Turkish Citizenship By Property Purchase
Article Published: 27 Nov, 2019, Updated: 14 Dec, 2021 under Golden Visa
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.
- 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
- 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,
- Employing at least 50 employees and for whom a certificate of conformity is issued by the Ministry of Family, Labor and Social Services,
- 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
- 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
- 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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1Who is this Service for?
Introduced by Turkish Law 5091, the Golden Visa programme in Turkey offers applicants the option of obtaining a 5 year residency visa or indeed Turkish citizenship upon making a suitable investment as described in the legislation.
The most popular qualification route is the purchase of property valued at $250,000 (without a mortgage).The visa permits the holder to enter and exit Turkey as and when they wish, without any requirement to spend a minimum period of time in the country. Other investment options include:
- Fixed capital investment of at least $500.000
- Own a business employing at least 50 employees
- Deposit $500,000 in a Turkish-based bank and keep the money there for at least 3 years
- Purchase public borrowing instruments with a value at least $500.000
- Invest $500,000 in a real estate investment fund for a period of at least 3 years
- Main applicant must be over 18 years of age
- Valid passport
- Valid Birth Certificate
- Suitable private health insurance
- No criminal record in Spain or in country of Origin
- Evidence of having made one of the approved investments
- Expedited Process (much simpler than other visa application processes)
- Goldent Visa holder may leave and return to Turkeyas often as they wish without restriction
- This visa confers a right to both live and work in Turkey
- Longer residency approved initially with less renewal requirements
- Ability to bring your family
If buying land to build your own house, it is vital to check the records to determine whether it complies with agricultural regulations. An advance-fixing certificate is required to prevent the division of agricultural lands.
Also, it is a common practice by property sellers to advertise the price of a property at a lower rate than the actual price (to lower their tax liability).
To avoid the problems that this could cause to your residency/citizenship application, your legal representative can obtain an independent report on the true value of the property from the local Council and then use this documented valuation in order to support your application for Turkish citizenship.
5What does this service consist of?
- An initial discussion with lawyers highly experienced in making successful applications for a Golden Visa
- An application for visa by property purchase is prepared, and all other documents required for a successful application are assembled under the guidance of your lawyer
- Your lawyer makes the application to the appropriate governmental bodies, on your behalf, in the correct time-frame
- You will be informed of the success of the application
- Once approved, your lawyer will assist you to collect your residency card
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When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include:
- Verification of the regulatory status of your professional.
- Fees as recommended by the Local Professional Body
- Fees specified in advance and legally guaranteed.
- Service levels agreed in advance and guaranteed.
- All professionals must hold professional indemnity insurance.
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