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Investing Türkiye – 250000$ Property Investment to get Turkish Citizenship

Turkey Nationality – Property Turkey

Turkey has significantly reduced the price limit to get citizenship via buying a property. Foreigners who own or buy real estate in Turkey worth a minimum of $250,000, instead of $1 million, can now get Turkish citizenship.

Stage 1 – Find Your Home:

Istanbul and southern touristic cities (Antalya, İzmir, Muğla etc) are populer locations for foreigners.

See 250.000$ Houses in Maslak >>

(Maslak is the best-known business district in İstanbul)

Stage 2 – Transaction at Land Registry Directorate (LRD):

  • Before Applicaton, official property valuation must be prepared.
  • The owner of the property or his/her representative makes an application to the Land Registry Directorate. The application must be made before noon.
  • LRD gives you a time and date to finish the transaction.
  • Both buyer and seller must be at LRD at the given date.
  • Before and during transaction, the buyer must state his/her intent to apply Turkish citizenship to LRD officially
  • Both seller and buyer pay transaction (purchase) tax. This is %1,5 of the selling price. The selling price stated to LRD cannot be less than the “Property Value Statement”
  • The official real estate agent fee is %2 for both buyer and seller.
  • After the transaction, official application for Turkish citizenship starts. (We recommend you a consultant)

Required Documents at Land Registry Directorate (LRD)

  1. Title deed of the real estate
  2. Identification or passport (Notary endorsed translation to Turkish is a must)
  3. “Document of Property Value Statement” (Municipality gives this document)
  4. Compulsory earthquake insurance (aka DASK in Turkish)
  5. 2 photos of buyer & seller (taken within last 6 months, 6×4 cm. size)
  6. If buyer or seller cannot speak Turkish, there must be a certified interpreter,

Stage 3 – After The Transaction:

  • When purchase is completed, you get Tapu (title deed)
  • Open a Turkish bank account (Your passport and another identification is necessary during application. Driving licence etc..)
  • When you bank account is opened, you will receive your “tax number”
  • Register for property tax at Municipality (% 0.2 of the property value, paid yearly)
  • Apply for utilities such as electric, gas and water

Stage 4 – Application for Turkish Citizenship

When you buy properties above 250.000 USD, you can apply to (Tapu Office) Land Registry Directorate. This application is sent to Ministry of Environment and Urbanization. Properties are checked if they have 250.000 USD value or not and send to General Directorate of Population and Citizenship Affairs. You will be invited for final signatures to get your ID.

Costs of Buying Property in Turkey

 Cost
Property Value250.000$
Property Valuation Report175$
Purchase Tax3.750$
Real Estate Agent Fee5.000$
Other250$
Total259.175$

1. What about my family? Do they get Turkish Citizenship as well?

Your family including all your children under the age of 18 may get citizenship.

2. Should I buy one property for 250.000$ or multiple properties is okey?

You can buy more than 1 property but the total value of these properties must be over 250.000$. You must apply to LRD at the same time for all properties stating that you will apply for citizenship.

3. What about property valuation (expertiz)?

The property valuation report must be prepared by official valuation experts assigned by government.

4. How should I calculate the exchange rate for USD?

On the application date to LRD (Tapu), Turkish Central Bank selling rate (efektif satış kuru) is used. The property value should be paid by bank transfer to the seller.

5. How long does citizenship approval take?

It is approximately between 6 to 24 months.

6. Is commercial property also acceptable?

Yes, both residential and commercial is okey

7. Do I have to end my current citizenship when I become a Turkish citizen?

No, you can have dual or multiple citizenships.

8. Which nationalities may apply for Turkish citizenship?

All nationalities who are able to buy property by Turkish law, may apply for Turkish citizenship

For Your Questions:

Önder Çoban 

  +905496340334

  onder@emlakcep.com

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