Turkish citizenship by real estate investment

Turkish citizenship by investment

Turkish citizenship by real estate investment

In this article we are going to show the basic information that interest people who are planning to invest in the Turkish real estate market, Along with getting the Turkish citizenship :

  • The main decisions issued to facilitate the process of investing in the Turkish real estate
  • The importance as well as the strength of the Turkish passport in the world
  • All required papers and official documents
  • The most known questions about buying property in Turkey
    Citizenship decisions in the republic of Turkey
  • On 19/09/2018, the Turkish government issued a law concerning foreign investors who want to get the Turkish citizenship, result in, owing a property of 250,000 USD or more in Turkey.
  • So according to this decision, the Turkish President Recep Tayyib Eedogan issued clear instructions to the government institutions in order to facilitate the procedures of getting the citizenship for those who meet the conditions.
  • The amendment of the law was in the purpose of reducing the value of the investment in real estate ownership from 1,000,000 USD, according to the decision issued on 12 January 2017, to the new value of 250,000 USD, Along with taking into consideration the condition of not selling the property during the first three years.
  • Another amendment provided to cut down the value of the fixed investment so as to get the citizenship for only 500,000 USD instead of 2,000,000 USD.
  • Also, a project owner or company who can provide job opportunities for 50 Turkish citizens, is entitled to apply for the Turkish citizenship; Knowing that previously the required number was 100 job opportunities.

 

Exceptional ways to get the Turkish citizenship

  • Being a resident in Turkey with a work permit of 5 year

The worker, who has an official work permit for a period of 5 years, is entitled to apply for the citizenship. In the same way, student who finish their studies in the country and get a work permit after graduation for a period of 5 year can as well apply for the citizenship.

  • The exceptional citizenship

It is awarded to qualified expats and residents in the Turkish Republic.

 

The features of getting the Turkish citizenship

Turkish citizenship gives its holder a lot of privileges :

  • Obtaining full citizenship rights, including the right to vote and be elected.
  • Obtaining full medical services, health insurance, as well as the right to benefit from the retirement programs.
  • Benefiting from free public education at all academic levels, from primary education to university studies.
  • The privilege of dual citizenship. So by getting a Turkish passport you are not obligated to renounce your native nationality.
  • Travelling easily to 114 countries around the word, 72 countries do not require a visa, Such as Japan, South Korea, Indonesia and Qatar; While 42 other countries require a visa in order to reach its lands, for instance, Kuwait, Bahrain as well as South Africa.
  • Also, you can travel to 7 countries after getting an electronic visa, like Sultanate Oman and Australia.
  • Most of the countries of the world give the Turkish passport holder a period of resistance ranging from 30 to 90 days upon arrival

 

Countries that the Turkish passport holder can reach without visa

Asia :

Belarus, Azerbaijan, Hong Kong, Georgia, Singapore, Malaysia, South Korea, Kyrgyzstan, Iran, Bangladesh, Brunei, Cambodia, Mako, Niland, Indonesia, Japan, Jordan, Iraq, Kuwait, Lebanon, Sultanate Oman, Qatar, Bahrain, Philippines, Maldives.

Africa :

Libya, Kenya, Tunisia, Morocco, Sudan, Madagascar, Senegal, The Isles Islands, South Africa, Tanzania, Botswana, Gambia, Madagascar, Mozambique, Fiji, Cape, Verde, Benin, Mauritius, Rwanda, Swaziland.

Europe :

Albania, Armenia, Bosnia, Kosovo, Macedonia, Moldova, Montenegro, Turkish Cyprus, Serbia, Ukraine, Bulgaria.

Latin America :

Argentina, Brazil, Chile, Mexico, Panama, Paraguay, Uruguay, Peru, Bolivia, Trinidad and Tobago, Venezuela.

Northern America :

Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, EL Salvador, Guatemala, Haiti, Honduras, Jamaica, Nicaragua, Saint Kitts and Nevis, Saint Lucia.
Required Documents

 

Personal documents:

  • Three copies of the passport of the person who is applying for the citizenship, translated and certified by the notary.
  • A copy of the passport translated to Turkish and certified by a notary for all family members, husband, wife, and children under the age of 18 years as well.
  • Proof of marital status ( married/ divorced / widowed ) through ( marriage contract as well as family book, document of divorce, death certificate ) respectively, in which the dates are clearly indicated by day, month, and year, Along with being certified by ‘’Apostille’’. ( Translated – Certified by the foreign consulate of the country of the person applying for the citizenship and by the embassy or the Turkish consulate in his or her country ).
  • Birth certificate for each one of the family member, certified by ‘’ Apostille’’. ( Translated – Certified by the embassy of the country of the person applying for citizenship or the Turkish consulate in his or her country ).
  • The amount of the accommodation fee.
  • If the person applying for citizenship has children, an official document is required to prove the partner’s consent about acquiring the children the Turkish citizenship.( This approval document can be certified by the notary in Turkey, or in the Turkish embassy or consulate in the country of the applicant ).
  • Health insurance of the main applicant
  • A copy of the last access stamp to turkey in the passport ( If the person travelled to Turkey by visa, a copy of it must be printed; Or if he or she travelled to Turkey using an electronic visa, a copy of the electronic visa must be taken as well ).

 

Real estate’s documents:

  • A copy of the title deed of the purchased real estate, or the sale agreement document that must be certified by a notary.
  • Valid real estate appraisal report, which can be extracted within two or three days by an official real estate appraisal institution licensed by the state but has a specific issuance cost.

‘’ The validity period of the real estate appraisal report is 3 months ‘’

  • Official proof confirming the purchase as well as the payment of the property value, through
  • Original receipts from the buyer’s account, signed with original stamp from the sending bank.
  • Original receipts from the seller’s account, signed with an original stamp from the receiving bank.
  • Lawyers’ agency, 2 original copies from the agency of the citizenship application, which the investor gives to the attorneys team to submit the citizenship file and follow it up till the official departments.
  • In case, the investor’s wife / husband is added to the citizenship file, a similar power of attorney must be provided for both spouses, Also it is possible to make one power of attorney for the client and his or her partner

 

Summary of the main steps:

  1. The customer’s choice of the appropriate real estate or properties – apartment, land, commercial store, with the condition that the value of each real estate or all the properties would be 250,000 USD.
  2. Evaluating the property through specialized evaluation companies licensed by the Turkish government in order to ensure that the actual value of the real estate is equal to the amount required.
  3. Preparing the documents required at the Foreigners’ Citizenship Application Center.
  4. Submitting the transaction after processing it to the official center of personal status and immigration, then to the Ministry to complete the official procedures according to the stipulated period.

 

The steps of getting the citizenship:

  1. First month, a certificated of conformity is obtained from the land register.
  2. Second month, the investor’s residency is obtained.
  3. Third month, the citizenship is acquired.

 

Common questions and inquiries:

Q/ Does the real estate investment amount must be in only one property, or can I buy more than one property ?

A/ It is not required to buy one real estate for the full amount, but you can also buy more than one property in different areas, but representing them all in the same file, Along with meeting the following know condition: The total value of the properties must be 250,000 USD or more.

Q/ Could my wife as well as children as well get the Turkish citizenship ?

A/ Yes, your wife as well as all children under 18 years, would be able to obtain the citizenship, as you apply all in the same file.

Q/ How is the property value controlled ?

A/ The property is evaluated by the real estate appraisal companies approved by the Turkish government.

Q/ How long does the real estate ownership process take to be evaluated so as to get all official papers ?

A/ The evaluation process takes about two or three days, while extracting the ‘’Tapu’’ needs three days. The rest of the papers required from the Foreigners’ Authority take about 10 or 15 days. After that, the official center of personal status and immigration where it spend about 5 to 7 days, and finally will be sent to the Ministry for final approval, where the remining period is completed.

Q/ Can I pay the value of the property with installments payment while applying for the citizenship ?

A/ Yes, you can do that if the if the value of the first payment of the property price exceeds the amount of 250,000 USD in case the total price of the property does not exceeds 250,000 USD you must wait after completing the allocated amount then you can apply for the citizenship.

Q/ Can I pay the property value cash upon purchase ?

A/ The purchase process requires payment exclusively through a bank transfer from your own account to the seller’s account, where the bank transfer can be made inside or outside Turkey. So, the payment receipts are considered as official proof of the purchase. That’s why they must be presented in the citizenship file.

Q/ Can I buy the properties of my brother, wife, or doing the opposite ?

A/ No, this is not possible because you are required to buy the property from a Turkish person or company that works exclusively with Turkish capital as knowing that real estate purchased from foreign people cannot be used for the purpose of getting the citizenship.

Q/ Can I sell my properties immediately after purchase ?

A/ No, as you will undertake in the title deed not to sell the property for a period of three years

Q/ Are there any conditions on the property that prevent benefiting from it or getting a material income as well ?

A/ There are no conditions that obligate the owner of the property not to rent it or prevent benefiting from it, whether the property is residential or commercial.

Q/ Can I benefit from the citizenship law concerning previous real estates that I have purchased earlier ?

A/ The fact of benefiting took place from the time the new citizenship law was issued, which is applied on real estates that were purchased after their entry into effect which means after the following date: 09/19/2018

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