Same citizenship, same family coverage, same 3 years. One route makes you a landlord in a foreign country. The other makes you an investor with a professional team behind you.
Buying real estate is a professional business. Doing it from another country, in another language, under another legal system, is harder still. This is what an individual buyer takes on:
You buy fund units. A licensed asset manager does everything else.
Once your units are bought, the Capital Markets Board (CMB) issues the conformity letter and your lawyer starts the citizenship application. No title deed, no valuation report of your own, no estate agent.
You become a co-owner of the fund’s whole portfolio. Instead of carrying the risk of a single property, your investment is spread across several properties and projects.
The fund buys in bulk and negotiates as a professional investor, so it can secure discounts that an individual foreign buyer simply does not get.
Tenants, contracts, maintenance, legal matters and sales are handled by the portfolio management team. You never deal with a tenant or a contractor.
Real estate investment funds are among the most tightly regulated investment structures in Türkiye, supervised by the Capital Markets Board. The fund’s real estate is valued by CMB-licensed appraisal firms every six months, the fund is audited, assets are held in custody at Takasbank and key information is published on KAP, Türkiye’s Public Disclosure Platform.
The unit price is published regularly, with a daily reference price. You follow your investment from your own custody account at your bank.
The fund’s income is exempt from corporate tax. You file no annual tax return for it, and after the 3-year holding period you can exit without tax on your gain.*
After 3 years you simply submit your redemption request under the fund rules: no buyer, no agent, no flight to Istanbul. Units can also be split or transferred within the family far more easily than a title deed.
On both routes the citizenship process after the official confirmation is the same. The difference is how many offices you pass through to get there.
From that point on, residence permit, citizenship application and passport follow exactly the same path.
| Real estate fund | Buying a property | |
|---|---|---|
| Minimum for citizenship | USD 500,000 | USD 400,000 plus purchase costs |
| Purchase price | Institutional, bulk buying | Individual foreign buyer, often with a premium |
| Title deed fee | None | 4% of the value |
| Agent commission | None | On purchase (up to 10% through foreign real estate agencies) and again on sale |
| Valuation report | Not needed by you | Mandatory, at your cost |
| Risk | Spread across many properties | One property, one location |
| Tenants and maintenance | Handled by the asset manager | Your responsibility |
| Annual tax return and accountant | No | Yes, if rented |
| Tax on exit after 3 years | None for units held over 2 years* | Capital gains tax if sold within 5 years |
| Regulation and oversight | CMB, licensed appraisers, auditors, Takasbank, KAP | None beyond the title deed registry |
| Selling | Redemption request | Find a buyer, travel or power of attorney |
We manage real estate for a living. Even so, we would not want to manage a single apartment in Istanbul from Dubai, Karachi or Taipei.
The citizenship is identical on both routes. What changes is what you carry for 3 years: with a property, you carry the tenant, the paperwork, the tax returns and the risk of one building. With a fund, you carry a custody account. For an investor whose real goal is a second passport for the family, the fund removes the work and spreads the risk.
Fund units are an investment: their value can go up or down, and past performance does not guarantee future results. Fund expenses, including the management fee, are paid from the fund and reflected in the unit price. Citizenship is granted by the Turkish authorities. * Under current Turkish tax legislation for real estate investment fund units held for more than two years; please confirm your own situation with a tax adviser. This page is general information, not an investment offer.
This page is general information and not an investment offer, tax or legal advice. Investment involves risk and the value of fund units may go up or down. Past performance is not a guarantee of future results. Citizenship is granted by decision of the Turkish authorities. Details of the citizenship stage should be confirmed with your lawyer. Last reviewed: October 2026.
Related: Turkish citizenship by investment 2026 – requirements and process · Turkish citizenship through fund investment (USD 500,000) · FT Portföy – home
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