Turkish citizenship by investement
Turkish citizenship by investment
Turkey is among the countries that offer citizenship by investment in its lands, knowing that there are many countries in which it is possible to obtain residency or citizenship by investment, which helps to speed up the acquisition of citizenship.
The Turkish passport has several advantages because it allows the holder to travel more easily so that he can travel to more than 110 countries without a visa or with a visa upon arrival.
Obtaining Turkish citizenship through investment is stipulated in Article 12 of Law No. 5901 regarding Turkish citizenship on 05/29/2009. Conditions were laid down, as a first step, in the executive regulations. The Turkish Citizenship Law entered into force by the decision of the Council of Ministers No. 2010/139 dated 11.02. 2010. The purpose of this facility is to attract more investors and capital to Turkey.
To obtain Turkish citizenship by investment, there are five methods:
• Buying a property with a value of at least $ 250,000 with a 3-year transfer ban,
Deposit $ 500,000 in a Turkish bank for a period of 3 years,
• An investment of $ 500,000 in government bonds for a period of 3 years,
• An investment of $ 500,000 in fixed capital.
Creating 50 job opportunities in Turkey for Turks.
Citizenship is granted without the applicant necessarily being physically residing in Turkey and without showing any real connection to the country, it is sufficient for him to have fulfilled one of the five conditions mentioned above.
One of the most common ways to obtain Turkish citizenship is to invest in real estate. Obtaining Turkish citizenship by investing in real estate is the preferred and most common way for foreigners.
It is possible to obtain Turkish citizenship through real estate investment as long as the conditions stipulated in the Turkish regulations are met.
Obtaining Turkish citizenship through real estate investment requires that the property have a value of at least 250 thousand dollars or its equivalent in Turkish lira. Before the 2018 reform, this amount was $ 500,000. Lowering the financial threshold allowed attracting more foreign investors interested in Turkish citizenship, especially since the Turkish currency has lost much of its value in recent years.
The investment can relate to one or several properties, the total value of which must be the equivalent of at least $ 250,000.
In the case of a foreclosure, its value must be reduced at the selling price to determine the value of the property. The amount remaining after the decrease in the mortgage amount must be at least $ 250,000.
The property that will be considered for granting Turkish citizenship must be registered in the name of the Turkish citizenship candidate.
The property in question must also remain the property of the Turkish citizenship candidate for at least 3 years.
An investor can also request citizenship with a promise to sell. In this case, the selling price must be paid in advance. Besides, the contract in question must be signed in front of a notary and it must be registered in the Land Registry. The title deed must also state the impossibility of assignment or assignment of ownership for a period of three years.
To obtain Turkish citizenship by investment, five stages must be followed:
l Obtaining a real estate appraisal report.
l Obtain a certificate of conformity.
l Residence permit application,
l Address registration,
l Turkish citizenship application.
According to the Circular 2009/1 published by the General Directorate of Cadastre and Cadastre associated with the Ministry of Environment and City Planning and which came into effect on March 4, 2019, the property appraisal report is mandatory when `` the foreigner participates in the sale of real estate, whether he is a seller or buyer.
This report can only be prepared by evaluation institutions authorized by the Banking Supervision and Regulatory Agency.
Thus, the institution responsible for preparing the official appraisal report will change the value of the property, whose total value should not be less than $ 250,000. Also, it should be noted that the amount indicated in the title deed cannot be less than the amount mentioned in this report.
Finally, the evaluation report should not be dated more than three months before the date on which the application for obtaining citizenship was submitted to the relevant authority.
Certificate of Conformity:
The candidate for Turkish citizenship, after obtaining the evaluation report indicating a value of at least 250 thousand dollars for the property in question, must obtain approval from the Foreigners Services Department of the General Directorate of Land Registry and Cadastre.
Register his address:
Once the residence permit is obtained, the person concerned must register his home address with the relevant civil status authority.
And the last step is to apply for Turkish citizenship:
Once a residence permit is obtained and a residence address is registered in Turkey, the citizenship application can be submitted to the province.
At the end you get the Turkish citizenship by investment