In recent years, Turkey has implemented various measures to attract international investors and boost the real estate market. One of the most significant initiatives in this context is the Turkish law that allows foreign investors to acquire Turkish citizenship under certain conditions.
This possibility has become a significant instrument, especially through the acquisition of real estate in Turkey. The following article provides a detailed explanation of how real estate purchases can lead to obtaining Turkish citizenship and the legal framework that needs to be considered.
Legal Foundation
The fundamental regulation states that foreigners who purchase a property worth at least 400,000 USD and commit to holding the property for at least three years can apply for Turkish citizenship. This applies both to individuals and to the applicant’s family members.
Requirements for Acquiring Citizenship
To obtain Turkish citizenship through the purchase of real estate, several requirements must be met:
- Property Value: The property must have a minimum value of 400,000 USD. This value is converted into Turkish Lira at the time of purchase and must be confirmed by a valuation from an accredited appraisal company.
- Commitment to Retain: The buyer must commit to retaining the property for at least three years.
- Compliance with Regulations: The purchase must be in accordance with Turkish regulations. This includes, among other things, the payment of all necessary taxes and fees, as well as adherence to legal requirements for foreign real estate acquisition.
- Legal Review: The applicant must undergo a comprehensive security screening conducted by Turkish authorities to ensure that the applicant does not pose a security risk.
Application for Citizenship
Once all the aforementioned requirements are met, the applicant can submit an application for Turkish citizenship. This is usually done directly with the relevant authorities in Turkey. The application includes the submission of various documents, including:
- Proof of property purchase and commitment to retention
- Proof of payment of the required property tax
- Personal documents such as passport, birth certificate, and possibly a health certificate
Advantages and Challenges
Acquiring Turkish citizenship through real estate purchase offers numerous advantages. These include the possibility of living and working in Turkey, access to the Turkish health and education systems.
However, there are also challenges. The process can be complex and time-consuming, particularly regarding the verification of property valuation and compliance with all legal regulations. To facilitate this process as much as possible, it is recommended to consult a lawyer specializing in Turkish citizenship law.
Investors should seek thorough legal advice before purchasing property and applying for citizenship to make an informed decision and successfully navigate the entire process.
