Bodrum is attracting Foreign Investors thanks to Turkey’s citizenship by investment programme.
Investors are coming from neighbouring MENA countries. Affordable luxury and a strong passport position Turkey as a leading citizenship investment jurisdiction.
The Bodrum peninsula is renowned for its picture-perfect coast, vibrant city centre and tranquil towns stretching out across its turquoise seaside.
This area of Turkey has been drawing in many foreign real estate investors looking for lucrative investment opportunities and/or seeking to apply for the Turkish Citizenship by Investment programme.
In order to obtain Turkish citizenship the applicant must either:
- Invest US$ 250,000 in real estate and retain that investment in real estate for a minimum period of 3 years;
- Deposit US$ 500,000 in a Turkish Banking Institution for a minimum period of 3 years;
- Invest US$ 500,000 in a fixed capital investment that is approved by the Ministry of Industry and Technology;
- Invest in government bonds and bills for 3 years, subject to the approval of the Ministry of Treasury and Finance;
- It is expected that for investors who wish to invest in a real estate investment trust or venture capital investment funds, this route can be selected subject to meeting specific investment criteria and investing a minimum of US$ 500,000.
Why the time for the Turkish Citizenship by Investment program is right now?
The Turkish lira has been undergoing a lot of pressure and currently, for non-Turkish Lira investors, the price of real estate is quite attractive. Previously the entry point for investors was closer to US$ 1,000,000 for the Citizenship programme yet this has now been reduced substantially.
The area of Bodrum persistently draws evermore luxury tourists due to its 3 international marinas, access to the Mediterranean islands and natural beauty. Yalikavak Marina is a mega-yacht marina with over 600 berths and hosts various of the celebrity personalities throughout the year.
Read more: Turkey – Where Continents and Opportunities Meet
The lure of Bodrum is unlikely to change and will only show an upward trend, especially as more international architects continue to dot the coastline with luxurious, designer villas.
Outside of the historic city centres were planning and zoning rules prohibit individual building structures, various renown architects have been commissioned to design beautiful homes for the affluent.
These various characteristics position Turkey and its citizenship by investment program as a viable option predominantly for the Lebanese, Qatari, Saudis etc. who are seeking a second citizenship in a country where they feel the investment opportunities are lucrative, the socio-cultural environment is familiar and the investment required is affordable.
