How to get citizenship in Turkey: purchase of real estate
To become a Turkish citizen, you don't have to live and work here for a long time. It is enough to buy real estate worth $400K. It is not enough just to sign papers at the notary. The procedure, which helps you to obtain citizenship in Turkey by buying real estate, has its own specifics and peculiarities, so we recommend that the deal should be done through the specialists of IT-OFFSHORE.
Peculiarities of investment in Turkish real estate
The program for obtaining Turkish citizenship for investment appeared after similar programs in Greece, Spain, Portugal gave excellent results. In 2017, the Turkish government also launched a program that provides citizenship for investment. However, it provided for the purchase of real estate for at least $1 million, so it did not attract investors.
In 2019, the government lowered the bar to $250,000, which stimulated a large influx of foreign capital into the country. The country began earning $250 million a month. Demand was so great that the bar was raised to $400,000 for investors wishing to become Turkish citizens.
What foreigners need to know before buying a house in Turkey
- Buy a house or apartment in Turkey must not be before approval is obtained from the Office of the Land Registry, which requires registration. The buyer must go there together with the seller;
- Preliminary real estate agreements, even if executed by a notary or concluded between individuals in writing, do not provide for the transfer of property. They are only a commitment that the transaction will take place;
- If the house, apartment is in a mortgage, have other restrictions that prevent the sale, do not rush to buy. First you need to get approval from the Office of the Land Registry, which employees will check the property;
- Non-residents are not required to have a residence permit to buy a house or apartment. After the purchase, the foreigner in any case will receive a residence permit, even if not to apply for citizenship in Turkey 2022.
Features of the investment program
An individual must buy real estate worth $400K. It can be a villa, an apartment, land. You can not confine yourself to a single purchase, you can buy several properties with a total value of $400K, but the objects must be located in 1 area. Property must be registered on the day of purchase.
After the purchase the investor should apply to the state authorities for the right of residence or citizenship. To do this, it is necessary to provide a certificate of ownership, which will also indicate the purpose of purchase - to obtain citizenship.
When applying for citizenship, the investor should indicate that s/he purchased the house for the purpose of citizenship. S/he must declare that s/he will not sell the house/apartment, etc. within 3 years after the purchase.
Requirements for obtaining Turkish citizenship for investment
- The buyer must be at least 18 years old;
- In the history of the buyer must not be an illegal stay in Turkey;
- All taxes and fees must be paid.
Documents for participation in the investment program
- Birth certificates of all applicants;
- Passports of each applicant;
- Certificate of residence;
- Certificate of marriage, death, divorce from spouse (if necessary);
- Certificate of absence of criminal record of all applicants;
- The presence of medical insurance, which is valid in Turkey;
- Confirmation of the presence of $400K in a Turkish bank account;
- Turkish Tax Identification Number (required).
Period of validity of passport
10 years.
How to quickly buy a property in Turkey
If you want to do business in Turkey, to buy real estate, contact IT-OFFSHORE experts.