CAN I GET ANY PROPERTY FOR TURKISH CITIZENSHIP BY INVESTMENT?

In 2021, between January and May, almost 16.000 people have gained the right and become a Turkish Citizen by purchasing a real estate. This process is completely legal and a registered attorney in Turkey will handle all of the requirements brought by the process.  Majority of the applicants ask that “CAN I GET ANY PROPERTY FOR TURKISH CITIZENSHIP BY INVESTMENT ?”

As a short summary of the steps, firstly, a foreigner needs to buy a real estate property of which the minimum value is 250.000$ or same amount in a different currency such as buying a house that is worth 2.5 million Turkish Lira. This property can be a house or a shop. On this property an annotation must be placed on the title deed that the immovable will not be sold for the following 3 years. Also, the buyer’s spouse and their children will be able to gain Turkish citizenship too. Later, Republic of Turkey Ministry of Environment and Urbanization checks on the annotation to the land registry.

CAN I GET ANY PROPERTY FOR TURKISH CITIZENSHIP BY INVESTMENT?

Foreign people can buy 10% surface of the district, council of ministers can uprise this rate up to %20. A foreign person can buy up to 30 hectares (300.000 m2), council of ministers can uprise this rate up to 60 hectares (600.000m2.)  These properties cannot be in a military or a proscriptive area. The person cannot buy this real estate through his/her company. This real estate must be registered on his/her personal property. There is no limitation in house/shop numbers. (but total real estate surface  area must not be bigger than the m2 that we specified above.)

CALCULATING THE VALUE OF THE PROPERTIES FOR TURKISH CITIZENSHIP BY INVESTMENT ?

At the point of calculating the value of the property, there are 3 things that must be verified. Valuation report, the price of the sale declared in the offical deed and / or the sum of the value determined in the promise of the sale, bank receipt which shows the money transfer. These terms are about the real estate and its buying process.

The other requires documents can be consulted to us. Foreigner wishing to become a Turkish citizen should consider about his/her name or surname because of the Turkish laws. Their name should be suitable in Turkish. He/she can keep his name by writing it down in Turkish language. However, if his/her name or surname is unsuitable in Turkish such as a bad meaning in Turkish or discredit to Turkish culture or people, in that case the person has to change his/her name. After this process, his/her lawyer can write down a paper that shows why this change happened and make sure the client is released from misunderstandings.

In summary, majority of the properties are suitable for Turkish Citizenship by investment. However, for the answer of CAN I GET ANY PROPERTY FOR TURKISH CITIZENSHIP BY INVESTMENT ? question in detail please consult us.