Thousands of citizenships obtained through inflated property appraisals and sham sales were cancelled. Here is what investors need to know before choosing a route.
Short answer: in 2026 Türkiye cancelled thousands of citizenships obtained through property purchases that used inflated appraisals or sham sales. The investment route itself remains open, but how you invest now matters more than ever.
This guide summarises what the authorities announced, how the schemes worked, and the practical checks that protect a genuine investor – whether you buy property or choose the regulated fund route.
In September 2026 the Ministry of Interior announced that 6,134 citizenship decisions obtained through the investment route had been cancelled or withdrawn:
The announcement followed two waves of criminal investigations led by the Istanbul Chief Public Prosecutor's Office:
| Wave | What was reported |
|---|---|
| August 2026 | 72 people detained; citizenship proceedings opened for 687 people; 1,045 properties, a hotel, companies, vehicles and bank accounts seized |
| September 2026 | 74 people detained in 13 provinces, 33 jailed pending trial; about USD 72 million of disputed transactions; revocation proceedings for 1,070 people |
Under Turkish Citizenship Law No. 5901, citizenship obtained through false statements or concealed facts can be revoked retroactively, including for family members naturalised through the same application. Some of those affected knowingly took part; others were good-faith buyers who trusted an agent or developer.
Türkiye also grants citizenship for a USD 500,000 investment in a CMB-regulated real estate investment fund (REIF) or venture capital investment fund (VCIF), held for 3 years. The structure removes the weak points described above:
| Property route | Fund route | |
|---|---|---|
| What decides eligibility | One property's appraisal | Fund units bought at the fund's official price |
| Who sets the value | One valuation report per deal | Fund assets valued under CMB rules; fund independently audited |
| Where the money goes | Seller's account | Fund account held by a custodian, through a Turkish bank |
| Oversight | Land registry and appraiser | Capital Markets Board (CMB), custodian, independent auditor |
| Exit after 3 years | Sell the property yourself | Redeem units under the fund's rules |
A fund investment is not risk-free: unit values can go up or down, and you should read the fund's issuance document. But eligibility does not depend on a single negotiated price, and every step runs through regulated institutions.
Yes. The programme continues with a USD 400,000 property route and USD 500,000 fund and other routes. The 2026 actions targeted fraudulent and irregular applications.
If the underlying transaction is found to be sham or the appraisal false, the eligibility certificate can be cancelled even if the investor did not organise the fraud. That is why independent checks before investing matter.
Speak to an independent Turkish lawyer immediately and gather all bank and title records. FT Portföy does not provide legal representation.
The Capital Markets Board of Türkiye (CMB / SPK), after your units are credited and blocked for 3 years.
This page is general information and not legal, tax or investment advice. Figures are taken from public statements and news reports as of October 2026. Investment involves risk and the value of fund units may go up or down. Citizenship is granted by decision of the Turkish authorities. Last reviewed: October 2026.
Related: Fund or property? Compare the two routes · Requirements and process 2026 · Citizenship through fund investment (USD 500,000) · FT Portföy – home
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