TURKISH CITIZENSHIP BY PROPERTY INVESTMENT

According to the law that went into effect on September 19, 2018, foreigners who purchase a property worth at least 400,000 USD can apply for Turkish citizenship. So, if you’re a foreigner interested in becoming a Turkish citizen, the first step is to buy a property that meets the 400,000 USD minimum value. There are specific guidelines to be aware of when purchasing property as a foreigner. You can purchase multiple properties, but they must be bought together, and the total value must be more than USD 400,000.

In addition, multiple foreigners can purchase one property so long as each person’s share is worth at least USD 400,000. One of the most critical steps in this process is the valuation report. The valuation report is a document that must be created by specialists who are licensed and approved by the capital market board. This report determines if the acquired property is valued at the amount specified in the regulation (USD 400,000). The validity period for the valuation report is up to three months before the purchase date of the property. If the foreign buyer has an attorney, the validation report can apply by the Attorney/Law Firm.

Specialists licensed and authorized by the capital market board will determine whether the acquired property is equal to the amount specified in the regulation (USD 400.000). Once the title deed, valuation report, and payment receipts money exchange letter are obtained, the foreign buyer or his/her attorney can make the written promise (not to sell the property for 3 years) in the Land and Registry office. After the promise is made, the department of foreign affairs will send ‘’the investment conformity document’’ to the foreign person’s or his/her attorney’s e-mail address. and then the investor will be able to apply for Turkish citizenship.