Turkish Citizenship Buying Property Valued $400K
Although there are six ways regulated by the law for Turkish citizenship through investment, but the most preferred type is getting Turkish Citizenship by Buying Property. With the president’s decree dated 18 September 2018, the required property value for getting Turkish citizenship has been decreased to $400K. As a result of this decision, an enormous increase in interest in purchasing real estate in Turkey by foreign investors has been observed. This interest comes with a very common question. How does the Turkish citizenship by investment process work? We have simplified the process of how to acquire Turkish citizenship by buying property investment in SIX easy steps.
1. Location, Location Location:
Before starting the process, you shall decide on the location to invest. To buy a property, you need to see the eligible properties. After deciding on the property, a good bargain must be done for the sales price. When the negotiations finish, there are certain points should be checked. This is essential for the safety of your investment. For this reason, we highly recommend investors to work with a professional team like us from start to end. Besides, if the realtor doesn’t work with a lawyer, you must take the service of the lawyer. Not to forget that, we have in-house lawyers to assist you with this.
2. Turkish Bank Account:
After completing the checks on the property you will purchase, you need to open a bank account to transfer money. This step is not mandatory. You may transfer money from your bank account out of Turkey to the developer’s account directly. However, we should note that some developers ask for money to come from a Turkish bank. In this case, we provide an easy bank account opening service free of cost to our clients. The mandatory part here is that the sales payment should be deposited from the investor’s account to the seller’s account.
3. Title Deed (TAPU):
When the payments are completed and the necessary documents are prepared, the TAPU (title deed) transfer date is scheduled with the seller. You may sign the deed yourself or you may appoint your lawyer. Legal procedures will begin after the TAPU is registered by your name. At the same time, your lawyer will sign papers at the TAPU office to put a hold on property for 3 years to acquire Turkish citizenship. With this commitment, your lawyer will submit the documents to the Ministry 0f Environment and Urbanization and wait to get confirmation that if the investment is suitable for the application for citizenship.
4. Turkish Residence Permit:
The Ministry of Environment and Urbanization issues the conformity report within 14 days. When the report is ready, your lawyer will make the residence permit application on your behalf. With the required documents, the lawyer will finish the residence permit application. Your attendance is not required at this stage. This is a method used by our lawyer at FIN to ease the process for investors.
5. Turkish Citizenship Application:
Once your residence permit is approved, there will be no obstacles to applying for citizenship. However, we should also remind you that if you want this process to work fast and your citizenship application to be completed immediately, you should prepare the required documents in advance. The benefit of working with our lawyer is that we will give you a list of documents to prepare at the very beginning of the process. When your lawyer completes the application, you need to wait until the government agencies examine it.
6. Turkish Passport And ID
When your citizenship application is approved, an official confirmation statement will be delivered to your lawyer. With this document, you need to apply to the relevant government offices and give fingerprints. After completing this process, your passport will be delivered in 3 days, and your Turkish ID card will be delivered in 5 days to the address you stated to the officer.
As a result, your application for citizenship will be finalized between 3 to 6 months from the date of purchase of the property. You can contact us for more detailed information and questions. Our lawyers are ready to answer your questions and find solutions.