How to Acquire Turkish Citizenship By Purchasing a Property?
Many people from different nationalities are interested in acquiring Turkish citizenship in order to reside and live in Turkey. During the last ten years, Turkey has become an excellent destination for investment and residence for many citizens of neighbouring countries, especially those who are witnessing military wars or economic fluctuations and poor living conditions. Moreover, Turkey is considered the ideal destination due to its multi-social and cultural nature. It is a mixture of western life with its modernity and way of living while preserving Eastern Islamic customs.
Many foreign investors, especially those coming from Iran, Afghanistan, Pakistan and some Arab countries, seek to obtain a Turkish passport as it ranks 53rd according to Guide Consultants for passports ranking. Holders of Turkish passports enjoy visa-free travel to 111 travel destinations around the world or obtain a visa upon arrival in many countries such as Brazil, Qatar, Albania and South Korea. Accordingly, this allows the holders of this passport to travel immediately to many countries around the world. However, Turkey passport holders will need to obtain a visa in advance to enter about 118 countries including China, European Union countries, and India.
Obtaining Turkish Citizenship By Investment
In 2018, the Turkish government issued a presidential decree, amending the law of acquiring Turkish citizenship. The law related to acquiring Turkish citizenship based on investment was amended in April 2018, when Turkish President, Recep Tayyip Erdogan, issued “Resolution No. 106”, which stipulates that “Pursuant to Article 46 of Law No. 5901 of Granting Turkish citizenship, an amendment decision was taken in the application of Law No. 139/2010, issued on 11/2/2010, in terms of granting Turkish citizenship, by amending the requirement of depositing money as a fixed deposit in one of the Turkish banks. The amendment stipulates that the deposited amount shall be 500,000 dollars, or their equivalent in Turkish lira, instead of 2 million dollars or their equivalent in Turkish lira.”
The decree also stipulates that a foreigner or an investor has the right to acquire Turkish citizenship in the event of purchasing a property worth $250,000 instead of $1 million. However, in 2022 the Turkish government raised the minimum amount for obtaining Turkish citizenship to $400,000 instead of $250,000, provided that the buyer shall retain the property and not dispose of it for a period of no less than 3 years. Pursuant to the law, the investor may acquire citizenship for himself, his wife, and children under 18 years.
Seven Steps to Turkish Citizenship by Investment
During the year 2022, the Turkish government made a package of amendments to the law of property ownership for foreigners. It has also introduced amendments to the conditions of ownership, the laws related to real estate residency and its new terms, as well as the laws of acquiring Turkish citizenship applied to foreigners. At the end of April 2022, the Turkish government raised the minimum amount, required for obtaining real estate residency in Turkey, in return for purchasing a property to $75,000 in major cities such as Istanbul, Ankara, Antalya and Aydin, and $50,000 in the rest of states in Turkey. In May of the same year, the Turkish government raised the minimum amount for acquiring Turkish citizenship, in return for buying a property, to 400,000 US dollars, instead of 250,000 US dollars. The decision entered into force in mid-June of that year.
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01 Obtaining a Tax Number
It is known in Turkish as (Vergi Numarasi), which is a number assigned with the Tax Department in Turkey, and it is required to be for many legal or official processes. It is a paper that can be extracted from any Turkish city from the Tax Department easily, regardless of whether you have an official permit residence in Turkey or not, it is enough to have a translated passport that certified at the Notary, or a copy of a notarized rental contract.
02 Opening a bank account
Opening a bank account at one of the banks operating in Turkey, in which the investor deposits his money in dollars in the bank before converting it to Turkish Lira, as it is required that purchasing process should be made through banks, In MAB Turkey our team will help you to open a bank account easily.
03 Finding the property
One of the most important steps that the investor must take is to search well and compare many options until he decides to buy, as every investor has specific specifications in the property he wants to buy, in terms of the type of property, whether it is an apartment, a villa, or a commercial unit, as well as the number of rooms, the required area. So, he should choose the right property that matches all the required specifications he wants and is looking for, and he reserves it and pays the value of the property, which must not be less than 400 thousand dollars, and obtains the property contract from the construction company or from the original owner of the property.
04 Money transaction receipt from the bank
It is a document imposed by the state at the end of 2021, and it is a bank receipt confirming the buyer’s transfer of his money from dollars to liras and then transfer the purchase amount from the buyer’s account to the construction company or the person selling the property, and the state has committed the investor to it within the required documents.
05 Preparing the official documents
The investor must bring a copy of the sale contract (if the purchase is through a construction company to buy an apartment in installments or for cash, then the initial purchase contract is required until the ownership is transferred from the company to the investor, provided that the contract is in both Turkish and the language of the buyer. There is a set of papers to be attached with the purchase contract, including: a copy of the building license for the project, a copy of the original title deed of the property to its first owner, whether it was a company or a person before transferring its ownership to the buyer, as well as bringing an insurance policy for the property against natural disasters such as earthquakes, known as (DASK).
06 The expenses of transferring title deed (Tapu)
There are fees should be paid when transferring the title deed of the property from one person to another. These fees are estimated at about 4% of the value of the property that written in the contract, the fees should be paid equally between the seller and the buyer, especially if the seller a construction company to encourage customers to buy from its project, so that the seller pays 2% and the buyer pays 2%, unless the seller and the buyer agree that one of the parties will pay the full amount of 4%. The ownership fees are paid through a bank transfer by sending a text message by the buyer and seller’s phone during the title deed transfer process, as it informs them of the value of the fees they must pay in addition to the account to which they have to send the fees, so that the process of paying the fees takes place before signing the transfer of ownership between Both parties (buyer and seller).
07 Applying for real estate residency and submitting the citizenship file:
Once the registration of the title deed is over, the investor applies to obtain real estate permit residence for himself and his family at the Immigration Department for Foreign Affairs, until the completion of the preparation of the Turkish citizenship file, which in turn requires bringing all official papers and documents related to him, his wife and children under 18 years old, and submitting all supporting documents from the investor’s country, It should also be translated and certified by the Turkish embassy in the investor’s country. The foreign investor should be aware that the nationality file goes through four phases since the date of submission of the application, provided that the duration of the procedures does not exceed three months from the date of submission.
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Frequently Asked Questions
Buying a property worth not less than USD 400,000 with a 3-year commitment not to sell. Deposit USD 500,000 in a Turkish bank. Invest USD 500,000 worth of fixed assets. Employing at least 50 Turkish citizens at your own company.
Buying property in Turkey from a Turkish citizen or a Turkish company. The immovable property must have a legal title deed, even if it is under construction. The real estate purchased must be worth at least USD 400,000. The real estate price must be paid by wire transfer from a bank outside or inside Turkey.A commitment not to sell the purchased real estate for 3 years.
Selection of a property that meets the requirements for Turkish citizenship. Payment of the real estate price by a bank transfer from inside or outside Turkey. Imposing a lien that prevents the sale of the real estate for 3 years after the title deed is obtained. Obtaining a letter from the Land Registry Office stating that the immovable property meets the conditions for obtaining citizenship.
