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.
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.
Identity Document or Passport
Identity document or passport indicating the foreign country of origin (along with translation when necessary) must be submitted.
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.
Necessary if there is any party that does not speak Turkish (Must be authorized by the regional judicial commission)