Turkish authorities have identified 1,070 foreigners who allegedly acquired Turkish citizenship through fraudulent real estate transactions, as a second operation targeting companies involved in the scheme was launched in Istanbul.
The operation was conducted early on Sept. 21 in Istanbul, Justice Minister Akın Gürlek announced in a social media post.
As part of the investigation, authorities examined property transactions involving several construction companies, including Gül İnşaat, Beyaz İnşaat and LIV İnşaat.
Investigators reviewed real estate sales involving 734 foreign nationals and determined that 274 of the transactions were fictitious.
The investigation found that 1,070 people, including the applicants’ family members, had obtained citizenship through unlawful means, while 11 others were still undergoing the citizenship process.
Authorities have also initiated procedures to revoke the citizenships.
The investigation uncovered more than 3.5 billion Turkish Liras ($71.7 million) worth of fictitious property transactions. Legal proceedings were launched against 88 suspects, 72 of whom were detained.
Police seized digital materials from addresses linked to the suspects and the companies under investigation. Authorities also imposed measures on 2,011 properties, one hotel, 86 vehicles, two yachts and 42 bank accounts.
Thirty companies were also seized and placed under trusteeship.
Türkiye introduced its citizenship-by-investment program in 2017, initially requiring a minimum real estate investment of $1 million. The threshold was reduced to $250,000 in 2018 and later raised to $400,000 in June 2022, where it remains.
However, properties valued below the required investment threshold had been sold using inflated appraisals by construction and real estate companies to enable applicants to qualify for Turkish citizenship.
The latest operation followed an investigation launched in August, when authorities began proceedings to revoke the citizenship of 687 foreign nationals.
Following that operation, the Interior Ministry said it had revoked or canceled the citizenship of 6,134 foreign nationals to date.
