In the last four years, the Turkish real estate market has developed and activated for foreign investments. Real estate experts explain this wide demand for buying apartments in Turkey as a result of Pass a law granting Turkish citizenship for those who buy a property in Turkey In the amount of 250.000 Dollar. This law was issued on 18/9/2018.
It is worth mentioning, the decision to grant Turkish citizenship to foreign investors is considered one of the government actions that contribute to facilitating procedures for foreign investors. These actions would get more foreign investment to the turkey. Which contributes to the development and growth of the economy.
Property Investment
Real estate investment in Turkey is one of the most prominent, safe and successful types of investments. The Turkish real estate market records an increase in annual profits.
The prices of apartments in Turkey are suitable for all budgets.
Where you can buy a cheap apartment in Istanbul for 50 thousand dollars in a strategic location within a luxury compound.
Furthermore, you could buy an apartment in Istanbul for 250.000 dollars in the city center and get Turkish citizenship.
Conditions For Obtaining Turkish Citizenship
To get Turkish citizenship by property investment you have to know these conditions.
A pledge not to sell the property for three years, after this period you can resell your property if you want.
At this time, you can rent your property.
You can’t sell your property for a buyer of your nationality, for example, if you are British, you can’t sell your property to a British investor.
Frequently Asked Questions About Turkish Citizenship
• When can I apply for citizenship by buying a property in Turkey?
The application must be submitted immediately after purchasing the property, with all required documents attached to the application.
Can my family apply for citizenship based on my ownership of the property?
The investor’s wife/ husband and children under the age of 18 have the right to apply for citizenship within the same investor’s application. Children over the age of 18 can only obtain citizenship if they suffer from disabilities and the investor is the only person who takes care of them.
Is the investor obligated to buy a specific type or location of the property?
The investor is not bound by a specific location or type of property, he can buy a property in any Turkish city. It is worth noting in this context that most investors buy properties in Istanbul due to the importance of this city. Istanbul is considered the tourists and economic capital of turkey.
Is the property bequeathed to the legal heirs after death?
The property is inherited and transferred to the legal heirs after death.
Do I have the right to sell the property after obtaining citizenship?
The investor is not entitled to sell the property until after three years and the pledge not to sell the property after three years must be included in the title deed.
Is it required that the property be ready for habitation?
You can buy a property in Turkey that is under construction or ready to move.
Should I reside in Turkey after submitting the application?
The investor can leave Turkey after submitting an application for citizenship. But he must be present later to take his fingerprint, in order to receive his Turkish identity.
Is it possible to resell the property to the first owner?
The investor can’t resell his property to the first owner. The holder of Turkish citizenship can resell the property to anyone except the first property owner. If this happens, this may lead to the withdrawal of Turkish citizenship from the investor.
Homes and Beyond Group for property Investment offers you its advisory and legal services to help you obtain Turkish citizenship by owning a property in Turkey.
Contact us to get all information and to know the necessary steps to obtain Turkish citizenshipthrough buying a property.
