Iran is At the Top for Turkish Citizenship by Property Investment

As a result of the amendment in the Turkish Citizenship by Property Investment Law in September 2018, real estate market gained momentum once again with the demand of foreign investors.

In April, the measures taken due to COVID-19 were also reflected in property sales in Turkey. The number of properties by purchased by foreigners in Turkey in the first four months of this year decreased by 12 percent compared to the same period of the previous year.

Iran became number 1 on the list as of 2020 May for purchasing a property for Turkish Citizenship.

According to the Turkey Statistical Institute data; In the January-April period of 2020, there was a remarkable development in the sales of properties to foreigners for Turkish Citizenship. Iraq has been number one for a long time, however Iran rose to first place for Turkish Citizenship by property investment. Iranian purchase property especially in Istanbul. Istanbul is an attractive location for Iranians to do business and settle down.

Increasing Demand of Iranians to Turkish Citizenship

Stating that there has been a steady increase in the property purchase rates of Iranian citizens since 2018,

The number of 792 in 2017 and 3 thousand 652 in 2018 increased almost 7 times in two years and reached 5 thousand 423 in 2019.

Despite the COVID-19 outbreak effect, the number of Iranian property purchases in Turkey has approached half of last year in the first 4 months of this year.

Some of the Iranian citizens purchase the property for residence permit purpose in Turkey. Since the threshold  value for property for Turkish Citizenship is 250.000. On the other hand there is no such threshold value for residence permit in Turkey.

Which means in order to obtain Turkish citizenship an applicant has to purchase a property with the amount of 250.000-USD. However, if an applicant does not have this amount of budget with any amount of property purchase s/he can apply for residence permit in Turkey.

However it should be known that benefits of Turkish Citizenship and residence permit of Turkey is

What is the difference between Turkish Citizenship by Investment and Residence Permit in Turkey?

Residence permit in Turkey solely gives allowance to legally stay in Turkey. It does no grant even working permit.  Additionally, the residence permit is temporary. When the granted period is the extension is required. Residence permit of Turkey does not grant any advantage on the visas of other country.

On the other hand, when someone obtains Turkish Citizenship by property investment, his/her status will be completely equal to Turkish Citizens by born.  Additionally, the family members of the applicant can be added to Turkish Citizenship programme.  For further information about the benefits of Turkish Citizenship please consult us.

Company Registration in Turkey by Iranians

According to data  of Turkey Union of Chambers and Commodity Exchanges from 2019; Iran ranks first with 970 companies in the number of companies with foreign joint capital, and according to the data of the first four months of this year, it ranks first with 255 companies and partnership capital of approximately 40 million TL. In the first 4 months of this year, companies with Syrian and Iraqi partners follow Iran, respectively. When we look at the fields of activity of companies with Iranian capital, as in the previous year, the field of wholesale and retail trade ranks first in the first 4 months of this year.

The reason behind why Iranians show great interest on company registration in Turkey is probably the sanctions applied against Iranian companies.  Additionally, the simplicity of Turkish Company Registration Process for Iranians make this option attractive. For the company registry in Turkey service please contact our experts.

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