Steps to buy a property and obtain Turkish citizenship 2023

Buying a property in order to obtain Turkish citizenship in 2023 has become a dream for many foreign investors seeking, generally speaking, to benefit from investing in Turkey, and to obtain a second passport in particular.

Occasionally, the Turkish government announces new amendments to exceptional citizenship. The latest was in December 2022. Accordingly, Properties Gate Real Estate, through this article, reveals to you the steps of buying a property that is compatible with the new provisions of the Nationality Law 2023.

Why buy a property in Turkey?

Strength of the Turkish Economy

Buying a property in Turkey is a safe way to protect your money from inflation. Indeed, you are investing in a country that has proven record of the strength of its economy, even at the peak of crises. That is actually supported by several important sectors, on top of which is the diversified and developed real estate sector.

Strong Infrastructure & Stunning Nature

In Turkey, projects and residential complexes enjoy a strong infrastructure, modern architecture, and building foundations in line with international standards. That includes different cities and provinces blessed with a picturesque nature, moderate climate, long history, and a kind and loving people.

Government Support & Investment Incentives

The support and investment incentives provided by the Turkish government to foreign investors, through which it supports the real estate sector, is a strong incentive to increase the demand for real estate investment in Turkey.

Issuance of real estate residence

Buying a property in Istanbul at a value of $75,000, and in any other state at a value of $50,000, grants you the opportunity to obtain a one-year renewable real estate residence permit. Thus, ensuring that you remain legally within Turkish territory.

Obtaining Turkish Citizenship

Perhaps one of the most important advantages of buying a property in Turkey is obtaining Turkish citizenship. Consequently, the Turkish passport, that is according to specific conditions related to the price and nature of the property, as well as the purchase procedures.

Steps to buy a property and obtain Turkish citizenship 2023

According to the recent amendments to the Nationality Law, effective as of 1/1/2023, buying a property that qualifies you for exceptional Turkish citizenship is according to the following steps:

1- Buying a property or more for $400,000

The property that complies with the conditions for citizenship must have value of not less than 400,000 US dollars. That is, with the possibility of purchasing more than one property with the declared value in the same project, or more than one project. However, it must comply to the conditions announced in the amendments to the Turkish Nationality Law 2023.

2- Transferring the value of the property to the Central Bank of Turkey

Through your bank account, the value of the property is transferred from the dollar to the Turkish lira, so that the bank in turn sells the foreign currency to the Central Bank of Turkey. That is, supported by a document stating that the reason for the currency conversion is to obtain citizenship through real estate ownership.

3- Forwarding Money Transfer Transaction by E-mail

According to the recent amendments to the Naturalization Law, applicable from the beginning of January 2023, the money transfer transaction is to be forwarded to the Land Registry Directorate via a registered email.

4- Submit a request to the Land Registry Department

At this stage, it is required to submit an application to the Real Estate Registry Directorate “Tabu Directorate”, including the real estate appraisal document that is being sent to the Turkish Ministry of Environment and Urban Planning. That is mainly to prove that the real estate unit owned by the investor is suitable for Turkish citizenship.

After confirming that the property has a value of at least $400,000, the Ministry of Environment and Urban Planning sends an official request to the Land Registry Department to suspend the sale of the property for a period of 3 years

5- Issuance of Turkish citizenship

The citizenship file is sent to the General Directorate of Population to ensure that it complies with the conditions for obtaining citizenship by investment. Accordingly, approval is issued to grant the investor Turkish citizenship.

Documents Required to Obtain Turkish Citizenship in 2023

• Passport
• Birth certificate
• Title deed
• Real estate appraisal document
• Transaction receipt for transferring the value of the property to the Central Bank of Turkey.
• Transaction receipt for transferring the value of the property from the buyer’s account to the seller’s account.

 

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New Provisions for Nationality by Real Estate Investment Law 2023

As mentioned above, the Turkish government announced new provisions in the Turkish citizenship law by real estate investment, on December 19, 2022, applicable as of January 1^st, 2023, as follows:

First – the nature of the property

• Approval of applications for citizenship under the promise-to-sale contracts attested by the notary public; Real estate with floor ownership.
• Rights registered in the tapu in the timeshare system are not approved for obtaining citizenship by real estate investment.

Second – the number of properties

There is no limit to the number of properties through which you can obtain Turkish citizenship, subject to the following factors:

• Notary public contracts used in citizenship should not exceed one contract. This contract may include more than one apartment, commercial store or other real estate, provided that it includes the price of each real estate separately.
• It is possible to apply for citizenship with more than one Tapu in separate projects.
• It is not possible to apply for citizenship with a Tapu + a notary contract; as they cannot be combined.
• Citizenship applications based on a sale promise contract; Payment of the price equal to the aforementioned amount (400,000 US dollars at least) must not be later than the date of the sale promise contract as a maximum.

Third – Real Estate Appraisal Report

• It is sufficient for the real estate appraisal report to exceed $400,000 USD required by the regulations, according to the date of ownership.
• The valuation report includes two values; The current value and the value upon completion. The value upon completion is approved in projects that are still under construction and that have a floor easement, and if construction has not yet begun; The value at the date of the report will be used.
• The validity of the evaluation reports included in the application is a maximum of 3 months from the date of their preparation. In fact, new report will not be requested in the transactions submitted within this period.
• The evaluation report sent via Web-Tapu is based on the effective currency rate in the Central Bank of Turkey on the last working day preceding the date of the report.

Fourth – Currency Purchase Report

• Forwarding the report of the purchase of the currency that was transferred to the Central Bank of Turkey, to the Directorate of Land Registry, via a registered e-mail.
• If the request for citizenship is through a contract of promise to sell, the currency purchase certificates are used to determine the amount. This must be completed until the day of the contract as a maximum.

Fifth – Real Estate Unsuitable for Turkish Citizenship

• It is not possible to obtain citizenship by purchasing a property registered in the Land Registry Department in the name of one of the buyer’s first-degree relatives (blood or kinship), regardless if they were foreigners or Turks.
• Turkish citizenship is not granted on real estate purchased by the seller – even if he is Turkish – from a foreign person during the last three years.
• A foreigner who holds Turkish citizenship through any type of investment cannot sell a property to another foreigner in order to obtain citizenship.
• It is not possible to obtain Turkish citizenship by purchasing a property owned by a company whose members are relatives of the client, or by obtaining Turkish citizenship through investment.
• Citizenship is not granted on real estate registered in the Land Registry Directorate in the names of persons who obtained the exceptional Turkish citizenship, regardless of whether this property is sold or bought afterwards.

It is worth noting that the aforementioned new conditions exclude real estate whose title deed has been handed over and the notary contract has been completed until 12/31/2022.

In conclusion

In order to invest safely and choose the right property for you, we recommend that you seek the help of a real estate consultant who will put in your hands a wide range of options that are compatible with the conditions for obtaining Turkish citizenship 2023. Indeed, real estate that are suitable for your needs and your price plan, so that you can choose what suits you better.

We at Properties Gate have a group of real estate opportunities that are compatible with obtaining Turkish citizenship by purchasing a property and issuing a Turkish passport. All you have to do is contact us directly so that we can advise the appropriate options with your preferences and budgets.

Call now!

Edited by: Properties Gate^©

Source: Tabu Directorate