TURKISH CITIZENSHIP BY REAL ESTATE INVESTMENT
How to Acquire Turkish Citizenship by Real Estate Investment?
As per the regulations published in the Turkish Official Gazette on September 18, 2018; foreigners who buy real estate worth a minimum of 250.000 USD or equivalent in any other foreign currency, will be able to apply for Turkish citizenship.
Unlike other nationality programs offered by different countries, the acquisition of Turkish Citizenship is attractive for foreign investors as the application can be made immediately after the purchase of the real estate. The procedures are easy and fast.
With our professional guidance once you decide to buy a property, the buying procedures will be completed within one day. The next day, you can give Power of Attorney to an independent lawyer which we will introduce you to. The whole process for the application of Turkish Citizenship will be followed up on your behalf and your passport will be ready within 60 days.
What are the Steps to Start Turkish Citizenship Application by Real Estate Investment?
1- Finding the Right Property for You
You will first meet one of our sales consultants either in your hotel or in our office as you prefer. Our experienced sales consultant will be ready to answer all your questions related to the real estate sector in Turkey. You will visit the real estate projects and properties you would like to see together and you will be given a presentation in each one of them. Once you decide to proceed with any of the offers, usually a reservation fee is paid to reserve the property under your name which you can pay also by credit card.
We know that your priority is the ROI for your real estate purchase which is also our priority. There will be hundreds of eligible properties for the Turkish citizenship application. We will make sure this property will be the best option which will also match your requirements and expectations for your future benefits.
2- Getting a Turkish Tax Number and Opening a Turkish Bank Account
Next, we will help you to get a tax number which you will need in the future for several needs. The tax number can be taken from any tax office in half an hour by only providing your passport and filling the required form with your presence.
For the payment of your property purchase, you have the option to pay your down payment from your country when you go back or from a Turkish bank account which you can open very easily. (read the 4th step to see whether you will need to open a bank account or not)
In order to open a bank account, you will need the following; tax number (1), your original passport (2), your address statement which can be an electricity or gas bill from your country of origin (3). We will take you to a bank where you can open an account easiest depending on your nationality. Opening a bank account will take around 1 hour.
3- Meeting the Lawyer and Giving Power of Attorney
Same-day or the following, we can take you to meet one of the law firms we collaborate with. We are working with three law firms who are experienced in the Turkish citizenship process. They have already completed numerous applications for foreign real estate investors. They will be ready to answer all your questions related to the topic. They will also explain to you the whole procedure and steps until the receiving of your new Turkish passport.
After the meeting, we will go to a notary together for you to give Power of Attorney (POA) to the lawyer. With the POA, the lawyer will be able to follow up on all your application on your behalf. You can leave the country the next day.
4- Transferring the Required Down Payment for the Property Purchase
If you decide to buy a key-ready (completed) property, you will need to make cash payment for the purchase in most cases (whereas payment plans can be offered as well depending on the property). If you decide buying an off-plan (under construction) property, again the payment can be requested cash or with a payment plan.
The important thing here is, you will need to complete a minimum down payment of 250.000 USD in order the procedures to start for Turkish citizenship application.
Let’s consider you are buying the property off-plan and with a payment plan. The down payment should be minimum 250.000 USD. You will also need to sign a “Notary Sales Contract” with the developer in such a scenario where you will be promising not to sell your property for 3 years which is a condition for the Turkish citizenship application.
If you are buying the property cash, directly your title deed will be prepared after you complete your payment for the purchase. In this scenario, non-salable record for 3 years will be added to your title deed in the title deed office by the lawyer for you to be eligible for the Turkish citizenship application.
Regarding the payment of your real estate purchase, you have the option to transfer the required amount from your bank account back in your country or from the new Turkish bank account which you can open. If you choose to transfer the payment from your country, the sender for the bank account should match your full name exactly the same as your passport. If you choose to transfer the payment from the new Turkish bank account of your own, the sender will be you anyhow as requested from the Turkish government. You can transfer the amount full or partial to your Turkish bank account before this as you wish from any account and any sender.
In both cases, bank receipts for the transfers to the seller of the property will be required with wet signature confirmed by the bank for the citizenship application. In general, transferring from a Turkish bank account is easier as we can control things easier. However, with our right guidance, you can make the transfer from your country without any problems.
Can the Purchase of the Real Estate and Application for the Citizenship Be Made Online?
Yes. The whole process can be followed up online. You can buy your property and have your Turkish passport without visiting Turkey. Let’s see how.
Firstly, you can have a video conference call with one of our sales consultants. All your questions related to the real estate sector in Turkey can be answered and presentation for the properties can be made online. You can also have a video conference call with the lawyer as well to ask your questions related to the Turkish citizenship application process.
Once you decide to buy a property, you can make the reservation payment and your down payment with bank transfer from your country. You can give Power of Attorney (POA) for the sales process and citizenship application to be followed up on your behalf. You can even give POA for a tax number to be taken and a bank account to be opened for you in Turkey in case you wish to. To prepare the POA, you will need to visit the Turkish Embassy in your country. We will send you the POA draft by email. You will only ask the embassy to prepare you this POA and you will need to send it to our address by post.
How is the Process for Turkish Citizenship Application?
Following steps will be followed respectively on your behalf for the Turkish citizenship application after an agreement is reached for the real estate to be purchased which is worth at least 250.000 USD.
1- Application will be made to one of the organizations authorized for real estate valuation in order to get the “real estate valuation report”.
2- Land Registry Directorate is applied with the necessary documents.
3- Land Registry Directorate undertakes an examination and checks whether the receipt, valuation report and the declared values meet the criteria sought in the regulations or not. They all have to prove the value is over 250.000 USD.
4- If the necessary conditions are met, the parties concerned are informed by phone message about the land registry fee and circulating capital charge payable for the procedure.
5- Once the fees are paid, appointment date is given by phone message for the contract to be signed.
6- After the contracts are signed, a statement is entered into the registry of the real estate that the property will not be sold for three years.
7- Following, land registry directorate sends the documents to the General Directorate of Land Registry and Cadastre through the online system for the “certificate of eligibility” to be issued for the citizenship application.
8- Once the necessary checks are completed, the certificate of eligibility issued is sent by an official letter to the Provincial Directorate of Civil Registration and Citizenship Affairs and General Directorate of Migration Management. The parties concerned are informed by email.
9- After receiving the certificate of eligibility, the residence permit will be taken from the the Provincial Directorate of Migration Management. Following, the application will be made for the citizenship to the Provincial Directorate of Civil Registration and Citizenship Affairs.
What are the Conditions Required to Be Eligible for Turkish Citizenship by Real Estate Investment?
Applicants are required to purchase real estate in Turkey by investing at least 250.000 USD. This amount can be reached by purchasing single property or multiple properties.
The property cannot be sold for 3 years after the purchase. Non-salable record will be added on the title deed at the time of the buying.
The appraisal report taken for the property should state the property value is over 250.000 USD.
The value declared at the title deed office for the purchase should be over 250.000 USD after it is converted with that day’s official exchange rate announced by the Central Bank of Turkey.
The transferred amount to the seller should be over 250.000 USD. Receipt from the sender’s bank needs to be taken with the approved wet signature of the bank.
The property which is purchased should not be registered under any foreign real person after the date: 12.01.2017. A foreigner should buy the property from a Turkish person or company (if a foreigner is a partner in the company, it will not apply) in order to be eligible to apply for Turkish citizenship.
For the properties that will be purchased with a payment plan, the down payment which needs to be over 250.000 USD should be transferred for the procedures to start for the citizenship application. The notary sales contract will be signed after the payment with the seller.
For the properties that will be purchased by cash, the title deed should be transferred to be able to start the citizenship application.
What are the Required Documents for Turkish Citizenship Application?
To be provided by the applicant:
- Valid passport
- Birth certificate of each applicant (stamped by foreign ministry of relevant state and Turkish Embassy)
- Marriage certificate if the spouse will apply (stamped by foreign ministry of relevant state and Turkish Embassy)
- 4 passport-size photos of each member of your family if they will apply also (recent biometric photos 50×60 mm taken in the last 6 months with white background)
To be prepared by the lawyer:
- Filled application form
- Document regarding representation – Power of Attorney
- Title deed for the real estate sold
- Foreigner ID No given with the Residence Permit
- Appraisal (valuation) report for the real estate
- Bank-certified receipts evidencing money transfer
- Compulsory earthquake insurance policy
What are the Advantages of Having Turkish Passport?
– Chance for your spouse and your children to get the citizenship with you at the same time
– No need to declare any wealth
– No need to be a permanent resident in Turkey to keep the citizenship status
– Chance to have multiple passports along with your Turkish passport as Turkish government allows holding multiple citizenships
– Chance to visit 114 countries without visa
– Ease of obtaining E-2 Visa to get US Residency
– Ease of obtaining Schengen visa to Europe
– Ease of relocating to UK and EU with respect to Ankara Agreement and starting business
– Free medical service in Turkey’s Public Hospitals after being registered with the Social Security Institution (SGK)
– Free education in Public Educational Institutions in Turkey
– Ease of running business inside Turkey with a local name and ID
Which Countries Can You Visit with Turkish Passport without Visa?
With Turkish passport, you can visit 114 countries worldwide. In order to see the visa-free countries and visa status of all countries in the world for Turkish citizens, you can visit countries you can visit with Turkish passport page.
Contact Us for Free Consultancy
If you are interested in Turkish Citizenship through real estate investment in Turkey, contact us now filling the form below to get free consultancy. Our experienced team will contact you as soon as possible and we will try to answer all your questions related to the topic.
Frequently Asked Questions About Turkish Citizenship
The law came into effect by 19th of September 2018. Foreigners who buy after this date, can apply for the Turkish citizenship program.
Yes. If the application is rejected, the reason will be stated in the application result. The investor can reapply and get the citizenship after measuring up the criteria.
There is no obligation to apply with a lawyer. But still, even though we are very experienced about the subject, we advice our clients to make their application with the law firms we are working with in order to avoid any unexpected problems that can occur.
In this case, the investment should be minimum 500.000 USD to be eligible as the ownership for each buyer will be 250.000 USD.
Yes. Turkey allows dual citizenships and do not declare your new nationality to your country.
No. The property should not be registered under any foreign real person after the date: 12.01.2017. The application can be made only when a foreigner buys from a Turkish citizen or Turkish company.
Yes. It can be any residential or commercial property.
The application can be made when the payment made reaches to 250.000 USD. If the payment still continues, a notary contract can be signed with the seller and the citizenship application be made still.
No. Firstly, the buyer should apply for Turkish citizenship. Once it is successfully completed, the application can start for the spouse and the children below 18 years old.
No. The payment should be transferred from the exact same name as the real estate buyer.
The valuation report should be taken for all real estate purchases for foreign purchases in any case. The report is valid for 3 months. The report can be taken after the reservation of the property to be in safe side. The value should be over 250.000 USD to be eligible for the application.
Yes. The payment can be made from a Turkish bank account as well. The beneficiary name should match the buyer’s full name exactly as given in the original passport.
Non-salable record will be added to the title deed at the time of the real estate purchase. The property can be sold only after 3 years.