Turkey has always been distinguished by its prestigious position among the countries of the world and its strong competition on the economic and real estate levels, which raised the Turkish citizenship to the desired high status, becoming one of the most important and powerful nationalities in the world. It is the best of them due to the many advantages that the investor will have after that, we will mention them to you through this article.
Why Turkish citizenship through real estate ownership?
Many investors resort to buying a property in Turkey to obtain Turkish citizenship because they will win citizenship and also huge profits from the property, as the phased decline in the value of the Turkish lira has led to a significant relative decline in real estate prices in Turkey, which has given foreign and Arab investors opportunities for profitable real estate investment in the future, and among the facilities provided by the Turkish state that can be considered among the incentives is that it did not require specific types of real estate to obtain citizenship through real estate ownership, but rather opened the way for various options that suit the investor's needs such as housing, land, commercial buildings and many others.
What encouraged foreign and Arab investors to obtain Turkish citizenship is that they do not need to submit a title deed, as the sales contract resulting from the purchase of property in Turkey based on the engineering scheme or from projects under construction is sufficient.
Conditions for obtaining Turkish citizenship through real estate ownership:
Not a short time ago, the Turkish state issued some amendments to the conditions of Turkish citizenship, and in fact it has achieved great success in attracting huge numbers of foreign investors, and through this paragraph we will present to you some of those conditions:
First - the financial value of the property:
It is true that as an investor who is about to obtain Turkish citizenship, you do not have to acquire a certain type of real estate, a certain area, or even a region or a view. Rather, the important thing is the price of the property or the group of properties that have been determined to obtain citizenship, and as approved by the latest amendments, it must have reached 400,000 US dollars and there is no problem if it exceeds that, or the equivalent of this financial value in Turkish lira according to the exchange rate during the buying and selling process.
Second - Signing the non-sale contract:
You will not obtain Turkish citizenship once you buy a property so simply, but you have to wait for three years, and in the meantime, you cannot sell the property. To ensure this, you must sign a paper given to you by the competent authorities in this matter.
Third - Dealing with a Turkish seller:
To obtain citizenship, it is required that you buy the property from an entity that holds it, whether it is a real estate company or even a Turkish seller.
Fourth - Payment of the amount in a certain way:
Here we mean the specific way the bank transfers, as the foreign investor must pay the value of the property through one of the banks located in Turkey.
Fifth - Real estate registration:
You must register the property that was acquired in order to obtain citizenship in a regular manner in the Title Deed Department.
Sixth- The real estate appraisal document:
It is required if you want to obtain Turkish citizenship because of its great importance as it contains all the detailed information about the status of the property to be sold in terms of determining its price in the real estate market, and in this context we must note the it is necessary to extract it by companies specialized in this matter and also licensed by the Turkish government, and the real estate appraisal is obtained within a period of time ranging from three days to approximately a week after submitting an application to the company, and it is valid for three months from the date of its issuance.
Seventh-The nationality of the investor:
The investor must be among the nationalities entitled to obtain Turkish citizenship by buying a property in Turkey, and we find that most nationalities are allowed with the exception of a few of them. We will mention them with the reasons that led to this as follows:
*First - Armenia:
The reason for this is due to a historical dispute between the two countries, where the mutual accusations between Armenia and Turkey over the period of war between them before the First World War affected the nature of their relations in all political and economic aspects, including real estate ownership, which is still valid until now, as the historical incident is an issue that affects Turkish national security, and hence the ban on Armenians’ ownership of real estate in Turkey continued, with expectations that the ban would not be lifted in the future due to the great sensitivity of this issue.
*Second - Cyprus:
The reason for preventing them from buying real estate in Turkey is due to a historical controversy that began in 1925, when the Turkish army tried to protect the rights of Turkish Cypriots in Northern Cyprus, but this ban is eligible to be repealed as soon as the diplomatic crisis between the two countries on the Greek and Turkish parts of Cyprus breaks out.
*Third - North Korea:
Preventing North Korean citizens from owning property is mainly related to Turkey's commitment to international covenants that impose security and international sanctions on Korea.
*Fourth - Syria:
Among the nationalities prohibited from buying a property in Turkey are Syrians because of a referendum that dates back to the period of the French Mandate in Turkey and exactly to 1939, when all the property of the Turks in Syria was confiscated while preventing them from the right to dispose of it and owning real estate and disposing of their property, this decision is still in place until now, despite the heavy presence of Syrian citizens on Turkish lands.
Why is obtaining Turkish citizenship easy?
The Turkish government must have a goal and objective in facilitating the procedures for obtaining Turkish citizenship by buying a property in Turkey, as there are some economic benefits that will accrue to it in the first place. By obtaining this citizenship, its economy will flourish and prosper by buying Turkish real estate, such as shops, or in the event that a company is established or invested in agricultural land. These will all bear fruit on the lands of Turkey. Certainly, there will be benefits for the investor, but these benefits will be shared between him and the state, as you are a beneficiary of Turkish citizenship, the Turkish state benefits from obtaining its citizenship.
Does real estate residency replace Turkish citizenship?
Residency cannot equal the importance of citizenship, noting that the advantages of real estate residency are many and good, but if we compare it with the advantages of citizenship, we will not be fair because the difference between them is very large in terms of the price needed to obtain both and some other aspects.
Many foreigners and Arabs of various nationalities are seeking to obtain Turkish citizenship and have not found a better way to invest in real estate, because they will get the two best things, which are citizenship and real estate in Turkey.
Why invest in real estate in Turkey through Zoom Real Estate?
-We have a close relationship with the most important and luxurious residential complex construction companies in Turkey.
-A wide range of apartments for sale in Istanbul and various types of properties in Antalya that suits all budgets.
-Many years of experience in the Turkish real estate market
-Protecting you from real estate fraud.
-A wide variety of residential real estate, shops, villas with sea views, suitable for investment.
-We help you get the best real estate prices in Turkey.
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