Turkish Citizenship By Investment Program 250 000 Usd
Besides, we will connect you with a reliable immigration agent in Turkey who will help you fill out all the documents correctly and file the application for citizenship on your behalf. Turkey is a unitary presidential republic with the population of more than 80 million people. The official language in the country is Turkish and the national currency is the Turkish lira.
Historically speaking, real estate in Istanbul doubles its value within 5-10 years. So if you’re looking to buy, rent, and hold for the long-term, this is the perfect option to gain another passport. There is no pre-approval of properties as you’d get with other CBI programs where the real estate is usually overvalued. Some of this overpriced inventory was sold to people from the Middle East who had a lot of wealth but mediocre passports.
Turkey Citizenship By Investment
A foreign national natural person can purchase a maximum of 30 hectares of immovable property throughout the country and acquire limited in rem rights. As outlined above foreigners shall reside in Turkey legally for longer than five years to become eligible for Turkish citizenship applications. Alternatively, foreigners who reside in Turkey for longer than eight years also become eligible to obtain an indefinite term residence permit if they do not wish to switch to Turkish citizenship. Such valid longer term stay in Turkey could be achieved with different methods. Generally, it takes 3-4 months to get a Turkish citizenship application accepted. Once your application is accepted, you can apply for Turkish ID card and passport and get your fingerprints at Turkish Embassy in your country, you don’t have to come to Turkey at all.
After that, the property will be reserved for a period of three years, in order not to sell it and in order to obtain Turkish citizenship. The property habitation license must be granted and the title deed should be ready. The value of the property must be at least 250K USD in the valuation report. Buy the property by using bank transfer and get a receipt of the transaction. You do not have to wait 3 years to apply for the citizenship, because one of the conditions stipulated in the “Regulation” is to buy a real state in Turkey and annotating a sale ban in the land registry. And this is why adding the annotation of sale ban for 3 years in the real estate registry fulfills the legal requirements.
Stages Of Getting Turkish Citizenship By Investment
Reducing the deposit requirement in Turkish banks from 3 million US dollars to 500 thousand US dollars. Buying a property in Turkey from a Turkish citizen or from a Turkish company. Issuance of the decision of granting the Turkish citizenship to you as well as your family. The renewal process is simple and the passport can be renewed without undue burden.
With the power of attorney, bank account opening, real estate acquisition, residence permit application and Turkish citizenship application can be made without the need for the main applicant and his/her family to be in Turkey. All the processes of real estate acquisition, bank account opening, residence permit application and citizenship application are carried out by lawyers authorized by the main applicant and his wife with the power of attorney. Efforts to lure foreign investment have reached to a new level with the launch law firm turkey of citizenship by investment program in January 2017. The program offers a variety of investment vehicles to choose from, including real property, bank deposit, sovereign bonds, real estate investment funds and venture capital funds . The last decision about foreign investors acquiring the right to Turkish citizenship was made in 2018. According to this, the process has been further facilitated by reducing the amount of investment that foreign investors must make in order to gain citizenship from $1,000,000 to $250,000.
Yes, but you have to wait at least 3 years before you sell your property. You must write an official promise in the title deed stating that you commit not to buy the property before 3 years. The foreign buyer’s spouse and children under the age of 18 will acquire Turkish Citizenship automatically once the main applicant in the family becomes Turkish Citizen.
1- First of all, a real estate must be purchased for over 250,000 USD where flat ownership-construction servitude applies. We’re a professional real estate agent and property developer, offering property in Istanbul and in other places in Turkey. If one of these conditions is met, an application can be made in accordance with the law in order to gain Turkish Citizenship. Our company, which provides consultancy services for application procedures, is with you so as not to be overwhelmed in the details of the legislation.
If you are thinking about investing in Turkey and living here, a Turkish passport will give you many advantages. You will not have to constantly carry your residence permit around with you and you will also benefit from tax advantages and incentives. When selling real estate, you must pay sales tax – 2% of the value of the property from the seller and the buyer. A child will receive Turkish citizenship if at least one of his parents is a Turkish citizen, in this case, the country of birth is irrelevant.
Only one person can apply for Turkish citizenship, his/her spouse and dependents are also eligible with this application. Turkish law does not recognize same-sex marriages, polygamy and other types of partnerships. So a spouse should be a person of opposite sex and the couple should be legally married.
We have filed several citizenship applications with property purchase and many for bank deposit. Real Estate Appraisal Companies included in the Real Estate Appraisal Companies list of Capital Markets Board of Turkey verify whether the value of the real estate declared at land registry office is more than 250,000 USD or not. The Ministry requests from TKGM the creation of an annotation as “cannot be sold for three years”.
There is other official paperwork that will be prepared by your lawyer and will attached with the application file. Turkey is positioned 95% in Asia and 5% in Europe in land area. It is important to understand Turkey is not a EU member state and not a member of Schengen area, but participates in the EU customs union. Turkey has been an applicant to accede to the EU since 1987, but since 2016 accession negotiations have stalled. The followers of Iraq were Iran with 469 house sales, Russia with 212 house sales, Kuwait with 159 house sales and Germany with 149 house sales.
A real estate value assessment report which shows the real value of the real estate shall be required for purchasing a real estate investment. New regime has brought the option to purchase real estate in installments provided that a real estate property should be purchased after September 19, 2018 and each installment should be Turkish citizenship 250.000 USD made after September 19, 2018. The amounts paid as an installment before September 19, 2018 shall not be taken into consideration. The foreign currency amounts of the installments shall be determined based on the currency exchange rate of the Turkish Central Bank at the date of transactions regarding purchasing a real estate.
Besides you will get paid back in Turkish Liras even if you have the payment in other currencies. In normal cases developers will have one price list which is same for Turkish people and foreigners. This is important for keeping a good Turkish resident permit reputation also for the developers. If your first wife gets Turkish citizenship, then the second wife becomes eligible to apply. • Applicant’s spouse and children who are less than 18 years old will also be granted Turkish Citizenship.