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Today, many foreign investors around the world are informed about the possibility of obtaining Turkish citizenship for free when buying a property or a group of properties worth 400 thousand dollars. Today we will talk about the beginning of this law, what are its conditions, how to apply for Turkish citizenship, and we will also discuss some ideas for successful real estate investment projects. Today in the market.
When did the law on obtaining Turkish citizenship in return for buying real estate start?
Munther began allowing all foreigners to own real estate in Turkey, and that dates back to early 2010, when the law was issued to grant Turkish citizenship to investors who buy real estate worth one million dollars or make a bank deposit of 2 million dollars, and obtaining Turkish citizenship in exchange for buying real estate worth one million dollars is considered a normal factor and not Attractive due to the availability of countries with a stronger passport and the required investment amount of less than one million dollars.
But the great transformation that took place in the Turkish real estate market is on the date of September 18, 2018, when the amount required for investment was reduced from one million dollars to a quarter of the value (only 250 thousand dollars), which led to a very high foreign demand for real estate in Turkey, which reinforced this Turkey is an Islamic country that is rapidly developing and competing strongly with European countries , which prompted thousands of investors to buy real estate in Turkey and obtain Turkish citizenship for themselves and their families , even now when the limit become 400 thousand dollars still there is high demand at real estate market.
What are the conditions for obtaining Turkish citizenship through real estate investment?
1- Purchasing a real estate or group of real estate with a value of at least 400 thousand dollars.
2- A pledge not to sell these properties for a period of 3 years.
3- A real estate appraisal must be obtained from a government agency that proves that the value of these properties is equal to or more than 400 thousand dollars.
4- The title deed should be ready because through it the citizenship will be submitted.
5- Payment is made by bank transfer to the construction company directly from a bank account inside or outside Turkey.
6- Turkish citizenship will be granted to the investor, his wife and children under the age of 18. As for the children over the age of 18, they are considered independent people capable of owning real estate, and each of them must buy a property worth 400 thousand dollars to be eligible for Turkish citizenship.
Note: Resold real estate often does not get a real estate appraisal equal to its real value, and therefore it is better to avoid it if the purpose is to obtain Turkish citizenship, especially since the successful real estate investment in Istanbul is in projects that are often under construction.
What are the papers needed to obtain Turkish citizenship in return for buying a property in Turkey?
A copy of the Tapu (the title deed of the purchased property), or the contract of the promise to sell with the notary public (the notary).
A valid real estate appraisal report, bearing in mind that the validity period of real estate appraisal reports is three months, with a value not exceeding the value recorded in the title deed, and has a specific issuance cost, and is extracted within two or three working days by an appraisal institution licensed by the Turkish government.
Original payment receipts from the buyer’s account, stamped with a live seal from the sending bank.
The original receivables from the seller’s account, stamped with a live seal from the receiving bank, and these receipts are the approved proof that proves that the value of the property has been paid and transferred from the seller’s account to the buyer’s account.
Two copies of the power of attorney for the application for citizenship, granted by the investor to the legal team to submit the citizenship file, and follow up with the official departments. The agency is organized by the notary public in Turkey (Notre) and at an estimated cost of 600 to 700 Turkish liras per copy. In the event that the investor’s wife/husband is added to the naturalization file, a similar agency must be submitted for each of the spouses, and one joint agency can be organized for the client and his wife. The fees of the legal team vary according to each case in terms of the number of papers, the number of individuals within the file, and others.
Translation of the passport into Turkish, certified by the notary public in Turkey (Notre) for all family members: husband and wife, and children under 18 years of age.
A copy of the last visa and entry to Turkey.
What are the steps to obtaining Turkish citizenship by buying a property in Turkey?
Buying a property worth $400.000 or more, and the amount must be transferred through the bank with the value we mentioned or a higher value, in addition to stating the reason for buying the property (this property was purchased to obtain Turkish citizenship).
The original payment receipts are stamped from the sending bank (buyer’s account) to the account of the construction company (seller), and the seller must be exclusively Turkish.
The purchase value recorded in the title deed is calculated according to the Turkish lira rate in the Central Bank on the day the title deed was obtained.
The government evaluation of the “purchased” property, issued by a committee appointed by the Turkish government, must be done, so that the price mentioned in the evaluation does not exceed the price of the property, as the result of the assessment must be issued that the property is worth $250,000 and above, then the property is registered in the registry real estate. After that, the property will be reserved for a period of three years, in order not to sell it and in order to obtain Turkish citizenship.
At this stage, we are waiting for the issuance of a paper confirming that the person who bought the property is suitable for obtaining Turkish citizenship, and this paper is issued by the Land Registry in Ankara and comes via the e-mail of the person who booked the property, as we mentioned in the previous step.
Submit a request for an investor residency appointment for the person who purchased the property, and prepare the documents required for submission.
At this stage, the investor must go to the Chamber of Commerce. There is a room dedicated to foreign investors in order to deliver the file by hand or exclusively through a lawyer who delivers the file and signs it.
On the next day, the citizenship application is submitted to the Chamber of Commerce for the investor and all his family members.
After submitting the papers and the citizenship file, the follow-up is carried out through a special website, through the application number that was provided by the employee receiving the file.
When the citizenship is issued, the investor and his family go to the Department of Public Souls “Omniyat”, and a role is taken on a list called “Registration”. The passports of the father and mother and two personal photos of them are presented, then they sign the papers.
In this step, you must go to the nearest PTT center or Ziraat Bank to pay the fees for obtaining the identity document and passports, often the identity document costs 90 TL, the passport costs 1150 TL. The duration of the passport for adults is 10 years, for children 5 years.
Here you must attach 4 personal photos for each of the father, mother and children, and go to the department of souls in which they were previously registered, there the application for identity and passports is submitted based on the papers received from “Omniyat”, we give them the papers and they provide us with a temporary identity paper After two days, the family’s ID cards and passports are sent by mail to the address mentioned in the last request at the Soul Department.
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