Turkey announced its citizenship by investment program in 2016. It grants residency, citizenship, and a second passport to applicants investing either in real estate or a bank deposit. The real estate route is particularly attractive for investors. This requires a property purchase of a minimum of $250,000 + fees, making Turkey one of the lowest cost of citizenship by investment programs on the market. The real estate investment amount was originally set at $1 million but was drastically reduced in September 2018 and then increased in 2021 to $400.000