Image default
Business

Turkish citizenship through real estate investment 2019

Real estate investment in Turkey

There are many ways to obtain Turkish citizenship, which we will discuss in detail soon, in this article we will focus on one of the most common ways to obtain citizenship by buying a property in Turkey.

In the beginning, we would like to point out that some many agencies and companies can help you buy your property in Turkey, but before starting this step, you should know the conditions and details regarding this.

This is why we have prepared this article in order to inform you of everything you need to know before you start investing in Turkey through real estate investment.

Here we mentioned all conditions in details regarding the practical procedures for applying for Turkish citizenship in return for buying a property in Turkey.

 

Why to invest in a real estate in Turkey?

Turkey-visa-from-PakistanThe advantages of buying a property in Turkey?

  • If you are thinking about investing in the Turkish real estate market, then you are putting your savings in one of the fastest-growing economies in the world and the property market uses this fact.
  • Investment property sales have increased and are expected to continue as the country is continually growing.
  • Property prices on a whole are affordable
  • The property taxes are low
  • you have the rights for the ‘freehold ownership’ of your Turkish property. Whether it is a small apartment unit or a detached home
  • Property owners will get a residence permit to live in Turkey.
  • The cost of living in Turkey is very reasonable

 

Turkish citizenship by investing in a property in Turkey?

You will now be familiar with all the conditions and details of the procedure for applying for Turkish citizenship in return for purchasing a property in Turkey.

The new law of Turkish nationality has given great advantages after the recent amendments and facilities to obtain Turkish citizenship, including the granting of Turkish citizenship in return for a real estate investment of $ 250 thousand, up from $ 1 million in the past.

The regulation divided foreign investors into two categories:

The regulation divided foreign investors into two categories:

  1. Whoever purchased the property during the period between 12/1/2017 and 18/09/2018 the value of the immovable property must be not less than USD 1,000,000.
  2. For non-movable property purchased on 19/09/2018 and thereafter, it must be at least US $ 250,000

 

Conditions for obtaining The Turkish citizenship

  • The property is not allowed to be purchased from any foreigner (non-Turkish).
  • All financial transactions for the purchase of the property must be carried out by the banks. Transactions outside banks cannot be accepted.
  • It is better that the value of the property you purchase is higher than the minimum value of $ 250 thousand, so that there are no obstacles during the course of the procedures for citizenship.
  • If you buy a property with installment payments, you will be charged the amount already paid, the debt that you will pay later is not taken into consideration.
  • In any case, you cannot sell the property you purchased, within the next three years of your purchase. But after that frozen period, you have the freedom to act in your property as you wish.

 

Steps to obtain Turkish Citizenship by real estate Investment

  • The property you purchased must have an official contract (tapu) and registered in the state.
  • Citizenship cannot be obtained through properties that are still under construction.
  • Obtaining an official real estate appraisal from a company registered in the Turkish Financial Markets Department (SPK).
  • The purchase price recorded in the purchase contract (tapu) will be calculated according to the Turkish Lira rate at the Central Bank on the day of registration.
  • It is allowed to apply for Turkish citizenship through several properties owned by the same investor, which is the total amount required for citizenship.

 

Required personal papers:

  • Birth certificate for the investor only.
  • The criminal record of the investor and his wife separately.
  • Family statement or family book.
  • Four biometric photos for each member of the family.
  • Marriage contract in case the owner of the property is married and wants to include his family in the procedures of nationality.

All documents issued outside Turkey must be authenticated by the Ministry of Foreign Affairs of the country where the documents were issued, and by the Turkish Representation in that country (Turkish embassy or consulate).

The application is available through the Immigration Department website

You may want to read this article : Is 2019 the year to invest in the Turkish Housing Market?

Related posts

Your guide for moving to Turkey – Immigration & residence

Arrive turkey

The Top Reasons to Invest in Turkey

Mohamed Habaza

Doing business in Turkey | Import and Export in Turkey

Muhammed Ismailoglu

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Leave a review

    Dear visitors, This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More