Full Steps To Gain Turkish Citizenship By Investing Real Estate In New Regulations

19 April 2022 Real Estate News

Turkish Citizenship By Investing Real Estate In New Regulations

1. General View Of Turkish Citizenship Acquisition Through Real Estate Investment

The  method of Turkish citizenship acquisition through real estate investment is related to: Act No:5901,which has been amended later in 2017 in which naturalization program through real estate investment in Turkey has become the best compared to other states on the list that provide nationality through real estate investment.

As Turkey started the naturalization or granting citizenship to all foreign investors and their families (husband, wife and all children under 18) who buy one real estate or more with the value of minimum 400.000 U.S.D and the investor must undertake not to sell before 3 years starting from the date of the Turkish citizenship application.

2. Official Required Documents From Outside Turkey

The applicant begins the process of gaining Turkish citizenship through real estate investment by preparing all required paper work documents for himself and his family in his home country or at the Turkish Embassy in the foreign country where he is residing.

The following are the documents that must be Completed :

A.Proof of address (document containing the investor's name and active address outside of Turkey) This document will be used to create a bank account in Turkey once he arrives.

B.Translation and stamping of the investor's and his family's birth certificates from the Turkish embassy in the investor's home country.

C.Passports for all applicants, including the spouse and minor children under the age of eighteen.

D.Marriage certificate translated to Turkish and Stamped from the Turkish embassy.

E.Four Biometric Pictures for all applicants.

3. Real estates selection and reservation

The method of Turkish citizenship acquisition through real estate After completing the processing of the required papers and documents, and making a decision regarding the real estate or the property to be purchased, we will pre-book the property and pays the value of the reservation,which is determined at 1% of the property value according to Turkish law, and this reservation is valid for a period of 15 days unless If  agreed otherwise, the reservation amount will be returned in the event the investor decides to cancel the purchase for any reason.

4.Real Estate Appraisal

After selecting the real estate and reserving it,Seller will apply for the property evaluation to cadastre service so they would send a real estate appraiser to evaluate the selected real estate and the appraisal bill would be paid by the buyer as the payment would be cut from the reservation sum,appraisal period is 1 to 3 days.

5.Signing Contracts

After getting the expertise report (appraisal report) and matched the value of the property, sale contract is signed between the buyer and seller. An appointment on the date and payment method will be agreed at that time.

6.Official Required Documents From Inside Turkey

During the period in which the real estate appraisal is carried out,the buyer will translate the passports, and give his power of attorney to the lawyer who will submit his citizenship application,in addition to opening the bank account.

7.Bank Wire transfer

After opening a bank account in Turkey there are several ways to complete the payment:

Method 1:

The buyer transfers the funds from his/her personal bank account from outside Turkey in US dollar or EURO currency to local bank account of the seller or the developer. After receiving the funds, the seller will exchange the funds from USD or EURO to Turkish lira from the Central Bank. Mentioning the name and the details of the buyer in the description of the exchange process, After the Exchange has been done the Center bank Provide a exchange certificate which will be needed in later stages.

Method 2:

The buyer transfers the funds (US dollar OR EURO) to his personal bank account in Turkey, after that through his/her Turkish bank account, the Turkish lira is purchased from the Turkish Central Bank, in other words exchange from USD to Turkish lira from your personal account. The details like name of the buyer, his passport number and the details of the property are mentioned in the description of the transfer, After the Exchange has been done the Center bank Provide a exchange certificate which will be needed in later stages .

8.Payment Real Estate Tax

After completing the previous stages, the seller will now have all the necessary papers to extract the date of transferring the title deed of the property:

A. exchange certificate.

B. Real estate appraiser report.

These papers are uploaded on the website of the Land Registry Department in Turkey and the date of transferring the title deed is submitted, and within a period ranging from one to seven days, a message will come with the date, place, and taxes incurred on the property where the buyer must pay them by bank transfer only (Cash is not Accepted).

9.Title Deed Delivery

After the letter arrives on time, the buyer or the lawyer in charge of and has power of attorney for the citizenship file can go to the Land Registry Department and extract the title deed.

10.Obtaining The Certificate Of Real Estate Suitability To Turkish Citizenship Requirements.

After obtaining the title deed, the lawyer which is responsible for the citizenship application,submits the papers and the transfer receipts in which the property or real estate was purchased.To the land Registry office and apply for an approval certificate

(Approving that the property is matching the requirements of Obtaining Turkish Citizenship by investing in Real Estate )

After obtaining the approval certificate, a stamp is placed on the title deed to not be sold for a period of three years.

11.Applying for Turkish citizenship through  real estate investment

During this stage the appointed lawyer for following up with the citizenship application,Will submit all the previous document to the Citizenship application office , and the Application will be considered as Active once it has been submitted.

12.Obtaining Exceptional Residency

After the submitting of the document , the Office will issue an exceptional residence permit to the Buyer only within a period of 3 Working Days.

13.Following up

The lawyer will follow up with the case online , And he will be providing any necessary document in case it was required and will be keeping the applicants up to date with the progress , Through this process the application will be checked and reviewed  and  the required research about the applicants will be done , before forwarding the case to the presidential office to be signed and approved, The process takes from 30 – 90 Days .

14.Obtaining Turkish Citizenship

After the document has been reviewed and checked and all the necessary research has been done , The Presidential office sign the application and Grants approvement, Citizenship Declaration Letter will be sent to the applicants and through it they will be able to submit and take their ID Cards and paspports.

In terms of investment and housing, Istanbul real estate developments provide a wide range. If you want to invest in real estate and buy a property in Istanbul, you may contact us, akdinvest , to learn more about our portfolio and projects.

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