Both property and Turkish Citizenship for 250.000-USD
Turkey is given the right to citizenship in residential sales to foreigners has increased its sales of real estate. Foreigners who purchase houses or real estate for 250. 000 USD can become Turkish citizens, but many companies in the sector do not have information about this method. Companies that sell real estate to foreigners are also requested to be considered exporters.
Member of the Real Estate Investment Trust Association (GYODER) Helmann Consturaction Chairman of the Board of Directors Selman Özgün pointed out that many companies do not know about the right to Turkish citizenship for foreigners who acquire a property worth 250.000 YSD. When the data prepared by REIDIN and GYODER and presented within the scope of the new housing price index are examined, Selman Özgün said that the rate of housing sales to foreigners, which was 6.1 % in the first quarter of 2018, reached 15% in the last quarter of 2018.
Özgün pointed out that with the decision published in the Official Gazette in September 2018, it was possible for foreign investors to acquire Turkish citizenship by acquiring a property worth at least 250.000. This arrangement also applies to individuals who invest at least 500,000 dollars or invest in banks or foreigners who provide jobs to at least 50 Turkish citizens. In addition, according to the new regulation, foreigners can purchase real estate without paying VAT. But he will not be able to sell these properties for at least 3 years, “he said.
NEW REGULATION INCREASED SALES
Stating that the new regulation had a positive effect on sales, Özgün said that in February 2019, real estate sales to foreigners in Turkey increased by 92.1 percent compared to the same month of the previous year and reached 3 thousand 321. İstanbul took the first place in February 2019 in house sales to foreigners, with 1440 houses sold. Istanbul was followed by Antalya with 672 sales,.
THE WIFE AND THE CHILDREN OF THE INVESTOR CAN ALSO BE TURKISH CITIZEN BY INVESTMENT
For foreign investors Turkey become attractive for investment more additionally its very easy to get Turkish citizenship by 250.000 property investment. Besides the spouse and the children below 18 years of the investor can be added to the programme as well.
ANTALYA AND ISTANBUL
Emphasizing that Antalya and Istanbul are particularly important, Özgün explained that the recognition of these two cities in the world is very high, and their transportation opportunities, natural and historical values are also of great importance. Therefore, majority of the investors focus on Istanbul to obtain Turkish citizenship by 250.000 USD property investment.
3 YEARS CONDITION FOR TURKİSH CITIZENSHIP BY 250.000 USD PROPERTY INVESTMENT
The purchase of 250.000 USD for Turkish citizenship has to be annotated to the land registry records and the property cannot be sold for 3 years. However, citizens of Syria, Armenia, Cuba, Israel and Cyprus cannot purchase a property in Turkey