The New Legal Arrangement on Turkish Citizenship by Real Estate Investment

The Turkish Government is planning to increase the minimum required value of real estate purchases in order to apply for a Turkish Citizenship by foreign citizens. The new legal arrangement changes which was discussed in a Presidential Cabinet meeting held on 12.04.2021 increase the total value of purchased real estate in Turkey a foreigner must purchase to apply for a Turkish Citizenship from 250.000 $ to 400.000 $.

400.000 $ Will be the New Lower Limit for Turkish Citizenship by Investment

400.000 $ Will be the New Lower Limit for Turkish Citizenship by Investment

Since 2018 buying a single real estate or a group of real estate worth 250.000 $ was adequate to qualify for applying for a Turkish Citizenship. However, a new regulation is on the way to increase this amount to 400.000 $. Foreign country citizens will be required to purchase a real estate in Turkey or multiple real estates with a total value of 400.000 $ from now on in order to be eligible for a Turkish Citizenship by Investment.

The legal arrangement and the changes it is bringing to the real estate business was discussed in the Presidential Cabinet meeting held on 12.04.2022 and it will be in effect when published in the  Official Gazette of the Republic of Turkey.

The Property Purchased Cannot Be Sold for 3 Years

The new legal arrangement also regulates when the purchased real estate can be sold. A foreign citizen will only be able to apply for a Turkish Citizenship if the purchased real estate(s) has a deed restriction for 3 years. In other words, if foreign citizens want to purchase real estate(s) in order to apply for a Turkish Citizenship, they will not be able to sell it for 3 years. Only foreigners who officialized this commitment with a notary will be able to apply for a Turkish Citizenship. This commitment will not be transferred or canceled for 3 years.

 

Frequently Asked Questions About the New Legal Arrangement

1- Q: Is it necessary to purchase only one real estate in Turkey valued 400.000 $ or can I purchase more than properties valued at this amount?

    A: No, it is not necessary to purchase a single real estate with that value. You can also purchase multiple properties valued 400.000 $ or more. However, all applications must be made at the same time.

 

2- Q: I have purchased properties valued at 400.000 $ before this regulation. Can I also apply for a Turkish Citizenship by Investment?

    A: No, you cannot. If the properties are purchased between 12.01.2017-18.09.2018, the total value of these properties must at least be 1.000.000 $ in order to apply for citizenship. For properties purchased between 19.09.2018-13.06.2022, this total value must at least be 250.000 $. Finally, the necessary minimum value of a property purchased after 13.06.2022 must be 400.000 $ in order to apply for a Turkish Citizenship.

 

3- Q: I purchased a real estate for 400.000 $ with a bank loan so there is a mortgage on the title deed by the bank. Is it possible for me to apply for a Turkish Citizenship with a mortgage deed?

    A: If a real estate is purchased using a bank/mortgage loan or is subject to a mortgage, the value of that property is calculated by deducting the remaining portion of the mortgage. The resulting value from this deduction will be counted as the final value of that property and it will be used for determining whether you can apply for a Turkish Citizenship or not.

 

4- Q: I have purchased a real estate valued at 400.000 $ and completed the title deed (TAPU) transfer. However, I did not have a 3 years deed restriction put on the title put on the deed. I did not know I should do it in order to apply for a Turkish Citizenship. What should I do in this case?

    A: If there is a demand for a deed registration on real estate whose acquisition process has been completed, a registration request document can be issued by the investor/owner to the Land Registry Directorate and the necessary deed restrictions can be put on the real estate.

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