Turkish citizenship for investors
The form of the law for obtaining Turkish citizenship for investors was organized for the first time in 1917 CE, when tangible changes were made to this law on September 18, 2018, and in this way the procedures for obtaining Turkish citizenship became easy for investor citizens.
Through these facilities, we will work to clarify the necessary matters for everything that is in the mind of the investor so that the matter is clear to all investors.
What is the date on which the foreign investor must purchase the immovable property in order to obtain the Turkish citizenship? Can a person who has previously purchased a property apply for citizenship?
- In accordance with the provisions of the relevant law, the purchase of immovable real estate valued at US $ 250,000 and above must be made after September 18, 2018, which is the date of issuance of this law.
- And in order to apply for Turkish citizenship by purchasing the immovable property that was previously purchased by the investor, the value of the immovable property must be $ 1,000,000.
Do the family members of a person who obtains Turkish citizenship obtain Turkish citizenship?
- Only the wife of a person who acquired Turkish citizenship and his children under the age of 18 obtain Turkish citizenship, and in the event of more than one wife, one of the wives obtained a marriage certificate without the consent of the second wife, certified by the second wife. Turkish citizens, except for the children over the age of 18, the father and the mother, but they can obtain a permanent residence permit in Turkey.
Should the US dollar be used only to purchase the immovable property?
- No, the foreign currency rates issued by the Turkish Central Bank are taken into consideration on the date of purchasing the immovable property, and the amount is converted into Turkish lira.
Is it required for a person applying for Turkish citizenship to reside in Turkey for a period of time?
- A person applying for Turkish citizenship or obtaining Turkish citizenship is not required to reside in Turkey.
How is the value of the immovable property to be purchased determined?
- The value of the immovable property was determined on the date on which the value of the property is assessed by the non-movable property valuation company licensed by the Capital Market Corporation.
- And for this, the company concerned gives us an appointment within 10 days, according to the title deed certificate for the property, which will be sent to the company concerned.
- Conducting an audit of the immovable property in order to photograph the property from the inside and photographing its surroundings outside, and auditing it by the title deed management and issuing a sealed appraisal report.
What is the process of applying for the applicable citizenship after obtaining the assessment report of the value of the immovable property?
- The sale of immovable property is suspended for a period of 3 years, and this is registered in the Land Registry and an application for Turkish citizenship is submitted through the completion of procedures in other institutions.
After obtaining the Turkish citizenship, when does the person have the right to sell the immovable property?
- After the expiration of 3 years from the date of suspension of selling the immovable property, which is for a period of 3 years and is registered in the Tabu, where after this period it is possible to sell the property to a person who left or a foreigner.
Can people who are partners in immovable property apply for Turkish citizenship?
- Individual partners can apply for citizenship, provided that each partner’s share in the property is at least $ 250,000.
As for the immovable property that was purchased through the agreement and its value has been paid, and the title deed will not be issued to it until now, can the owner of such a property submit an application for citizenship?
- A person in this case is not entitled to apply for citizenship, but in the event that the person applying for the tapu is the same person who owns the immovable property, in this case he can apply for a request.
- And in such cases, the person can submit legal procedures to obtain the title deed.
Is it possible to apply for citizenship by selling the previously purchased immovable property and transferring its ownership to the same person’s benefit again?
- Yes, the result is the purchase of the immovable property after the date of September 18, 2018, as the purchase of the movable property was not mentioned in the issued law.
- In addition, in this case, the state will benefit from the fees.
- Thus, the person has achieved the goal of the issued law, and from this standpoint there is no problem in such a procedure.
Can a person who has Turkish citizenship obtain the citizenship of another country?
- It is not necessary for a person who obtained Turkish citizenship to exit from the nationality of his country and he can apply for a third country nationality.
With regard to obtaining Turkish citizenship by depositing an amount, should this amount be deposited in Turkish lira?
- The person who deposits an amount of (500,000 US dollars at least) or its equivalent in other foreign currencies or Turkish lira in the bank account and freezing this amount in the account for a period of 3 years, according to the nationality. Turkey and obtain a document freezing this amount from the bank.
Is it possible to withdraw part of the amount after depositing it and freezing it, or mortgaging this amount in exchange for a bank loan?
- In the event that the bank accepts this procedure without unfreezing it, the amount may be mortgaged in exchange for a loan as security, as this amount is frozen so it is not permissible to withdraw any part of it.
Is it permissible to buy immovable property with this frozen amount?
- In the event that the amount is suspended for a period of 3 years and the application for obtaining citizenship, this required condition can be met.
Is the amount of taxes deducted from the amount frozen in the account?
- In the event that the amount is deposited into an interest-free account, no tax amounts are deducted from it, but if this amount is deposited with interest, the interest accruing to it in one year is 24% of interest, and this interest is deducted from the interest of 15% from this day, i.e. 72% of the interest in the third. This amount is deposited, and no amounts are deducted from the main deposited amount.
- These figures have been written according to the data issued these days, assuming that the interest rate may change in the coming years.
Is the real estate investor worth 250 thousand dollars entitled to apply for citizenship without owning a tapu?
- Yes, he is entitled to apply under the sale contract, provided that he is notarized by a notary (Notre) according to what was mentioned in the last amendment to the law on December 7, 2018.