Recently, Turkish citizenship has become a popular conversation among the public of investors, businessmen and other foreigners, especially after the many amendments issued by the Turkish government in late 2018.
In this article, we will talk about how to obtain Turkish citizenship by investment and we will highlight the reasons why many choose real estate investment over other methods.
All you need to know about this matter can be found in these lines.
You can obtain this citizenship through financial investment of five hundred thousand US dollars, bank deposit or purchase of shares and documents, but the most common method is real estate investment.
The value of the property must be two hundred and fifty thousand US dollars or more and a pledge not to sell it before the lapse of three years, but there are those who ask about the possibility of applying for it if he owns more than one property, is this possible?
Of course when the compound price is $ 250 thousand or more.
Other conditions that must be met by the appropriate property to obtain Turkish citizenship:
You have to make sure that you buy it from a Turkish citizen or a Turkish construction company, but if you buy it from a foreigner, it will not meet the conditions for obtaining it, and you must also pay its value through a bank in Turkey.
You should also check that the property was not previously used in order to obtain citizenship.
As for the investor, it will not be in his interest to freeze his money for three years in real estate in order to obtain Turkish citizenship, is this true? It is not absolutely true, as he can invest the property during those years by renting it out to get a distinct monthly return, and his profits double in the tourist seasons due to the influx of millions of tourists to Turkey annually.
After the specified period for keeping the property can be sold and a large profit is made, real estate prices in Turkey or in other countries of the world do not remain for long and are constantly increasing.
Through the following paragraph, we will talk about the papers that must be available in order to obtain Turkish citizenship through investment.
- Title deeds of real estate owned by a foreigner.
- Real estate appraisal document.
- Receipts for paying the value of the property through a bank in Turkey.
- Receipts confirming the seller's receipt of the property value through the bank.
- A copy of the buyer's passport.
- A non judicial document.
- Personal Photos.
*Important note: According to the recent amendment issued by Turkey regarding foreigners obtaining Turkish citizenship through investment, it decided that the price of the property must be sold to the Central Bank of Turkey in foreign currency through a bank operating in the banking sector.
Below we will talk about the stages you will go through to obtain Turkish citizenship.
The first stage is the evaluation of the property, where one of the specialized companies with a license from the Turkish government will inspect the property and estimate its value, and it will not take more than three days.
Secondly, you must extract the title deed of the property and this will be in the Land Registry Directorate, but at first you must get your tax number and later issue the document within three or four days.
All papers you have extracted must be translated into Turkish and then certified by the notary, and the rest of the procedures are routine by the concerned authorities in the Turkish government.
After the Turkish government abolished the reciprocity law in 2012, all foreigners can own real estate except for only five nationalities, which are prohibited by old agreements and political circumstances (Syria - Armenia - Cuba - North Korea - Greek Cyprus).
What was noticed that there is a large Arab tendency to obtain Turkish citizenship, so what are the reasons that motivate them to do so?
- Most of the Arab countries are experiencing many turmoil, economic crises, insecurity and unstable political conditions.
- The cost of living in Turkey is as low as the costs you would need in Arab countries.
- Turkey has provided a lot of facilities to foreigners in contrast to European countries.
- The common Islamic religion - the similarity of some customs and traditions - the ease of integration with Turkish society.
- There are many unique job opportunities in Turkey.
- Real estate prices in Turkey are low and appropriate compared to other countries.
It offers its holder many advantages, the most important of which is the Turkish passport, which is one of the most powerful passports in the world. According to the website that compares the strength of passports in the world, the Turkish passport ranked 37th.
It allows you to enter more than 61 countries without a visa requirement, and there are also more than 44 countries that grant Turkish citizens a transit visa upon arrival.
After retirement, you will have the best insurance systems in the world, not to mention that you have all the rights that a Turkish citizen enjoys, such as participating in elections and voting.
Information that is important to you about obtaining Turkish citizenship through investment we have provided to you in this article, and do not forget that one of the services we provide to you is the provision of real estate suitable for the conditions for obtaining it, and we also accompany you in all stages of ownership and provide the full consultations you need.