Turkish Citizenship Guide is Updated
The Turkish government has made changes on the law of obtaining Turkish citizenship by investment. According to the new circular;
• It is not possible to apply for citizenship with joint ownership. If the applicant shares the ownership rights with another person or legal entity on the title deed, they cannot get Turkish citizenship with the property. The title deed must be under the name of a single individual. If the ownership rights of one property were transferred from multiple owners to a single foreign individual, the new owner would be able to apply for Turkish citizenship since they bear full ownership rights.
• There is no restriction regarding the number of real estate or the property type for the purchase. Multiple properties including residences, businesses, lands, or farms worth at least 400.000 USD in total would be valid for the Turkey citizenship program. In the old circular, more than one notary sales contract that reaches the minimum sales amount would be accepted. However with the changes in the law, now the minimum purchasing amount must be concluded with a single notary sales contract. More than one notary sales contract will not be considered for Turkish citizenship applications. You can apply for Turkish citizenship with multiple title deeds.
• The new circular clearly states that timeshare properties cannot be subject to Turkish citizenship acquisition by investment.
The new amendment will be effective from January 1st, 2023.
Legal procedures and transactions of buying property in Turkey and citizenship is a smooth process with the experienced and spirited real estate experts of Antalya Homes ®. Take a look at our Turkish Citizenship page, download your buying guide for free and contact us today for more information.