Buying Property in Turkey: There are many ways to acquire Turkish citizenship. This article focuses on one of the most common ways to buy property and acquire Turkish citizenship.
First, I would like to point out that some agents and companies can help you Buying Property in Turkey. But before you start this process you need to know the terminology and details about it. Therefore, we have prepare this article to inform you about everything you need to know before you start investing through real estate investment in Turkey.
Here we have in detail all the terms and conditions of application for Turkish citizenship in exchange for Buying Property in Turkey. Why real estate investment in Turkey?
What are the benefits of buying property in Turkey?
If you are thinking about investing in the Turkish real estate market. You save money in one of the fastest growing economies in the world. And the real estate market is taking advantage of this fact. Investment property sales are on the rise and are expect to continue as the country grows.
- Overall property prices are affordable.
- Low property taxes
- You are the “private business” of your Turkish property, whether it be a small apartment or a family home
- Property owners are allow to stay in Turkey.
- The cost of living in Turkey is very reasonable.
Turkish Citizenship by Buying Property in Turkey?
You will now be familiar with all the terms and procedures for applying for Turkish citizenship instead of Buying Property in Turkey. The new Turkish citizenship law has brought many benefits to the acquisition of Turkish citizenship after amendments and facilitation. This includes granting Turkish citizenship in exchange for dollars 250,000 worth of Real estate investment in Turkey over the past 1 million.
- The regulations divide foreign investors into two types:
- Anyone who buys property between January 12, 2017 and September 18, 2018 must have a property value of at least $ 1,000,000.
- For properties purchase after September 9, 2018, the price must be at least ,000 250,000.
- Conditions for obtaining Turkish citizenship By Buying Property.
- You are not allow to buy property from foreigners. (Non-Turkish)
All financial transactions for the purchase of property must be done by the bank. We do not accept bank transfers. The value of the property you purchase must be at least $ 250,000 so that there are no obstacles during the citizenship process. If you buy property in installments, you will be charge the amount you have already paid. Loans made later are not consider.
In no case can the property be sold within 3 years from the date of purchase. But after that you are free to manage your assets as you wish.
Steps to invest in property and acquire Turkish citizenship
- The Buying Property in Turkey must have a formal agreement (island) and be register with the state.
- Citizenship cannot be obtain through property that is still in use. Obtain a formal property valuation from a company register with the Turkish Financial Markets Authority (SPK).
- The purchase price record in the purchase agreement (TAPU) is calculate base on the Turkish Lira rate at the Central Bank on the date of registration.
It allows one to apply for Turkish citizenship through multiple properties own by the same investor. This is the total amount require for citizenship
Required Personal Documents:
- Birth certificate for investors only
- The criminal record of the investor and his wife is separate.
- Family statement or family book
- 4 biometric photos for each family.
Marriage Agreement When the property owner is married and wants to include the family in the process of acquiring citizenship. You should also get your Home Inspection in Mississauga certificate or report before making any kind of investment in the property. All documents issue outside Turkey must be certified by the Ministry of Foreign Affairs of the country whose certificate was issue and by the Turkish representative in that country. (Turkish Embassy or Consulate)