Buying Property in Turkey and Getting Residency

You may be considering taking advantage of the opportunity offered by the Turkish government of buying property in Turkey and getting residency – a possibility where the property is worth at least 250.000 dollars and which you have purchased after 18.9.2018. 

The details of the process are contained in Article 12 of the Turkish Citizenship Law No. 5901 of which allows foreign investors to acquire Turkish citizenship on exceptional terms; Presidential Decree No 106, dated 18.09.2018 in respect of new arrangements being made regarding the amounts mentioned in the Article 20 of the Regulation on the Implementation of the aforementioned Law.

Within this scope, the foreign investors who fulfill the conditions below may now apply for a Turkish citizenship. The conditions for buying property in Turkey and getting residency are as follows.

 

  1. Investing in  real property at least 250.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and attached annotation at land registration not to sell this property for three years and for whom a certificate of conformity is issued by the Ministry of Environment and Urbanization
  2. Fixed capital investment of at least 500.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and for whom certificate of conformity is issued by the Ministry of Industry and Technology,
  3. Employing at least 50 employees and for whom a certificate of conformity is issued by the Ministry of Family, Labor and Social Services,
  4. Investing at least 500.000 US dollars or its equivalent in foreign currency or equivalent amount of Turkish Lira and make commitment to hold the amount on deposit for three years at banks operating in Turkey and for whom a certificate of conformity is issued by the Banking Regulation and Supervision Agency
  5. Purchasing public borrowing instruments with a value at least 500.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and make commitment to hold these instruments for three years and for whom certificate of conformity is issued by the Ministry of Treasury and Finance
  6. Purchasing a real estate investment fund participation share or venture capital investment fund participation in the amount of at least 500.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira and make commitment to hold these participation shares for three-years and for whom a certificate of conformity is issued by the Capital Market Boards

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