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Real Estate Investment Law to Grant Turkish Citizenship

Real Estate Investment Law to Grant Turkish Citizenship

The Turkish citizenship can be obtained through real estate investment.

The Turkish citizenship can be obtained through real estate investment. The law was amended by the Turkish government on 18/09/2018.

The most important provisions of this law are that all financial transactions for the purchase of property through turkish banks, and cannot accept transactions such as cash.

It is also not possible to buy a property from any foreign person (non-Turkish).

The value of the property required must be at least $ 250 thousand.

According to the amended law, the property cannot be sold during the first three years of the purchase.

As for the steps to obtain turkish nationality; The Turkish citizenship can be obtained through real estate investment. You must first obtain the tax registration number and then open a bank account in one of the Turkish banks.

After completing the purchase and sale process, the certificate of conformity will be obtained and then the rest of the documents will be completed in order to apply for the Turkish citizenship.

Meanwhile, dozens of applications for Turkish citizenship via investments are made every week. The total number of applications submitted so far has exceeded 10,000.

According to data from the Turkish Institute of Statistics, real estate sales to foreign investors reached 78.30% in 2018 compared to 2017. There is no doubt that the main factor behind this dramatic rise in sales is the recent turnout of Turkish citizenship through investment laws.

According to the Turkish Institute of Statistics, real estate sales to foreign investors reached 78.30% in 2018 compared to 2017. There is no doubt that the main factor behind this dramatic rise in sales is the recent turnout of Turkish citizenship through investment laws.

Get a quick list of required documents click here.

 

The following is the translation of the law to grant Turkish citizenship to investors 2018

Resolution number: 106

Under article 46 of the Turkish Citizenship Act No. 5901, an amendment decision was made in the application of the Turkish Citizenship Act

18 September 2018

Recep Tayyip Erdogan

President of the Republic

 

Article 1

The law relating to the Turkish citizenship has been amended in accordance with the decision of the Council of Ministers dated 11/2/2010, No. 1/2010/2010.

By modifying the words “in accordance with the request of the Council of Ministers or the Minister” contained in Article 20 of the Act, with the words “at the request of the President of the Republic”

 Amend the words in item (a) of the same paragraph

Instead of “2,000,000 USD”, “Ministry of Economy”, the words “500,000 USD, or equivalent to the Turkish lira” “Ministry of Industry and Technologies” are placed

 Amend the words in item (b) of the same paragraph

Instead of “1,000,000 USD”, the words “250,000 USD or the equivalent of the Turkish lira”

Amend the words (c) of the same paragraph

Instead of the words “100” “Ministry of Labour and Social Insurance”, the words “50” “Ministry of Labour and Social Insurance” shall be inserted.

 Amend the phrase in item (w) of the same paragraph

Instead of the term “3,000,000″, “Treasury Advisor”, the term “500000 USD or the equivalent of the Turkish Lira” “Treasury and Finance Ministry” are placed

The amendment of clause (d) shall be as follows: “Foreign parts of a value of 500000 US dollars, or a replacement of this amount of the Turkish lira, or an investment of equivalent real estate for this amount, or capital investment provided that this investment is held for at least three years By the Capital Markets Authority ”

Article 2

The words “and / or” “the equivalent exchange rate” were added to the word “printed exchange rate” in paragraph 6 of article 20 of the same law

Article 3

The following paragraphs have been added to Article 20 of the same law

(7) A committee will be established in the context of the second paragraph, relating to the submission of applications for citizenship and will follow the proceedings in this context

The committee is composed of Ministries of Interior, Family, Labour and Social Services, Environment and Cities, Treasury and Finance, Industry and Technologies

(8) A consolidation could be made to complete the identification period for the types of investments to be made in the context of the second paragraph.

Article 4

This Law shall enter into force on the date of its publication

Article 5

The President of the Republic shall apply the provisions of this Law.

The Turkish citizenship can be obtained through real estate investment

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