Getting Turkish Citizenship By Investment
All foreigners who are allowed to buy property in Turkey by Turkish law, may apply for Turkish citizenship by investment. It’s essential to deposit such amount to banks that operate in Turkey. Therefore, it is not possible to assume an amount as convenient for the Turkish law firm citizenship application which is deposited to a bank in abroad even if it is a branch office or association of Turkish Bank. Particular purpose report from a certified public accountant shall be required for making a fixed capital investment of a minimum $500,000.
In case the applicant completed the purchasing transactions before obtaining a real estate value assessment report, the date of real estate value assessment report should be same with the date of purchase. Our Turkish Citizenship with Bank Deposit Lawyers perform legal services for making an investment and getting a conformity certificate for the investment to apply for Turkish citizenship. Two copies of the power of attorney for the application for citizenship, granted by the investor to the legal team to submit the citizenship file, and follow up with the official departments. The agency is organized by the notary public in Turkey and at an estimated cost of 600 to 700 Turkish liras per copy.
Questions About Turkish Citizenship
Foreigners should project the approval to the Ministry within 2 years. If the project is not submitted or determined to submit by Ministry within 2 years or the property is used contrary to the purpose of acquisition, the price will be returned to the related person. The declaration of the values and appraisal values should be consistent with one another at the sales, in Property Registry Office.
Our company provides a comprehensive citizenship application program where the consultancy is provided for this. You do not have to live in Turkey for a certain period of time for citizenship applications. During this period, you can continue to live abroad and apply for citizenship as soon as you receive a residence permit. The spouse and children below 18 years old of the applicant who applied for Turkish citizenship by investment can acquire Turkish citizenship within the same time. While buying a property with the purpose of acquiring Turkish citizenship, one should tell title deed officers that the aim of the purchase is to acquire Turkish citizenship, so that title deed officers put gloss to prevent selling this property for 3 years.
Citizenship By Investment
The entire document checklist is no longer than one page, while the entire process can be done remotely by appointing a firm to act on your behalf. Another important point is that the investment is extremely safe, and if you choose to invest in real estate you have a tangible asset that is naturally risk-averse. In addition, the minimum needed for the transition to the real price of real estate with foreign citizenship in Turkey withdrew 250 thousand US dollars to 1 million dollars. Representatives of the construction sector demanded the reduction of this figure. Buying at least 500,000 USD or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years. Joint owned property/multiple property application is possible.
Many foreigners who wish to stay and live in Turkey apply for Turkish citizenship. From this link, current status of citizenship application will be checked. The main applicant can make all the transactions from the bank account after bank account opening. As a result, the names of the buyer and seller and the information about the paid real estate Turkish resident permit should be clearly visible in the receipt stating that the sale price of the real estate has been paid. Citizenship and immigration law is a legal system that regulates issues related to citizenship of individuals. With numerous “Citizenship by investment” programs around, it can be more confounding to pick the correct option under reliable cost.
The USD-denominated value of real estate in the valuation reports is calculated based on the Turkey Central Bank’s effective and / or cross exchange rates on the date of transaction. Foreigners who are found to meet the conditions specified in the secondary regulation must continue to have these conditions for the period of three years. Monitoring and determination of this issue shall be carried out by the competent Ministry or the Authority. If the person does not have date of birth, the document obtained from the competent authorities of his country for the completion of his date of birth.
This can be done on the same day; once again you don’t need to wait for an appointment. After the applications the process for citizenship is carried out at the Citizenship Information Offices in Ankara or Istanbul. Investors who have bought real-estate worth a million dollars and higher are also exempted from displaying the bank receipt when applying for the Turkish citizenship regardless of who the selling party is.
Reach Us For Turkish Citizenship With 250000 Usd Property Purchase
Turkey decreased the minimum requirement for Turkish Citizenship through real estate investment down to USD 250,000 on September 19th, 2018. Previously the required amount for real estate purchase was 1 million USD. The reason for easing the conditions of citizenship is Turkey’s need of foreign capital. After decreasing the requirement Foreign housing investment jumped 82% in the first quarter of 2019. It is obligatory for foreigners who will stay in Turkey for more than ninety days or the period granted by the visa or visa exemption to obtain a residence permit. In Turkish law, there are many different residence permits according to the reasons of arrival and stay in Turkey.
Turkey encourages foreigners to apply for citizenship by investment program. Citizenship can be acquired by purchasing real estate worth 250,000 US Dollars or more and having an annotation that it will not be sold for 3 years from the title deed registry. While this amount was 1 million US Dollars in the previous regulation, it has been reduced to 250,000 Dollars with the new regulation, which is in favor of those who want to acquire citizenship by purchasing real estate. And this means that this kind of sales cannot be done especially in houses and flats sales when the floor/ story easement or multi-story ownership and possession right is not transferred yet.
The real estate route is particularly attractive for investors. This requires a property purchase of a minimum of $250,000 + fees, making Turkey one of the lowest cost citizenship by investment programmes on the market. The real estate investment amount was originally set at $1 million but was drastically reduced in September 2018. Potential buyers and investors who buy a real estate, worth minimum of $250,000 with a title deed restriction on its resale for at least three years, can apply for Turkish citizenship.
If it is not available, the signed declaration of acceptance of the transaction pursuant to the Law on the Civil Registration Services No. 5490. Enacted In 2003 with the introduction of “Foreign Direct Investment Law” the number of foreign investments and companies in Turkey continues to increase. Foreigners who make direct investments can benefit equally with domestic investors from the all incentives. In addition, foreigners who have long-term and direct investments can benefit from the facilities offered by the Turkish Government. As a result of the agreements made in 2018, Turkish passport is a passport that allows visa-free entry to 72 countries, visa entry to 42 countries at the border and online entry to 7 countries.
The United States of America is home to many immigration routes, from its illustrious lottery, the expensive EB5 visa, and the difficult-to-get H1 visas. None of these are simple to obtain, and the EB5 is certainly not financially viable for many. Turkey is working on obtaining visa-free access to the Schengen Area for its nationals, which would make their passport one of the best in the world.
But after a change in the regulation, this figure was reduced to 250 thousand dollars. After the reduction of the figure, it was revealed that in the last 2 years, 7,312 foreign citizens received citizenship of the Republic of Turkey by buying property for 250 thousand dollars. • Investors are required to purchase a property in Turkey which is worth a minimum of $250,000. Alternati vely, this can also be achieved by investing in multiple properties which reach the same amount of investment. We observe that foreigners who come to our office and want to apply for citizenship over the real estate they have bought, suffer from mismanagement.
The passports of the father and mother and two personal photos of them are presented, then they sign the papers. At this stage, the investor must go to the Chamber of Commerce. There is a room dedicated to foreign investors in order to deliver the file by hand or exclusively through a lawyer who delivers the file and signs it.
Even if you live in a country which does not allow dual citizenship or secondary citizenship, Turkey has a Turkuaz Card programme. Turkuaz card gives you full citizenship rights except voting in Turkey. We talked about the simplicity of the process of the Turkish CIP, but even when going into greater detail the clarity of the program remains impressive.
The amount should be convertible and should be equivalent to $500,000. A foreigner who applies for Turkish citizenship by way of investment should first obtain short term residence permit. Normally, in order to make a short-term residence permit application, the foreigner should enter Turkey with a valid visa, or by benefiting from a visa exemption. Our Turkish Citizenship Lawyers do perform Turkish citizenship services with investment options. We have successfully represented clients from Iran, Palestine, Jordan, Lebanon, Morocco, Egypt, Tunis, Libya, Pakistan, Bangladesh, India, Hong Kong, Macao, China, Djibouti, Macedonia, USA and we know how to get required paperwork done in each country.
We are going to dwell on the Turkish law “On Citizenship” and other relevant matters. The person who creates employment for at least 50 people in Turkey acquires citizenship through investment. In the previous regulation, employment for 100 people was required. Apply to the Provincial Directorate of Immigration Administration of the settlement. Apply to the Provincial Directorate of Census and Citizenship of the settlement.
The assessment of the property that you own will be made by the authorized Government agency and its worth has to be not less than US$ 250,000 at the time when the assessment is made. Apply to the Ministry of the Environment and Urban Development for a conformity certificate. The initial application form will contain personal data of the applicant including his/ her contact information. Completion of this document presupposes granting Turkish authorities access to the applicant’s personal information. Investment of at least US$ 500,000 into an investment fund or a venture fund.
However, it is important to be synchronous for the validity of your application. Similarly, the value submitted to the Directorate of Land Registry and Cadastre must exceed $250,000 in order for the application to be valid. Get Turkish citizenship within only 60 days and enjoy all the advantages that come staying permit turkey with it. As a naturalized Turkish citizen, an investor seeking to start a business in the UK or the USA would enhance chances to do so and be able to consider relocation along with their entire family. The easiest and fastest option is to become a Turkish citizen by purchasing a property worth $250,000.
Akkas & Associates Law Firm is a globally recognized Turkish citizenship law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish citizenship lawyers are prepared to answer Top 20 Questions about Turkish Citizenship and handle real estate acquisitions to get Turkish citizenship. Our investment for Turkish citizenship practice includes; buying, leasing, and selling residential and commercial properties to both domestic and foreign customers in Turkey. Our Turkish real estate lawyers also represent our clients in real property acquisition, we prepare real estate sale contracts or amend the contracts that are prepared by the developers. We also represent our clients throughout Turkish citizenship application process until they get their Turkish passport. Our Turkish citizenship lawyersare prepared to handle real estate acquisitions to get Turkish citizenship.
There is no restriction on the type of immovables to be acquired Properties subject to sale/promise to sell contracts for citizenship application can only be purchased from Turkish person/companies. More than one real estate can be purchased with a total value of at least 250,000 USD. The Ministry accepts citizenship an application if the sum of the values declared to the General Directorate of Land Registry and Cadastre is over USD 250,000. The experienced team of Diyar Turk Real Estate will be with you from the beginning to the end of the process from the first time you decide to obtain Turkish citizenship through investment. In this process, we will be with you to find your dream home at the most affordable price and the most convenient location.
Also we do take care of the required post-sales services for buyers and investors who are not willing to get involved in post-sales cares, chargeable based on the queries. All nationalities who is able to purchase property in Turkey, law firm istanbul may apply for Turkish citizenship by property investment. Ministry will have to make sure that the value of real estate is minumun $250,000. Property valuation companies verify the correct price in order to prevent from price fraud.