Do you want to know if you may get Turkish citizenship by investing in real estate? Yes, that is a possibility worth exploring right now. Turkey is now one of the finest nations in the world to live in. While living in Turkey, you will be able to take advantage of various chances. As a result, it’s important to learn how to get Turkish citizenship and determine whether or not you’ll be allowed to do so. Continue to read and we will share more details on buy property in Turkey and get residency.
What is the citizenship-by-investment program in Turkey?
A new part of the legislation was introduced on December 7, 2018, that includes information regarding the procedure of getting Turkish citizenship. According to this, anyone who can afford to make a real estate investment in Turkey worth at least $250,000 will be eligible to become a citizen. The procedure of getting Turkish citizenship is simple, and you will never face any difficulties.
Within Turkey, you can even buy several apartments. All you have to worry about is making sure your investment is worth at least $250,000. If you meet those requirements, you will be granted citizenship without having to answer any questions.
How to buy property in Turkey and get residency?
Let’s explore the steps on how to buy property in Turkey and get residency. You’ll need to open a bank account and use a bank transfer to pay for the property you want to buy. You should preserve the bank transfer receipt with you since it is necessary for you to get your citizenship. On the other hand, in order to proceed with the application procedure and get Turkish citizenship, you will need the value report and title report of the property you purchased.
It is critical to remember that you are acquiring a home in Turkey that has already been constructed. If you try to buy a property that is still being built, you may lose out on the opportunity. This is because the valuation report would not accurately reflect the true worth of the property under development. As a result, you must ensure that you purchase a home that has been completed.
You can also obtain citizenship by signing a notarized agreement to purchase the land.
Another advantage of acquiring Turkish citizenship through investing is that you will be allowed to proceed with the acquisition of property by having a notarized promise. This is one of the parts of the Turkish citizenship legislation that was added in 2018.
As a foreigner, you must guarantee that you make a notary contract commitment of at least $250,000 in order to purchase a property that is for sale. Then you’ll be able to utilize that document as proof of identity and move forward with your citizenship application. You must also commit to holding the property you purchased in Turkey for a term of three years. After the three-year period, you are free to do anything you want with the property. It’s even possible to sell it.