New decisions on Turkish Citizenship by Investment

New decisions on Turkish Citizenship by Investment

Today, it is quite easy to acquire Turkish citizenship!

By fulfilling certain procedures required by the Republic of Turkey, you can easily acquire Turkish citizenship and enjoy the same rights and freedoms as individuals who are Turkish citizens by birth.

However, the current procedures for Turkish citizenship by investment have been amended.

As of January 1, 2023, the conditions that will enter into force concern individuals who will apply for Turkish citizenship by investment for the first time.

We have prepared all the details regarding the conditions for Turkish citizenship by investment for you.

Foreign Investors Prefer Turkey

 

In 2003, with the "Law on Foreign Direct Investment", foreign investors had the right to become Turkish citizens by investing in Turkey.

 

Since that year, the number of individuals who have acquired Turkish citizenship has been on a steady increase.

 

When we look at the last 3 years, it is announced that more than 20 thousand foreigners have acquired Turkish citizenship through investment.

 

As of January 1, 2023, there are new regulations for individuals who will apply for Turkish citizenship.

 

1- Regulation on Immovable Property

 

A Single Contract condition has been introduced for the sale of immovable property in contracts based on the promise to sell immovable property.

 

With the single contract condition, as of January 1, 2023, the sales promise agreement used for the sale of immovable property will be valid for only one immovable property.

As of January 1, USD 400 Thousand payments will only be valid for one immovable property and will not cover more than one immovable property.

 

2- Regulation on Share Sales

 

Turkish citizenship cannot be applied for by acquiring shares in immovable property.

 

Only one foreign citizen will be granted Turkish citizenship for each immovable property.

 

3- Regulation on Foreign Currency Purchase Certificate

 

The foreign currency purchase certificates to be included in the sales contracts will be required to be issued at the latest on the date of issuance of the contract.

 

Other Regulations

 

For payments made through banks, the use of payment methods offered through banks will be allowed.

 

Blocked check payments will be allowed within this scope.

 

In addition, in the sale of second-hand immovable property, the immovable property in question must not have been previously transferred by a foreign national to a Turkish citizen or company.

For more detailed information on the regulations regarding foreign citizens obtaining Turkish citizenship by investing in Turkey, please contact Proturk Property by scheduling an online consultation.

Proturk Property's expert legal service offers professional process management services on all legal issues you need.

Proturk Property experts will be happy to assist you in all matters related to profitable investments in Turkey and the Turkish citizenship process.