We all know that during the last years the Turkish government made some amendments on the laws related to naturalizing real estate investors, where they could have the Turkish citizenship for buying property of $250,000. However, recently, the Turkish government made another amendment to raise the value of the property that qualifies to obtaining Turkish citizenship to become $400,000. Please follow the details below to know more about the mechanism related to obtaining Turkish citizenship and the new amendments.
At the beginning, we have to confirm that those who buy a property within the value stipulated by law will be able to apply for Turkish citizenship immediately upon purchasing the property. However, when buying a property, they must specify a specific condition in the title deed that states not to sell the property for three years.
Important details regarding Turkish citizenship for real estate owners:
Without these conditions property owners will not be able to apply for Turkish citizenship.
- For those who owned real estate before the naturalization decision was issued and want to benefit from the new amendments, they have to resell and buy the property, and put the previous condition of not selling the property in the new contract to be able to benefit from the right to apply for Turkish citizenship.
- The mechanism of submission is in person, or through an authorized person, in case the applier is not available.
- The period during which the investor obtains citizenship is 3 months from the date of submission.
- Only the head of the family (the applicant), the wife and children under the age of 18 can receive Turkish citizenship.
- Kids over 18 years old are considered adults and must be submitted separately.
- The purchase process is not in US dollars, it should be in Turkish lira.
- The pricing of the property is based on the exchange rate of the Turkish lira against the US dollar at the time of the application process.
- The evaluation of the property is carried out by a specialized firm to ensure that the price recorded in the title deed is real and not exaggerated.
- In case of polygamy, not all wives obtain citizenship because Turkey follows the European system of legislation.
- Children of all wives can obtain Turkish citizenship through a certain mechanism.
- Buying a Property in Turkey as a Foreigner – a Full Guide.
- Shall I Buy a Property in Turkey for Citizenship or Buy in Europe?
- How to Invest in Real Estate during Inflation?
- The Most Frequent Questions about Amending the Laws for Granting Citizenship and Real Estate Residence in Turkey 2023.
Options available to foreign investors in order to obtain Turkish citizenship:
Foreign investors usually prefer to obtain Turkish citizenship through real estate investment of $400,000 or more, but the Turkish government offers about six investment options to obtain Turkish citizenship:
- Buying a property of $400,000 or more.
- Opening a deposit in a Turkish bank of $500,000 or more.
- Purchasing securities of $500,000 or more.
- Purchasing governmental bonds of $500,000 or more.
- Opening a project with a capital of $500,000 and hiring 50 employees.
- Purchasing investment fund shares of $500,000 or more.
Investments for having the Turkish citizenship is repayable three years later; investors can sell purchased securities, real estate or close deposit. However, the most common option is buying real estate. Turkish real estate prices are rising by 5-20% annually, depending on the region. Since the start of the coronavirus pandemic, prices have risen by 15-30%, according to the Chamber of Realtors.
Procedures of obtaining Turkish citizenship through buying real estate are as follows:
Applicants should bring a certificate of conformity from the General Directorate of Real Estate Registration, which takes about 10 days, by providing the following documents:
- Real estate tapu (title deed) or sale contract: the value of the real estate registered in it should not be less than $400,000, providing not to sell it for three years.
- Bank transfer receipt: After transferring the amount due on the property to the bank, a receipt is obtained for the amount of the bank transfer, and it is signed by the buyer.
- The real estate appraisal report: it is obtained from the Land Registry Office.
- A copy of the passport translated and certified by the notary public.
- Extract the tax number from the Tax Department in Turkey.
- A copy of the buyer's power of attorney to the lawyer, in the absence of the buyer.
- Two biometric photos.
Before applying for Turkish citizenship, it is necessary to obtain an investor’s residency, at first, from the Immigration Department, which takes a period of about 45 days.
Applying for Turkish citizenship is from the General Civil Service Department. It takes about 45 days.
Obtaining Turkish citizenship for residence:
There are other ways through which Turkish citizenship can be obtained, including:
- Obtaining continuous residency for at least 5 years, in addition to proficiency in Turkish language.
- Marriage: getting married to a Turkish citizen for not less than 3 years, taking into account good behavior to Turkish society, and respecting Turkish laws and national security.
Advantages of obtaining Turkish citizenship:
- Benefit from the government services that the Turkish citizen enjoys, such as working in government institutions, the right to elect, the right to candidacy to public positions, and many others.
- Having the rights of Turkish citizens within the borders of the Turkish Republic, including the right to education, free health treatment and many others.
- Foreigners who obtain Turkish citizenship can travel to 113 countries.
We offer you our services in the field of buying real estate in Turkey in three stages, before buying the property, after purchasing the property, and during the purchasing process. We also provide you with the latest real estate offers, in Turkey, that go with your desires and the specifications that you desire, including suitable real estate, offers to obtain Turkish citizenship through real estate investment, and purchasing real estate in Turkey within a standard period of 90 days.
Credibility, honesty, and speed are our motto. Do not hesitate to visit our company on the ground or online, in order to request various services at any time you want.
We are ready to answer all your inquiries, so do not hesitate to contact us via WhatsApp, please click here.
#property #turkey_real_estate #turkish_citizenship