Turkey currently offers one of the most competitive Turkish citizenship by investment systems globally. Which is excellent news for investors. A modest investment of US $250,000 in freehold property in Turkey can now ensure a Turkish passport after only three years.
Property as a citizenship incentive in Turkey
Turkey has been conducting a citizenship investment plan since 2016, but the buy-in was far more significant back then (a minimum of $1 million in property spending was required). To bring the Turkish Lira back into balance following the summer currency woes, this value has been cut to merely the US $250,000. This is a significantly more manageable figure. And, because the benefits don’t stop there, Turkish citizenship can be obtained by investing US $500,000 in a Turkish firm or depositing US $500,000 in a state investment programme or bank for three years or more.
Select a reputable real estate agent
Look for an agent that has helped investor’s secure Turkish real estate for several years. Since the new citizenship restrictions were revealed, several estate agent offices have received a torrent of inquiries. To make the application procedure more uncomplicated, a clear five-step investment plan guides consumers through initial investigation and property search to acquire citizenship three years later. If you contemplate taking advantage of the new regulations, this is a lucrative investment for everyone to take advantage of.
Below are a few suggestions for locations of where to buy property for sale in Turkey. Possible as an investment or if you’re looking for a Turkish house. Antalya, Bursa, Istanbul, Alanya, Fethiye, Kalkan, and Bodrum are all places worth investing in.
Property for citizenship plan stages 1-5
Invest $250,000 in Turkish real estate. Turkey has a vast range of destinations to suit a wide range of tastes and interests. Are you looking for an investment purchase in Istanbul or a beach lifestyle house in Kalkan? Good estate agents can help you identify and obtain the best areas. You must invest $250,000 to be accepted into the citizenship programme. This amount of money can be used to buy one or more Turkish homes. All property must have their Title Deeds (TAPU) in order, which usually limits your options to flats or villas already built or near completion.
Engage the services of a lawyer to manage the citizenship application. A lawyer should be appointed to safeguard your rights better and guide you through the citizenship application process. Your estate agency representative can refer you to several multilingual lawyers who can prepare all of the documents and be with you through the process from beginning to end. The first application process can take up to six months.
Property assessments and legal reviews are carried out. Part of the process means a government surveyor must inspect the purchased property. The surveyor would look at the price paid as well as the amount declared on the Title Deeds. Your real estate agent will oversee the necessary checks and make the necessary arrangements.
The residence has assessed a fee for three years. According to the regulations for qualifying for citizenship, the property purchased cannot be sold for at least three years. If the application is approved, the Title Deeds property is assessed an official fee, which prevents it from being sold for 36 months. This will be lifted once the time limit has been met and citizenship has been granted.
Citizenship is a gift. After three years of waiting, the buyer, spouse, and any children under 18 are granted citizenship. The property charges have been lifted, and the property will be sold if necessary.