Becoming a Turkish Citizen Through Real Estate Investment

Turkey stands as a remarkable nation strategically situated between Asia and Europe, serving as a natural bridge connecting these two continents. Here, you encounter a distinctive and harmonious fusion of contemporary living and Islamic traditions. The Turkish economy is rapidly advancing, hosting the headquarters of numerous global corporations. Additionally, Turkey actively encourages foreign investments and has introduced the option of obtaining Turkish citizenship through real estate investments.

Many have taken this opportunity to invest in the Turkish real estate market and acquired doubled profits since the prices of properties in Turkey are rising yearly.

In today’s blog, The Guide Real Estate tells you about the step-by-step process of becoming a Turkish citizen through real estate investment.

How to Obtain Turkey Citizenship by Real Estate Investment?

Turkish citizenship can be legally obtained in many ways:

• By marriage
• By birth
• By investing in Turkey, etc.
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However, we will look at how you can buy a property in Turkey and get citizenship.

To qualify for Turkish citizenship through real estate investment, a minimum investment of USD 400,000 in real estate is required, with a commitment not to sell the property for three years. The investment can be made in a single unit valued at USD 400,000 or in multiple units totaling this amount. Under the Türkiye Citizenship by Investment Program, applicants have the opportunity to secure citizenship not only for themselves but also for their spouse and children under 18.

This citizenship initiative, inaugurated in January 2017, has played a pivotal role in fostering substantial growth and progress within the real estate sector. Following the property acquisition, authorities conduct a valuation assessment to verify that the property's value meets the USD 400,000 threshold. It is essential to ensure that the property is fully paid for through a bank transaction, supported by receipts as evidence.

Additionally, it is imperative that the property be registered under the applicant's name, and the official value of the property must be explicitly stated in the Notarized Sales Contract. Subsequently, the completed application undergoes processing by relevant authorities, including the Ministry of Internal Affairs and the Directorate of Foreign Affairs, to facilitate the final stages of the citizenship acquisition process.

What Is the Process of Applying for Turkish Citizenship by Real Estate Investment?

Here is what you need to know before investing in Turkey:

• Obtain a Tax Registration Number from the Tax office by presenting your passport and a set of photographs.

• Initiate the process of opening a bank account.

• Identify a property valued at a minimum of USD 400,000, ensuring it successfully passes the Evaluation Survey.

• Qualify for the program by executing the property transaction through the bank and retaining the corresponding receipt.

• Include an annotation stipulating a three-year non-sale clause in conjunction with the Title Deed.

• Secure the "Certificate of Conformity" by applying to the Ministry of Environment and Urbanization.

• Compile essential documents to apply for a renewable residency permit from the Directorate General of Migration Management.

• Conclude the process by submitting the necessary documents and residency permit to the General Directorate of Population and Citizenship Affairs for the Turkish citizenship application.

• The submitted application and documents undergo thorough scrutiny by the relevant authorities. Upon confirmation of the applicant's eligibility for Turkish citizenship, the process culminates with the official approval, marked by the signature of the President of Turkey, Recep Tayyip Erdogan, on the application.

Further Reading: Is Buying Property in Turkey a Good Investment?

How Long Is the Processing Time?

The process of obtaining Turkish citizenship is efficiently streamlined, typically concluding within three to four months of submitting the application. Following the approval, the issuance of your Turkish identification and passport can be expected within a week or shortly thereafter.

Do I Need to Live in Turkey When the Application Process Takes Place?

Physical presence in Turkey is not a prerequisite to kickstart the application process. By engaging the services of a legal representative and conferring them with a Power of Attorney (POA), you empower them to handle every aspect of the process. From account establishment to securing your residence permit and conducting property transactions on your behalf, the appointed lawyers will adeptly navigate each step.

What Are the Benefits of Having a Turkish Citizenship?

For those seeking Turkish citizenship and a passport through property investment, the options are versatile. Whether it's land, an apartment, commercial property, a house, or any other form of real estate, the investment should hold a minimum value of USD 400,000 to meet the eligibility criteria.

Here are some of the upsides of having Turkish citizenship:

• Experience parity in rights alongside Turkish citizens.

• Access complimentary, high-quality healthcare services.

• Secure the right to reside in Turkey indefinitely.

• Enjoy the liberty to engage in work and business activities within Turkey.

• Attain citizenship without the complexities of prolonged waiting periods and the need for intricate language courses and exams.

• Retain the option for dual citizenship, preserving your original home country's citizenship.

• Enter a remarkably diverse real estate market, reaping the benefits of substantial investment returns.

• Obtain an E-2 investor visa with a validity period of five years.

• Capitalize on the opportunity to explore an array of visa-free countries with your Turkish passport, including destinations like Hong Kong, Japan, and more.

Further Reading: Buy Property in Turkey and Get Citizenship

How Can The Guide Real Estate Help You Buy a House in Turkey and Get Citizenship?

Turkey is garnering growing acclaim for its upscale and fully equipped holiday residences and residential complexes, as evidenced by the substantial figure of 1,491,856 residential property sales recorded in 2021.

For those aspiring to acquire a home in Turkey with the added benefit of citizenship, The Guide Real Estate stands ready to assist. Our commitment to transparency is unwavering as we strive to empower our clients. We believe in providing comprehensive information and guidance, equipping our clients with the insights they need to make astute and lucrative real estate investments.

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Our after-sales services handle rentals, resale, property furnishing, and maintenance. 

Get a free consultation with our professionals so we can cater to your needs in the best way possible.

Conclusion

Overall, obtaining Turkish citizenship through real estate investment is a swift and straightforward process, offering numerous advantages. Foreigners are encouraged to explore the local market and contemplate investing in Turkey to capitalize on these benefits.

Contact us if you want to know more about The Guide Real Estate’s services. 

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