Are you interested to apply for Turkey citizenship by investment through real estate? What are the options you can avail of to be eligible for citizenship? Learn how much you need to invest as well as the other types of properties you can purchase.
How to Avail Turkey Citizenship by Investment Through Real Estate
In 2016, the Turkish government launched citizenship by investment program for foreigners. It grants foreign investors the residency and citizenship status given they meet the investment threshold.
Furthermore, it also grants foreigners a second passport and other privileges exclusive to Turkish citizens. Let us uncover how much you should invest to apply for Turkey citizenship by investment and what types of real estate properties you can purchase.
To apply for Turkey citizenship by investment, you need to invest at least $250,000 in real estate. This is also known as investing in an immovable property. You’re also required to keep the property for at least three years after you’re granted citizenship. This means you must not sell the property until the three-year requirement is met. Here is the process you need to undergo to purchase a real estate property successfully:
Obtaining a Tax Registration Number
Before applying for Turkey citizenship by investment, you must obtain a tax registration number first. This can be done in any tax office in Turkey. Furthermore, it’s incredibly easy to get a tax number. You only need to submit your original passport and photos, fill out the form, and comply with other requirements. You can consult with our immigration experts to check with your requirements.
Opening a Turkish Bank Account
Another step that is vital in purchasing a property for Turkey citizenship by investment is a bank account. Having a bank account is essential to document your real estate transactions. Your passport, photos, and tax registration number are required to open a bank account. Furthermore, you also need to have a public utility bill or any official document that shows your current address.
Finding the Property
After taking care of the document above, you’re now ready to find the perfect property for you. You need to find single or multiple properties with a cumulative value of $250,000. You can consult with a real estate expert to narrow down the options for you.
If not, you can consult with them to get the official valuation survey of your chosen property. Next, consult with a lawyer to have your Title Deed or Construction Servitude ready. You'll also need to obtain a habitation license.
Buying the Property
Now that you're ready to buy a property, you're now one step closer to applying for Turkey citizenship by investment! You can pay your property through bank transfer. The issuing bank will then provide a receipt that proves as your transaction document. Your Title Deed Registry must also have an annotation stating the property must not be sold for three years.
Get Your Conformity Certification
You can request or provide an official valuation survey after buying the property. Submit the bank transfer receipt as you apply for certification to the Ministry of Environment and Urbanization.
Turkish Residency Application
After all these processes, you can now apply for Turkish residency! All you need to do is to gather all the required documents. Submit your application to the Directorate General of Migration Management. A Residency visa is required before you can apply for Turkey citizenship by investment.
Apply for Turkey Citizenship by Investment
Last but not the least, it's time to apply for Turkey citizenship by investment! It has the same process as a residency. Gather all the necessary documents and submit them to the Directorate General of Migration Management.
Contact our professionals now to start applying for Turkish citizenship!