Has the implementation of increasing the value of the property for Turkish citizenship to $400,000 started?

Has the implementation of increasing the value of the property for Turkish citizenship to $400,000 started?

After the value of the property eligible for Turkish citizenship increased from $250,000 to $400,000, the attention of foreign investors began to await the moment of announcing the start of implementing the decision by announcing it in the Official Gazette.

Waiting and expectation

As it came in urgent news reported by several Turkish media and published by Anadolu Agency on its official website, which says:

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.

It was agreed at the meeting of the so-called “presidential cabin” - on Wednesday, 13/04/2022 - to raise the value of the property eligible for Turkish citizenship from $250,000 to $400,000.

Accordingly, amendments will be made to item b of the second paragraph of Article 20 of the Executive Regulations related to the implementation of the Turkish Nationality Law.

When will the decision be implemented?

Imtilak Real Estate company informs its customers that until the moment of publishing this news, the aforementioned amendments have not been approved, but it is expected that during the next few days this decision will be published in the Official Gazette so that the conditions for obtaining Turkish citizenship in exchange for a real estate investment are owning a property whose value is not less than $400,000 or equivalent in currencies, provided that the property is not sold for 3 years.

In the context of this decision, Imtilak Real Estate company advises those who have bought real estate with the aim of obtaining Turkish citizenship to hurry up and completer the legal procedures to apply for Turkish citizenship in exchange for a property, and for more information about the required procedures, you can contact us through our official accounts.

Edited by Imtilak Real Estate ©

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