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Turkish CitizenshipIs It Time to Buy A House in Turkey?

March 17, 20200
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Turkish Citizenship by Investment 2020

Is It Time to Buy A House in Turkey?
You can accomplish several goals by buying a house in Turkey. The most common way of obtaining Turkish citizenship is buying property in Turkey, which has a lot of benefits. By the end of 2018, Turkey earned more than 250 citizenship applications via investment worth approximately $100 million. Applications for citizenship in Turkey are predicted to increase as the country has simplified its requirements in 2019. A large number of foreigners coming to Turkey aim to take advantage of the right of citizenship by buying houses. Statistics show that people from Arab countries and Iran show more interest in buying properties in Turkey.

The minimum amount of investment has decreased recently from one million dollars to 250,000 USD. The Turkish government believes that the applied changes in the program’s policy will benefit the investors as it lowers the risks for the foreigners. The new rules have facilitated acquiring Turkish citizenship for those who intend to buy a property. These people are required to get a land registration certificate, with the annotation of sale ban for at least 3 years, from the Ministry of Environment and Urbanization. So, what are the advantages of investing in Turkey? Find some of the benefits in the following.

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Advantages of Buying A Property in Turkey

  • You can obtain Turkish citizenship at the same time as your spouse and children under the age of 18.
  • When you apply for citizenship, you do not need to declare your assets or income in other countries.
  • You can continue to live abroad and apply for citizenship as soon as you get the residence permit.
  • According to statistics, Turkey’s real estate market sees a 5% capital growth every year.
  • You can cash out your investment after three years. The total capital appreciation of the Turkish property market is 12 percent per year.

Other benefits include the multicultural environment, low cost of living, rich history as well as easy and reliable investment process.

Benefits of Turkey Citizenship Program

  • No language requirements
  • Access to 118 countries without a visa
  • Citizenship approval in less than six months
  • No obligation to renounce current nationality
  • The rapid application process, obtaining residency within three weeks
  • Being able to open bank accounts at international banks around the world

How to Obtain Turkish Citizenship?

New and flexible conditions for foreigners to obtain Turkish citizenship were passed in Parliament. With the decision published on 19.09.2018 on the Turkish Official Gazette, The law on obtaining Turkish citizenship for foreign investors has changed.

Q: How to become a Turkish citizenship and how does this process work?
A: After purchasing the property valued above 250.000 USD, you can apply to General Directorate of Land Registry and Cadastre (Tapu ve Kadastro Genel Müdürlüğü in Turkish). It is one of the fastest ways of getting Turkish citizenship. This application form is sent to Ministry of Environment and Urbanization. Appraisers check and verify the value of the properties if they are more than 250.000 USD value. But bear in mind, you will not be allowed to sell this property up to three years. Finally, the application is sent to General Directorate of Population and Citizenship Affairs and you are invited for final signatures.

Q: Do I need to purchase only one property above 250.000 USD or can it be multiple units?
A: You can purchase various properties with a total value of more than 250.000 USD. But you need to apply at the same time for all. If the declared values are above 250.000 USD, General Directorate of Land Registry and Cadastre accepts citizenship applications.

Q: Will my citizenship be granted when I fulfill the requirements?
A: No. Primarily, it should be verified that the applicant did not pose a threat to national security.

Q: How much does this process take?
A: It takes time within 30 days if all the required documents are complete for the citizenship application.

Q: Will my family get Turkish Citizenship?
A: Yes. Citizenship is granted to you, your wife / husband and your children under the age of 18.

Q: Can I purchase a commercial property with rental income guarantee? Does this allow me to get citizenship by investment?
A: Yes, any type of property fits.

Q: How should I calculate the dollar and Turkish lira exchange rate?
A: General Directorate of Land Registry and Cadastre calculates the lira/dollar rate on an application date in accordance with the rate of the Turkish Central Bank.

Q: What is the responsibility of the Ministry of Environment and Urbanization?
A: The Ministry verifies that the value declared in the Land Registry is more than 250.000 USD with sworn experts. All the property value must be paid to the Property Sellers by bank transfer.

Q: Do you help in the process of applying and getting a Turkish citizenship?
A: Istanbul Homes’ will be with you and guide you through the whole process.

Q: Can I apply for citizenship with the property I bought earlier?
A: You can apply to Turkish citizenship with title deed applications after 20.09.2018.

Q: Who may apply for a Turkish passport? Which nationalities?
A: All nationalities who buy property with a value of more than 250.000 USD can apply. 

Q: What documents do you need to get Turkish citizenship?
A: After purchase property with us, Istanbul Homes team helps you to supply all required documents.

Q: The process of getting Turkish citizenship takes about 2 months. Can I get Residence Permit during this process?
A: You and your family can get a Residence Permit. (No:6458/31-J)

Q: What is the most critical point we need to know?
A: Ministry wants to make sure that the minimum value is 250.000 USD. Sworn property valuation companies validate that the price is correct in order to prevent from price fraud. Appraisers might have up to %20 diversion (difference) than its sales price. Thus Istanbul Homes advise you to buy property calculating this evaluation.

Q: Do I need to come to Turkey to get citizenship?
A: No. Istanbul Homes follow up for you all process from the begin until the end with power of attorney.

Q: Can more than one person apply for one Title Deed?
A: Yes. You, your wife (or husband) and all your children under the age of 18.

Q: We have got a child above 18 years old. Does he/she get Turkish citizenship with us?
A: No.

Q: I have an invalid child/children above 18 years old. Can him/her get citizenship?
A: If you prove they can’t take care of themselves, they may obtain Turkish citizenship with their parents with special application documents.

Q: If I become a Turkish citizen, do I have to do military service?
A: If you are able to prove that you served to military in your home country before or if you are above 22 years old in the day you gained Turkish citizenship, you do not have to do military service in Turkey.

Q: How do I obtain citizenship in Turkey as a stateless person?
A: When you purchase at least 250.000 USD property, you can apply to Turkish citizenship with a required document certifying applicant’s statelessness. (Travel document issued by the United Nations.)

Q: Is there an alternative way for Turkish Citizenship?
A: You can apply for a Turquoise Card if your budget is not enough to acquire Turkish citizenship by investment. The Turquoise Card serves as the Green Card of the United State. Turquoise Card gives its holder all the rights of a citizenship except for the right to vote and the mandatory military service for the men.

Q: Is it possible to have multiple nationalities in Turkey?
A: Turkey Government allows multiple nationalities. However, you may check with your consulate regarding your original nationality cause some countries such as China, India and Saudi Arabia do not recognize multiple nationalities.

Q: When I become a Turkish citizen have to renounce my current citizenship?
A: No, Turkish laws allow dual or multiple citizenships. It depends on your own state regulation.

Q: Is it necessitate living in Turkey to obtain citizenship?
A: No.

Q: Is there any necessity for the applicant to bring his/her whole family to Turkey during any phase?
A: There is not a necessity to bring your whole family to Turkey during any phases. Only documents belonging to your whole family should be with you.

Q: Is there any necessity for interview or test at any phases?
A: No.

Q: Is the applicant chance to do any business in Turkey?
A: Yes.

Best Cities To Live in Turkey
Considering the cost of living, recreation, weather, security and quality of life, Turkey’s best cities to live in are as follows: Istanbul, Antalya, Izmir, Gaziantep, Konya, Alanya

 

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