden of ownership. For a person who will need cash in the short term, a low threshold alone is not a sufficient reason to choose it.

For risks relating to land registry, valuation and payment records, see our article citizenship through the purchase of real estate.

What are the advantages and disadvantages of a bank deposit?

In the deposit route, an investment of at least 500,000 US dollars or equivalent in foreign currency must be held for three years and determined by the BDDK (Banking Regulation and Supervision Agency). Under the current system, the foreign currency is sold to the TCMB (Central Bank of the Republic of Türkiye) through a bank; the resulting amount in Turkish lira is held in a Turkish lira deposit for three years. For this reason, a description such as "USD 500,000 stays in a dollar account for three years" is not accurate for new transactions. [2] [4]

The advantage of this option is that it does not create burdens such as property maintenance or the day-to-day management of a business. The investment can be monitored and documented through account movements. Depending on the terms of the product selected, interest or participation income may be earned; however, the rate of return, maturity, withholding tax and renewal conditions must be read from the contract.

The principal disadvantage is that the dollar threshold used for citizenship does not guarantee the principal in dollar terms. As the Turkish lira balance increases, its dollar equivalent may decrease. If the short-term account is renewed continuously, future interest rates may not be known at the outset. Saving the interest income and protecting the principal required for citizenship are separate matters.

When choosing a bank, not only the offered rate but also the establishment of the citizenship block, the preparation of the eligibility file, the costs, the customer identification and the documentation of the source of funds should be examined. Even where the product is covered by deposit insurance, the scope of the protection and the current limit must be checked separately; it cannot be said that the entire investment is insured merely because a product carries deposit insurance.

The investor should keep in writing the foreign currency sale record, the amount of the account and the date from which it is restricted, and how the conditions will be protected when deposits are renewed. The TCMB instruction requires that the bank where the foreign currency is sold and the bank where the Turkish lira deposit is held be the same. Once the foreign currency purchase process has been completed, the sale cannot be withdrawn to cancel the transaction. Partial withdrawal, pledging or a switch to another investment instrument should not be treated merely as a banking transaction; its effect on the citizenship file must be clarified before the transaction is carried out. [4]

What are the advantages and disadvantages of government debt instruments?

The basis of this route is the purchase of government debt instruments of at least 500,000 US dollars or equivalent in foreign currency and holding them for three years. The procedures and principles published in 2026 by the Ministry of Treasury and Finance define the eligible instruments by reference to government domestic debt securities denominated in Turkish lira and lease certificates denominated in Turkish lira. The remaining maturity on the date of purchase must be at least three years. In current planning, reliance should not be placed on the Eurobond option mentioned in older texts. [5]

The advantage is that, depending on the payment schedule of the selected instrument, coupon or rental income can be planned. The Ministry's principles permit the use of interest and rental income earned during the holding period. However, the future payments may have a fixed, variable or other structure dependent on other conditions; the phrase "government instrument" does not mean that all products have the same cash flow.

The disadvantages are the purchasing power of the Turkish lira, exchange rate movements and changes in the market price of the instrument. Before maturity, the sale price may differ from the purchase price. In addition, even where a sale appears economically possible, the commitment to hold the instrument for citizenship purposes may continue.

The Ministry's text establishes a close link between the foreign currency sale, the timing of purchase, the bank intermediation and the block. The application is processed through a bank; it should not be assumed that instruments may be freely bought and sold between one another. A fall in market price beyond the investor's control is treated differently from a reduction of the amount caused by the investor selling the instrument. [5]

The transaction file should contain the instrument code, nominal amount, purchase price, maturity, payment schedule and block record together. A letter of eligibility for citizenship is not an investment recommendation that the product is suitable for the investor's risk profile.

What is the difference between real estate funds and venture capital funds?

A real estate investment fund does not provide direct ownership

A GYF participation share gives an economic interest in the fund's portfolio; it does not give the investor the right to live in a specific flat or to rent that flat personally. For those who prefer fund management to direct ownership, this is an important difference. A fund investing in several assets may provide diversification; however, the same result cannot be assumed for a fund concentrated in a single project.

The advantage lies in selection of properties, portfolio management and the carrying out of certain operational tasks by a professional structure. The disadvantages are the limited decision-making power of the investor over individual assets, the fund's costs and its redemption timetable. The fund's articles of association, prospectus, investment strategy, valuation method, management fee and any performance fee must be examined.

An exit from a venture capital fund may take longer

A GSYF has a different risk profile because of the investment strategies it pursues in start-up companies. There is the possibility of participating in the growth of successful companies; on the other hand, failed start-ups, later financing needs, uncertainty in valuation and delays in exit transactions may affect the return. Choosing this route merely to meet the citizenship amount may expose the investor to commercial risks that he or she does not wish to bear.

For both types of fund, the three-year holding condition for citizenship is not a commitment that the fund will repurchase the shares at the end of the third year. The fund's term and the conditions for converting the shares into cash may require a longer investment horizon. The fact that transfer is possible also does not mean that a buyer will always be found.

Under the procedure of the Capital Markets Board (SPK), a participation share of an eligible fund in an amount of at least 500,000 US dollars or equivalent in foreign currency must be acquired and the three-year condition must be maintained. The shares are blocked in the Central Registry Agency (MKK) for citizenship purposes. A decline in value arising outside the investor's will because of the market price or exchange rate movements, the sale of the shares, and the lifting of the block are not the same legal event. Attachments and other restrictions are also of separate importance for the file. [6]

Any listed company share, REIT share or ordinary investment fund unit cannot be equated with a GYF or GSYF participation share under this paragraph. The investor eligibility conditions of the fund and its suitability for a citizenship application must be verified before purchase. [2] [6]

What are the advantages and disadvantages of the private pension system?

Under the BES route, a contribution of at least 500,000 US dollars or equivalent in foreign currency must be held in funds determined by the SEDDK (Insurance and Private Pension Regulation and Supervision Agency) and the investor must remain in the system for three years. For this purpose a special private pension plan is used, bearing the word citizenship in its title. Opening an ordinary BES contract alone does not mean that the citizenship conditions are met. [2] [7]

This route may be considered by an investor who wishes to manage savings through pension funds. The SEDDK principles provide that no entry fee and no management expense deduction are charged on citizenship plans. However, it cannot be concluded from this that "there are no costs or deductions at all"; fund costs and the tax consequences of an exit must be examined separately.

During the first three years, changes to the plan, consolidation of accounts on grounds of retirement and transfer to another company are restricted. Funds bearing the words foreign or foreign debt instruments in their titles, including those within the scope of BEFAS, are not admitted to a citizenship plan. The fact that the required contribution cannot be split among several contracts should also be taken into account in planning. [7]

The principal disadvantage is that the general flexibility of BES is not replicated in this special plan, and that the accumulated savings depend on fund performance. The past return of a fund does not guarantee the future result. As regards the State contribution, a fixed additional return should not be promised without assessing the foreign national's status and the conditions for entitlement to the contribution. [8]

The three-year citizenship period and the conditions for entitlement to a pension under the BES are separate arrangements. According to the SEDDK principles, the start of the three-year period is the date on which the pension contract takes effect. The conclusion of the contract, the transfer of the contribution, the letter of eligibility and the monitoring records should be kept in the same file. [7]

What are the advantages and disadvantages of a fixed capital investment?

Under the fixed capital route, the threshold is at least 500,000 US dollars or equivalent in foreign currency; its determination is made by the Ministry of Industry and Technology. Founding a company or depositing money into a company's account does not by itself show that a fixed capital investment has been made. The investment's connection with production or service activity and its attribution to the applicant must be documented. [2]

The advantage of this route is that an investor who already plans to set up a business in Türkiye or expand an activity can assess the citizenship process together with a real business plan. Assets such as machinery, facilities and production capacity may generate business income. If the business succeeds, the economic value is not limited to holding the investment.

The disadvantages are heavier: personnel, licences, tax, financing, commercial contracts and relations between partners are managed together. The business's cash requirements may exceed the minimum investment amount. Tying the entire starting budget to fixed assets may leave insufficient working capital to sustain the activity.

In explanations transmitting the Ministry's implementation principles, emphasis is placed on the chartered accountant's report (YMM raporu), the connection of investment items with the activity, and the non-transfer of company shares for three years. This summary should not be used in place of the Ministry's text as at the date of the transaction. In particular, it should not be assumed that acquiring an existing share and participating in a capital increase in cash are subject to the same conditions; the structure of the application must be confirmed against the current official principles. [9]

In practical review, the trade register, share and capital records, invoices, payments, fixed asset lists, financial statements and the necessary permits are matched with one another. Whether the investor would invest in the same business if citizenship were not the aim is a useful question that tests the economic soundness of this route.

What are the advantages and disadvantages of job creation?

The regulation provides for the creation of employment of at least 50 persons. The Ministry of Labour and Social Security's implementation statement, however, requires the full-time employment of at least 50 Turkish citizens, and continuity over the preceding six-month period is taken into account in the assessment. It should not be assumed that this condition is met by adding foreign employees. [2] [10]

The advantage of this option is that an investor who runs a sizeable and genuine business in Türkiye may assess the possibility of application on the basis of the existing operating plan. The absence of a fixed dollar threshold does not show that the capital requirement is low. Wages, employer charges, workplace costs, staff turnover and the sustainability of the activity determine the total cost.

The main disadvantage is that the operation must be continuous. Having names on a payroll is not in itself a sufficient approach; actual work, Social Security Institution (SGK) records, working hours and the employer structure are assessed together. The Ministry may also examine whether the share percentage held by the investor in the company is sufficient. Documents on tax and social security debt status are important in the application file. [10]

If the business is increasing its staff numbers only for the purpose of the application for a short period, the sustainability of that choice should be questioned. If the number of employees falls or the company structure changes, its effect on the file should be assessed separately. This route is suited more to an investor who can maintain employment as part of a genuine commercial activity than to a person seeking a passive investment.

How should exchange rate risk and total cost be calculated?

In comparing investments, at least three separate calculations should be made: the investment amount eligible for citizenship, the transaction and holding costs, and the net value that may remain at the end of the investment. The exchange rate used for the foreign currency sale, the exchange rate used for the eligibility calculation, and the exchange rate in the investor's own economic performance calculation are not the same concept. The Regulation takes as its basis the effective selling rate and/or the cross rate on the date of determination. The TCMB instruction dated 1 October 2026 defines the transaction rate for converting foreign currency into Turkish lira as the foreign currency buying rate announced at 11:00 on the day of conversion. For this reason, the same file may contain exchange rate records serving different functions. [2] [4]

The following calculation is entirely hypothetical; it is not a forecast of interest or exchange rates. Suppose that at the outset USD 500,000 was converted at 40 TL per dollar, producing an investment of 20 million TL. Suppose that after three years the balance before costs and taxes has risen to 30 million TL and the dollar rate has reached 80 TL. The dollar equivalent of the investment is then 375,000 dollars. Thus, although the Turkish lira balance has increased by 50 percent, its dollar equivalent has fallen by 25 percent.

This example shows why the legal eligibility of an investment and its economic result must be examined separately. A real calculation should also include tax, bank and fund costs, buying and selling differences and interim income. Likewise, a rise in the Turkish lira price of a property does not by itself show that a gain has been made in dollar terms or after adjusting for inflation.

Where the contract states a "package price including expenses", the amount of the investment eligible for citizenship and the service fees must be shown separately. It must be made clear from which amount the fund and BES costs are deducted, and who bears the duties, commission and maintenance of a property. The way in which the investment and the service contract may be terminated if the citizenship application is refused should also be arranged in advance; a State refusal decision does not create an automatic right of refund under every private contract.

How can an investor choose the route suited to his or her own situation?

First the objective must be determined. The question of a person who wishes to use a home in Türkiye differs from that of a person who wishes to recover his or her money on a fixed date. The following assessments are starting points for the legal and economic review; they are not an investment recommendation for any particular product.

• Investor who wants to use a residence or workplace: The property should be assessed not only by the citizenship threshold but also by the need for use and by an independent valuation.
• Investor who wants to limit the day-to-day management burden: When comparing deposits and suitable government instruments, the lira risk and the three-year restriction should be reflected in his or her budget.
• Investor who wants professional portfolio management: The strategy, costs, investor eligibility and exit differences of GYF, GSYF and BES should be read.
• Investor who wants to set up a real business in Türkiye: The fixed capital and employment routes should be examined together with the company's business plan, financing and continuing obligations.
• Investor who may need money in the near future: The resources tied to a three-year commitment should be separated from the family's or business's required liquidity. No route automatically solves an urgent need for cash.

The most useful decision document is a short comparison in which the same questions are answered for each option: What will be acquired? Which document will show eligibility? How long will the restriction last? What costs will arise? How and under what conditions will an exit be made? If the transaction fails, which amount may be recovered?

Which documents and which order of steps matter before an application?

The order of transactions should be designed to prevent payment or registration errors that cannot later be corrected. The typical process consists of the following stages; each institution's current document list and method of application also apply.

1. The identity, citizenship, marital status and representation documents of the investor and of the family members to be included are reviewed.
2. A legal and economic review of the chosen investment is carried out; contracts, fund documents or company records are assessed.
3. The source of the funds and the transfer chain are prepared; the compulsory foreign currency sale and payment order for the relevant route are applied.
4. The investment is completed; the necessary annotation, block or undertaking is established, and a determination of eligibility is requested from the competent institution.
5. The residence permit and citizenship application are carried out in accordance with their own procedures.
6. After the decision, the protection of the investment continues to be monitored; when the period expires, the lifting of the restriction and the exit transactions are completed separately. [1] [2] [11]

The documents should be kept so as to show without interruption the trail of the same person and the same investment. The power of attorney must include the powers required by the relevant transactions. Identity and financial documents should not be placed on open sharing platforms; they should be shared only with the persons necessary for the transaction through a secure channel.

What are the consequences of exiting before three years have passed or changing the investment type?

Article 20(8) of the Regulation allows a switch between investment types in order to complete the stated period. This provision, however, should not be read as an authority to freely convert the existing investment into cash first and then make a new investment. The link between the old and the new investment in terms of amount, date and documents must be preserved. [2]

In particular, for fund, debt instrument and BES transactions, the relevant institutions have notification and monitoring rules. For this reason, a transition plan should be made concrete with the competent institutions and financial bodies for both investment types before the existing restriction is lifted. Whether recalculation, an additional amount or new documents are needed is assessed on a transaction-by-transaction basis. [5] [6] [7]

Early sale, withdrawal of money or breach of the undertaking may lead to a re-assessment of eligibility and to an adverse decision on citizenship. Nevertheless, the statement that "every breach automatically cancels citizenship under the same statutory provision" is legally too general.

Article 31 of Law No. 5901 governs the annulment of a decision to grant citizenship that was based on a false declaration or the concealment of material facts; Article 40 governs the withdrawal of decisions taken without the legal conditions being met or issued in duplicate. An initial misrepresentation, an administrative assessment error and a later breach of undertaking are not the same circumstance. [1]

A 2026 study by Özgür discusses whether a later breach of the three-year investment undertaking falls directly within Article 31, and separates, under Article 40, cases in which the conditions were absent from the outset from those in which they were lost later. This academic criticism does not mean that an investor may breach the undertaking without risk; it affects which legal defence may be raised against an adverse decision. [12]

What can be done against a refusal or a decision to terminate citizenship?

First it must be determined which act has been made: a refusal of investment eligibility, a refusal of the citizenship request, or the annulment or withdrawal of the decision to grant citizenship are distinct. The authority that made the decision, the date of the act, its reasons and the notification document must be reviewed before the same course of action can be applied to all files.

Where no special period is provided, the general time limit for bringing an action in administrative jurisdiction is 60 days, counted from the day following written notification. An administrative application made in accordance with Article 11 of the Administrative Procedure Law No. 2577 (İYUK) and within time may suspend the running of the period. However, it should not be assumed that every petition sent to any institution has this effect. The competent court and jurisdiction are assessed together with the authority that carried out the act. [13]

Bringing an action does not by itself suspend the act. Under Article 27 of the İYUK, a stay of execution requires that the act be manifestly unlawful and that the damage be difficult or impossible to remedy. For this reason, not only the receipt showing the amount of the investment, but also the valuation, the actual payment, the legislation in force at the date of the transaction, the eligibility letters and the records of how the undertaking was fulfilled are central to the defence. [13]

The administration may argue that the investment was not real or that the conditions were not maintained. The investor may separately address the specific allegation, his or her own declarations and conduct, the acts of third persons, and the administration's earlier findings. The fact that an intermediary is under investigation and the fact that a particular investor made a misleading declaration are not the same. On the other hand, the fact that an eligibility letter was obtained does not guarantee that no later review can take place. [1]

For the routes of action and the evidence for the defence, see our article cancellation and withdrawal of Turkish citizenship.

Conclusion

In Turkish citizenship by investment, sound choice does not begin with the lowest threshold or with the highest promised return. First the eligibility of the investment for citizenship purposes should be assessed; then the investor's cash needs, capacity to bear risk and genuine economic objective should be considered.

Real estate may meet a need for use; deposits may ease day-to-day management; funds may offer professional management; and fixed capital and employment may support a genuine business plan. Each advantage carries a different cost, restriction and burden of proof. The end of the three-year legal condition does not mean that the investment has ended without economic difficulty.

Before any payment is made, the eligibility documents, the flow of funds, the start of the undertaking and the exit scenario should be clarified in one file. The protection of rights in any later refusal or annulment proceedings depends to a large extent on the accuracy of this first file.

Frequently Asked Questions

Which investment type has the lowest monetary threshold?

For new transactions under the current rules, the threshold for the real estate route is 400,000 US dollars or equivalent in foreign currency. The threshold for the other monetary routes is 500,000 dollars. The employment route depends on the number of persons. This comparison is not a ranking of total cost or economic risk. [2]

Can I keep USD 500,000 in a bank as dollars for three years?

Under the current citizenship deposit procedure, the foreign currency is sold to the TCMB through a bank and the resulting Turkish lira amount is protected. The threshold set in dollars does not mean holding the money in a dollar account or guaranteeing the dollar principal. [2] [4]

Do I have to wait three years to apply for citizenship?

Three years is the period for which the relevant investments must be protected; it is not a general waiting period before an application can be started or concluded. Eligibility, residence and citizenship procedures are carried out in their own stages, and the undertaking may continue after acquisition. [2] [11]

Is every investment fund or stock market share accepted?

No. The relevant paragraph regulates participation shares in GYF or GSYF. No other investment fund, REIT share or company share falls within the same scope. The nature of the product and its conformity with the practice of the Capital Markets Board (SPK) should be checked in advance. [2] [6]

Can I immediately redeem my fund investment at the end of three years?

That depends on the redemption and liquidation conditions of the fund. Completion of the holding period for citizenship does not show that the fund has an obligation to pay cash on the same day. The redemption timetable should be examined before the purchase.

Can foreign employees be included in the employment of 50 persons?

The Ministry's statement requires the full-time employment of at least 50 Turkish citizens. For this reason, the condition should not be considered met by relying on the number of foreign personnel. Continuity and SGK records are also assessed. [10]

Is a separate investment needed for a spouse and children?

The Law covers the investor's foreign spouse and the investor's or spouse's foreign minor or dependent children within the same exceptional scope. This does not mean that citizenship is granted automatically to all family members; personal conditions and family documents are assessed separately. [1]

If citizenship is refused, is my investment amount automatically refunded?

A refusal decision does not by itself produce an automatic refund under every investment or service contract. The dissolution of the deposit, the sale of the property, the redemption of the fund, and the refund of the service fee are assessed under the respective contract and legislation. This possibility should be arranged in writing before the transaction.

Sources and legal bases

[1] Republic of Türkiye, Law No. 5901 on Turkish Citizenship, in particular Articles 10, 12, 31, 32, 37 and 40. Official Gazette: June 12, 2009, no. 27256. Current text.

[2] Regulation on the Implementation of the Turkish Citizenship Law, 2010/139, in particular Article 20. Official Gazette: April 6, 2010, no. 27544; consolidated text with subsequent amendments. Official text.

[3] General Directorate of Land Registry and Cadastre (Tapu ve Kadastro Genel Müdürlüğü), Announcement on the Amount Determination Certificate (TTB) and announcement of the amendment to Circular No. 2024/4, September 29, 2026. TTB announcement · Announcement.

[4] Central Bank of the Republic of Türkiye (Türkiye Cumhuriyet Merkez Bankası), Implementing Instruction on the Sale of Foreign Currency to the Central Bank of the Republic of Türkiye under the Regulation on the Implementation of the Turkish Citizenship Law, text dated October 1, 2026, in particular Articles 3–8. Official text.

[5] Ministry of Treasury and Finance (Hazine ve Maliye Bakanlığı), Procedures and Principles to Be Applied to the Application Processes of Foreign Nationals Seeking to Acquire Turkish Citizenship on an Exceptional Basis by Purchasing Government Debt Instruments (Türk Vatandaşlığını Devlet Borçlanma Araçlarını Satın Alarak İstisnai Olarak Kazanmak İsteyen Yabancı Kişilerin Başvuru Süreçleri İçin Uygulanacak Usul ve Esaslar), text published in 2026, in particular Articles 3–8. Official text.

[6] Capital Markets Board (Sermaye Piyasası Kurulu), Acquisition of Exceptional Turkish Citizenship by Foreign Nationals through Investment (Yabancıların Yatırım Yapmak Suretiyle İstisnai Türk Vatandaşlığı Kazanımı), procedures and principles. Institutional announcement.

[7] Insurance and Private Pension Regulation and Supervision Agency (Sigortacılık ve Özel Emeklilik Düzenleme ve Denetleme Kurumu), Circular on the Private Pension System (Bireysel Emeklilik Sistemi Hakkında Genelge), Part K, pp. 58–59, principles and procedures relating to the acquisition of Turkish citizenship. Official text.

[8] Emeklilik Gözetim Merkezi, Participant Information Guide (Katılımcı Bilgilendirme Rehberi), statements on citizenship and the State contribution. Guide.

[9] Mert Sönmüş, Procedures and Principles for the Acquisition of Exceptional Turkish Citizenship through Capital Investment (Sermaye Yatırımı ile İstisnai Vatandaşlık Edinimine İlişkin Uygulama Usul ve Esasları), Kılınç Hukuk & Danışmanlık, December 21, 2023. Secondary transmission of the Ministry's implementation principles; for current transactions the Ministry's text must also be treated as the governing source. Article.

[10] Ministry of Labour and Social Security (Çalışma ve Sosyal Güvenlik Bakanlığı), International Labour Force General Directorate (Uluslararası İşgücü Genel Müdürlüğü), Exceptional Turkish Citizenship (İstisnai Türk Vatandaşlığı), statements on the employment route. Institutional statement.

[11] Presidency Investment and Finance Office (Cumhurbaşkanlığı Yatırım ve Finans Ofisi), Invest in Türkiye, Real Estate and Acquisition of Citizenship (Gayrimenkul ve Vatandaşlık Edinimi). Investment guide.

[12] Çiçek Özgür, Cancellation and Withdrawal of Turkish Citizenship Acquired through Investment (Yatırım Yoluyla Kazanılan Türk Vatandaşlığının İptali ve Geri Alınması), Ankara University Faculty of Law Review (Ankara Üniversitesi Hukuk Fakültesi Dergisi), 75(1), 2026, pp. 741–779; in particular pp. 773–774. DOI: 10.33629/auhfd.1710185. Article.

[13] Republic of Türkiye, Law No. 2577 on Administrative Procedure (İdari Yargılama Usulü Kanunu), in particular Articles 7, 8, 11 and 27. Official Gazette: January 20, 1982, no. 17580. Current text.