Business

15,000 foreign investors applied for Turkish citizenship: $4.5 billion in revenue

As of July 1, the number of investors applying to Turkey for citizenship has reached 15,176 in two years. The income obtained from these applications, which were obtained from funds, mainly real estate and housing, or by depositing some money in the bank, reached $4.5 billion.

Speaking at the opening of the 1st Ordinary General Assembly of the Real Estate Overseas Promotion Association (GIGDER), Deputy Minister of Treasury and Finance Nureddin Nebati stated that support should be increased in house sales to foreigners, “As of now, the average amount that foreigners pay for real estate is $151 thousand. One of the factors behind this increase is the right to citizenship.”

Stating that the number of investors applying to Turkey for the right of citizenship reached 15,176 as of July 1, Nebati made the following statements:

$4.5 BILLION OF REVENUE

“The income of $4.5 billion was obtained from these applications, which were obtained from funds, mainly real estate and housing, or by depositing some money in the bank. In a period of 2 years and this will go exponentially. On the one hand, while you take the necessary steps in the sale of the house, on the other hand, we will provide a more important cooperation with the construction sector with the measures we take.”

Nabati said that no matter what step is taken in favor of the country, they will help and will do their best to remove all kinds of obstacles.

Source: Yeni Safak / Translated by Irem Yildiz

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