The Most Important Conditions to Get Turkish Citizenship
In this article, we list the conditions that must be met for obtaining Turkish citizenship, as well as a detailed explanation of some points and some of the things that the investor must know about this subject
The Most Important Conditions to Get Turkish Citizenship
What are the Turkish citizenship conditions?
This question is frequently asked by those who want to know how to obtain Turkish citizenship, especially with regard to real estate investment in Turkey, or bank deposit ...
In this article, we list the conditions that must be met for obtaining Turkish citizenship, as well as a detailed explanation of some points and some of the things that the investor must know about this subject.
Conditions for Turkish citizenship: Between yesterday and today
The Turkish government has reduced the minimum requirement for foreign investors to invest in the country in order to get Turkish citizenship, according to recent amendments to the laws of September 19, 2018.
Under these amendments, the value of the various investments required to obtain Turkish citizenship fell to a quarter or a sixth of its previous value. This has created new opportunities for investors to get Turkish citizenship through one of the types of investments available.
After reduction, investment values were determined as follows:
Turkey's real estate sector: The minimum investment required for citizenship has fallen from $ 1 million to $ 250,000.
Bank Deposit in Turkey: The minimum bank deposit in an account within a Turkish bank for Turkish citizenship has been reduced from US $ 3 million to US $ 500,000, provided that the amount is not withdrawn for 3 years.
Employment of Turkish citizens: The determined number of Turkish employees to be employed for Turkish citizenship has been reduced from at least 100 to 50.
Buying government bonds: the minimum limit for Turkish citizenship fell from $ 3 million to $ 500,000.
These reductions came in the benefit of foreign investors, providing an exceptional opportunity to collect the gains of citizenship and investment at the same time, and at a lower cost than it was.
For more information regarding Turkish citizenship decisions in return for owning a property, please refer to our article: Exclusive Translation of the Most Important Turkish Citizenship Laws.
The most important conditions for obtaining Turkish citizenship by buying a property?
First: Conditions to be met in the property:
To take advantage of Turkish citizenship by real estate investment, the property must meet some important conditions:
- The value of the property, real estate or apartments should be 250 thousand USD and much.
- Registering the property in the Department of land registry, whether the property is ready, or apartments and real estate with floor easement / under construction.
- Buying from a Turkish citizen or a Turkish construction company.
- Paying the property price through a regular bank transfer.
- A real estate valuation report is necessary when foreigners buy any property within Turkish territory.
Second: Conditions to be met by the buyer:
- Turkey's investment law has given the right to grant Turkish citizenship in return for owning a property in Turkey for all nationalities. However, it excluded certain specific nationalities such as North Korea, Syria, and others.
- The foreign property owner must be an adult.
- The owner, his wife, and children under the age of 18 get Turkish citizenship.
- The buyer is obliged not to sell the property for 3 years from the date of purchase in order to fulfill the conditions required to obtain Turkish citizenship.
What are the most important features of real estate investment in Turkey?
There are several reasons for the increasing demand for Turkish citizenship, and are summarized in the following points:
- Due to the current economic situation in Turkey and the devaluation of the Turkish lira, real estate prices have witnessed a significant decline, which has allowed foreign investors reasonable investment opportunities and high profitability. Moreover, the steady rise in real estate prices, especially in areas where there is a strong demand and a special urban renaissance, making this a profitable investment opportunity.
- A foreign investor is free to choose what he wants from real estate within a wide range of options, such as apartments and villas, agricultural land, commercial buildings, and others.
- Facilities for obtaining citizenship by real estate investment, as the sale contract is sufficient to apply for Turkish citizenship. Investors are able to purchase properties on the plan, or in projects under construction, allowing the investor to take advantage of significantly reduced prices.
- The investor and the rest of his family from the wife and children, with the exception of children over the age of 18 years can benefit from citizenship.
Imtilak Real Estate services for obtaining Turkish citizenship
With its experience in real estate in Turkey and its exceptional long career in investment and its laws, Imtilak Real Estate offers all services related to real estate and Turkish citizenship in return for owning a property in Turkey.
Our company has proven its long-term experience in this area, by facilitating the procedures for a large number of investors and their families to get Turkish citizenship.
Imtilak Real Estate offers the best residence and ownership options for real estate within the conditions required to obtain Turkish citizenship in apartments for sale in Istanbul and other Turkish cities, with the completion of formalities and procedures necessary for it. Imtilak accompany you in the journey of owning the property, in addition to a range of services that start from the moment you arrive at the airport, and continue until after the purchase of the property, through its distinctive after-sales services, which includes design, decoration, cladding, furnishing, property management ... in addition to the benefits of Turkish citizenship.
Edited by: Imtilak Real Estate ©
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