Foreign investors can now get Turkish Citizenship by real estate investment or by buying a property. In this blog, we will answer some of your questions such as, can foreign investors get Turkish citizenship? If yes, what are the Turkish citizenship requirements for foreign investors?
Turkey has recently witnessed great facilities for Turkish citizenship requirements for foreign investors in exchange for buying a property and for other methods as well.
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How to Get Turkish Citizenship by Real Estate Investment for Foreign Investors?
Turkey allows Foreign investors to get Turkish citizenship by investment in several ways, whether in a bank or real estate.
The amount of money that must be deposited in a Turkish bank to get Turkish citizenship by investment had reduced from two million dollars to 500 thousand dollars.
And other option for foreign investors to get Turkish citizenship by buying a property is with an amount of 400 thousand dollars.
As a result of the amendments for the decision to get Turkish citizenship by buying a property, many foreign investors get Turkish citizenship by real estate investment.
Statics showed that between 2017 and 2021, 18000 foreign investors have got Turkish citizenship by buying a property worth $250,000 in 48 Turkish cities.
But in June 2022, the minimum amount to get Turkish citizenship by real investment increased from $250,000 to $400,000.
Turkish passport gives a wide range of advantages for its holders, they can enjoy visa-free or visa-on-arrival entry to most of the countries, including Japan, Singapore, South Korea and Thailand.
Turkey and the European Union have signed the 1963 “Ankara Agreement” treaty, which allows Turkish citizens and their families to live in the UK for any purpose.
Also, there is an agreement with Greece that allows Turkish citizens to visit the country for short holidays, without the need to get a Schengen visa.
All these advantages have increased the number of owning a property in Turkey for foreign investors to get Turkish citizenship by buying a property.
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Buying and Owning a Property in Turkey for Foreign Investors
Foreign investors can buy and own a property in Turkey for residence reasons or to get Turkish citizenship by Real estate investment.
They have the right to buy 30 hectares in Real estate market in all Turkey, except in the forbidden areas.
Foreign investors bought 45,000 of the properties in Turkey in 2019, and the number is increasing rabidly.
Most of the foreign investors prefer Istanbul for Real estate investment, as it gains the focus of attention for the whole world.
Istanbul is considered the top choice in the Real estate investment for foreign investors, Antalya, Ankara, and Bursa are other options.
In general, foreign investors can benefit from the property by renting it and get monthly rent profit.
Buying and owning a property in Turkey for foreign investors is one of the best investments, and the profit can come after buying a property in a strategic location and with all the required facilities.
In addition to that, foreign investors get Turkish citizenship by real estate investment.
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Can Foreign Investors Buy a Property in Turkey?
Owning a property in Turkey for foreign investors is now easily by real estate investment, but they should follow the Turkish citizenship requirements for foreign investors.
If a foreign investor wants to buy a land in Turkey, he must inform the Ministry of Environment and Urbanization within two years about the type of building to be built on that land.
An initial application must also be submitted also to the Turkish Land Registry Directorate.
And a serial number is required for the initial application, for this purpose, you can call 181 or apply at https://randevu.tkgm.gov.tr/ after this application, a date is set for transfer transactions between seller and buyer.
The following documents must be prepared on this date in order to get Turkish citizenship by buying a property:
- Property title deed.
- The passport of the foreign investor who will buy the property and a copy of the passport (a Turkish translation of the passport may be required).
- The “property value statement” is submitted by the municipality
- Compulsory earthquake insurance policy for buildings such as home, office, etc.
- One photo of the seller (the original owner) and two photos of the buyer.
- Certified translator if the foreign investor does not speak Turkish.
- The original or a certified copy of the power of attorney must be submitted (Turkish translation of the power of attorney is required).
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Why Foreign Investors Choose Turkey for Real Estate Investment?
There are many factors in Turkey that encourage to get Turkish citizenship for foreign investors by real estate investment, which in turn increases the number of foreign investors in the real estate sector in Turkey for the year 2021.
The most important of these factors is real estate diversity of prices in Turkey, which influences foreign investors to buy properties in Turkey.
Also, the great return that came from real estate investment is considered a profitable income, due to the prices of rent in Turkey.
In addition to the acquisition of Turkish citizenship for foreign investors by buying a property.
Last but not least, Turkey properties have stunning views, from distinctive seascapes or landscapes to views of the huge and strategic projects in the country.
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Can Foreigners Get Turkish Citizenship by Real Estate Investment?
New amendments were made on implementation of Turkish citizenship by real estate investment, stating that:
- The same property or real estate share cannot apply to the acquisition of Turkish citizenship for foreign investors again after getting Turkish citizenship by real estate investment, according to this update, it was determined that only one applicant can apply for Turkish citizenship on a property.
- The investor cannot resell the purchased property to the same Turkish person except for some obligatory reasons.
- The buyer must submit a pledge before buying the property stating, “I pledge that I will not sell these properties that I have purchased to get Turkish citizenship by buying a property for a period of 3 years”.
- If it is determined that the information and documents that will be submitted for the application are incomplete, incorrect or have little fraud, then Article 31 of the Turkish Citizenship requirements for foreign investors No. 5901 states that “if there is a defect, lie or things like that, the competent authorities have to cancel the acquisition of the Turkish citizenship”, and the buyer must know that before buying the property.
- The Turkish law will prevent such ways to get Turkish citizenship by real estate investment including, transferring investors to real estate among themselves and through companies, as it is considered illegal transfer.
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Turkish Citizenship Requirements for Foreign Investors
The following documents must be submitted to get Turkish citizenship for foreign investors:
- Fill out the application for acquisition of Turkish citizenship for foreign investors without errors and put your signature
- A document proving the identity of the owner, a passport or an identity document issued by another country
- Personal photos
- Family statement
- Real estate documents for Turkish citizenship requirements for foreign investors
- The title deed of the purchased property
- Bank receipts and bank account statements, under which the property was paid and transferred from the seller’s account to the buyer’s account
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Get Turkish Citizenship by Buying a Property
Getting Turkish citizenship for foreign investors can be achieved by buying a property in one of these projects:
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YediMavi Project
The project is considered one of the most important residential properties in Istanbul, due to its important geographical location.
It consists of 7 towers; 6 of them are residential and one is a hotel tower, and each tower consists of 17 floors with apartments for sale in different styles.
It is also equipped with many features such as smart home systems, personal services, indoor car parking, indoor and outdoor swimming pools, sports and swimming area.
This project allows the acquisition of Turkish citizenship for foreign investors after buying a property.
For more details about how to get Turkish citizenship for foreign investors by buying a property at YediMavi Project, click here.
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Baharyaka Project
The project consists of 27 buildings spread over 5 residential blocks on a land of 20,800 square meters, and 593 housing units with different apartment styles ranging from 1+2 to 1+5.
It is characterized by its breathtaking views of the Golden Horn and the interior views of the project area.
Baharyaka gives foreign investors the opportunity to get Turkish citizenship by buying a property in the project.
For more details about how to get Turkish citizenship for foreign investors by buying a property at Baharyaka Project, click here.
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Bomonti Residence Project
The project has an amazing architectural and interior design and is considered as an investment opportunity for its strategic location and the privileges available in it.
It is located in Sisli area in Istanbul, which is one of the fast-growing areas that attracts investors due to its nearness to the city’s commercial center such as Taksim and Istiklal street.
The acquisition of Turkish citizenship for foreign investors will be easy after buying a property at Bomonti Residence project.
For more details about how to get Turkish citizenship for foreign investors by buying a property at Bomonti Residence Project, click here.
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Frequently Asked Questions About Getting Turkish Citizenship by Buying a Property
How to get Turkish citizenship by real estate investment?
You can get Turkish citizenship by investing in a real estate worth at least $400,000.
How to get Turkish citizenship by investment?
To get Turkish citizenship, the applicant must meet one of the following investment conditions:
· Purchase a property worth at least $400,000.
· Deposit at least $500,000 in a Turkish bank and holding the amount for 3 years.
· Make a fixed capital investment of $500,000.How long does it take to get Turkish citizenship by investment?
After submitting the application and all the required documents, you will get the Turkish citizenship by investment in less than three months.
Can a foreigner invest in Turkey?
Yes, foreigners are allowed to invest in Turkey, whether in real estate or any other type of investment. The government also offers them many facilities to facilitate their movement, such as the residence permit and Turkish citizenship.
Does Turkey give citizenship to foreigners?
Yes, Turkey allows foreigners to get citizenship by fulfilling one of the following conditions.
· Purchase a property worth at least $400,000.
· Deposit at least $500,000 in a Turkish bank and holding the amount for 3 years.
· Make a fixed capital investment of $500,000.
· Marry a Turkish citizen.Can foreigner buy a house in Turkey?
Yes, foreigners can buy houses or lands in Turkey.
What are the requirements for obtaining Turkish citizenship by real estate investment?
To obtain Turkish citizenship by real estate investment, you should meet some requirements, including buying a property worth at least $400,000, committing to hold its ownership for 3 years, a Tapu and appraisal report should also be included. As for the applicant, he must be older than 18 years old, and to be from the allowed countries that can get Turkish citizenship.
Is Turkish citizenship worth it?
Yes, Turkish citizenship has many advantages including:
1. Permanent residency permit
2. Spouse and children under 18 are included
3. Dual Citizenship allowed
4. Free education
5. Right to vote in elections
6. Visa free travel to more than 100 countries
7. Easy entrance to 26 Schengen countriesHow good is Turkish citizenship?
Turkish citizenship offers many benefits for its holders, including the free education, dual citizenship, right to vote, and visa free to more than 100 countries around the world.
Does Turkey allow dual citizenship?
Yes, Turkey allows dual citizenship.
How investors can be protected in Turkey?
The Turkish government has sought to protect foreign investors by enacting some laws that guarantee their rights and clarify their duties. For example, in the real estate investment sector, an appraisal report should be done before buying any property in Turkey, in order to prevent fraud in the process. Thus, you should deal with a trustworthy real estate company to help you invest safely.
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