How To Get Turkish Citizenship By Real Estate Investment?
If you want to acquire Turkish citizenship through real estate investment, you should know how to purchase property in Turkey. In this regard, it is necessary to hire a lawyer to get the necessary documents, register ownership, and make sure the property you are purchasing is eligible for the real estate investment program. However, it is essential to understand that the Turkish Ministry of Interior checks you and your family for up to three months. It checks your details in international databases and ensures that you and your family are not in any danger of causing harm to the country.
If you want to live in Turkey, a Turkish citizenship is an attractive option. This program enables foreign investors to buy real estate at preferential mortgage rates in Turkey. This is not a good option if you want to travel to the USA or Europe on vacation or do business there. In addition, you can only get Turkish citizenship if you know the language. But if you have the money, then a Turkish passport is a good choice.
To qualify for a citizenship by investment in Turkey, you must invest at least $400 thousand US dollars in real estate. Then, you must hold the property for at least 3 years. After that, you can resell it or rent it out. There are no language or history exams required, and no residence permit is required. Moreover, you can invest in real estate as a legal entity. Generally, it will double or triple its value within 5 to 10 years.
After choosing an investment option, you must apply for a residence permit in Turkey. You will need a bank account in Turkiye. Once your bank account is established, you need to prepare your application documents. These documents include a Bank Transfer Receipt (BTR) and an Official Valuation Survey. Once your application is complete, you can submit it to the Ministry of Environment and Urbanization for your citizenship application. Once your residency permit is approved, you can apply for a passport and citizenship documents.
Once your funds are in Turkey, you can apply for a Turkish passport. The process is simple and straightforward. You must invest at least $500000 in real estate. Unlike other programs, this process requires a minimum amount of money, and you can sell or rent the property once you've acquired the residence. The investment in real estate will increase in value over the next few years, so you can easily sell or rent it. You don't need to be a resident in Turkey to qualify for a Turkish passport.
After obtaining the tax registration number, you will need to open a Turkish bank account. Having a bank account in Turkey is essential for purchasing property in Turkey. However, you can also apply for dual citizenship, if you wish. This program is very beneficial for foreign investors who want to live in Turkey while enjoying the benefits of a Turkish citizenship. So, make sure to invest in Turkish real estate and get the citizenship of Turkey. You'll be glad you did.
The minimum investment amount in Turkey for Turkish citizenship has increased to $400k. In January 2017, the investment amount for this program was just $250,000, but in mid-2019, the government decided to make it $100,000 to attract more foreign investors. This makes the Turkish citizenship program one of the hottest RCBI programs in the world. You can also get a Turkish passport if your spouse or children are under the age of eighteen years.
Another benefit of a Turkish passport is that it grants visa-free access to over 115 countries. Those from 26 countries may find this benefit attractive. In addition, a Turkish passport will allow you to travel and work in any country in the world for up to 10 years, even if you have to change your nationality. Another benefit of a Turkish passport is that it can be obtained in USD or its equivalent.
If you invest $400,000 in real estate in Turkey, you can get a Turkish Passport in three to six months. If you do not want to take too much time, you can choose another investment option. One of the most popular investment options is to buy a house or apartment worth $400.000. However, you must purchase the property within two months of acquiring it. If you own the property, you can even receive a tax-free annual yield of up to 8%.