Increasing the value of the property required for Turkish citizenship from 250 thousand to 400 thousand dollars

A fateful decision affects foreign investors in the real estate sector with the aim of acquiring Turkish citizenship, after agreeing to increase its value at the meeting of the "presidential cabinet" today, Wednesday.

News about raising the value of the property candidate for Turkish citizenship to $400,000

An urgent news was reported by several Turkish media and published by Anadolu Agency on its official website, according to which:

Raising the value of the property that the investor must purchase to apply for Turkish citizenship on an exceptional basis in return for a real estate investment was discussed.

During the meeting of the “Presidential Cabinet”, it was agreed to raise the value of the real estate candidate for Turkish citizenship from $250,000 to $400,000.

Accordingly, it is expected that amendments will be made to item b of the second paragraph of Article 20 in the executive regulations related to the application of the Turkish Nationality Law.

It is expected that this amendment will be published in the Official Gazette within the next few days, so that the conditions for obtaining Turkish citizenship in return for a real estate investment are: owning a property whose value is not less than 400 thousand dollars or its equivalent in currencies, and on the condition that the property is not sold for a period of 3 years.

Edited by Imtilak Real Estate ©

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