Acquisition of Turkish Citizenship by Property Investment
According to Article 12 of the Turkish Citizenship Law No. 5901; foreign investors to acquire Turkish citizenship in exceptional terms; with 18.09.2018 dated and 106 numbered Presidential Decree, amendatory new arrangements have been made regarding the amounts mentioned in the Article 20 of the Regulation on the Implementation of the aforementioned Law.
Within this scope, foreign investors who purchase an immovable property worth at least 250.000 US Dollars or equivalent in any currency and attached annotation at land registration not to sell the property for three years and for whom a certificate of conformity is issued by the Ministry of Environment and Urbanization, is qualified for the acquisition of Turkish Citizenship.
5 Steps Guideline of Property Investment for Citizenship
1.Property Investment worth at least 250.000 USD in Turkey
A real estate investment of minimum 250.000 USD is the first requirement for a Turkish Citizenship application for foreign investors. The investment pool can consist of a single property or of multiple properties. These properties can be from completed or ongoing projects that are eligible for land register or any other equivalent legal document for the use of authorities. Space Real Estate team will guide you to secure effective solutions for the best investment.
2. Legal Checks and Citizenship Applications
It is essential to employ a lawyer who is specialized in the field of Acquisition of the Turkish Citizenship. Space Real Estate can recommend you several trusted law firms that can prepare all the required documentation and walk you through the whole process.
3. Property Valuation Criteria
Price appraisal of the real estate should be made and certified by the competent authorities. The appraisal value of the property should be at least equal to 250.000 USD equivalence Turkish Lira and the price declared on title deeds cannot be less than the certified valuation rate.
4. Following Requirements
The Citizenship applicant cannot sell the property linked with the application for at least three years after the purchase date. (Any property other than the particular properties can be sold anytime.) Once the application is accepted by the official authorities the prohibition process starts. Land register will be annotated to avoid any possible sale.
5. Becoming Fully Applicable
After the mandatory investment processes are finalized citizenship applications may start. All family members including husband/wife and children under the age of 18 can acquire Turkish Citizenship. The annotation on the land register is lifted off at the end of the required investment holding time and the property can be sold if necessary.
BENEFITS OF ACQUIRING THE CITIZENSHIP
- You can both have a solid investment with regular income and obtain one of the most sought citizenships in the world.
- Visa-free travel to 148 countries is allowed.
- Full free medical assistance for life (for all family members) is provided.
- Pension programs are included.
- Free education and university reimbursement plans are provided.
- Military Service is not required for TCBI (Turkish Citizenship by Investment) Applicants.
- Turkish passport has 10-year validity and is renewable for life.
- Turkey allows dual citizenships.