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Turkish Citizenship by Investment in Real Estate in 2020
Today we are with Mr. Hamit Talebi founder of HausBiz company and today we are going to talk about Turkish citizenship by investment and specially Turkish citizenship by real estate investment in Turkey.
Mr. Hamit could you please give us a general explanation about Turkish citizenship by investment:
Yes Sure, According to Turkish new regulation which was published on Turkish official Gazette on 19 September 2018 there are some new amendment put into practice. The Turkish government reduces the amount of investment options in order to get Turkish nationality. following this amendment, on December 2018, Turkish government made new amendment which allows investors even invest on under construction real estate properties in order to get Turkey citizenship by investment. Following, on March 2019 new amendment released which allows Palestinian to apply for citizenship by investment by holding a valid travel document to Turkey.
In the first 9 months of 2019, in total 2611 investor could get their Turkish citizenship by investment and calculating them by their family members, in total 9962 individual succeed to get citizen of Turkey
Generally speaking, there are 6 options to become a Turkish citizen by investment, however, I want to mention the three well-known options. For the rest of options for Turkish citizenship by investment please click the link.
- The first option which is the most tempting and famous one is a Turkish citizenship by buying property which is more than 95% of applicant are applying through that. Investors can buy any residential or commercial property in Turkey by minimum amount of 250,000 USD investment or any other equivalent currency. The past condition for buying real estate was 1,000,000 USD.
- Second option is depositing by minimum amount of 500,000 USD in any Turkish bank account and hold it for 3 years. The old condition for this option was 2 million USD.
- The third option is establishing a company in Turkey and hire at least 50 Turkish man powers, however, the previous condition was hiring 100 Turkish Employees.
How long do we need to hold the property?
The investors need to hold the property for 3 years and after that period they can resale their property while holding their Turkish citizenship.
Which nationalities are eligible to apply for Turkish citizenship by investment?
All nationalities can apply for Turkish citizenship by investment except Armenia, Syria and North Korea.
Will family members either get the Turkish citizenship by investment?
The main applicant, his/her spouse and children under 18 years old can get Turkish citizenship. Also the handicapped children who are older than 18 years old can get their citizenship.
What about the parents of main applicant?
The parents cannot apply for citizenship. However, as long as the main applicant gets a Turkish citizenship, the main applicant parents can apply for a normal residency permit.
What is the Turkish citizenship process by real estate investment?
Generally speaking, I can divide Turkish citizenship by property into 5 main steps as below;
5 MAIN STEPS
- You come and choose your property which you liked
- Appraisal value report or Valuation Report (we need to get valuation report who is licensed by government)
- Certificate of conformity (3-20 days)
- Residency Permit (no:6458/31-J) it is not a tourist residence permit (8-15 days)
- Citizenship application (1.5 - 3 months)
However, if I go in more depth about the process of getting a Turkish citizenship by real estate I will clarify the process by 10 steps as below;
- The process starts by ownership or title deed get under applicant name
- An authority/Officer licensed by government make the valuation report of worth of the property
- Then we put an annotation on title deed mentioning the applicant won't resale the property during 3 years, and
- Then title deed office will send the client file to general directorate office (Tapu and Kadastro Genel Müdürlüğü), General directorate of Title deed will check the amount of applicant wire transfer payment, official sale contract and appraisal valuation report. If the 3 mentioned documents are over than 250K USD worth,
- Then they will issue a document called Certificate of Conformity,
- As soon as we get the certificate of conformity, we can apply for residency permit on behalf of client which will get ready in 2- 15 days,
- As soon as we obtain resident permit we can submit the citizenship application, to citizenship department
- Then the citizenship department will send the applicant file to ministry of the interior,
- The ministry of the interior will do Due diligence and security check about the applicants and after completing all the investigation, they will send the applicant file to the presidency office
- As long as the presidency office sign your document, the client will become automatically a Turkish citizen, which they will issue a certificate which shows you are a Turkish citizen.
Is there any interview or minimum Turkish language test?
NO, there is no interview or Turkish minimum language test.
Is there any minimum requirement to stay in Turkey after getting a Turkish citizenship?
No, you we whenever enter or leave the country
Can investors buy more than one property?
Yes of course, to be honest for some of our clients which are looking for investment more than settling down in Turkey, I offer high rental income strategy by buying 2 or 3 money-value property or under market value properties.
What type of properties are eligible for Turkish citizenship by investment?
The investor can buy a residential or commercial real estate property.
Do the investors need to buy the properties at the same time or they can buy the properties in a long term by worth of 250K USD?
Since the new regulation put into practice on 19.09.2018, investor is buy property in different period of time in subject to the total worth of properties be minimum 250,000 USD, however, my advice to investor is to buy their properties in short term because we don't know how long this exceptional program will run. In order to avoid any kind of hassle during obtaining Turkish citizenship by buying property investors should make a short term plan.
What type of title deeds are eligible for applying Turkish citizenship by investment?
We have two different title deed in color-wise in Turkey which are BLUE TAPU and RED TAPU. First and foremost, the title deed (Tapu) must be Red Tapu, on the other side Red title deed itself is divided into two type of title deed which are KAT İRTIFAKI or KAT MÜLKIYETI. The real estate project can be under construction, however, the property need to hold at least KAT İRTİFAKİ title deed.
How long does it take to get the Turkish citizenship?
it takes between 2 to 6 months to get your Turkish citizenship by investment
What are the required documents for Turkish Citizenship by Investment?
| NO. | Document |
|---|---|
| 1. | Proof of address Or certificate of residency |
| 2. | Copy of title deed or original notarized sale contract |
| 3. | Appraisal value report or Valuation Report (we need to get valuation report who is licensed by government) |
| 4. | Receipt of wire transfer from buyer individual bank account which is officially stamped by bank |
| 5. | Receipt of wire transfer from Seller bank account which is officially stamped by bank |
| 6. | If you are married Certificate of Marriage OR Marital Status certificate which is showing you are single |
| 7. | Birth Certificate (for all family members) |
| 8. | Family member registration certificate (a certificate or record which shows all family members such as husband, wife and children) |
| 9. | 8 Biometric picture for main applicant and 2 number for dependent |
| 10. | Power of Attorney from main applicant and his/her spouse, and if they have a children we will add an article for children POA of spouse |
| 11. | passport of main applicant, spouse and children under 18 years old need to translated to Turkish language by Turkish sworn translator and notarized in Turkish notary |
