| Date: | Thursday, January 12, 2023 |
Considering that Turkey is a country of facilities for foreigners, the Turkish presidential decision has opened the door for the progress of…0
Considering that Turkey is a country of facilities for foreigners, the Turkish presidential decision opened the door to providing great facilities for foreigners to obtain Turkish citizenship . The most prominent and important of these facilities is obtaining Turkish citizenship through investing in Turkish real estate .
The basic conditions for obtaining Turkish citizenship through real estate investment are the following:
The value of the property must not be less than $250,000.
It is possible to apply for Turkish citizenship through real estate owned in Turkey in installments.
The property can be purchased from a foreign or Turkish citizen, provided that he is not related to the buyer.
The property cannot be purchased from a company registered in Turkey owned by the buyer or one of his relatives.
Obtaining the evaluation from the Real Estate Department (Tabu) with the real price of the property, noting that the validity period of the evaluation does not exceed three months.
The evaluation amount should not be higher than the purchase amount, taking into account the presence of value-added tax, so that the evaluation value is equal to the purchase price without tax.
That the investor has obtained the title deed of the property or a promise-to-sale contract certified by the Notary and registered with the Land Registry, provided that the price has been transferred in full.
The transfer notice must be $250,000 and above from the buyer's personal account to the owner's or project account, avoiding transferring through agencies. In the event of purchase from a project, it must be noted that the name of the account holder to whom the account is transferred is different from the name of the owner of the property, as in this case a document proving the relationship between them must be requested (according to whether the land is owned by the project or by an external owner).
The transfer notice must include an explanation of the reason for the transfer ( purchasing a property , for example).
The notice must be attested by the entity issuing it, for example, the bank.
Exemption from the requirement to present a bank receipt in applications for obtaining citizenship through real estate purchased from some joint venture companies with the public sector
People who have purchased a property worth $1 million as of 12/01/2017 are not obliged to prove their payments through bank receipts. This feature applies even if the property was purchased from private individuals or companies.
It is possible to apply for citizenship during or after the transfer of ownership, with a statement that the property was purchased with the aim of benefiting from the Nationality Law and a pledge not to sell for a period of three years.
In the event that there is a mortgage on the property, it must be lifted within five days from the date of purchase in order to benefit from it by applying for citizenship (it is preferable to remove it before transferring ownership).
There is no time frame for purchasing, that is, it is possible to buy more than one property with separate periods of time in order to obtain citizenship, while paying attention to conducting an evaluation of all properties when submitting the application.
In the event of buying a property in installments or under construction:
All installments must be paid before submitting the application.
Obtaining an easement title deed (Kat Irtifaki), which is a title deed proving the ownership of the deed holder in the building that will be built or that will be built on a specific piece of land. From him and to whom his ownership belongs, and in the event of the completion of the project or construction with the approval of housing from the municipality (if it is in accordance with the Turkish standard conditions and standards), the easement deed turns into a complete title deed.
There is no mortgage on it (in the event that there is a mortgage, it must be confirmed that it can be lifted).
After meeting the previous conditions, the Land Registry Department submits the application to the General Department of Land Registry and Land Registry , which in turn studies the request and sends an e-mail carrying a letter of authentication or conformity (Uygun Bilgisi), which states that the real estate or real estate purchased at the paid value conforms to the stipulated conditions. It is required by law to obtain Turkish citizenship.
Real estate investment in Turkey is the first choice for many investors who want to obtain Turkish citizenship. But there are other ways that enable you to obtain Turkish citizenship as well.
Related Blogs:
Istanbul Apartment Prices Guide
How to buy an apartment in Turkey
Residence in Turkey by buying a property
The cheapest apartments for sale in Turkey 2020
Buying apartments for sale in Istanbul in installments
Ways to obtain Turkish citizenship
Real estate investment in Turkey
Tips for buying a property in Turkey
Istanbul real estate 2020 _ 2021
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