The Turkish Citizenship laws which was instituted on 12.01.2017, have been recently amended by the Turkish Government. By the new amendment to the original laws, published on September 18, the minimum limit for Turkish Citizenship by investing in a property decreased to 250.000 USD from 1 million USD.
Types of Citizenship by Investment in Turkey
Announced in 2018 by the Turkish government, nationalities who are permitted to buy properties or invest in Turkey, are eligible to become a Turkish citizen. This implies to anyone who:
- Has bought property worth above 250,000 USD (which was 1 million USD before), or
- Has deposited minimum 500,000 USD in Turkish banks for three years (which was 3 million USD before),
Also people who:
- Has invested at least 500,000 USD as fixed capital in business (which was 2 million USD before), or
- Has bought government bonds worth 500,000 USD and keep them for three years (which was 3 million USD before) , or
- Has employed 50 Turkish people (which was 100 before).
Turkish Citizenship through Purchasing Real Estate Property
All nationalities who are able to buy property in Turkey, may apply for Turkish citizenship by investment. For each application, only one person and his/her spouse along with children below 18 can get citizenship without renouncing their current citizenship. After buying properties valued above 250.000 USD and transferring the Title Deed to buyer’s name, the buyer must apply to the Office General Directorate of Land Registry and Cadaster, to obtain Turkish Citizenship.
The application will be sent to Ministry of Environment and Urbanization for verifying the value of the properties, and then to General Directorate of Population and Citizenship Affairs for final signatures and approvals before issuing the Turkish passport and National ID cards. The whole process takes three to six months and residence permit is granted to buyer and his/her family during the procedure.
The Procedure of Obtaining Turkish Citizenship by Investment
1: Opening a Bank Account in the name of the investor in a Turkish bank.
2: Carrying out the investment transactions such as deposit, purchasing down payment, property title deed transfer, government bond/share purchase etc.
3: Applying for Residence Permit as required at the time of citizenship application. However, residency permit holders can live abroad as long as they wish. (Items 1 and 3 can be replaced in some cases)
4: Applying for Turkish Citizenship. Physical presence of the property owner or his family is not required during the application process.
Our team of experts will manage your investment process from sourcing the most suitable property in the best possible location, as well as negotiating the best possible price and payment terms for you, and we serve our esteemed clients with above mentioned services all free of charge. Also we do take care of the required post-sales services for buyers and investors who are not willing to get involved in post-sales cares, chargeable based on the queries.
We work for and on behalf of YOU as the buyers and investors, NOT for the seller.