Turkish Citizenship With Buying Real Estate
Foreigners who meet following criteria may be eligible for Turkish citizenship;
Acquired a property worth a minimum of USD 250,000 ( after 13 June 2022, $400.000) or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years, as attested by the Ministry of Environment and Urbanization
General Information Turkish Citizenship
Turkey is a dynamic and growing G20 economy that links the east and the west in a unique way. In addition to being one of the world’s fastest growing economies, Turkey also supports international investors’ growth via a business-friendly agenda and through access to a large domestic market and neighboring international markets.
Procedure For Turkish Citizenship
- Identify the property you want to purchase according to the budget and desired criteria, and contact the seller.
- Check the registry details of the property together with the seller or the seller’s representative at the Directorate of Land Registry.
- An appraisal report that shows the actual value of the property shall be issued by a company authorized for property appraisal.
- The document shall be checked by the Directorate of Land Registry, and any incomplete items shall be completed. The parties shall be informed about the fees they are to pay for the transaction.
- Apply to the Land Registry Directorate with the documents required to start the sales procedures of the property.
- Deposit the fees. Pay the cost of the property to the seller. Payment can be made via national banks to make it more secure. In that case, the contract price deposited to the recipient’s account shall be blocked and it shall be transferred to the seller’s account after the contract is signed.
- Sign the official contract issued by the Directorate of Land Registry for the sale, under the presence of a public officer, and the sales transaction will be completed when the contract is signed.
Conditions For Turkish Citizenship
- An agreement shall be reached for the property to be purchased. The value of the property must be minimum USD 250,000 ( after 13 June 2022, $400.000).
- A “property assessment report” shall be obtained by applying to one of the organizations authorized by Board of Capital Markets (SPK) for property assessment.
- Application shall be made to the directorate of land registry with the required documents.
- The directorate of title deed checks whether the receipt, appraisal report, and the declared values satisfy the criteria required in the directive.
- If the required conditions have been satisfied, the title deed fee required to be paid for action and the revolving fund payment shall be communicated to the related person by SMS.
- The appointment time to sign the contract after the payment of the fees shall be communicated by SMS.
- After the contract is signed and completed, a statement indicating that the property may not be sold for three years shall be registered and the title deed of the property shall be handed over to the landlord.
- Following the completion of the transaction, the directorate of land registry sends the transaction documents via the system to the General Directorate/Regional Directorate to issue the “certificate of conformity” for citizenship application.
- The ‘certificate of conformity’ issued after the necessary checks have been completed is sent for action to the General Directorate of Census and Citizenship and General Directorate of Immigration Administration with an official letter, and for information to the related individual by e-mail.
Required Documents For Turkish Citizenship Application
- Biometric Photograph
- Power of Attorney
- Taxpayer ID Number
- Property Expert Report
- Bank Transaction Details
- Insurance Policy
- Official Translation
Contact For Turkish Citizenship
We hope this guide will benefit who are interested in buying property and acquiring citizenship in Turkey. Please feel free to get in touch with us from [email protected] about any of your business-related queries. For more information please visit B International.