New amendments to the Turkish Citizenship Law through real estate ownership 2022
There are new amendments to the Turkish Citizenship Law through investment. The minimum real estate value is increased to $400,000 or an equal amount of foreign currency. It is worth noting that foreigners can buy a property according to the old law and obtain Turkish nationality before 12 / 6 / 2022. We will show the new amendments to the Turkish Citizenship Law through investment in this article:
The old Turkish Citizenship Law through real estate ownership:
Undoubtedly, Turkey is one of the most famous countries in the world in terms of investment. Moreover, the attention of investors directed towards Turkey to take advantage of the benefits offered by the Turkish state.
In 2017, the Turkish government ratified the Turkish Citizenship by Investment Law with the aim of contributing in order to the support and prosperity of its economy:
(The program provides foreign investors with the opportunity to obtain Turkish citizenship in exchange for a real estate investment of $250,000.)
Thus, this law had a positive response with foreign investors. As the number of foreigners who obtained Turkish citizenship in return for real estate investment reached 19,630 foreigners, at the end of November of 2021. That is according to data published by the Turkish Ministry of Environment and Urbanization.
The new amendments to the Turkish Citizenship Law through investment:
Amendments were made to the law allowing foreigners to apply for Turkish citizenship by purchasing real estate.
Thus, the new amendments to the Turkish Citizenship Law through investment states:
(A foreigner has the right to obtain Turkish citizenship in exchange for a real estate investment of 400,000 US dollars).
In the early hours of Friday, 12/5/2022, the Turkish Official Gazette published the decision of President Recep Tayyip Erdogan that stipulated to raise the value of real estate investment to obtain Turkish citizenship from 250 to 400 thousand dollars.
It is worth noting that the new regulation will officially enter into force on June 12, 2022.
That is, a month after the date of its announcement in the Official Gazette.
This official statement came, based on the decision taken at the Presidential Cabinet Meeting arranged on April 12, 2022 as the value of the real estate required to apply for Turkish citizenship has become 400.000 $.
Very important note:
We, at Ebla Real Estate Company, note that the opportunity is still available for those wishing to obtain Turkish citizenship through real estate investment worth 250 thousand dollars before the implementation of the decision on 12/06/2022.
Thus, we talked about the new amendments to the Turkish Citizenship Law through investment.
Edited by: Ebla Group Real Estate
