On 21 September 2026 Türkiye's Interior Ministry announced that, following a review of the citizenship-by-investment programme, citizenship decisions for 1,413 investors and their family members, 6,134 people in total, have been annulled or revoked. The same day, a second wave of a criminal operation took place in Istanbul. Here is what is being checked, which deals are deemed sham, and how a holder of property-based citizenship can check their own position.
What happened
The review began on 11 February 2026. Since that date, checks of investment eligibility certificates led to the annulment of citizenship for 458 investors and their families (1,393 people), and 7 more people had citizenship revoked on national security grounds.
On 4 August the first criminal operation took place: through deals of one construction group, 687 people were found to have obtained citizenship via properties with inflated valuations. On 21 September came the second wave: 734 sales to foreigners through three construction groups were reviewed, 274 deals were deemed sham, and 1,070 people were identified with unlawfully obtained citizenship (263 investors and 807 family members). Sham transactions totalled 3.5 billion lira, and 72.25 million dollars of declared investment never actually entered Türkiye. 72 of 88 suspects were detained, 30 companies were placed under trustees, and 2,011 properties, a hotel, 86 vehicles, 2 yachts and 42 bank accounts were frozen. In total, 4 construction companies and 27 shell companies took part in the scheme.
How the scheme worked
Two elements. First, inflated valuation: a property worth a fraction of the threshold was appraised, by arrangement, at the required amount, and that appraisal underpinned the eligibility certificate. Second, and decisive: the money never entered the country. The law requires the investor to actually bring foreign currency into Türkiye and pay for the property. In the scheme, the seller or intermediary used its own funds, cycling them so the flow looked like the buyer's payment. The buyer paid the intermediary a fee, on average around 50,000 dollars per person, and often sincerely believed they had bought the property at full price.
The Interior Ministry stated plainly that the violations were in documents submitted before the application, so responsibility rests with applicants and intermediaries, not the authority. The practical consequence: citizenship decisions are revoked retroactively, and all family members who obtained status together with the investor, children included, lose it.
Who is at risk
Not everyone who obtained citizenship through property. At risk are deals with three features: the property was bought from a developer or company connected to the intermediary who handled the application; the valuation was substantially above market prices in the district at the deal date; the currency entered Türkiye from an account other than the investor's own. Where all three coincide, the probability of being caught in the review is high.
How to check your file
First: the money trail. The currency purchase certificate (Döviz Alım Belgesi) and bank statements showing that funds came from your foreign account into a Turkish bank and went to the seller. If an intermediary handled this document and you never saw it, request a copy from the bank.
Second: valuation against the market. Compare the appraisal figure with prices of comparable properties in the same district at the deal date. A gap above 30-40% is a signal the review will notice.
Third: the seller chain. Check the trade registry for links between the seller and the intermediary's company through shareholders or directors.
If all three points are clean, gather the documents into one file and keep it: if an inquiry comes, the answer should be ready within a day. If even one point raises doubt, the position needs to be prepared now, before any notice: there is room for defence in this procedure, but it requires documents, not explanations.
If you obtained Turkish citizenship through property in 2022-2025 and want your file checked, we will audit it on the three points and, where needed, prepare a legal position. Contact us.