Turkey has become an immigrant receiver country in the last decades due to its increasing social, economic and educational capacities. Thus, the applications for Turkish citizenship increased especially through estate invest. Property investment is an easy way to get Turkish citizenship but there are some criteria that has to be regarded. Here is the 7 thing you should know before buying a house in Turkey:
Titles
The Minimum Limit
The foreigner can apply for and get Turkish citizenship when they buy a house or invest in lands and offices that costs at least $250.000. This amount was reduced from $1.000.000 to $250.000 in 2018.
The Place of Property
Foreigners cannot own properties in the security areas such as near the military bases. Thus, you should regard this rule.
Maximum Limit
The foreigners can have properties of more than 10 hectares in total.
The Limitation on the Selling of the House
The people who get Turkish citizenship through buying houses cannot sell their houses for three years after citizenship. In the case of selling, the citizenship status is reevaluated by the authorities.
The Number of Immovable Assets
There is no upper number for the property-owning other than 10 hectares. You can buy only one property which costs at least $250.000 or a few properties which each cost less than $250.000 but cost more than $250.000 in total.
Currency Rate Difference
If you invest in any currency other than the dollar, the investment has to be equal of $250.000 in that currency. The currency rate is determined according to the Turkish Central Bank’s data in the day that investment takes place.
Timing of the Buying Houses
The properties can be bought at different times. You don’t have to buy them all in the same day.
This is the 7 advice on buying property in Turkey by clarifying the rules and criteria.
The General Rules of Turkish Citizenship Application
The applicants must provide the 8 general criteria when they apply for Turkish citizenship:
- The person needs to be an adult according to its own country’s constitution. If the person is stateless, the person must be adult according to the Turkish constitution.
- The person must live at least five years before the application date
- The person must show he or she will live in Turkey in the future, by meeting some of the conditions such as making a property investment, making capital investment, marrying a Turkish citizen, getting an education in Turkey, etc.
- The foreigner who applies for citizenship must not have health conditions that endanger society.
- To have good morality, to be a trustable person and not to have bad addictions.
- To be able to speak Turkish in a necessary and desired level.
- To have the economic capacity or a job to take care of himself/herself and his/her family
- The applicant mustn’t be a threat to Turkish national security and social order. Thus, he or she shouldn’t be a member of groups which are recognized by Turkey as terrorist or mustn’t involve in dangerous actions.
