Turkish Citizenship through Real Estate Investment
Turkey in the field of home conditions required to apply for citizenship to foreigners
As it is known, in the related Regulation, it is possible to gain Turkish citizenship exceptionally for the real persons who are foreign nationals determined by the Ministry of Environment and Urbanization, provided that they have not been sold for three years in the immovable title deed records of at least 1.000.000 USD
In this context;
In the applications for the acquisition of the immovable through sale in order to benefit from the said regulation, the valuation report showing the market value prepared by the appraisal expert with a valid license, approved by the CMB, is sought in order to determine the amount stated in the said article.
Market value of the real estate appraisal report shows located in amounts based on the real / US dollar denominated value of real property, the date of the transaction is calculated based on effective selling rate of the Central Bank of Turkey. In the event that more than one immovable property is acquired by the same person whose value corresponds to or exceeds the value stated in the relevant article, provided that the regulation is amended between the date of 12.01.2017 and the effective date of this instruction, the price calculated on the effective sales rate of the price in the official deed of each immovable value.
Foreign real person who purchased the immovable in the official deed; “Within the scope of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, it has promised not to sell these immovables acquired for the purpose of acquiring Turkish citizenship” and “The registration of the immovable within the scope of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law within three years from the date of acquisition” and the declarations section; “Within the scope of Article 20 of the Regulation on the Application of the Turkish Citizenship Law, there is a commitment that it will not be sold within three years from the date of acquisition.” is specified.
In the event that the owners of the immovables that are not stated that they will not be sold for 3 years with the commitment stated in the above article in the official document and which are purchased between the date of 12.01.2017 and the date of entry into force of this directive which is the effective date of the Regulation, the registration request document of the related person shall be declared. and ine There is a commitment that the real estate will not be sold within three years from the date of Acquisition within the scope of Article 20 of the Regulation on the Application of the Turkish Citizenship Law. ”.
If the same person has made a request for more than one immovable whose value is equal to or higher than the amount stated in the relevant article, with the same date and journal number “Within the scope of Article 20 of the Regulation on the Application of the Turkish Citizenship Law, there is a commitment that it will not be sold within three years from the date of acquisition” is required.
Interest (b) For the immovable / immovable acquired within the range of 12.01.2017 as of the date of the amendment of the Regulation and the date of entry into force of this instruction, the condition that it shall be purchased with the same journal shall not be required.
Within the scope of the said Regulation, after the expiry of the three-year period specified in the declaration entered into the statements, In case of the cancellation is requested by the owner within 3 years from the date of the declaration, it is checked from the MERNIS records whether the person has gained Turkish citizenship;
If the owner is registered as a Turkish citizen in the system, the request shall be rejected and the specification shall be maintained until the end of the three-year period.
In the event that it is not registered, whether the comment will be abandoned from the General Directorate of Population and Citizenship Affairs shall be questioned and the procedures shall be directed according to the answer to be received.
Foreclosures on immovables acquired in this manner, measure v. It is possible to obtain in-kind rights with the establishment of annotations and if the immovable property changes hands without the consent of the owner for various reasons within three years, the General Directorate of Population and Citizenship Affairs shall be notified immediately.
The valuation reports submitted in relation to the demands under this Directive should be related to the year in which the transaction is performed and the revaluation rate announced by the Ministry of Finance shall be applied to the reports submitted at the end of the year if the procedures regarding the ongoing applications are not completed in the application year.
If the amount in the immovable valuation report, which is the basis of the sales transactions within the scope of this Instruction, is lower than the value of the real estate tax determined by the municipalities for the year of acquisition according to the provisions of the Real Estate Tax Law no.
Following completion of the transaction, the title deed register containing the identification shall be submitted to the person concerned.