Acquisition Of Citizenship Through Real Estate In Turkey
By law, adopted in 2017, foreigners could receive citizenship of the Republic of Turkey, if they buy a house 1 million dollars worth and keep in the hands for 3 years,. This amount decreased to 250 thousand dollars with the change made in 2018. As such, The number of foreigners turning to house purchases to have Turkish citizenship has increased. So, what are the considerations that foreigners buying house from Turkey should pay attention to?
-After the preliminary application, the day is determined for the transfer of the real estate.
- Application documents must be ready on the designated day.
- Certificate of ownership of real estate
- Passport and photocopy of the foreigner who will buy (with approved Turkish translation)
-Certificate of fair value of Real Estate " to be obtained from the municipality where the property is located”
- Compulsory earthquake insurance policy for housing and workplaces
-1 photo of the person selling (white background, biometric)
- 2 photos of the buying stranger (white background, biometric)
- Sworn translator if the foreign buying does not speak Turkish
- Original or approved copy of the power of attorney in case of transfer operations with a proxy (approved Turkish translation if arranged abroad)
- Title deed fee (determined by the value of the House.)
- Revolving fund fee
- Cost of service to be paid to the land registry office
- It should be noted that there are no restrictions such as mortgages, foreclosures, injunctions in real estate.
- A preliminary application must be made to the land registry offices for transfer operations.
- The transfer of real estate is possible with the official promissory note and registration signed in the land registry offices.
- Residence permit is not required to purchase real estate.
Note: Instead of the US dollar requested as a monetary condition, the foreign currency or the Turkish Lira equivalent of the same value is sufficient to meet this condition. The determination of this monetary requirement is based on the effective sales rate and/or cross exchange rate of the Central Bank of the Republic of Turkey (CBRT) at the date of determination.