Turkish Citizenship by Investment
Burcu Yılmaz Sayılgan will help you from A-Z, in all of the stages for your Turkish Citizenship by Investment. She can advise on the suitable property for the application, get your tax numbers, open your bank accounts (for property purchase or to deposit money at the bank) , make the purchase on your behalf, put the annotation in relation to three year restriction, get your residency and make the citizenship application and get your passport and identity cards. So, you will not have to worry at all during your citizenship application!
Before applying for Turkish citizenship make sure that your country of origin accepts dual nationality. Otherwise you may lose your own citizenship.
Ways to obtain Turkish citizenship are:
Turkish citizenship for being the spouse of a Turkish citizen
Turkish citizenship for being a long term resident in Turkey
Turkish citizenship as an investor
The most popular ways to obtain Turkish citizenship by investment are:
- Proven by the Ministry of Environment and Urbanization to have acquired a real estate worth a minimum of USD 400,000 or equivalent foreign currency with a title deed restriction on its resale for at least three years.
- Proven by the Banking Regulation and Supervision Agency to have deposited at least USD 500,000 or equivalent foreign currency in banks operating in Turkey with the condition of not to withdraw for at least three years.
For both of the ways above in relation to Turkish citizenship by investment the investment (the purchase price for the property or the money to be deposited at the bank) must be converted to Turkish Lira with the exchange rate of the Turkish Central Bank and a certificate must be obtained in relation to the conversion.
After the real estate is purchased or the money is deposited at the bank, a conformity letter is obtained through Turkish Government to be able to apply for citizenship. After getting the conformity letter, the applicant must have a special type of residency to get the citizenship. Then it is the final step of making the application for citizenship. The spouse and children that are under 18 of the applicant may also apply for citizenship.
To apply for the Turkish citizenship the following papers are needed:
- Application forms
- Translated and notarized passports
- Spouse’s death certificate if the applicant is a widow
- Divorce document if the applicant is divorced
- Marriage document if the applicant is married
- Birth certificate
- Family registration document showing the bond between the family members
- 2 biometric photos
MORE INFO ON TURKISH CITIZENSHIP THROUGH REAL ESTATE INVESTMENT
To obtain Turkish citizenship through real estate investment in Turkey, if the real estate is purchased after September 19 2018 the real estate shall be minimum USD 400.000.
Type of Immovable Property
Foreigners may purchase any kind of property (house, land, field). However, if subject property is purchased without a constructed building (such as a land or a field), the foreigners shall submit the project of the property that they will build to the relevant Ministry within two (2) years.
The Number of Immovable Properties
The foreigner who will apply for a citizenship may buy more than one property. If the applicant purchases more than one property, the sum of the value of the real estates shall be $ 400.000 or more. Also each estate shall have an annotation of no- sale for at least 3 years.
Value Assessment of the Purchased Real Estate(s)
The value of the real estate shall be determined by a valuation company that has a Capital Market Board License. The report’s date shall be at most 3 months prior to the sale date. Otherwise it is not deemed valid.
Making Payments Through a Bank
The payments must be made through the bank to the seller’s account with a reference stating the details of the property purchased.
Bank receipt’s date may be after the date of selling.
Mortgage and Attachment
A property with a charge or a mortgage may also be acquired to obtain citizenship. In this case, the price found after deducting the mortgage price/cost from the sale price shall be at least as much as the determined amount in the Regulation.
To Attach Annotation of No-Sale for at Least Three (3) Years on Immovable Property/Immovable Properties
In the registry of title deeds of the immovable property/immovable properties subject to the sales and/or preliminary sale contract, it shall be stated that “Pursuant to Article 20 of the Regulation, there is a commitment that it will not be sold for three (3) years from the date of annotation.“
Obtaining Certificate of Conformity
Applications are evaluated first by the Ministry of Environment and Urban Planning General Directorate of Land Registry and Cadastral Directorate of Foreign Affairs Department and a certificate of conformity is issued to apply for citizenship.