Updated: Jun 2
Have you ever dreamed of becoming a citizen of a vibrant and culturally rich country like Turkey? Well, the good news is that the Turkish government has introduced significant changes to its citizenship regulations in 2023, opening up new opportunities for foreigners to acquire Turkish citizenship through real estate investments. In this comprehensive guide, we will walk you through the key changes and requirements introduced by the General Directorate of Land Registry and Cadastre, outlining the process of becoming a Turkish citizen and the benefits it entails.
The Revised Regulations: Acquiring Turkish Citizenship through Real Estate
The General Directorate of Land Registry and Cadastre has made important amendments to the Turkish Citizenship Law, allowing foreigners to obtain Turkish citizenship through the purchase of real estate. Previously, foreigners were required to buy a property worth at least $400,000 or the equivalent amount in Turkish Liras. However, the latest amendment has brought about several changes that potential investors and individuals seeking Turkish citizenship need to be aware of.
Increased Investment Threshold and Restrictions on Shared Ownership
Under the revised regulations, the minimum investment threshold remains at $400,000 or its equivalent in Turkish Liras. However, one significant change is that the option to apply for citizenship through the acquisition of real estate in shares has been abolished. Now, only one person can apply for Turkish citizenship, regardless of the value of the property. Real estate jointly owned by multiple foreigners is no longer eligible for citizenship consideration.
Pre-Sell Contract Requirements
In the past, individuals could apply for Turkish citizenship based on a pre-sell contract. However, the latest amendments have tightened the requirements in this regard. If you choose to apply for citizenship based on a pre-sell contract, the total investment amount must be provided in a single contract. Multiple pre-sell contracts will not be considered for citizenship purposes. It is crucial to ensure that your investment meets these requirements to be eligible for Turkish citizenship.
Valuation Reports and Timeframe Considerations
To streamline the citizenship application process, the General Directorate of Land Registry and Cadastre has made some changes regarding valuation reports. Under the new regulations, valuation reports issued within three months prior to the date of notarization of the pre-sell contract will be accepted. This eliminates the need for a separate valuation report after the pre-sell agreement is annotated in the registry.
The Benefits of Turkish Citizenship
Acquiring Turkish citizenship can bring a host of benefits and opportunities. As a Turkish citizen, you gain access to a country known for its rich history, diverse culture, and stunning landscapes. Turkey offers a high quality of life, excellent healthcare facilities, and a booming economy. Moreover, Turkish citizenship provides you with the opportunity to travel visa-free or with visa-on-arrival to numerous countries, enhancing your global mobility and business prospects.
How to Apply for Turkish Citizenship
Applying for Turkish citizenship requires careful preparation and adherence to the regulations set forth by the General Directorate of Land Registry and Cadastre. The first step is to find a suitable property that meets the minimum investment threshold. Once you have made your purchase, ensure that the title deed includes an annotation stating that the property cannot be sold for three years from the date of acquisition.
Next, gather the necessary documentation, including your valuation report, passport copies, photographs, and application forms. Submit your application to the competent authorities, such as the Turkish consulate or embassy in your home country, or directly to the General Directorate of Land Registry and Cadastre in Turkey.
Considerations and Additional Information
It is important to note that each individual's circumstances may vary, and it is advisable to consult with legal professionals or immigration experts to navigate the Turkish citizenship application process smoothly. They can provide guidance tailored to your specific situation, ensuring that you meet all the requirements and maximize your chances of success.
The changes in Turkish citizenship regulations in 2023 have opened up exciting opportunities for individuals looking to acquire Turkish citizenship through real estate investments. The General Directorate of Land Registry and Cadastre has introduced amendments that streamline the application process and provide clarity on the requirements. By investing in Turkish real estate and meeting the minimum investment threshold, you can embark on a journey to becoming a Turkish citizen, unlocking numerous benefits and enjoying all that this beautiful country has to offer.