Frequently Asked Questions Regarding Turkish Citizenship through Real Estate Investment
Author: Servet Cetin
Practices: Real Estate
1- What are the required documents for citizenship application?
If the investor is married:
- Birth Certificates of the investor, spouse, and children under 18 years old
- Marriage Certificate of the investor and spouse
- Criminal Record (issued within the last six months) of the investor and spouse
- Birth certificate
- Single Status Affidavit (issued within the last six months)
- Criminal record (issued within the last six months)
2- How long does the citizenship process take, and do I need to come to Turkey?
The citizenship process typically takes between 4 to 6 months. Both the investor and their spouse must be present in Turkey during the residence permit application and citizenship application processes. These applications can be completed within a total of 2 weeks. Therefore, if you stay in Turkey for 2 weeks, your applications can be finalized.
3- Some countries first grant a residence permit and then grant citizenship after periods of around 5 years. How does the process proceed in Turkey?
Acquiring Turkish citizenship is not subject to any residence period. Only obtaining a residence permit before citizenship application is mandatory. The completion of the citizenship application process takes an average of 6 months.
4- What is the required investment amount for Turkish Citizenship through real estate investment?
A minimum of USD 400,000 worth of real estate in Turkey must be purchased.
5- How is it determined that the real estate is worth USD 400,000?
Before purchasing the real estate, a valuation firm authorized by the Capital Markets Board of Turkey determines the fair market value of the real estate. If this value exceeds USD 400,000, the real estate can be used for citizenship.
6- I heard that real estate agents manipulate real estate prices in Turkey. Is there another method I can use besides the official valuation mentioned above?
To ensure the value of the real estate, you can obtain a special report from valuation firms that work with Turkish banks to learn the collateral value of the real estate. Price manipulation mostly occurs in real estate purchased directly from construction companies. Real estate agencies may charge a commission of approximately 10% to 20% from construction firms without the buyer’s knowledge. Therefore, it is advisable to be cautious.
7- Can I buy multiple real estate properties totalling more than USD 400,000 instead of one real estate worth USD 400,000?
Yes. For example, you can buy 2 properties worth USD 200,000 each or 4 properties worth USD 100,000 each.
8- I really like a property but it's very expensive, so I want to buy real estate in partnership with someone else so that my share is equivalent to 400.000 USD. Will this qualify me for citizenship?
No. Citizenship cannot be obtained through the purchase of real estate in partnership with someone else.
9- Instead of an apartment, I want to buy land to become a citizen. Is it possible?
No. Unfortunately, citizenship cannot be obtained through the purchase of land as of 2024.
10- The contractor says that the transfer of title deeds for the real estate is currently not possible but the real estate can be sold through a notary contract. Can I apply for citizenship this way?
Yes, you can. The real estate must be at least an independent section with a condominium easement. The sales price must be paid in advance before the date of the contract. However, if two properties are involved and one is acquired through a notary contract while the other through a title deed transfer, you cannot apply for citizenship.
11- How do we determine the sales price of the real estate?
The buyer should convert the agreed price in dollars to Turkish Liras by selling it to the Central Bank of Turkey. The Turkish Lira equivalent must be written exactly in the sales contract and the amount must be transferred directly to the seller's bank account. There is no obligation for the amount to be the same as the official valuation amount but in any case it must be more than 400,000 dollars.
12- What are the other conditions regarding the real estate?
The real estate to be sold must belong to a Turkish citizen or a Turkish company. It must not have been previously used for citizenship application. The real estate in question must not belong to a person who is not a Turkish citizen by birth.
13- Do I need to open a bank account to pay for the real estate?
You can either send your payment to the seller's account from abroad or to the account of your proxy. In this case, your proxy can pay the seller on your behalf. This will make your job easier, especially if you are a citizen of a country that has difficulties in opening a bank account in Turkey.
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