Compare Listings

How to get Turkish citizenship by investing 250.000 $?

How to get Turkish citizenship by investing 250.000 $?

Turkish Citizenship by investment program has been amended recently on 19th September 2018 and requirements for citizenship by investment have been lowered. As a result,

Those who have purchased at least $250.000 worth of immovable properties without selling them within three years of the purchase will be eligible for gaining citizenship.

 

  1. Foreigners who purchased the immovable property with a minimum amount of $250,000 having land registry record which are determined by the Ministry of Environment and Urbanism on the condition that it is not going to be sold for three years, it is also possible to obtain Turkish citizenship. Within this scope;
  2. In order to determine the amount which is indicated in the application for the sale of the immovable property, there should be prepared an immovable valuation report which should be accepted by the Capital Market Board in accordance with valuation standards by valuation expert who has a valid license.
  3. Based on the value in the immovable valuation report that shows the market value, the value of immovable in US dollars is calculated on the effective selling rate of the Central Bank of Turkey or cross rates at the date of transaction.
  4. The foreigner who has bought the real estate should be arranged and declared that this immovable property will not be sold for a period of 3 years for purpose of acquisition of Turkish citizenship;
  5. The title deed registration is given to the applicant following the completion of the full procedure.

 

Real estate

 

Steps for Turkish Citizenship Application by Real Estate Investment

 

Getting a Tax Registration Number

  • Tax registration number number can be obtained from any tax office in Turkey.
  • Original Passport and Photos are required.

Opening a Turkish Bank Account

  • Documentation of transactions during the buying stage will be necessary.
  • Passport original and Tax Registration Number is required.
  • An Official Document (such as Public Utility Bill) shows your current address is required.

  

Finding the Property

  • Total value of $250.000 or equivalent Turkish Lira ( single or multiple units)
  • Completed or Close Completion
  • Habitation License granted
  • Construction Servitude or Title Deed ready
  • Suitable for Official Valuation Survey

 

Buying the Property

  • Use bank transfer and document the transaction by receipt
  • Get Title Deed Registry and/or Notarized Sales Contract annotated with ‘ Not to be sold for 3 years’

 

Obtaining the Certificate of Conformity

  • Request, Provide Official Valuation Survey
  • Submit the Bank Transfer Receipt
  • Apply to Ministry of Environment and Urbanization

 

 

Application for Turkish Residency

 

  • Gather the required documents
  • Apply to Directorate General of Migration Management

 

Application for Turkish Citizenship

 

  • Gather the required documents
  • Apply to Directorate General of Migration Management

 

Facts about Turkish Citizenship

  • Time condition for all investment is 3 years.
  • You can be a Turkish citizen with the condition that you can take back all investments along with legal revenues 3 years later.
  • You can sell your property once the required time expires and Turkish Citizenship is granted.
  • Applicant’s spouse and children who are less than 18 years old will be also granted Turkish Citizenship.
  • You do not have live in Turkey to participate in this Programme.
  • Your Turkish Citizenship will remain through your life and your children will be born as Turkish Citizens.
  • You can keep multiple citizenships along with your Turkish Citizenship.

 

What is the truth about the decision of granting Turkish citizenship by purchasing a real estate with a minimum value of (250,000) USD?

The decision was made by the Turkish government, then approved by the president of Turkey Recep Tayyip Erdogan dated 18/9/2018, No 106 which adds the article no 42 to the Turkish nationality law no 590.

 

 Has the new Turkish citizenship program entered into force and is it valid now?

The executive regulation concerning this “Regulation” was issued (Regulations concerning the amendment of the executive Regulations on the implementing of the Turkish Nationality Law) on 19/9/2018 and it entered into force and became valid and effective starting from the date of publishing.

 

Can the foreigner who purchased a real estate value of (250.000)             USD before this law issued to apply for Turkish citizenship?

The real estate ownership must be after the “Regulation” entered into force and became valid on 19/9/2018 since the purpose of this new law is to get more foreign currency and make new investments.

Can I get more than one real estate to reach the 250,000 USD limit?

You can buy more than one real estate with a total value of at least $ 250,000. However, you should apply for all properties at the same time. In other words, the total value of the properties to get citizenship should be more than 250.000-USD

 

Can I get a Turkish Citizenship by buying a rent guaranteed property?

Obviously, you can buy any real estate with a total value more than 250.000 USD.

 

I do not have time to come to Turkey. How can I get Turkish citizenship by Property

If you give power of attorney to a lawyer, you can follow all your processes from start to finish.

 

How long does the process of getting Turkish citizenship take?

The government has opened a special Citizenship office to reduce time, it takes approximately 2 months.

 

Can I sell the property after the application for Turkish citizenship?

Yes, you can sell your property 3 years after your application and can still keep your Turkish citizenship.

 

Can I buy commercial property with rental income and still apply for citizenship?

Yes, any property you buy is counted (residential and office units, buildings and land)

 

Can I pay$250,000 for the property in installments?

No, the investment must be done in a one-off payment.

 

Does the Turkish law allow dual or multiple citizenships?

Yes, Turkish law allows dual or multiple citizenships when you become a Turkish citizen. You must check with the consulate of your original nationality, some countries do not allow to have dual citizenship or have some other restrictions.

 

Is it mandatory to live in Turkey to obtain Citizenship?

No. You do not need to live in Turkey.

 

Until the citizenship process will be finalized, can I get a residence permit?

Yes, you can get a residence permit in Turkey for you and your family members.

 

How many people can apply for citizenship on one Title Deed?

Only one person and his closest family (spouse, children under 18 years) may apply for citizenship.

 

Required Documents

  • Birth Certificate
  • Certificate of Residence
  • Vital Record that shows all family members as the husband, wife and children, Marriage Certificate, Divorce Certificate.
  • If the applicant is widowed, Spouse’s Dead Certificate.
  • Health Insurance.
  • 12 Biometrics Photos taken on white background.
  • Original and Notarized Turkish Translation of these documents.
  • Power of Attorney
  • Application Forms.
img

turyap

    Related posts

    Why buy property in İstanbul?

    Capital growh potential Even though Istanbul has always been one of the major cities of the...

    Continue reading
    by turyap

    Why buy property in İzmir?

    International Hub İzmir enjoys the advantage of being a significant export oriented city. It...

    Continue reading
    by turyap

    Buying Property in Turkey Guide for Foreigners

    1-Legal Basis: In accordance with the Article 35 of the Land Registry Law No. 2644, amended by Law...

    Continue reading
    by turyap

    Join The Discussion

    How can I help you?