Turkish Citizenship by Real Estate Investment

In recent years, Turkey has become an attractive destination for foreign investors. With its strategic location, young and skilled population, competitive market, investor-friendly legislation, incentives, and international integration, Turkey offers numerous opportunities to foreign investors. Foreign investors can obtain Turkish citizenship by investing, trading, working, or purchasing real estate in Turkey. This article aims to provide information about the method, requirements, and advantages of acquiring Turkish citizenship through purchasing real estate.

Conditions for Obtaining Turkish Citizenship by Real Estate Investment

The ways of acquiring Turkish citizenship are regulated by the Turkish Citizenship Law and related regulations. According to these laws and regulations, the ways to acquire Turkish citizenship include:

· Acquisition by birth: Individuals born in Turkey or abroad with at least one Turkish citizen parent automatically acquire Turkish citizenship.

· Acquisition by adoption: Foreign children adopted by Turkish citizens, whether in Turkey or abroad, become Turkish citizens from the date of adoption.

· Acquisition by marriage: Foreign nationals who marry a Turkish citizen can apply for Turkish citizenship from the date of marriage. Conditions for the application include a minimum duration of marriage of 3 years, continuation of the marital union, intention to settle in Turkey, absence of any impediments concerning public order and security, among others.

· Acquisition by long-term residence: Foreign nationals who have resided continuously in Turkey for at least 5 years can apply for Turkish citizenship. Conditions for the application include the intention to settle in Turkey, sufficient financial and emotional ties, proficiency in Turkish language, good health, absence of any impediments concerning public order and security, among others.

· Exceptional acquisition: Foreign nationals who have made significant contributions or are expected to make significant contributions in the cultural, economic, social, scientific, technological, artistic, sports, or international relations fields in Turkey can be granted Turkish citizenship exceptionally by a Presidential decree. For this method, conditions such as residing in Turkey, proficiency in Turkish, or marriage are not required.

· Acquisition by investment: Foreign nationals who make investments of a certain amount in Turkey, provide employment, purchase government bonds, make bank deposits, or purchase real estate can be exceptionally granted Turkish citizenship by a Presidential decree. Conditions for this method include maintaining the investment for a certain period, absence of any impediments concerning public order and security, among others.

This article will focus on the method of acquiring Turkish citizenship through purchasing real estate, which became possible with a legal amendment in 2022. This method allows foreign investors to exceptionally acquire Turkish citizenship by purchasing real estate (residential, commercial, land, etc.) worth at least 400,000 US dollars. The requirements for this method are detailed below.

Requirements for Acquiring Turkish Citizenship through Real Estate Purchase

To acquire Turkish citizenship through purchasing real estate, the following requirements must be met:

· Purchase a real estate worth at least 400,000 US dollars. Equivalent amounts in foreign currency or Turkish lira are also accepted. The determination of this amount is based on the effective selling rate or cross-exchange rate of the Central Bank of the Republic of Turkey on the date of the title deed transaction.

· Place a restriction on the title deed indicating that the real estate cannot be sold for 3 years from the date of purchase. This restriction cannot be lifted before 3 years have passed since the date of purchase.

· Apply to the General Directorate of Land Registry and Cadastre for the purchase of real estate. During the application, a valuation report showing the value of the real estate must be submitted. The valuation report must be prepared by valuation companies authorized by the General Directorate of Land Registry and Cadastre.

· After the purchase of real estate, obtain an eligibility certificate from the General Directorate of Land Registry and Cadastre. The eligibility certificate is a document indicating that the purchase of real estate meets the conditions for acquiring Turkish citizenship.

· After obtaining the eligibility certificate, apply to the General Directorate of Population and Citizenship Affairs for Turkish citizenship. During the application, along with the eligibility certificate, documents such as passport, birth certificate, marital status certificate, residence permit, health report, criminal record check, biometric photographs, and other necessary documents must be submitted.

Rights and Opportunities of Turkish Citizenship

Foreign investors who acquire Turkish citizenship can benefit from various rights and opportunities in Turkey. Turkish citizenship provides the following advantages to foreign investors:

· Enjoying fundamental rights such as free travel in Turkey, working without a work permit, enrolling in educational institutions, accessing healthcare services, being part of the social security system, voting, and being eligible for candidacy.

· Traveling to many countries visa-free or obtaining visas easily under bilateral agreements and international treaties signed by Turkey. Turkish citizens can enter more than 100 countries visa-free or with an electronic visa.

· Having ownership rights such as real estate, vehicles, companies, bank accounts, etc., in Turkey. Turkish citizens are exempt from certain restrictions and taxes applied to foreign nationals in Turkey.

· Reuniting with family members in Turkey. Foreign investors who acquire Turkish citizenship can apply for Turkish citizenship for their spouses and children under the age of 18, allowing them to live and work in Turkey.

· Having dual citizenship in Turkey. Turkey recognizes and does not restrict dual citizenship. Foreign investors who acquire Turkish citizenship can retain their citizenship of origin. However, some countries do not recognize or restrict dual citizenship and may require foreign investors to renounce their citizenship of origin. In such cases, foreign investors are advised to examine the legislation of their countries and complete the necessary procedures.

Conclusion

Turkey is a country that offers foreign investors the opportunity to acquire Turkish citizenship through investment, providing them with numerous rights and opportunities in Turkey. However, this method also imposes legal, political, social, and economic responsibilities on foreign investors in Turkey. Therefore, it is recommended that foreign investors carefully evaluate the advantages and disadvantages, conduct necessary research, and seek professional legal advice before opting for this method.