Amendments to the Turkish Citizenship Law 2023
Amendments to the Turkish Citizenship Law 2023. Undoubtedly, the amendments to the exceptional Turkish citizenship law in exchange for real estate ownership, which began to be implemented at the beginning of the year 2023, have become a fact that cannot be ignored. In this article from Ebla Real Estate, we will talk about these amendments.
The Turkish Citizenship:
The Turkish citizenship granted by the Turkish government to foreign investors is of exceptional origin.. (meaning that the nationality law can be changed or even canceled at any time and without prior notice).
It is worth noting that the required limit to obtain Turkish Citizenship reduced from 1.000.000$ to 250,000$ in September of 2018. Then, it raised from 250,000$ to 400,000$ in June of 2022.
Obtaining Turkish citizenship does not require any additional costs.. (only owning a property with the minimum amount, which is $400,000.. Provided not to sell it for a period of 3 years).
Undoubtedly, obtaining Turkish citizenship through real estate ownership is one of the best ways.. As it achieves a high financial return from the investment of the property during the three years.. In addition to the increase in the price of the property during this period.
Amendments to the Turkish Citizenship Law 2023:
Amendments to the Turkish Citizenship Law regarding contracts:
The collection of real estate purchased in one sale contract has become a binding matter in owning the property in order to obtain Turkish citizenship.. As it is not possible to apply for Turkish citizenship even if the value of the real estate is more than 400 thousand dollars in the event that the property was purchased with more than one sale contract.
Amendments to the Turkish Citizenship Law regarding the title deed:
The right to obtain Turkish citizenship through the title deed known as dever mülk has been abolished.
The share deed is no longer acceptable in citizenship transactions:
Previously, you could buy a property with several people and obtain Turkish citizenship if you met the condition of the required amount (400.000$) for each partner.
Today, it is no longer acceptable to have a partnership in the title deed.. If the goal is to obtain Turkish citizenship.
Buying real estate from foreign companies:
In the amendments to the Turkish Nationality Law 2023.. It became not possible to apply for Turkish citizenship in the event of buying a property from a company, owned by foreigners even if they have Turkish citizenship.
Moreover, the holder of Turkish citizenship cannot sell his property after the end of the 3-year period to a foreign person with the aim of obtaining Turkish citizenship.
Additionally, the foreigner who obtained the Turkish nationality can not resell the property to the same company or to the person from whom he purchased the property even after three years.
In addition, the property should not be owned by a foreign person in the last three years.. Even if he had Turkish citizenship.
The kinship relationship between the seller and the buyer:
To obtain Turkish citizenship by owning a property.. It is required that there is no kinship between the seller and the buyer.. Even if the seller is of Turkish origin.
Thus, we talked about the Amendments to the Turkish Citizenship Law 2023
Edited by: Ebla Group Real Estate
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