Demand on the real estate market in Istanbul has reached its highest levels in the last few months. In a matter of fact, official data stated by the Turkish Statistical institute Turk Sat showed that an increase of 134.4 % has been noticed in October 2018 compared to the same period of last year. This high demand has boosted especially after the new regulation regarding obtaining Turkish citizenship through real estate investment that was started in September 2018. In fact, according to Turk Sat, a total of 30.431 housing units were purchased by foreigners between October and January. Here is a detailed overview of how to get your citizenship and purchase your dream house at the same time!
In accordance with the Law amendment that has come into effect in 2018, foreigners who purchase a property with at least 250,000 USD can acquire Turkish Citizenship. The first step for a foreigner willing to become a Turkish Citizen is to purchase a property with a minimum value of USD 250.000. There are certain points to be considered when purchasing the property.
Property’s tax excluded price must be at least 250,000 USD.
All immovables properties, like an apartment, villa, land, hotels, farms… etc. are eligible for citizenship according to this regulation.
Even though the payment is made in the dollar, the price of the property will be written in Turkish Lira on the title deed. The exchange rate will be adopted according to the current day’s effective selling rate of the official Turkish Central Bank.
The property must be purchased from a Turkish person or Turkish company established in the country. It will not be acceptable to buy properties purchased from foreigners.
The payment will not be accepted if it was made in cash. It must be from a bank to bank transfer. If the foreign buyer has a bank account in a Turkish bank, he/she can make the transfer from that account too.
You can purchase multiple properties provided that he/she purchase them together and the total value of the properties must worth more than USD 250.000.
One of the most important parts of this process is the valuation report. The valuation report is required to be prepared by specialists who are licensed and authorized by the capital market board, in order to determine whether the acquired property is equal to the amount specified in the regulation.
Turkish citizenship will be given to the owner of the property (you), your spouse, and your children under 18 years old.
Once the title deed (Tapu, an official document stating the owner of the property), valuation report, and receipts of the payment is obtained, you or your attorney can make the written promise (not to sell the property for 3 years) in the Land and Registry office. After the promise is made, the department of foreign affairs will send ‘’the title deed conformity document’’ to your or your attorney’s email address.
You Got Your House, Now to Get Citizenship
There is one more document that needs to be obtained before starting to fill the first application form: the health insurance policy. You must have health insurance which is valid in Turkey. As the insurance period should cover the period of residence time required, the health insurance must be valid for at least one year. The health insurance should be supplied from Turkey. In case you have an attorney, the health insurance will be provided by the Attorney/Law Firm.
After submitting the required documents to the authorities on the residence permit appointment, the acquisition of the Turkish citizenship process officially begins. The residence permit card will be prepared within a week and after receiving the card, you will fill up the Turkish Citizenship Application form from the official website of the government. In case you do not have an attorney, you must attend to the Turkish Citizenship Acquisition appointment once again at the foreigner citizenship application office with additional requested documents.
The required documents for the application of Turkish Citizenship are as following;
Passport, passport copy and notarized translation
Civil status certificate as; marriage certificate, divorce certificate or the spouse's death certificate,
Birth certificate showing the applicant’s identification information and birth certificate or certificate of identity register of spouses and children under 18 years old
In case there is a child in the custody of one of the parents and is asked to acquire Turkish citizenship together with the parent, the document indicating the consent of approval of the other parent prepared by the competent authorities of their country or prepared by a notary in Turkey,
2 biometrical photos (also required on a CD)
Service fee receipt
Briefly, you should provide the following documents to your attorney;
If you are married, spouse’s and children’s birth certificates with an apostille and notarized Turkish translation prepared by the authorities of his/her county of residence.
Civil status certificate; marriage certificate with an apostille and notarized Turkish translation prepared by the authorities of his/her county of residence.