Turkey decreased the minimum requirement for Turkish Citizenship through real estate investment down to USD 250,000 on September 19th, 2018. Previously the required amount for real estate purchase was 1 million USD. The reason for easing the conditions of citizenship is Turkey’s need of foreign capital. After decreasing the requirement Foreign housing investment jumped 82% in the first quarter of 2019.
Benefits of Turkish Passport includes Visa -free or visa-on-arrival access to 110 destinations.
- Andorra, Antigua and Barbuda, Argentina, Albania, Bahamas, Barbados, Belarus-White Russia, Belize, Bolivia, Bosna-Hersek, Botsvana, Brasil, Brunei, Dominika, Ecuador, El Salvador, Morocco, Fiji, Philippines, Palestine, Guatemala, South Korea, Georgia, Honduras, Hong Kong, Iran, Jamaica, Japan, Montenegro, Qatar, Kazakhistan, Kirghizstan, Colombia, Kosovo, Costa Rica, Lebanon, Macau, Macedonia, Maldives, Malesia, Mauritius, Mongolia Moldova, Nikaragua, Niue, Uzbekistan, Palau, Panama, Paraguay, Peru, Sao Tome and Principe, Saint Kitts (Saint Christoper) and Nevis Islands, Saint Lucia, Saint Vincent and Grenadine Islands, The Seychelles, Serbia, Singapore, Syria, Svaziland, Chile, Tayland, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Tuvalu, Ukraine, Uruguay, Jordan, Vanuatu, British Virgin Islands and Venezuela are Visa free for Turkish passport owners.
- Azerbaijan, Bahrain, East Timor, Dominican Republic, Indonesia, Armenia, The Republic of South Africa, Haiti, Iraq, Kampuchea, Comoros, Madagascar, Samoa, Tanzania, Taiwan, Togo, Tonga, Oman, Zambia and Sri Lanka offer visa on arrival.
- Ivory Coast, Kenya, Mexico, Rwanda, Senegal, Tajikistan, Sri Lanka and Zimbabwean offer e-visa.
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Turkish citizenship application process
- Purchase of USD 250.000 (or more) real estate in Turkey
- Application for residence permit
- Application for citizenship
1. Purchase of USD 250.000 real estate
Purchase of a real estate worth USD 250.000 or more after September 19th, 2018 entitles you to Turkish citizenship, on the conditions that;
- Official appraisal report showing the value of the real estate equal or more than USD 250.000 (The report should not be older than 3 months)
- The company issuing the appraisal report should on the approved list of Capital Markets Board of Turkey
- Real estate is bought from a Turkish citizen or company. Buying a real estate from a foreigner does not entitle you to citizenship rights.
- The real estate that you buy does not have a mortgage encumbrance. If it does, the invested amount is calculated after deducting the mortgage encumbrance and if this sum exceeds USD 250.000 then it is OK.
- The real estate deed includes “not to be sold for a period of 3 years” commentary
- The payment is done through bank transfer and the value of the payment is equal or more than USD 250.000 (calculated at Central Bank’s effective selling rate)
- Payment document and appraisal report should mention your name
- Payment date should be after September 19th, 2018. If you remitted the payment before that date get in touch with me to show you how to get Turkish citizenship.
Along with the above mentioned documents, usual documents requested in a real estate deed transfere will be submitted at the Directorate of Land Registry.
2. Application for residence permit
Second step is the residence permit application at the Internal Affairs Ministry. Required documents are as follows;
- Filled application
- Investment Conformity Document from Directorate of Land Registry.
- The original passport and photocopy of relevant pages
- 2 biometric recent pictures with white background
- Health insurance covering the residence period (original should be declared)
- Bank deposit statement (USD 500 deposited for each month requested)
- Fee receipt
The residence permit is normally issued in 7-10 days.
3. Turkish citizenship application
The following documents are presented for the application for Turkish citizenship;
- Conformity Document
- Residence Permit
The approval of process may take 6-9 months. During this period you can stay and travel in Turkey with your residence permit.
You can check the progress of your application online. Required fields are application number, birth date and reCaptcha click.
For free consultation Call or Send a Message to +90532164082
Turkish citizenship for previous property owners
- If you have bought your property after September 19th, 2018 and the value of your property exceeds USD 250.000 you have the right to apply for Turkish citizenship.
- If you have bought your property before September 19th, 2018 and the value of your property exceeds USD 1 million you have the right to apply.
- If you have bought your property before September 19th, 2018 but the value of your property does not exceed USD 1 million get in touch with me to show you how to get citizenship.
Turkish citizenship requirements through capital investment
- Buying a real estate worth USD 250.000 or more on condition to hold it for a minimum of 3 years.
- You can also get Turkish citizenship through USD 500,000 deposit to a Turkish Bank on condition that the amount is deposited for a minimum of 3 years and also not to be withdrawn during this period.
- Or, you can apply through buying USD 500,000 government bonds and on condition of holding them for 3 years.
- Or, you can apply by establishing a Turkish company with USD 500,000 capital.
- Or, you can apply by employing 50 Turkish citizens in Turkey.
Turkish citizenship for family members
- The children under age of 18 earn Turkish citizenship together with their parent’s application.
- The spouse earns the right for residence permit, but will earn the right for citizenship after 3 years.
Types of Real Estate covered in Turkish Citizenship through USD 250,000 Investment Incentive
- All kinds of real estate are included in the incentive. You can buy a home, business property, building or land. You can visit Remax Turkey website for real estate for sale alternatives
- You don’t have to buy 1 property valued USD 250,000 or more.. You can buy different properties and if their total value is more than USD 250,000 you earn the right for citizenship.
- The maximum area a foreigner is allowed to buy in Turkey is 30,000 square meters.
Real Estate for Sale suitable for Turkish Citizenship by Investment
- 1+1 residence flat for sale in Maltepe, Istanbul close to subway and shopping malls.
- Luxurious 1+0 flat for sale in Sisli, Istanbul
- Luxurious 1+1 flat for sale in Sisli, Istanbul
- Luxurious 2+1 flat for sale in Sisli, Istanbul
- 4+1 Flat for sale in Basaksehir, Istanbul
- 300 m2 Office Space for sale in Nisantasi, Sisli, Istanbul
15Links to relevant Laws (in Turkish) :
- Regulation #106 dated September 19th, 2018 about about the application of foreigners Acquisitions of Real Estate
- Turkish Citizenship Law #5901
- Real Estate Deed Law #6302 dated May 18th, 2012
- Regulation #2012/13 about Foreign Capital Companies Acquisitions of Real Estate
- Foreigners and International Protection Law #6458
Visa free countries Source: Pegasus Airlines