Turkish Citizenship by Real Estate Investment: 2024 Conditions and Procedures for Obtaining It
Why Turkey?:
Location:
Turkey has a strategic location bridging between Asia and Europe, due to this unique location, it’s easy to access Turkey from all over the globe. Being situated between the continents added a diverse touch to Turkey's culture and rich history.
Turkish Passport:
One of the big benefits is that you can travel Visa-free for more than 126 Countries and have dual Citizenship. Travel hassle-free
Booming Economy:
Turkey's economy has continuously flourished for the last decade, attracting foreign investment across various sectors. Due to this significant growth, Turkey is safe for investment.
High Quality of Life:
Turkey provides its citizens with a high living standard with free education, affordable health care, and an enormous transportation network.
Conditions to Obtain the Turkish Citizenship through Real Estate Investment:
- The Property needs to be valued at $400,000 or more.
- Keeping ownership of the property for 3 years
- Citizenship in exchange for residential or commercial property.
- The property can be ready or under construction.
- The Real Estate can be used for residence or rental.
- Multiple properties should be submitted with one notarized contract.
- The real estate appraisal report should be in Turkish Lira.
- The currency transfer document is sent to the Land Registry Directorate by registered mail
Who can naturalization through Real Estate Ownership:
- Individuals from all countries can apply for naturalization through Real Estate Ownership, except for individuals from Syria, North Korea, Cuba, and Armenia
Documents Needed to Apply for Turkish Citizenship Through Real Estate Investment:
- Passport
- Turkish tax identification number
- Title deed or notarized contract of the property
- No criminal record certificate
- Real estate appraisal report with a minimum of 400,000 Dollars
- Receipt of transferred funds to the Central Bank
- Verification of payment for the property being transferred to the seller's account.
- How to apply for the Turkish citizenship through real estate investment in 2024:
Choosing a suitable property for citizenship:
Pick a property or properties valued at $400,000, meeting the requirements. The property can be residential or commercial.
Exchange the payment according to the Central Bank pricing:
Exchange the purchase payment from Dollars to Turkish Lira according to the Turkish Central Bank.
Send the appraisal report to the Land Registry Directorate:
This step is essential, send the real estate evaluation report to the Land Registry Directorate, then the Land Registry Directorate will forward it to the Ministry of Environment to inspect the report and if the report checks out, the Land Registry Directorate will approve the request.
Putting a hold on Property sale:
After the approval, the Land Registry Directorate will put a hold on selling the property for 3 years.
Obtain the Turkish Citizenship:
Lastly, The Turkish Citizenship application will be transferred to the General Directorate of Population and Citizenship Affairs for studying and once it is approved, you will be granted the Turkish Citizenship. Congratulations!
- FAQ about Obtaining the Turkish Citizenship through Real Estate Investment:
Can I sell my apartment before the 3-year hold period?
No, you cannot sell your property before the hold is lifted at the end of the 3 years.
Can I rent out my property during the hold period?
Yes, you can rent out your apartment during the 3-year period.
How long does the application process take?
The processing time for citizenship applications can vary, but it generally takes between three to six months.
Can I include additional family members in my application?
Yes, you can include your spouse and children under 18 in your citizenship application.
FAQ
Yes, they do. Foreigners have the right to own properties in Turkey.
Turkish citizenship can be obtained through real estate investment with more than $400 thousand in Turkey, along with a pledge not to sell the property for 3 years. More information
Istanbul
Istanbul is a major city in Turkey that straddles Europe and Asia across the Bosphorus Strait. Its Old City reflects cultural influences of the many empires that once ruled here. In the Sultanahmet district, the open-air, Roman-era Hippodrome was for centuries the site of chariot races, and Egyptian obelisks also remain.
