Nationality extraction
How to obtain the Turkish citizenship
Obtaining Turkish citizenship through real estate ownership is one of the best and fastest methods to get Turkish citizenship. It includes owning a home in Turkey, grants you the opportunity to live in a sophisticated and civilized country, and you may benefit from the property through renting it if you decided not to live in Turkey, also you can resell it after 3 years with a rewarding return.
It is an opportunity to own an apartment, invest, and obtain Turkish citizenship with a strong passport, at the same time.
1. real estate ownership: by purchasing real estate with a value of more than $400,000 provided not selling it for 3 years.
2. Investment in Turkey: Turkish citizenship can be obtained by investing in Turkey with a value of $500,000.
3. Bank deposit: This is depositing the equivalent of $500,000 at least in a Turkish bank for three years.
With real estate investment, the minimum real estate value for Turkish Citizenship was increased from $250,000 to $400,000. Moreover, A foreigner can apply for Turkish Citizenship if he deposits $500,000 or its equivalent in the Insurance and Private Pension Regulation and Supervision Agency system. Official Newspaper Publication: $400,000 Citizenship Official newspaper
Foreigners can acquire Turkish citizenship through real estate investment if they meet certain conditions specified in the relevant laws. Finally, with the amendment made in 2022, the opportunity to acquire Turkish citizenship exceptionally has been provided for foreigners who have purchased real estate worth at least 400,000 USD, provided that an annotation is put in the title deed records that it will not be sold
for three years. In determining that the purchased real estate is worth 400,000
USD, it is required that the relevant consultancy firms have been granted a Real Estate Appraisal Authority by the CMB (Capital Market Board). You can find all the details about the process of acquiring Turkish citizenship through real estate investment in this article. Reading contact customers high lifestyle appropriate
If you are a foreign national, we recommend that you contact us for a real estate valuation report for citizenship or your real estate purchase transactions. We will be pleased to assist you with our expert staff and wide real estate portfolio. In the continuation of our article, you can find those who are curious about the process of acquiring Turkish citizenship through real estate investment.
Contents
Which Documents Are Required for Application for Turkish Citizenship by Investment?
How is the Real Estate Sales Value of 400.000 USD Determined?
How should the sale price of the real estate be paid to the other party?
Where to Get Real Estate Valuation Report and Is It Valid?
How to Obtain a Certificate of Conformity?
Is the Quality of the Property Purchased Important?
Is it possible to sell the real estate before the completion of the 3-year annotation
period put on the title deed?
Can There Be a Large Number of Real Estate to Buy for Turkish?
Do All Real Estates Have to Be Purchased at The Same Time?
Related Articles:
- Which Documents Are Required for Application for Turkish Citizenship by Investment?
- Title Deed Document of the Real Estate
- Identity document/Passport (with translation if necessary)
- Real Estate Valuation Report
- Compulsory earthquake insurance policy for buildings
- Photos of 1 buyer and 2 sellers in the last 6 months
- “Real Estate Fair Value Certificate” of the real estate
- Tax number
- Bank-approved remittance receipts Sworn translator for non-Turkish speakers
- If there is representation, document/power of attorney regarding representation
How is the Real Estate Sales Value of 400.000 USD Determined?
The market value determined by the real estate sales price and valuation report
must be higher than the 400,000 USD value sought in the regulation. T.C. Transactions are made based on the Central Bank’s effective selling rate to determine the sales value.
How should the sale price of the real estate be paid to the other party?
It is possible to transfer the sales price of the real estate in foreign currency or equivalent Turkish Lira through banks in a foreign country or Turkey. It is necessary to prove with bank-approved receipts that the sales fee is sent from the buyer’s account and deposited to the seller’s account.
Where to Get Real Estate Valuation Report and Is It Valid?
The Real Estate Valuation report is obtained from authorized valuation institutions
published on the BRSA (Banking Supervision and Regulatory Board) website. At
the application date, at most three months must have passed since the date of issue of the Real Estate Valuation report. The valuation report is considered valid until the citizenship application is completed.
How to Obtain a Certificate of Conformity?
To acquire Turkish Citizenship through real estate investment, after committing not to sell the real estate for 3 years, the transaction documents are sent by the Land Registry Directorate to the Foreign Affairs Department of the General Directorate of Land Registry and Cadastre. The Department of Foreign Affairs is the authority authorized to issue a Certificate of Conformity. Afterward, the cover letter is sent to the General Directorate of Migration Management and the General Directorate of Population and Citizenship Affairs, as required. The applicant is informed via e- mail. After receiving the Certificate of Conformity, a residence permit application must be made to the Provincial Directorate of Migration Management and then a citizenship application to the Provincial Directorate of Population and Citizenship Affairs.
Is the Quality of the Property
Purchased Important?
No. The nature of the purchased real estate does not matter. Housing, workplace, land, field, garden, etc. could However if a commitment is made through a notarized
sales promise it is required to be a condominium or real estate for which floor servitude has been established.
Is it possible to sell the real estate before the completion of the 3-year annotation period put on the title deed?
Yes. Although the sale of real estate is possible, the situation is reported to the
General Directorate of Population and Citizenship Affairs by the Land Registry
Directorate. Thereupon, the situation regarding citizenship is being reassessed.
Can There Be a Large Number of Real Estate to Buy for Turkish Citizenship?
Yes. Only one real estate doesn’t need to be purchased. If more than one real estate was purchased between 12.01.2017 and 18.09.2018, with a total value of at least
1,000,000 USD; It can be purchased for the date 13.05.2022 and after if it is at least 400.000 USD.
Do All Real Estates Have to Be Purchased at The Same Time?
No. It is possible to apply for real estate purchased at different times. However, for
the immovable purchased between 12.01.2017-18.09.2018, the value of the immovable or immovables is at least 1,000,000 USD; The value of the immovable
or immovables purchased on or after 13.05.2022 must be at least 400,000 USD.
