Turkish citizenship by buying property
Turkey is a country neighboring Iran and known as the gateway to Europe. Turkish citizens have been trying to become a member of the European Union by buying property in this country in recent years. This effort has created economic prosperity and raised the level of welfare in this country.
There are many ways to obtain Turkish residence, including buying property, investment, entrepreneurship, bank deposit, birth, marriage and work.
If we talk about obtaining residency through real estate investment, since 2018, the Turkish government reduced the Turkish citizenship law to 250 thousand US dollars in order to facilitate foreign investment in the country, especially in the real estate sector. 2022 change and after a one-month deadline on June 13, 2022, the $400,000 law became effective after being published in the official gazette.
According to this law, investors can obtain a Turkish passport in all properties by appointing an official expert (expertise).
Or become a citizen of Turkey by depositing cash in the amount of 500,000 US dollars or its equivalent, either Euro or Pound, for three years in one of the Turkish banks with the right to receive interest on the monthly deposit.
According to the new law, foreign investors are only allowed to bring three international currencies (US dollar, pound and euro).
After the central bank approves the entry of these three currencies and converts them to the Turkish lira, a document will be issued to you, which is one of the most important documents in the process of purchasing and obtaining citizenship.
In HelloHome company, all these steps will be done by the company’s lawyer.
Another way to get a Turkish passport is to buy government bonds in the amount of 500,000 US dollars. In this way, you can get Turkish citizenship by observing the tax exemption and receiving monthly interest.
In the last two methods, you have a tax exemption, but in the real estate investment section, depending on the type of project you choose, you will be subject to paying a 1% tax, which is sometimes included in your purchase amount.
The citizenship obtained for you is no different from other Turkish citizens, and all the laws of the amendment to the Turkish constitution will include you, for example, the right to vote, free education, medical services, etc.
The Turkish passport has a good reputation, so you can check the validity of all the passports of different countries from the Passport Index website. According to the latest opinion, the Turkish passport is among the 30 most valid passports in the world. You can travel to many countries without issuing a visa or a convenient online visa or a visa at the destination without restrictions.
The advantages of a Turkish passport can be mentioned as follows:
- Being a Turkish citizen brings many advantages for investors and their families in terms of social life, financial opportunities and easy travel. Turkey guarantees its citizens’ well-being and future by providing free medical and health services.
- The program also provides shortcuts to travel to the UK and USA under special visa categories suitable for Turkish citizens. Foreign investors may start the process of immigrating to the UK by moving in the UK as an extension of the agreements between the two countries. In addition, it is possible to live in the United States with an E-2 investment visa.
- Foreign investors can purchase real estate as residential property or as a potential asset with the possibility of a high return on investment. Turkey has a wide selection of comfortable accommodation and luxury beach villas at affordable prices to suit all budgets. Foreign investors may also earn rental income through real estate investments or sell them after the 3-year limit.
- requirements
- There are different options and conditions for obtaining Turkish citizenship.
- The easiest and fastest option for Turkish citizenship is buying a property worth $400,000.
- Those who have purchased at least $400,000 in housing, workplace, real estate or similar properties can start their application process by referring to the General Office of Registration of Documents and Cadastre.
- Documents requested by government agencies must be prepared in accordance with the law.
- After referring to the General Office of Registration of Documents and Cadastre, real estate appraisers check whether the value of the purchased property is $400,000 or not.
- The applicant must own the property for at least 3 years.
