Conditions for obtaining Turkish citizenship by real estate investment

  • Created At: November 13, 2021
  • Updated At: November 13, 2021
  • Category: Turkish Citizenship
  • Views: 1854

Turkish citizenship has become one of the most important nationalities that many desire and even dream of, because of its great and significant importance that makes the lifestyle different and easier for its holder, starting with entering many countries without a visa to treating him like a Turkish citizen. Turkish citizenship has become an important requirement and a necessity sought by many, in addition to the very strong and striking facilities carried out by the Turkish government, facilities that have increased the demand of many to apply for Turkish citizenship, especially investors and real estate project owners, Turkish citizenship is worth the effort and time to obtain it and enjoy its advantages both internally and externally.

• The main steps for obtaining Turkish citizenship by investment:

o Opening a bank account in Turkey.

o Proper and correct investment.

o Apply for a residence permit.

o Applying for Turkish citizenship immediately upon obtaining a residence permit.

• The basic documents required for submission:

Birth certificate for all applicants and marriage certificate translated into Turkish and certified.

A copy of the passport translated into Turkish and certified for all applicants.

Investor residence permit.

Conformity certificate on the investment from the Directorate of Land Registry.

• What are the best ways to obtain Turkish citizenship?

And through real estate ownership, Turkey has issued a decision requiring the granting of Turkish citizenship to foreigners with their families by investing 250 thousand US dollars in real estate in Istanbul or any Turkish city. And the matter is not limited to this condition only, there are many options that anyone can go to, such as

Make a fixed capital investment of at least 500,000 US dollars, confirmed by the Ministry of Treasury and Finance.

Creating job opportunities for at least 50 employees, confirmed by the Ministry of Family, Labor and Social Services.

Deposit at least 500,000 US dollars in banks operating in Turkey, and keep the deposit for 3 years in those real estate banks, and the Banking Regulation and Supervision Agency must confirm the deposit.

Purchasing public debt instruments with a value of at least $500,000 and holding them for 3 years, and the Ministry of Treasury and Finance must confirm the purchase.

• The most important facilities that have been applied towards Turkish citizenship

The Turkish Citizenship Law has undergone several amendments, and the conditions for obtaining Turkish citizenship have become easier than they were in the past. Anyone who fulfills these conditions has the right to apply for Turkish citizenship according to one of the following conditions:

- Purchasing a property with a minimum value of $250,000, and owning it for a period of no less than three years, meaning that it should not be sold during this period. This amendment is a milestone for those wishing to obtain Turkish citizenship, due to the massive reduction made by the Turkish government, which reduced the amount from one million dollars to 250 thousand dollars only!

- A fixed investment of at least $500,000.

- Providing a job opportunity for at least 50 Turkish citizens, as the old condition required providing job opportunities for 100 Turkish citizens.

- Reducing the value of the deposit requirement in Turkish banks from $3 million to $500,000.

Is it possible to pay in a currency other than the dollar to buy a property in Turkey to obtain citizenship?

Yes, it is possible. The price of real estate is paid exclusively through bank transfers, provided that the transfer is from the buyer’s account inside or outside Turkey to the seller’s account, and the value of the property cannot be paid in cash, and payment can be made in Turkish lira or any other currency. The exchange rate of the dollar or other currencies is calculated according to the official Turkish lira rate announced in the price bulletin of the Central Bank of Turkey on the day of purchase.

Is it possible to include a partner in the investment of one project?

A group of persons cannot participate to benefit from an investment or real estate condition with a single financial entry; Unless the contribution of each one of them is equal to the required amount, as if each person pays $500,000 for investment, or $250,000 only, after which there is no objection to sharing one project.

You will notice that it is very rare to see a government that constantly and continuously seeks to introduce laws, facilities and decisions that are in the interest of foreigners, whether they are Arabs or foreigners who wish to trade or own and invest in Turkey. The facilities that are offered are one of the most important attractions that attract many owners of money and investment projects, and these facilities will success in the future and will be a promising and prosperous start for a strong and stable economic future that will achieve profits and gains for all.

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