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FAQ on Turkish citizenship by real estate investmentimage

FAQ on Turkish citizenship by real estate investment

03/10/2021

Turkish citizenship is considered one of the strongest nationalities and enjoys great international competition, and the holder of the Turkish passport allows him to enter several countries without a visa, such as: Qatar, Japan, South Korea, Malaysia, Singapore, Hong Kong, Indonesia, Brazil, Argentina, Belarus, and Bosnia Herzegovina, Brunei, Chile, Georgia, Serbia, South Africa, Thailand, Northern Cyprus, Ukraine, and other countries. Among the most important countries that allow entry to it with an immediate visa issued upon arrival: the State of Kuwait, Bahrain, Lebanon, and most African countries. It is also possible to enter more than 7 countries under an electronic visa issued online, including: Australia and the Sultanate of Oman.

• The best ways to obtain Turkish citizenship:

These are those that are through real estate ownership. Turkey has issued a decision requiring the granting of Turkish citizenship to foreigners with their families by investing 250 thousand US dollars in real estate in Istanbul or any Turkish city. And the matter is not limited to this condition only, there are many options that anyone can go to, such as:

- Make a fixed capital investment of at least 500,000 US dollars, confirmed by the Ministry of Treasury and Finance.

- Creating job opportunities for at least 50 employees, confirmed by the Ministry of Family, Labor and Social Services.

- Deposit at least 500,000 US dollars in banks operating in Turkey, and keep the deposit for 3 years in those real estate banks, and the Banking Regulation and Supervision Agency must confirm the deposit.

- Purchasing public debt instruments with a value of at least $500,000 and holding them for 3 years, and the Ministry of Treasury and Finance must confirm the purchase.

obtain Turkish citizenship

• The most common questions about Turkish citizenship

There are dozens of questions that are asked by many, questions related to details, procedures and conditions that every person who intends to obtain Turkish citizenship through real estate investment wants to know, we present the most important questions that are asked by many:

1. What are the conditions for financial and real estate investment that will enable me to obtain Turkish citizenship?

§  Making fixed investments or buying government bonds; with a value of not less than 500 thousand US dollars, and for a period of not less than three years.

§  Make a bank deposit; with a value of no less than $500,000, and for a period of at least three years.

§  Buying real estate in Turkey worth more than 250 thousand US dollars, and keeping it for at least three years.

2. Is permanent residence required within the country for a certain period?

A person is not required to be residing in Turkey when applying for citizenship through the investment conditions, as it is possible to appoint a competent authority to undertake the procedures for buying real estate and to apply for citizenship.

3. Are there interviews that take place after submitting an application for citizenship?

If the application is through an investment or real estate purchase condition, there is no interview with the committee. In the case of applying through the rest of the conditions, such as the condition of exceptional nationality or the condition of residency of work, there are a number of interviews.

4. The estimated time for the stages of obtaining Turkish citizenship?

There is no fixed specific period for obtaining citizenship, as it varies from person to person and according to each case. For example, it may take several months to apply for citizenship by purchasing a property. It may take from several months to two years or more when applying through the Turkish Exceptional Citizenship Law.

obtain Turkish citizenship

5. Is it possible to pay in a currency other than the dollar to buy a property in Turkey to obtain citizenship?

Yes, it is possible. The price of real estate is paid exclusively through bank transfers, provided that the transfer is from the buyer's account inside or outside Turkey to the seller's account. The value of the property cannot be paid in cash, and payment can be made in Turkish lira or any other currency. The exchange rate of the dollar or other currencies is calculated according to the official Turkish lira rate announced in the price bulletin of the Central Bank of Turkey on the day of purchase.

6. Is it possible to include a partner in the investment of one project?

A group of persons cannot participate to benefit from an investment or real estate condition with a single financial entry; unless the contribution of each of them is equal to the required amount, as if each person pays $500,000 for investment, or $250,000 only, after which there is no objection to sharing one project.

In the end, there are many questions that may not end. This type of topic requires many questions and careful investigation, as each question here is of great importance that may cause the complete cancellation of the application for citizenship. For example, the lack of the required amount to buy the property. Every person who comes to this matter must investigate deeply and thoroughly and know all the questions related to this matter well, as it is possible that one question may have been missed, causing you troubles and difficulties later. Getting the answers is considered the most important procedure that anyone who is about to apply for Turkish citizenship by buying a property must abide by.

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Diyar Turk Real Estate team

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