Turkish Nationality Law 2022 | New Modifications & Terms

The government’s announcement of the amendments to the Turkish Citizenship Law 2022 raised many questions from foreign investors, especially in relation to real estate ownership, or investing by depositing funds in Turkish banks to obtain nationality.

Simultaneously, this has coincided at a time when the Turkish real estate market is witnessing a huge turnout by foreign investors. In adition to the subsequent recovery of the national economy. So what are the new conditions for obtaining Turkish citizenship?

The answer to this question is provided to you in this report. We will explain in detail everything related to the recent amendments to the Nationality Law 2022.

 

Amendments to the Turkish Nationality Law 2022

On January 6, 2022, Turkish President Recep Tayyip Erdogan approved the government’s request to implement some amendments to the law granting Turkish citizenship by investment, as per an official statement announced by the General Directorate of TABU.

The new clause in the Turkish Nationality Law 2022

In a statement dated 21st January 2022, the General Directorate of Tabu clarified that obtaining citizenship by investment occurs after the foreign investor transfers the investment amount into Turkish lira in the bank where the account was opened. The bank, in turn, sells the foreign currency to the Central Bank of Turkey.

The statement indicated that the intermediary bank registers the foreign client’s data (name, passport number, Turkish residence number, if any), indicating the purpose of the transfer, namely  obtaining Turkish citizenship by purchasing a property.

The statement emphasized that the buyer has no right to request a withdrawal from the sale of foreign currency, after the investment amount has been transferred to the Central Bank.

What category is excluded from the amendments to the Nationality Law 2022?

The statement of the Real Estate Survey Directorate indicates that the amendments to the Citizenship Law 2022 excluded investors who paid the value of the property, that meets the conditions for obtaining Turkish citizenship, even if one day before the decree was issued.

Documents Required for Citizenship in Turkey 2022

According to the recent amendments, completing the file of naturalization through real estate investment includes the following papers and procedures:

• Submit a document from the intermediary bank, proving the transfer of the amount to the Central Bank of Turkey.
• Submit a receipt proving the transfer of the amount in Turkish lira from the buyer’s account to the seller’s account.
• The process of transferring the value of the property from the buyer’s account to the seller’s account, through the intermediary bank that transferred the foreign currency to the central bank.

This is in addition to the following papers and documents:

• A copy of the property’s title deed
• Real Estate Appraisal Report
• Passport translated and certified by a notary public (Noter)
• Birth certificate translated and notarized.

 

New provisions in the law on Citizenship through real estate investment

In March 2021, the Tabu Directorate published amended provisions on the executive regulations related to obtaining citizenship by purchasing a property in Turkey. These are as follows:

1. The property should not be registered in the title deed (Tabu) in the name of a real foreign person, including the investor’s wife and children.
2. The property has not been transferred by the investor or any foreigner holding his nationality to a Turkish person or company after the date 07/12/2017.
3. The property must not be registered in the name of a company’s legal personality, in which the foreign investor, his wife or children are managers or partners.
4. The property should not be registered in the name of a company’s legal personality of a foreign company, one of the partners in which is of the same nationality as the foreign investor applying for citizenship by purchasing a property.
5. The property must not have been previously owned for the purpose of obtaining citizenship.
6. If the property is sold to its first owner again, after 3 years of obtainingTurkish citizenship, the Real Estate Survey Directorate shall investigate the matter. That is to ensure that the sale was made apart from the prior arrangement. If proven otherwise; The investor will undergo retroactive withdrawal of citizenship.

 

Obtaining Turkish Citizenship through Exceptional Means

It is worth mentioning that the recent amendments to the Turkish Nationality Law 2022 apply to those wishing to obtain citizenship by exceptional means, according to the legislation issued in mid-2019, which includes:

• The foreigner obtains Turkish citizenship after purchasing a property worth 250,000 US dollars, provided that it is not sold within a period of 3 years.
• The foreigner obtains citizenship by depositing 500,000 US dollars in Turkish banks.
• A fixed investment of 500,000 dollars in return for obtaining Turkish citizenship.

 

Accordingly, foreign investors seeking to obtain Turkish citizenship through one of the aforementioned methods must sell the investment amount, in foreign currency, to the Central Bank of Turkey through one of the intermediary banks.

Consequently, the central bank keeps the liras sold from dollars or other foreign currencies, in a Turkish bank. Otherwise, those liras are  kept in one of the Turkish public debt administrations, for a period of no less than 3 years.

 

Editing: Properties Gate Real Estate©

Source: Al Jazeera + Anadolu Agency + Tabu Directorate