USD 400,000 or USD 500,000 is only the starting point. Here is what each route really costs on the way in, over three years and on the way out.
The property route looks cheaper at USD 400,000 against USD 500,000 for a fund. But the property price is only one line. Fees on the way in, three years of running costs and the costs of selling are paid on top, and many citizenship properties are sold above the local market price.
| Regulated fund | Buying property | |
|---|---|---|
| Minimum investment for citizenship | USD 500,000 in fund units | USD 400,000 in property (deed price and payments) |
| Title deed fee | None | 4% of the declared price (usually paid by the buyer) |
| Agent commission | None | Typically 2% + VAT locally; often much more when sold abroad for citizenship |
| Valuation for citizenship | Not needed – the CMB issues a conformity letter | Valuation report and TTB through WebTapu/TADEBİS, renewed after 12 months |
| Annual property tax and building charges | None for the investor | Annual property tax, monthly building charges, earthquake insurance |
| Management | Handled by the licensed portfolio manager | Your time, a local agent or a management company; repairs and empty months |
| Rental income | No rental tax return for the investor | Annual rental income tax return in Türkiye |
| Exit after 3 years | Redemption of units under the fund rules | Find a buyer; agent commission again |
| Tax on exit | Under current rules, gains on units held 3+ years are not taxed in Türkiye | Capital gains tax applies if sold within 5 years (rates up to 40%) |
| Lawyer and translations | Same for both routes | Same for both routes |
Figures are illustrative and depend on the property, the city and the sales channel.
| Fund (USD 500,000) | Property (USD 400,000) | |
|---|---|---|
| Upfront | USD 500,000 | USD 400,000 + about USD 16,000 deed fee + about USD 8,000–40,000 agent commission + valuation and insurance |
| Three-year running costs | No property costs for the investor | Property tax, building charges, insurance, management and repairs |
| Exit | Redemption request in the next window | Sale process, commission and possible capital gains tax |
The real difference is often the premium: a home sold to citizenship buyers through an overseas agent can be priced 20–30% above what a local buyer would pay. That premium is hard to recover at resale, because the next buyer cannot use the same property for citizenship.
For the property route, the valuation rules have changed several times since 2019. In March 2024 only one state-linked valuation company was accepted; in September 2026 the rule changed again and the TTB validity period moved from six to twelve months. Each change can affect timing and cost. The fund route follows the Capital Markets Board fund rules instead. Read the 2026 valuation rule change.
Read more: Turkish citizenship through a fund · fund vs. buying property · fund documents.
The minimum is lower (USD 400,000 vs. USD 500,000), but once fees, running costs, the citizenship premium and exit costs are added, the gap is often much smaller or reversed.
4% of the declared sale price, usually paid by the buyer.
No. The investor holds fund units, not a property, so there is no annual property tax or building charge to pay.
Under current Turkish rules, gains on fund units held for three years or more are not taxed in Türkiye. Tax in your home country should be checked locally.
No. Lawyer, translation and application costs are broadly the same for both routes.
Related guides: Turkish citizenship through a fund · Fund vs. buying property · 2026 valuation rule change · Fund documents
This page is general information, not an investment offer or investment, tax, legal or immigration advice. Citizenship is granted only by the Turkish authorities. Fund units carry risk and their value may go up or down; past performance is not a guarantee of future results.
Sources: Capital Markets Board of Türkiye · General Directorate of Population and Citizenship Affairs · KAP. · General Directorate of Land Registry and Cadastre (TKGM).
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