Turkey is one of the countries where real estate investments have been made the most in recent years. In Turkey, which is a highly developed country in terms of economy and culture, there are different situations as well as the wealth of the country in the shift of investments to the real estate sector! In particular, the rights granted to foreigners investing in citizenship make Turkey a center of attraction. So, what are the privileges of being a citizen in Turkey?
Privileges of Turkish Citizenship for Foreigners
There are many social, cultural and economic privileges that foreigners can gain by investing in Turkey. While Turkey’s geographical location is very special for people to live here, it is possible to obtain the following privileges.
Turkey, within the framework of the social state principle, carries out studies for the sake of people living in a more comfortable and prosperous way. Based on this understanding, it is aimed that everyone who is a Turkish citizen will receive free service. While citizens who have health insurance can get free treatment, anyone who enters state hospitals from an emergency can get free treatment.
It is possible to mention that Turkey, which has doctors who have proven their success in health services internationally, is also an ideal country in paid services. Turkey has left many European countries behind in fields such as Aesthetic Surgery, Hair Transplantation and Dentistry.
Another advantage of being a citizen of the Republic of Turkey is to have a strong passport. It is possible to enter more than 50 countries in the world with a Turkish passport without obtaining a visa. This makes being a Turkish citizen a prestigious situation. Economic opportunities in Turkey, where foreigners line up to become citizens by investing, are also at a very serious level.
Conditions for Obtaining a Turkish Citizenship by Investment
There are 3 different methods for a foreigner to obtain Turkish citizenship as an investor in Turkey. With the regulation made in 2019, it is sufficient for foreign citizens to fulfill one of the following 3 conditions in order to become Turkish citizens.
- Real estate investment worth 400,000 USD,
- Deposits worth 500,000 USD in Turkish banks,
- Purchase of government bonds worth at least 500,000 USD.
Investors who have met one of these conditions must apply for citizenship and become Turkish citizens. So, how does this process work? Let’s take a closer look!
Turkish Citizenship by Real Estate Investment
Those who want to acquire citizenship in Turkey by investing should leave behind the process, which will take 7 steps in total. Within the framework of the citizenship process, which we will explain step by step below, you can make real estate investments in Turkey.
- Getting a Tax Number
By obtaining a Tax Number, foreigners are required to make preliminary preparations to invest in Turkey. At this stage, you can learn how the process will proceed and which institution to apply to get a Tax Number through the Real Estate Investment Advisor.
- Open a bank account
In order to acquire citizenship by investing in real estate in Turkey, you must have an account in a Turkish bank. You can easily open your bank account when you apply to the bank with your tax number by choosing the bank you want to cooperate with. Because every bank that knows that you will deposit a significant amount of money will compete to make you their customer.
- Finding Real Estate
In order to invest, it is important to find a real estate that is profitable and meets your expectations. However, you may not know in which province and what kind of properties you will buy a real estate. In this case, what you need to do is to cooperate with a Real Estate Investment Advisor. You can ask us to find a suitable real estate for you by contacting us. We find a real estate that is suitable for investment and will satisfy you, and we produce solutions that will enable you to buy it in a short time.
- Buying Real Estate
At this stage, where money transfer and title deed transactions will be carried out, you can act in company with the Real Estate Consultant in order to complete the official transactions. You will be able to experience the difficulties caused by not knowing Turkish with the privileges of your real estate agent. After completing the deed and transfer procedures, it comes to the next stage.
- Obtaining the Declaration of Conformity
After the completion of the purchasing process, you must apply to the relevant institutions for the evaluation of the real estate you have purchased. You will be one step closer to Turkish citizenship after the real estate is certified to be worth 250,000 USD or more.
- Obtaining a Residence Permit in Turkey
After gathering the necessary documents, you should apply to the Migration Management to obtain a residence permit in Turkey. Here, you are approved to obtain a residence permit within the framework of the evaluation made on the documents. Thus, you have the right to reside in Turkey.
- Turkish Citizenship Application
After leaving all the steps behind, you can apply for Turkish Citizenship by collecting the necessary documents. If there is no defect in the process, you are entitled to Turkish citizenship. After your application is accepted, you gain Turkish citizenship permanently by fulfilling some conditions.
Things to Know About Real Estate Investment and Turkish Citizenship
In order to acquire citizenship by investing in real estate in Turkey, you must meet certain conditions. In this context, investors who do not meet the conditions may lose their citizenship rights. Well, what conditions should foreigners maintain in order to obtain the right to citizenship?
- You should not sell the real estate for 3 years from the date of investment,
- At the end of the 3-year period, the real estate can be sold profitably,
- Investor’s spouse and children under the age of 18 can benefit from citizenship within the scope of investment,
- If you meet the above conditions related to the citizenship you have acquired in Turkey, you will have the chance to obtain Turkish citizenship throughout your life,
- In addition to Turkish citizenship, you can also have citizenship of other countries at the same time.
Professional Support for Obtaining Turkish Citizenship
In order to acquire citizenship by real estate investment in Turkey, you need professional support. If you continue the process alone, you are likely to face certain problems. So, what kind of problems do you encounter when you do not receive professional support during real estate investments?
It is seen that investors who want to invest in Turkey generally do not know Turkish. It is impossible for an investor who does not speak Turkish to carry on the whole process alone. Because the number of people who can speak a foreign language in the Land Registry, Migration Management and other official institutions is very low. You can cooperate with a professional real estate agent to overcome the problems you will face.
Missing Application Deadlines
In order to obtain Turkish citizenship, it is also valuable to apply on time as well as the language problem. Because the prolongation of the process will not be a desirable situation for the investor. A professional Real Estate Consultant offers solutions for your needs. In this way, it is possible to complete the application processes in a timely and flawless manner.
You can contact us for all the support you may need during and after the application process. In this context, we aim to produce solutions for you with our professional team and quality-oriented understanding.