Turkish citizenship by real estate investment
Turkish media on Wednesday published a decision to amend the executive regulation to apply the law on the acquisition of Turkish citizenship in the following ways:
1-through real estate investment worth 250 thousand dollars or equivalent to the Turkish currency on condition of non-pledge for three years.
Fixed investment worth more than 500 thousand US dollars.-2
. Employing at least 50 Turkish citizens instead of 100 citizens-3
A bank deposit of 500 thousand US dollars instead of 3 million dollars previously.-4
5-Buying through the tools of borrowing the state of 500 thousand US dollars or other currencies.
The Turkish government reduced the amount of real estate investment from 1 million US dollars to 250 thousand and was later amended to include real estate under construction than the decision was limited to ready-made properties while maintaining the value of 250 thousand dollars and pledge not to sell the property before the expiration of 3 years and start work With the new amendments to the contracts that took place after December 7, taking into consideration that the owner investor has the right to contract after 19 September of this year to apply for Turkish citizenship and the conditions of applying for Turkish nationality, the investor must be paid a Full amount of 250 thousand US dollars at the time of submission of the application and shall not be buying a foreign citizen from another knowing that purchases before the date of 7/ December is not taken into account.
As for the calculation of the value of the property on exchange rates: The amount of the value of the property will be calculated on the exchange rate of the US dollar on the day of receipt of the deed of title and not on the date of the contract of sale or purchase at the notary public and furthermore the Turkish government to provide other facilities for men for the work of the Ministry of Interior Turkish in the next period through the immigration services in the large Turkish cities and specializes in facilitating the provision of special services and fast under the name of businessmen.
Points to be considered by investors that are not mentioned in the law on granting citizenship
-The real estate that has been bought in the form of the purchase (purchase of property from persons who had previously purchased the property) currently enables the investor to apply for Turkish nationality. However, it is possible in the coming days to issue a circular in which the possibility of naturalization is canceled. This decision is to attract foreign currency to Turkey.
-Investors who wish to obtain Turkish nationality will have to provide proof of payment and then the property which received the relevant stamp document after 19.09.2018. The payment must be made by bank banks exclusively. A review for citizenship.
-The law also stipulates that the property should not be transferred to the applicant by his wife or children.
-The amendments also stated that it is not possible to apply for Turkish citizenship if there is a mortgage on the properties mentioned. If the mortgage is partial to the property and the other conditions are met, the right to apply for Turkish nationality is provided that the value of the properties not subject to the top of the 250 thousand dollars.
1-When you buy any property from Turkey in order to progress on nationality there can be a difference between the price of the real estate and the amount that may be the state of Turkey is worth that you can buy property worth 250 thousand dollars, but you are not entitled to apply for Turkish nationality because the government’s assessment For this property may be less than 250 thousand dollars and therefore should be careful and check the price of the actual property before buying
We do AKAR 101 to assess the real estate price before the sale and offer projects the highest price assessment in the State of Turkey (Property Valuation Report)
2-You can buy several properties worth a total of 250 thousand dollars and you are not bound by one property the same value
The law applies to all types of real estate in Turkey, whether commercial or residential-3
4-The period specified for the completion of the procedures for the treatment of nationality is 45 days provided that all conditions are met
5-For Syrian nationality holders, they are unable to benefit from the Turkish nationality clause in real estate investment, but other items may be used
6-For the military service to real estate investors with the aim of Turkish nationality is exempted from them if the age exceeds 22 years
7-When purchasing the property to apply for Turkish nationality must be the owner of nationality or Turkish company exclusively