Real estate investments in Turkey attract many foreigners. In recent years, there has been significant growth and development of the economy, as Turkey has become one of the most popular tourist destinations in the world. The appetites of investors from different countries are only growing, because representatives of all nationalities, ages and social groups come here to rest. People come in pairs, alone and in large families, as Turkey has a developed structure of tourism and entertainment for all categories.
Another advantage of investing in Turkish real estate is the possibility of obtaining Turkish citizenship. In 2012, the Turkish government adopted a number of amendments to laws that facilitate the acquisition of citizenship by foreigners who own real estate here.
In September 2019, the Turkish government issued a new law that allows foreign investors buying property in Turkey with a minimum value of $ 250,000 to obtain citizenship in a simplified manner. This is what significantly increased the rate of economic growth in the real estate sector. The fact is that the minimum investment amount has been reduced by as much as four times!
To implement the project, the government created sales offices, which operate under the supervision of the Ministry of the Interior and other government agencies with relevant competencies. In conjunction with sales issues, social security problems are being resolved, and the actions of various organizations, including ours, are coordinated. We ensure that all transaction formalities are completed in order to facilitate the purchase process and make it transparent and understandable to the buyer.
The procedure for obtaining Turkish citizenship takes place in several stages and takes a period of 4 to 6 months, depending on the particular case. The Turkish government seeks to facilitate this procedure and reduce the processing time as much as possible after a detailed study of a specific case. Thus, accredited organizations take on the whole routine.
Conditions for obtaining Turkish citizenship when buying property in Turkey:
The price of one property exceeds 250 thousand dollars, or several units of real estate are purchased for this amount. The amount is paid by the buyer by bank transfer through a Turkish bank directly to the owner.
The buyer leaves a deposit in the real estate register, signing a paper stating that he will not sell his property within three years after his purchase.
The whole procedure can be divided into several simple steps from point A to point B.
1. Property Valuation
There are quite a lot of accredited Turkish companies that deal with property valuation. A list of these centers is available in government departments specializing in citizenship, as the company checks the property and evaluates it based on market data for the same period. As mentioned above, the purchase amount should be or exceed $ 250,000. The evaluation period usually does not exceed three months, during which the application for citizenship is submitted, but if it exceeds three months, the investor must re-conduct the assessment.
2. Getting TAPU
The buyer registers his property with the Land Department in order to obtain a tax number, and then goes to the Department for legal registration and certification of real estate. Property will be sold only after three years from the date of registration.
3. Sending documents to the Turkish Citizenship Center
The buyer must transfer personal documents through specialized offices and confirm their authenticity at the notary’s office, and then transfer them to the main office in Ankara. We want to note that the Turkish government seeks to open branches of organizations that facilitate the delivery of these documents to other regions.
4. General procedures
The government provides the applicant with an electronic link for obtaining Turkish citizenship, by which you can track which stage the citizenship registration process is currently undergoing. Information can also be obtained by phone, learn about the process of transferring your case from one department to another. The final point - the signing of the document by the President of the Republic - this will be confirmation of your Turkish citizenship. A new citizen is issued a Turkish identity card, confirming all his rights and obligations to the state. Turkish citizenship allows its holder visa-free entry to 77 countries of the world in addition to all the privileges of a Turkish citizen related to education, health, social protection and many others.
If you are interested in the opportunity to purchase housing in Turkey, you can always contact our specialists to find the best housing and detailed information. You can find our offer of real estate in Turkey here.
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