Foreign Investors Get Turkish Citizenship by Real Estate

Foreign Investors Get Turkish Citizenship by Real Estate

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.

The amount of money that must be deposited in the 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 250 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 in 48 Turkish cities.

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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Read more: How to buy Real estate in Turkey

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.

Read more: Top Sisli Istanbul Apartments for Sale and Fun Things to Do

Can foreign investors buy a property in Turkey?

Can foreign investors buy a property in Turkey
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).

Read more: The best guide for Investment in Turkey 2022

Read more: Know More About Real estate Investing In Basaksehir Istanbul

Why foreign investors choose Turkey for real estate investment?

Why foreign investors choose Turkey for real estate investment
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?

Can Foreigners Get Turkish Citizenship by Real Estate Investment
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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Read more: How to Buy a Property in Turkey and Get Citizenship?

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:

Read more: Best Properties in Beylikduzu Istanbul for sale

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.

Read more: Best Apartments in Istanbul with Sea Views for Sale

Bahar Yaka 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.

Bahar Yaka 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 Bahar Yaka Project, click here.

Read more: Establish and Open a Company in Turkey for Foreigners

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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Do you know what the benefits of buying a property in Istanbul? Contact me to find out why!

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