Fastest Routes to a Second Passport: Turkey vs Other Golden Visas

Why a Second Passport Matters

A second passport or residency permit can provide greater travel freedom, tax planning options, and a safety net in times of political or economic uncertainty. For high‑net‑worth individuals the decision often comes down to three practical questions: How much capital is required? How long does it take to obtain the right to stay or become a citizen? And what additional benefits—such as Schengen access or the ability to work—are included.

Turkey’s Citizenship‑by‑Investment Program

Key Requirements

• Minimum real‑estate investment of US$400,000 (or equivalent in Turkish Lira).
• The property must be held for at least three years before the investor can apply for citizenship.
• No prior residence requirement; investors may live in Turkey or remain abroad during the holding period.
• Applicants must pass standard background checks and demonstrate a clean criminal record.

Timeline and Costs

The official processing time for the citizenship decree is typically 3–4 months once the three‑year ownership condition is satisfied. Including due diligence, legal fees and property purchase costs, most applicants budget between US$450,000 and US$500,000 total.

Turkey is not a member of the European Union, but its passport grants visa‑free or visa‑on‑arrival access to over 110 countries, including Japan, South Korea and many Latin American states. It also offers relatively easy entry into Turkey’s growing economy for business owners.

How Other Popular Programs Compare

Country	Minimum Investment	Resulting Status	Typical Processing Time	EU/Schengen Access	Key Restrictions
Turkey	$400,000 (property)	Citizenship after 3‑yr hold	3–4 months post‑hold	No EU; broad visa‑free list	Property must be retained for 3 years
Greece	€250,000 – €800,000 (property tiers)	5‑yr renewable residence permit	2–3 months for visa issuance; 6‑12 months for renewal	Schengen area (residence card)	Airbnb rentals prohibited on Golden Visa units
Montenegro	€450,000 (property in designated zones)	Renewable residence permit	4–6 months for initial permit	No EU; visa‑free travel to 120+ countries	CIB program closed 2022; only residency now
Spain	€500,000 (property) – alternative non‑lucrative visa €27,115 annual income	Residence permit (Golden Visa discontinued Apr 2025)	1–2 months for non‑lucrative/digital nomad visas	Schengen area	Property route no longer leads to citizenship fast‑track
Portugal	D7 visa – minimum €8,000 passive income (property route removed Oct 2023)	Residence permit leading to citizenship after 5 years	2–3 months for D7 approval	Schengen area	No real‑estate investment path for Golden Visa
Thailand	Freehold condo up to 49% foreign ownership (no land)	No residency‑by‑property scheme	N/A – property purchase separate from visa process	No EU; ASEAN travel benefits only	Cannot convert condo ownership into a residence permit

Greece Golden Visa

The Greek program remains one of the most affordable EU options. Investors can choose between three property thresholds: €250,000 for a single unit, €400,000 for two units, or €800,000 for larger projects. The residence permit is issued within 2–3 months and is renewable every five years as long as the investment remains. While holders enjoy Schengen travel, they cannot rent out their property on short‑term platforms such as Airbnb—a restriction introduced to curb holiday‑rental saturation.

Montenegro Residence by Property

Although Montenegro’s citizenship‑by‑investment (CIB) scheme was shut down in 2022, the country still offers a straightforward property‑linked residence route. A €450,000 purchase in a designated development grants an initial one‑year permit that can be renewed annually. The benefit is a low cost of living and a strategic location on the Adriatic, but the passport does not confer EU or Schengen rights.

Spain – Changing Landscape

Spain’s Golden Visa, which once required €500,000 in real‑estate, will cease to accept new applications after April 2025. Prospective investors must now look at the non‑lucrative visa (minimum annual income of roughly €27,115) or the newer digital‑nomad visa for remote workers. Both routes provide a residence card with Schengen access, but they do not lead directly to citizenship and lack the property‑investment shortcut that previously existed.

Portugal – From Property to Income‑Based Residency

In October 2023 Portugal removed real‑estate from its Golden Visa criteria, shifting focus to the D7 “passive income” visa. Applicants must demonstrate a regular net income of at least €8,000 per year (or equivalent savings). The D7 permit is processed in 2–3 months and can be renewed annually; after five years of legal residence, applicants may apply for Portuguese citizenship, which includes full EU rights.

Thailand – No Residency‑by‑Property Option

Foreigners can buy freehold condominiums in Thailand, provided that no more than 49 % of the building is owned by non‑Thais. However, property ownership does not translate into any form of residence permit. Investors must obtain a separate visa—such as a retirement or business visa—to stay longer than 30 days. Consequently, Thailand cannot be compared on a “fast track to passport” basis.

Speed Comparison: From Investment to Passport or Residence Permit

• Turkey: Citizenship granted after a mandatory three‑year property hold; processing of the decree takes about 3–4 months once the condition is met (total ~3.5 years).
• Greece: Residence permit issued within 2–3 months; renewal every five years as long as the €250k‑€800k property remains.
• Montenegro: Initial residence permit in 4–6 months, renewable yearly; no path to EU citizenship.
• Spain: Non‑lucrative or digital‑nomad visas processed in 1–2 months; residence is immediate but does not lead to fast‑track citizenship.
• Portugal: D7 visa approved in 2–3 months; five years of residency required before applying for citizenship.
• Thailand: No residency‑by‑investment route; property purchase is separate from any visa process.

For investors whose primary goal is a passport rather than just a residence permit, Turkey remains the quickest pure‑citizenship pathway that still involves a real‑estate component. EU‑linked programs such as Greece and Portugal offer faster entry into the Schengen area but require longer residency periods before citizenship becomes an option.

Choosing the right route depends on personal priorities: speed to passport, desire for EU mobility, tolerance for property‑holding obligations, or preference for a particular lifestyle. Resida Global specializes in navigating these nuances and can tailor the process to each client’s financial profile and travel goals.

Conclusion

While Turkey provides the fastest direct route to citizenship through a $400,000 property investment, other countries excel in offering EU residency with shorter initial processing times. Understanding the distinct timelines, costs, and restrictions—such as Greece’s Airbnb ban or Portugal’s shift to income‑based visas—is essential for making an informed decision.

Frequently Asked Questions

Which country offers the quickest path to a full passport?

Turkey provides the fastest direct route to citizenship after a three‑year property hold, with the decree processed in about 3–4 months.

Do any of these programs grant immediate Schengen access?

Greece, Spain (via non‑lucrative or digital‑nomad visas), and Portugal grant residence permits that allow Schengen travel immediately after approval.

What is the minimum investment required for Greece’s Golden Visa?

Investors can choose from €250,000, €400,000, or €800,000 property tiers, all of which qualify for a five‑year renewable residence permit.

Can I obtain Turkish citizenship by buying an apartment in Bangkok?

No. Turkish citizenship by investment requires the purchase of real estate located within Turkey; foreign properties do not count toward the program.

Has Portugal completely stopped offering residency through property purchases?

Yes. As of October 2023, Portugal’s Golden Visa no longer accepts residential real‑estate investments and now relies on the D7 passive‑income visa for residency.