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Invest 250,000 USD in Real Estate and

become a Turkish citizen

Foreign Investors May Invest 250.000 USD in Real Estate and Acquire Turkish Citizenship

With the amendment made to the Regulations Regarding the Implementation of Turkish Citizenship Law, Foreigners now may acquire Turkish citizenship through the exceptional means of purchasing real estate worth at least USD 250.000 or equivalent thereof in foreign currency or in Turkish Lira starting from the date 18.09.2018

Purchasing Real Estate Worth at Least 250.000 USD

In case of purchase of real estate(s) worth 250.000 USD and an undertaking of not selling the same for 3 years, or in case of agreement, which is issued before the notary public in a manner to include promise of sale for a real estate along with the undertaking of no transfer and cancellation for 3 years, then a “Certificate of Eligibility” will be issued by the General Directorate of Land Registry and Cadastre as a document to be relied upon for citizenship request.

Number of Real Estate

There is no limitation on the number of real estate to be acquired through sale or subject to the promise of sale. If the foreign person buys more than one real estate at the same time or at different times, the total value of these real estate(s) must be worth 250.000 USD and the buyer must undertake not to sale any of them for 3 years.

Legal Limitations

Total area of real estates that may be acquired by a natural person of foreign origin throughout the country is maximum 30 ( thirty ) hectares and nor more than 10% of the correcponding township area. Real estates located in military forbidden and security zones are designated in the registry records, and land registry directorates provide due information. The real estate intended for acquisition must not be located in areas determined as military forbidden and security zones or in other areas, where acquisition by foreign natural persons is forbidden. If the real estate intended for acquisition is included in a “Special Security Zone”, authorization is required from the governorship of the place, where the real estate is located. Natural persons of foreign origin and the incorporated companies established in foreign countries under the laws of their own countries are develop a project in relation with the unbuilt land they bought within two years and such project to be developed is to be submitted to the relevant Ministry for approval.

3 Year Of Non-Sale Commitment

The contract held from notary public that property ownership or construction servitude agrenment with a title deed selling or cancelation restriction on resale for at least three years, the anount of sale of the real estate deposited in advance as attested by the Ministry of Environment and Urbanization may acquire Turkish citizenship based on the resolution of the President of the Republic of Turkey.

Nature of Real Estate

There is no limitations on Properties of real estate to be acquired through sale (housing, business, Land, field, garden, etc.) however However, under the Circular No. 2013/15 (1752); if foreign persons acquiring an agricultural land , a commitment to obtain pre-permits within the scope of agricultural legislation and to submit an agricultural project within 2 years, and for land-qualified non-built Real Estate, a commitment to submit a construction/building license project to the relevant municipalities or institutions within 2 years are required. In case there is are a shareholders of real estate it is necessary to issue the official note by adding “That I'm aware of the existence of the legal pre-purchase right of other shareholders” and to explain this matter to the parties.

Real Estate Valuation Report

In the scope of regulation and depending of the date of the Real Estate acquisition 1.000.000 USD or 250.000 USD in order to benefit from the determination of the value, a Real Estate Valuation Report showing the market value (current market value/current state value) is requared. The valuation reports submitted during the application are valid for 3 months from the date they are issued and no new reports will be required for the transactions applied during this period.

REQUIRED DOCUMENTS

Identity Document or Passport

Identity document or passport indicating the foreign country of origin (along with translation when necessary) must be submitted.

Photo

1 passport size photo of the seller 2 of the purchaser will be sought.

Document Regarding Representation if The Procedure İnvolves Representation

Power of attorney, court order regarding guardian, letter of authorization etc. (If the transaction will take place based on a power of attorney issued abroad, original or certified copy of the power of attorney is to be submitted as accompanied by the translation).

Foreigner ID No

In case Foreigner ID No does not exist, Land Registry Directorate will ensure allocation thereof during application.

Title Deed for the Real Estate Sale

Required if it exists

Valuation Report for the Real Estate

To be received from the firms authorized for valuation as licensed by the CMB (Capital Market Board) as published on the official website of CMB

Bank-Certified Receipts Evidencing Money Transfer

May be presented before or after the sale

Compulsory Earthquake İnsurance Policy

Necessary for buildings such as residences, workplaces etc.

Certified İnterpreter

Necessary if there is any party that does not speak Turkish (Must be authorized by the regional judicial commission)

SALE PROCEDURE FOR NATURAL PERSON

Value of Property

Seller agrees to sell and the Buyer undertakes to purchase a Property. This real estate(s) must be worth 250.000 USD or relevant amount in turkish liras

Valuation Report

Real Estate Valuation Report to be received from organizations listen on the relevant internet pages of the The Capital Markets Board (CMB)’s (http://www.spk.gov.tr/SiteApps/SirketIletisim/List/gds) or “Turkish Appraisers Association (TDUB)“ (http://www.tdub.org.tr/Web/CompanyListForm.aspx?UID=a11d0b04-de56-4ab0-9bb8-7c2c8863ba92)

Application

Land Registry Directorate is applied with the necessary documents.

Eligibility With Directing

Land Regisrty Directorate undertakos an examination and checks whether the receipt, valuation report and the declared values meet the criteria sought in the regulations or not.

Title Deed Fees

If the necessary conditions are met, the parties concerned are informed by SMS about the land registry fee andcirculating capital charge payable fort he procedure. Once the fees are paid, appointment time is notified by SMS so that the contract will be signed.

Title Deed Delivery

Once the signatures are affixed and the contracts are concluded, a statement is entered into the registry of the real estate to the effect that it will not be sold for three years and the title deed.

Application For Citizenship

Once the procedure is complete, land registry directorate sends the procedure documents to the General Directorate/Regional Directorate through the system so that the “certificate of eligibility” will be issued for citizenship application.

Formal Letter

Once the necessary checks are performed, the “Certificate of Eligibility” issued is sent to the Provincial Directorate of Civil Registration and Citizenship Affairs and General Directorate of Migration Management for due action by an official letter and it is sent to the parties concerned by e-mail.

Why Turkey?

YOUNG AND DYNAMIC

More than 23 urban centers, each with populations of over 1 million, support Turkey’s thriving domestic market through their production of goods and services. In terms of population, Istanbul is the largest city in Europe.​

INTERNATIONAL MARKETS

With an eye-catching 10 percent average annual growth in exports, Turkey has outpaced the world performance and increased its export volume from USD 36 billion to USD 168 billion over the past 16 years. 

STRATEGIC LOCATION

Turkey offers easy access to 1.5 billion people and a combined market worth of USD 24 trillion GDP in Europe, MENA, and Central Asia within a 4-hour flight radius. Turkey’s strategic location enables easy reach to markets across 16 different time zones, from Tokyo to New York.

FEEL FREE TO CONTACT US

Antalya - Turkey

+90 (242) 324 34 20

info@grandemlak.com

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