Recently with a new legislation it is possible to acquire Turkish citizenship with property purchase at Turkey. This info has been prepared for giving a general overview on acquisition of Turkish Citizenship in aspect of this legislation and other relevant legislations.
1. What is the regulation?
The Regulation Regarding the Implementation of the Turkish Citizenship Code (“Regulation”) entered into force at 2018/09/19.
2. What is the actual procedure to acquire the Turkish citizenship?
Any foreigner may acquire Turkish citizenship exceptionally on the following terms:
- To purchase a real estate having the value of at least USD 250.000 or equivalent foreign currency or Turkish Lira on condition that put an annotation not to sell/transfer for 3 years to the land registry,
- To sign a statutory formed preliminary contract by public notary to purchase the real estate for which paid at least USD 250.000 or equivalent foreign currency or Turkish Lira in cash and with established condominium or construction servitude, on condition that to annotate this contract to the land registry with a commitment that not to sell or not to cancel this annotation for 3 years.
With appendant Clause 6 and Clause 2 it has been stated that determination of the monetary values will be done based on the effective selling rate and / or cross exchange rate of the Central Bank of the Republic of Turkey at the determination date.
The procedure for obtaining citizenship by purchasing real estate are as following:
A foreigner must be a citizen of one of countries determined by President and meet the acquisition conditions set forth at Article 35 of Land Registry Law.
The real estate value assessment report, which is prepared in accordance with the valuation standards, is sought by the government for the application.
The US dollar value of the property shall be calculated based on the amount stated at real estate value assessment report and the effective USD selling rate and / or cross exchange rate of the Central Bank of the Republic of Turkey on transaction date.
At the purchase of the property, the buyer shall give declare that the property will not sold within 3 years and a title deed restriction of not selling the property within 3 years shall be added the restrictions section of the title deed or to annotate a statutory formed preliminary contract to the land registry with a commitment that not to sell or not to cancel this annotation for 3 years.
3. If the real estate investment is made, when the foreigner may apply for acquiring citizenship? Immediately or after the 3-mentioned years?
The foreigner does not have to wait for 3 year to apply acquisition of citizenship since it has been stated at law that “to buy the real estate with putting an annotation” or “to annotate a statutory formed preliminary contract”. For these reasons, after the above conditions have been fulfilled, the foreigner may start the necessary procedures for Turkish citizenship.
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