Obtaining Turkish Citizenship Through Real Estate investment 2023
What do you know about obtaining Turkish citizenship through real estate investment? What conditions must be met by the property to be suitable for applying for it? Is investing in real estate one of the best ways to apply for this citizenship?
In this article, Tammam Lama Real Estate we will provide you with some information about that citizenship. We hope you have a good reading.
Conditions for obtaining citizenship through investment:
The minimum investment amount in real estate to be eligible for Turkish citizenship has been reduced from 1 million to 250,000$ as of January 17, 2018.
The government has made another important change in the conditions for granting Turkish citizenship through real estate investment and the new regulation, which came into effect in June 12, 2022, stipulates that foreigners who have invested at least 400,000$ in Turkish real estate will be eligible for Turkish citizenship and the regulation also states that real estate title deeds must be transferred to the name of the applicant or his wife before applying for citizenship.
Additionally, the property must be maintained for at least three years.
The importance of applying for citizenship by investment:
The importance of applying for citizenship in the various ways provided by Turkish law cannot be denied, but apply for it by investing in real estate has additional privileges because you will have achieved more than one goal and purpose at the same time, that is, you have obtained citizenship and started your profitable investment and put your money in a safe portfolio that will increase the money inside. You will also be staying in a sophisticated place that provides you with luxury.
Advantages of obtaining Turkish citizenship:
Turkey is a country located in both Europe and Asia. As a result, it is a culturally diverse and wonderful place to live. Turkish citizenship comes with a number of advantages, including the following:
-Turkish citizens have the right to live and work in any of the 28 European Union countries.
-Turkish citizens can apply for long-term residence permits in several other countries, including the United States, Canada and Australia.
-Turkish citizens enjoy free education at all levels in Turkey.
-Turkish citizens are eligible for free healthcare in Turkey.
Documents required to obtain citizenship
If you wish to obtain this citizenship, you must prepare many documents and papers, including:
-A certified copy of your birth certificate.
-A certified copy of your marriage certificate (if any).
-Notarized copy of your divorce certificate (if applicable).
-A medical certificate indicating that you are free from any infectious diseases.
Four passport-style photos
-Real estate appraisal and earthquake insurance document.
-The tax number; it can be easily extracted from any tax department.
The most important methods of applying for Turkish citizenship:
As we mentioned above, obtaining this citizenship is not only limited to real estate investment, as it can be applied for through a number of other methods, each of which has many conditions that must be met by the applicant, the most important of which are:
1-By buying bonds or shares:
Turkish citizenship by buying shares or bonds is a process that allows foreign investors to obtain Turkish citizenship in a quick and simple way. All you have to do is buy Turkish government bonds or shares worth at least 500 thousand dollars and you can keep these investments for three years.
2 - Via bank deposit:
The Turkish government has announced a new plan under which foreigners can obtain Turkish citizenship by means of a bank deposit of 500,000$. The deposit must be made in a Turkish bank and must be maintained for at least three years.
After this period, funds can be withdrawn and citizenship granted. This plan also aims to attract wealthy investors to Turkey and is seen as a way to boost the country's economy.
3 - Through marriage:
Turkey offers citizenship through marriage to foreigners who marry a Turkish citizen. The applicant and his wife must have been married for at least 3 years, and the applicant must have lived in Turkey for at least two years. The applicant must pass the Turkish language test and have no criminal record.
4 - Exceptional citizenship:
Foreign nationals who have made “outstanding contributions” in their field can apply for Turkish citizenship; and to be eligible, applicants must have held a senior position in their field for at least three years, and must have made “significant contributions” in science or technology.
The importance of real estate investment in Turkey:
Turkey has been the number one real estate investment destination in recent years and it is not hard to see why as the country offers a wide range of investment opportunities, from holiday homes and buy-to-let properties to commercial properties and land development projects.
With its strategic location at the crossroads of Europe, Asia and the Middle East, Turkey is an ideal base for companies looking to expand their operations into new markets.
Real estate investment in Turkey has witnessed strong growth in recent years due to a number of factors including:
-The country’s strong economic growth – the Turkish economy has been one of the fastest growing in the world over the past decade, averaging about 7% GDP growth annually between 2002 and 2011 and after that, it continued to make rapid leaps until it reached its high level in the current year 2022 AD.
-Continuous Infrastructure Development - There are a number of large-scale infrastructure projects currently underway in Turkey, including the construction of new airports, highways and hospitals. This makes it easier for people to travel around the country and do business in it, which increases the demand for real estate.
The growing demand for Turkish tourism - Inbound tourism to Turkey has grown rapidly.
We are ready to help you obtain Turkish citizenship and follow the various procedures and laws until you receive it without having to waste a lot of time if you lack of knowledge and familiarity with the Turkish constitution.
