Are you interested in obtaining Turkish citizenship through real estate investment? If so, it’s important to be aware of recent changes to Turkish Citizenship Investment Program. Previously, foreign individuals who purchased real estate worth at least 400,000 USD or its equivalent in Turkish Lira could apply for Turkish citizenship by adding a clause to the title deed stating that the property would not be sold for three years. However, recent changes to this regulation have made it more difficult for individuals to obtain Turkish citizenship through real estate investments. It is no longer possible to apply for citizenship through acquiring real estate in shares, and it is only possible to apply for citizenship for one person, regardless of the property’s value. It is also possible to include the sale of multiple properties in a single contract, but it is not possible to use multiple sale promise contracts for a single application. In this article, we will provide a comprehensive guide to obtaining Turkish citizenship through real estate investment, including an overview of these changes and other requirements that must be met
This guide is intended to provide information on how foreign individuals can acquire real estate in Turkey and obtain Turkish citizenship through such investments. According to the relevant laws and regulations, foreign individuals who purchase real estate worth at least 400,000 USD or its equivalent in Turkish Lira can apply for Turkish citizenship by adding a clause to the title deed stating that the property will not be sold for three years. Changes to Turkish Citizenship Investment Program have recently been made to the regulation on obtaining citizenship through real estate investments. These changes state that it is no longer possible to apply for citizenship through acquiring real estate in shares. It is only possible to apply for citizenship for one person, regardless of the property’s value. It is also possible to include the sale of multiple properties in a single contract, but it is not possible to use multiple sale promise contracts for a single application. If a property purchased after implementing these changes does not meet the required amount for obtaining citizenship, it cannot be completed through a sale promise contract.
For example:
Before the changes:
Investor 1 and Investor 2, both foreign citizens, own shares of more than 400,000 USD in one property worth 800,000 USD in Turkey. They could apply for Turkish citizenship for both of them.
After the changes:
Application with shared ownership is not possible anymore. It is simply not possible to apply for Turkish Citizenship with shared applications.
In this case, if both investors are investing for Turkish citizenship, they should make separate and individual investments for more than 400,000 USD.
Changes for multiple purchases for one Citizenship Application:
Another change has been made to the number of properties. There is no limit on the number of properties that can be acquired through the sale as long as the required amount exceeds 400,000 USD. However, the required amount must be provided in a single application notary contract based on the promise of sale. It is possible to include the sale of multiple properties in a single contract, but it is not possible to use multiple notary sales contracts for a single application.
For example:
Before the changes:
Investor 1, a foreign citizen, purchases two properties, each of them 210,000 USD, for example, in Turkey for a total of 420,000 USD, using a notary sales agreement. They could apply for Turkish citizenship through this investment.
After the changes:
Investor 2, a foreign citizen, can no longer apply for Turkish citizenship by purchasing multiple properties with more than one notary contract. Instead, it is required to make a single sales contract for a single property of no less than 400,000 USD to be able to apply for Turkish Citizenship.
If the investors are purchasing title deed-ready properties, there is no limitation; it is possible to apply with multiple properties as long as all deeds are received.
It is important to note that these changes to the regulation on obtaining Turkish citizenship through real estate investments may vary depending on the specific laws and regulations in effect at the time of the investment. It is recommended to seek legal advice from a qualified attorney in Turkey to ensure a thorough understanding of the current requirements and processes for obtaining Turkish citizenship through real estate investments.
Contact our local experts and legal team if you have questions about Turkish Real Estate Investment program and its requirements.
We are working beside you, so our investors can find their dream property listings without paying any extra cost or commission.
Connect With Us: Facebook – Instagram – YouTube – Twitter – Medium
Check Out: Properties For Sale, Properties For Sale Kadikoy, Properties For Sale Kagithane, Properties For Sale Sisli
“OpenAI (n.d.). AI language model. Retrieved from https://openai.com.”