Real estate investment law to obtain Turkish citizenship

Given the great demand by Arab and foreign investors to own a property in Turkey that qualifies them to obtain Turkish citizenship and benefit from all the privileges of this citizenship, It was necessary to set a limit, laws and conditions regulating the acquisition of Turkish citizenship by foreign investors. This is done by adhering to what is stipulated in the Real Estate Investment Law to obtain citizenship. We, through Encomgalaxy Real Estate Company, will explain to you what the new laws stipulate regarding this subject.

Real estate investment law to obtain Turkish citizenship

Many changes have been implemented in the real estate investment law regarding obtaining citizenship. Among the items that were changed was that the wife of the foreign investor obtain citizenship. But now this clause has become canceled and cannot be implemented. Among the provisions of the Real Estate Investment Law are:

1. Since mid-June of the previous year, a change has been made in the investment law and the value of the investment amount that qualifies a foreign businessman to obtain Turkish citizenship has been increased. To become 400 thousand dollars, This is proven in an official document called the “exchange purchase document,” taking into account that the amount received matches the amount written in the payment receipts and title deed.
2. The foreign investor can also deposit an amount of 500 thousand dollars for the purpose of investment as a way that also qualifies him to obtain Turkish citizenship. Taking into account that the amount is transferred and saved in Turkish Lira.
3. A financial instrument has now been provided that aims to make a bank deposit for the purpose of obtaining citizenship, and it is called the “Exchange-Protected Lira Program.” This provision is considered distinctive because it protects the investment and the investor from the harms of the change in the exchange rate of the Lira.
4. After changing a clause stipulating that the investor’s wife will not obtain citizenship, This clause has been updated to stipulate that only the first wife can obtain citizenship.
5. Previously, the application for citizenship took 5 to 6 months. But now, due to the great demand for investment in Turkey, the period has become longer, taking 8 to 9 months.
6. If the investor wants to use the initial sales contract to request citizenship, then writing a clause in the contract stating that the purpose of the contract is to obtain citizenship. This step contributes to facilitating the title deed procedures.
7. Recently, in the recent changes to the Real Estate Investment Law, the authorities have begun to require a “currency exchange document.” This is a new type of document that has become an official document that must be presented when obtaining citizenship. This document must include the following points:

• The full name, passport number and foreign ID number of the applicant.
• Information about the property, such as the building number and plot number.
• The equivalent amount of funds exchanged in dollars.
• Write a clause that the purpose of the contract is to obtain Turkish citizenship.
• The amount written on the property’s payment invoice must match. With the amount written on the currency exchange document.

Benefits of obtaining Turkish citizenship through real estate investment

After we explained the updates and legislation related to the real estate investment law, Let us clarify what benefit will accrue to the investor upon obtaining Turkish citizenship:

• The investor and his family members obtain citizenship.
• The possibility of buying a property and reselling it after 3 years and obtaining huge financial gains.
• The possibility of renting the property at any time and receiving a monthly return.
• The investor becomes not subject to the requirements for physical residence in Türkiye.
• One of the privileges you get from obtaining citizenship is the possibility of obtaining a United States visa.

What are the conditions for an investor to obtain Turkish citizenship through investment?

There are some special conditions that must be met by the investor applying to obtain citizenship through real estate investment, which is next:

1. Purchasing a property worth no less than 400 thousand US dollars.
2. Retaining ownership of the property for a period of 3 years, and after the expiry of the period, the property can be disposed of either by reselling it or renting it.
3. The investor’s record must be free of any criminal suspicions.
4. The property purchased for the purpose of obtaining citizenship must be sold for the first time for this purpose.
5. The property must have the types of tapu (full tapu, the taboo of cooperation).
6. The property owner must be of Turkish origin and hold Turkish citizenship.
7. The method of paying for the property must be in cash, and the amount cannot be paid in installments unless the value of the first payment exceeds $400,000.
8. Apply for Turkish citizenship with Encomgalaxy.

Why should you work with Encomgalaxy?

We are pioneers in discovering unique and attractive real estate opportunities, We have a large team with deep experience in the real estate market. Among the most prominent advantages that our company possesses, which made us the first and ideal choice for the VIP business elite and foreign investors:

• Strategic partnerships: We deal with a large group of global and Turkish real estate market giants to ensure that we provide the best service to our customers.
• We have great experience in the real estate sector. We know when, where and how to invest in the right places.
• Real estate diversity We provide you with a choice from a wide range of real estate projects, whether existing or under construction.
• VIP Experience We offer rare and unique opportunities to businessmen and ensure that their needs are met in the best and easiest ways.
• Flexible installments We provide you with flexible installment services, allowing payments to be distributed according to the agreed upon period, ranging from 12 to 60 months.
• Innovation: We offer you a group of real estate projects equipped with the latest technologies.

Services provided by Encomgalaxy in the field of real estate investment in Turkey

With years of experience, we launched into the world of real estate investment in Turkey, relying on our determination, endeavor, long experience, and relationship in the field. This is due to the distinguished services that we provide to our customers, which are as follows:

• Property Management: We provide you with all the information you need about the investment market in Turkey, including real estate sales, purchases, and after-sales services. We have a work team that will be with you step by step until you obtain your investment unit legally.
• Legal services: Under the supervision of a group of experts and consultants, we help you complete all procedures for owning property or land and submit the necessary official papers.
• Investment: Our services are not limited to the buying and selling process only, but we help you invest in your unit and obtain the best guaranteed profitable returns.
• Obtaining Turkish citizenship: We help you choose the appropriate real estate opportunity that qualifies you to obtain Turkish citizenship easily.

Conclusion

The new changes that occurred in the real estate investment law to obtain Turkish citizenship were aimed at regulating the procedures and preventing undeserving people from obtaining citizenship. This is done according to specific terms, conditions and legislation. Through Encomgalaxy, we help you clarify and understand these conditions, and we also walk with you step by step until you obtain Turkish citizenship. Do not worry, as these necessary procedures are easy and convenient with us.