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Across the world, citizenship is no longer defined only by ancestry or cultural ties. In both Türkiye and the United States, it has also become a financial gateway, where foreign investors can obtain nationality through carefully designed programs. While the two countries share the goal of attracting capital, they follow strikingly different paths in how they grant this privilege.
Türkiye formally accepted citizenship by investment in 2016, when regulations were added to existing nationality laws. Today, foreigners who are not considered a threat to national security or public order can obtain citizenship by presidential decree. Several financial routes are available:
According to 2022 figures, foreign investors brought in $7.53 billion through such programs, and 25,969 people acquired Turkish citizenship. A large portion of applicants came from the Middle East.
Official statistics also show that housing sales to foreigners decreased significantly in 2024. In June, sales dropped by 45% year-over-year, totaling 1,440 units. The cities leading in sales were Antalya, Istanbul, and Mersin. These figures, however, may not directly reflect citizenship acquisitions, since not every property purchase leads to nationality rights.
The United States introduced its Immigrant Investor Program, known as EB-5, in the 1990s. Unlike Türkiye, the U.S. system excludes passive real estate purchases and requires active economic contributions. Applicants must:
Successful applicants first receive a two-year residency permit. If they meet the job creation requirement, they can apply for permanent residency for themselves and their immediate families.
By 2019, EB-5 investors had injected over $40 billion into the American economy, with a large share of participants coming from Asia, particularly China. Despite its economic benefits, the program has faced criticism over concerns about money laundering and national security.
Both Türkiye and the United States use citizenship by investment as a way to attract foreign capital. Both also extend family rights, allowing spouses and children to benefit. Yet, Türkiye’s heavy reliance on real estate ties the program directly to market volatility and currency fluctuations, while the U.S. model seeks a longer-term economic impact through job creation.
According to a news academic study, certain economic problems in Türkiye, including currency depreciation, have made real estate cheaper for foreign buyers and temporarily boosted demand. However, experts warn that this creates exposure to sudden downturns. The American approach, by contrast, is slower, stricter, and more selective, but arguably less vulnerable to short-term shocks.
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