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Turkish citizenship by real estate investment

08 June 2022

Turkey is a place where modern life meets the Muslim lifestyle. Due to the unique geographic location, this country lies partly in Asia and partly in Europe. So it acts as a barrier and bridge between two continents. Many businesses believe this is a distinct advantage, as Turkey gives easy access to major energy resources and strategically important areas.

Turkey boasts one of the fastest-growing economies worldwide. So what is there to talk about if such multinational companies as Coca-Cola, Microsoft, or Intel have selected Turkey to locate their strategic regional headquarters at this place. More than half of the world’s global trade takes place within a few hours from Turkey.

Turkish citizenship by real estate investment — Migronis

Being one of the G-20 countries, Turkey provides an investor-friendly environment. It also gives an opportunity to acquire Turkish citizenship and get Turkish passport through real estate route. In fact, most foreign entrepreneurs choose this option because of its high profitability. The prices in the Turkish real estate market grow by 15 or 25% each year, and over the past two years, the cost of apartments has doubled. This means that your property could be profitably sold after three years, and you still remain a Turkish citizen.

So what are the conditions?

According to the Turkey Citizenship by Investment Program and Turkish law, you or other foreign investors can receive Turkish citizenship for real estate investments for at least $250,000 in the Turkish economy.

Turkish real estate market

The Turkish real estate market is thriving. Only in 2021, the prices soared by 30.6%, according to the Central Bank of the Republic of Turkey. The number of home sales has also risen, as the Turkish Statistical Institute states. To be sure that you buy a property with high return potential, learn more about the area where this real estate is located, find out the number of tourists was there last year, consult a migration lawyer, such as Migronis, and just ask yourself: “Could it really bring an influx of tourists? Do I want to live here?”

The decline of the Turkish Lira may seem a good reason for foreign investors’ real estate ownership in Turkey. The fall of the Turkish Lira is bad news for those who have their earnings only in Turkish lira. However, the same is quite the opposite for investors who can take advantage of the low currency exchange rate. Turkish President Recep Tayyip Erdogan believes that this decline will lead to a decrease in inflation and an increase in the importance of Turkish exports, which, in turn, will positively reflect on the Turkish economy.

Requirements for real estate investment

Turkish real estate is an excellent investment in your future. As tourism in Turkey booms, buying a home here is like a promise to generate handsome rental income. And this is the reason why investors worldwide are flocking to purchase at least a small plot of land.

You also can use this Turkish property by yourself. Only imagine, you have top-notch real estate with a view of the Bosphorus and Turkish citizenship on top of all this! Sounds great, does it?

CITIZENSHIP-BY-INVESTMENTS PRESENTATION

 

Download presentation to know everything about Turkey CBI Program

 

Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis
Turkish citizenship by real estate investment — Migronis

How to get a Turkish Passport by buying property

First of all, an applicant should purchase real estate for at least $250,000. This does not need to be a single unit. You are welcome to obtain multiple properties if you want.

Next, an applicant should hold a property for at least 3 years. This commission should be mentioned as an annotation to the Notarized Sales Contract or Title Deed.

Then an applicant should pass an Official Evaluation Survey undertaken by authorities. The valuation report should specify that the property was bought for at least $250,000.

The purchase price should be paid via a bank transfer. It also needs to be supported by bank receipts.

The official declared value of the investment must be noted in the Notarized Sales Contract made at the Land Registry Office.

It is important that this property should not be registered under your spouse, children, or other relatives.

If an applicant uses a mortgage loan in order to purchase a residence, the value of the mortgage will be deducted from the value stated by the Official Evaluation Survey.

In the end, your application will be sent to the Ministry of Internal Affairs, as well as the Directorate of Foreign Affairs and General Directorate of Population and Citizenship.

Real estate boom in Turkey: over 134,000 houses sold in a month!

  1. According to the Institute of Statistics in Turkey, 320,063 houses and apartments were sold in the first quarter of 2022.
  2. While Istanbul appeared to be a TOP choice, Ankara ranked second, and Izmir closed the leading trio.
  3. Among the buyers are people from all over the world.
  4. According to experts, housing will rise in price due to a surge in sales. And this makes the program for obtaining Turkish Citizenship by Investment even more relevant and attractive.

Want to know more?

Step-by-Step Application Process of real estate investment for Turkish citizenship

Step 1. Get a Tax Registration Number

Tax Registration Number can be obtained in any tax office, however, only in Turkey. Take a passport and photos with yourself.

Step 2. Find one or multiple properties

The minimum investment is $250,000. The property must have a Habitation License and a Title Deed or Construction Servitude. No less important is the fact that your property should pass an Official Evaluation Survey.

Step 3. Buy the property

In order to be qualified for a Turkish investment program, you need to use a Bank Transfer and get a receipt after this transaction is completed. You need to have a Notarize Sales Contract and a Title Deed Registry with the annotation “Not to be sold for three years.”

Step 4. Get the Certificate of Conformity

After providing an Official Evaluation Survey and a Bank Transfer Receipt, you are welcome to apply to the Ministry of Environment and Urbanization.

Step 5. Apply for Turkish residency

Collect all the required documents and apply to the Directorate General of Migration Management.

Step 6. Apply for a Turkey citizenship and a Turkish passport

Before applying for your residence permit, collect all documents required for Turkey Citizenship by Investment.

Turkey’s economy has been steadily growing. It has had an average YOY GDP growth rate of 3.84% in the past years

Seems catchy? Then talk with our expert and learn how to get a Turkish passport

Required documents

Here is a list of all the documents you need for your Turkish Citizenship by Investment Program:

  1. Birth certificate
  2. Completed Application Form
  3. Certificate of Residence
  4. Health insurance
  5. A copy of the original passport
  6. Power of Attorney granted
  7. Spouse’s Death Certificate (if you are a widower or a widow)
  8. Biometric photos
  9. Original and notarized translation of all documents in Turkish
  10. Certificate of permanent residence permit
  11. Marital status
  12. Divorce certificate and marriage certificate. Both should be stamped and authenticated

Чтобы получить ВНЖ и паспорт Португалии нужно собрать объёмный, но стандартный список документов

Relocate to Turkey — Elevate your global business stature

  1. Turkey — one of the best destinations for foreign entrepreneurs willing to invest and expand their business abroad. The main allure of this country is its strategic location between Europe and Asia. Istanbul is the only city that is spread over 2 continents. This place is commonly seen as the stepping stone to Central Asia and the Middle East
  2. According to the World Bank’s 2020 Ease of Doing Business Survey, Turkey presented itself well in such factors as protecting minority investors, enforcing contracts, or registering properties
  3. In Turkey, you can develop a business and benefit from lower costs and lower wages, as compared to other European countries
  4. The procedures for opening a company are simpler, and it is possible that a Turkish lawyer can handle all the process in just a few days
  5. Flexible business environment, including customs-related exemptions and benefits

Fees and Costs

Obtaining Turkish citizenship through the real estate route is worth $250,000. The benefit of a Turkish Citizenship by Investment Program is that you can actually buy any plot of land, house, commercial facilities, apartment, or share in a real estate project and get a Turkish passport in the end. The most important rule is — Your foreign direct investment should be worth at least $250,000.

Benefits of Turkey citizenship

  1. Social guarantees.
    It is important that Turkish citizens can study at universities or receive qualified medical care for free
  2. The prospect of becoming a citizen of the EuropeanUnion.
    In the case of Turkey’s accession to the European Union, Turkey citizens will possess a wealth of benefits, such as increased global mobility
  3. Convenient conditions for getting a Turkey citizenship.
    If you want to obtain citizenship in this country, you do not need to pass any language tests, learn Turkish language, or take exams in the history of the country
  4. Strategic location.
    Turkey can be called a bridge between the East and West. This country is among the largest in the region where much of the world’s political and economic power is concentrated. This unique location provides certain leverages for international influence.
  5. Fast application process.
    The wait for Turkey citizenship commonly takes only a few months so that you can get your Turkish passport as quickly as possible
  6. Relocation to the US or UK.
    Due to the treaty agreement between Turkey and USA, E-1 and E-2 Investor Visas, the whole procedure of coming to the States is simplified. Furthermore, Turkish businesspeople have the option of a special business visa for the UK.
  7. Dual citizenship and the possibility to possess dual nationality.
    Retain your first citizenship and get the new one
  8. Include your family members.
    Include dependent parents or children up to 21 years under the one Turkish citizenship application. Spouses are also qualified
  9. Residency not required.
    There is no requirement to reside in the country, even for a short period of time
  10. Return of investment.
    The holding period for property investment is three years. After that period, you can resell your real estate property or hold it for 5 years to avoid capital gains tax
  11. Return of investment.
    After buying the property, you can rent it and benefit from annual yields of up to 8%
  12. Wide range of investment options.
    Pick your preferred investment option among 6 routes.
  13. Pass your Turkish citizenship.
    Turkey citizenship can be inherited by your children
  14. Thriving real estate market with a high level of yield.
    According to one of the Big Four accounting firms,
    Ernst & Young, Turkey has the second most attractive real estate market
  15. Possibility to buy real estate for cryptocurrency.
    It is always convenient to do business deals in crypto (if you have any), and an opportunity to do so is highly valued. And if you wonder
    where to invest cryptocurrency or how to buy real estate with cryptocurrency, then reach this article
  16. Favorable business conditions.
    Turkey is favorable to investors from other countries, and this is evident due to the affordable currency and foreign investor-friendly legislative framework
  17. Visa-free travel.
    Turkish passport gives visa-free travel to
    110+ countries. Although this is not the main advantage of Turkey citizenship, this level of freedom may be highly appreciated by people from Iraq or Iran who have access only to 26 destinations. In fact, you would have visa-free access to many important business and tourist hubs.

Visa-free travel to 110 countries

The validity of a Turkish E2 Visa is 5 years

At the same time, other eligible nationalities, Egyptians or Jordanians, get a 1-year, single entry E2 visa.

Interested in getting the same long-term beneficial opportunities?

Other ways to obtain Turkish citizenship

If you are not sure about obtaining Turkish citizenship by real estate investment, you can consider other options in which this country is rich. All investments can be made in USD or equivalent foreign currency.

  1. Set up a company and employ at least 50 people
  2. Make a capital investment
  3. Purchase at least $500,000 in securities and hold the investment for three years
  4. Make a bank deposit of at least $500,000 in a Turkish bank account and keep it for a certain period (three years)
  5. Invest at least $500,00 in a real estate investment fund share and keep it for at least three years

Frequently Asked Questions

How much do you need to invest in getting Turkish citizenship?

The minimum investment to obtain Turkish citizenship is $250,000, and this only goes for purchasing real estate, as other options require making bigger donations.

Can you get Turkish citizenship if you buy a house?

Acquiring Turkish citizenship involves buying any real estate object for $250,000 as one of the options. This can be a plot of land, a house, or an apartment.

Do I need to declare my financial status to Turkish authorities?

No, you don't need to provide any data regarding your existing assets to Turkish tax authorities.

Can I live in Turkey if I buy a property?

Buying property is one of the best options for those who want to obtain Turkish citizenship with the help of the investment program.

How long can you stay in Turkey if you own a property?

If you acquire real estate for at least $250,000 in Turkey, you would be eligible to obtain citizenship and become a Turkish national in this country. Turkish citizenship means that you can live in Turkey all the time.

Unlock your freedom and create your personal world without borders!

If you would like to know more about how you can get a second citizenship, you need to contact us today and book a free consultation with our second citizenship expert

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