What is the naturalization law in Turkey and obtaining Turkish citizenship in return for buying a property?
The Turkish nationality law has captured the attention of many investors around the world. Many investors did not hesitate to go through this experience, which does not contain any kind of risk or risk. There is no financial loss in the matter at all, but rather it is a type of investment. Security
What is the naturalization law in Turkey?
It is the law issued on 11/02/2010, and its amendments issued in 2018, according to which it was approved to grant Turkish citizenship to anyone who invests in Turkey with one of the types of investment, which includes:
- Real estate ownership: by owning a real estate in Turkey with a minimum value of $250,000, provided that the property is not sold for three years.
- Bank deposit: by depositing the equivalent of a minimum of 500 thousand US dollars in a Turkish bank for a period of three years
- Employment of Turkish citizens: by employing at least 50 Turks
- Purchase of government bonds: with a minimum amount of $500,000
Obtaining Turkish citizenship in return for buying a property
The number of those who obtained the real estate conformity document from 2017 until the beginning of 2020 amounted to about: 6 thousand and 694 foreign citizens, and the aforementioned conformity document is the first stage for obtaining Turkish citizenship in exchange for real estate ownership in Turkey
First: conditions that must be met in the property
In the case of real estate investment, Turkish law stipulates that the property must meet some conditions for those who wish to obtain Turkish citizenship in return for owning a property, which are:
- The value of the property should be 250 thousand US dollars or its equivalent in the Turkish currency, according to the exchange rate
- Register the property legally in the Tabu Department, whether this property is ready or under construction
- The value of the property must be paid through a regular bank transfer
- The property must be purchased from a Turkish person or a Turkish construction company
- It is also required to obtain a real estate appraisal report from a real estate appraisal company accredited by the Turkish government
Second: Conditions that must be met by the real estate buyer
- That the buyer of the property be from one of the nationalities that fall under the nationality decision in return for owning a property, as the naturalization law in Turkey included all nationalities except for some specific nationalities, including: North Korea and Syria
- Turkish citizenship is granted to the property owner, his wife and children under the age of 18
- The buyer is obligated not to sell the property for a period of 3 years from the date of purchase
