You can get a Turkish citizenship by buying house. Of course, with considering some requirements. Since 2016, Turkish governments has launched a program where you can get a chance to receive a citizenship acquisition by investing an amount of money to the immovable property in Turkey. Peoples required to purchase real estate that is worth a minimum US$1 Million back then. But this offer seems not to get so much attention.
The New Rules Regarding Real Estate Investing
Moreover, Turkish currency and debt crisis in 2018 has removed nearly 30% of Lira’s value. So, to cope with this situation, Turkish Official Gazette published the new regulation about the investment. They change the rules regarding transition of foreigners to become the Turkish citizens. Where they dropped the rates drastically in 2018. The minimum investment decreased from US$1 Million to US$250.000. This is accompanied by the period of the property has to be held which was cut down to three years after acquiring citizenship. The action is effective enough for responding the issue. Although there are protesters who oppose the low minimum value of property, investment in Turkey is proving to be thriving.
Single or Multiple Property
The foreigners can buy any kind of property. It can be a house, apartment, or even land. To reach the US$250.000 threshold, the applicants may purchase a single or multiple property.
If your case is ‘multiple property’, they must be in the same neighborhood and must be registered on the same day to be counted towards the threshold.
Steps to Apply for Turkish Citizenship by Real Estate Investing
1. Get Your Tax Registration Number
Foreigners can obtain their tax registration number from any local tax office in Turkey. Please bring your passport and photos. They will input your information into a database. After that, you will get the tax number.
2. Open a Local Bank Account in Turkey
Foreigners required to bring their original passport and tax registration number to make an account. To show the current address, you also need to provide an official document, such as public utility bill. Bring the document of transaction during the buying stage either.
3. Find Your Prospective Property
You can purchase one or multiple units where the total value is reaching or exceeding US$250.000. You have a good choice if the property has filled out these requirements:
Having the Construction Servitude or Title Deed; grant the habitation license; and suitable to receive a real estate appraisal report (the certificate of eligibility). The status of construction can be either complete or almost complete.
4. Buy Your Chosen Property
Foreigners required to pay the property via Bank Transfer using their Turkish bank account. Remember to file your transaction by receipt. You will get the Title Deed and/or Notarized Sales Contract with annotation not to be sold for 3 years.
5. Obtain the Certificate of Eligibility
You need to apply to the General Directorate of Land Registry and Cadaster to get the Certificate of Eligibility. The cost is between 1.000 to 2.000 Turkish Lira. The expected time to finish the process is about three days in Istanbul and six days in other provinces. It will be valid for about three months from approval. Foreigners must refuse to deal with real estate agents who claim to have a license to conduct appraisals. Let the authorities became the one who handle this matter to avoid all forms of fraud.
6. Apply for Turkish Residency
After foreigners have made the investment, they must obtain a residence permit. It because they should be a legal resident when they apply for Turkish citizenship. Turkish residence permit for citizenship will usually be issued on the day you apply. Make sure to gather any required document. After you have received it, there is no need to stay or live in Turkey to becoming a resident. This is just a formality.
7. Lodge for Your Turkish Citizenship
After your residence permit is granted, submit your paperwork to the Provincial Directorate of Census and Citizenship. There is no interview you should do. It is good news to us that Turkish government make it easy for foreigners to have Turkish passport. And what is even better is that you do not have to be there in making the decision. You just need to drop the paperwork off and go back to your home country while holding the title deed. You will receive the passport via mail in the next 3-4 months. After you have got it, the passport will remain valid for about 10 years.