Obtaining Turkish citizenship by purchasing a property
How can you obtain Turkish citizenship by buying a property? What are the conditions, procedures and documents required and how long is it required to obtain them
Table of Content
- How to acquire Turkish citizenship by buying a property?
- Conditions for obtaining Turkish citizenship through the purchase of a property
- Valuation of the price of the property before applying for citizenship: Property valuation
- Stages of obtaining citizenship through the purchase of a property in Turkey
- How long does it take to acquire Turkish citizenship by buying a property?
- The services of Gars Consulting Company to acquire Turkish citizenship through the purchase of a property
How to acquire Turkish citizenship by buying a property?
According to recent amendments to the Law on Turkish Citizenship, a foreigner can acquire Turkish citizenship in case of purchase of property worth $250,000, instead of the previous value of $1 million. However, provided that the property was not sold within a period of three years, and one of the most recent modifications to the acquisition of Turkish citizenship was the purchase of the unfinished property, i.e., under construction, through a contract that would be aged for at least three years.
In an interview with the Anatolian Agency on 30 December 2020, Turkish lawyer Khalil Arslan revealed that more than 20,000 investors benefited from Turkish citizenship through investment.
Conditions for obtaining Turkish citizenship through the purchase of a property
Recent amendments have accelerated the rate at which foreign investors, especially Arabs, take ownership in Turkey for the purpose of citizenship. Indeed, investors have begun to acquire citizenship after they have completed transactions, under the conditions of:
- The value of the property/or total real estate purchased is $250,000 and an increase, or equivalent in Turkish currency at the exchange rate at the time of sale
- The buyer of the property is one of the nationalities subject to the decision on nationality in exchange for ownership of property. The Naturalization Act of Turkey covers all but certain specific nationalities, including North Korea and Syria
- A buyer is obliged not to sell the property for three years from the date of purchase
- Receipt by foreigners of a real estate assessment report from a real estate assessment firm and on condition that it is accredited by the Turkish Government
- Registration of the property in Turkey on a regular basis in the Registration District
- Payment of property in Turkey through regular money exchange
- Purchase of property from a Turkish national or a Turkish construction company
Valuation of the price of the property before applying for citizenship: Property valuation
The real estate valuation in Turkey, known as the "property valuation document," includes detailed information on the status of the property to be sold, in terms of determining the price of the property on the market.
What are the conditions for obtaining it?
- Being prepared by certain licensed companies specialized in valuing real estate in Turkey
- There is a period of time of approximately 3 days to a week to obtain the document of the property evaluation report, following the application to the company.
- The property valuation document in Turkey is valid for three months from the date of its issuance
Stages of obtaining citizenship through the purchase of a property in Turkey
Given the sensitivity of proceeding with the acquisition of Turkish citizenship through the purchase of property, we, in Gars Consulting Company, can take you through the stages in order to avoid any obstacles in the stages:
- Purchase of property with evaluation and validation book
- Obtaining the investor's residence permit
- Application for citizenship
Documents necessary to obtain Turkish citizenship through the purchase of property in Turkey
- A copy of passport translated and certified by notary in Turkey
- Copies of the wife’s and children’s passports which the buyer wants to give to his family, a translator and a certified notary in Turkey.
- Family book or family statement document translated and certified by the notary of Turkey
- A clearance document of judgment and precedent for the individual investor and his wife separately
- 2 recent photographs of all family members
- A copy of the title deed
- Property valuation document in Turkey for property/properties
- Payment receipts for real estate, which must be sealed from the bank through which the money was sent.
- Receipts received by the seller of the property, or the "construction company," and must also be stamped from the transmitting bank.
- All documents issued outside Turkey must be certified by the Ministry of Foreign Affairs of the country from which the document is issued, and by the Turkish representation in that country.
- Application form for Turkish citizenship, indicating whether the investor submitted only to himself or his family with him (children and wife)
- Documents not sentenced from inside Turkey for each applicant for citizenship
How long does it take to acquire Turkish citizenship by buying a property?
The stages of naturalization are going through the purchase of property in Turkey in several steps, the most important of which is the security study, which determines whether or not to acquire Turkish citizenship. However, from the time the application is submitted, the waiting period for the completion of these full stages ranges from 3.5 months to a maximum of 5 months, until the date on which the Turkish nationality and personal identity are obtained.
Why obtaining Turkish citizenship through real estate is the best?
- The phased depreciation of the Turkish lira has led to a significant relative decline in real estate prices, giving foreign investors opportunities for future profitable real estate investments, with Turkish citizenship as a result of these investments under Turkish laws.
- The Turkish Law doesn’t require the purchase of specific types of real estate, as a condition for obtaining citizenship through real estate investment, but rather to open up various options appropriate to the needs of the investor, such as housing, land, commercial buildings, etc.
- The investor no longer needs to provide the title as a condition for determining the application for citizenship through the real estate investment. The contract of sale, resulting from the purchase of the property based on the engineering scheme, or from the projects under construction, is sufficient.
- The ease of granting the family of the foreign investor the right to Turkish citizenship, but the only exception is the children of the investor over 18 years of age.
The services of Gars Consulting Company to acquire Turkish citizenship through the purchase of a property
Gars Consulting Company offers those wishing to acquire Turkish citizenship by purchasing a property in Turkey, ensuring that the investor has the best prices on the market. Focusing on the choice of vital areas of the property, with a winning investment future. This is done through a team of experts and consultants who walk with the investor step by step by step, until the purchase of the property and the follow-up of the naturalization file to the receipt of the personal identity.
Who can get Turkish citizenship in exchange for the property?
Every foreigner who has purchased property or several properties worth $250,000 or who has placed a deposit in Turkish banks worth $500,000 may apply for Turkish citizenship, provided that such property or deposit is not disposed of for 3 years.
Do Syrians get Turkish citizenship in exchange for buying a property?
Since it is not possible for a Syrian investor to own the property in Turkey directly after his name, some thought that the establishment of a company, and then the purchase and registration of a property in the name of that company, would allow the Syrian to apply for Turkish citizenship in accordance with the said law.
After the team of Gars Consulting Company searched and investigated the subject and asked the specialists, it became clear that the Syrian investor could not acquire Turkish citizenship by purchasing a property in the company's name, whatever the value of the property, so what was the solution?
An alternative would be for the Syrian investor to deposit $500,000 in the bank and apply for Turkish citizenship.
Can you sell the property after you get Turkish citizenship?
Directly, the property cannot be sold 3 years after the date of purchase, and you must write a pledge not to sell the property for 3 years, and this pledge is registered in the printer (within the title deed).
Can anyone who gets Turkish citizenship by buying property give it to their family?
Yes, the family (wife and children) of the foreign investor can be granted the right to Turkish citizenship, but the only exception is the children of the investor over 18 years of age.
Is a Turkish national under the purchase of a property a second degree?
No, but the nationality obtained through investment is "full nationality"; its owner has the same rights as Turkish citizens.
Should we pay for the purchase of the property in dollars or Turkish lira?
It is possible in Turkish lira, but the property must not be purchased in foreign currency (dollar), but the value of the property paid is calculated at the same exchange rate as the dollar on the day the property is purchased.
When can I sell the property after getting Turkish citizenship?
The property can be sold 3 years after the date of purchase, and you must write a pledge not to sell the property for 3 years, and this pledge is registered in the print (on the title).
Can the property be used after Turkish citizenship?
Yes, you can rent the property or offer it for real estate investment, and the tenant can transfer your monthly payments through the bank.
Can you buy more than one property to obtain Turkish citizenship?
Yes, you can buy several properties, provided they have a combined value of $250,000 dollars.
Do children over 18 get Turkish citizenship by buying a property?
The children of an investor who has acquired Turkish citizenship over the age of 18 do not acquire Turkish citizenship.
What is the minimum value of the property needed to obtain Turkish citizenship?
It should be worth at least $250,000.
Edited by Gars Consulting Company
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