With the increasing number of foreigners in our country, the topic of acquiring citizenship has become a significant issue. One of the methods for acquiring citizenship is through investment, and within this category, obtaining citizenship by purchasing real estate is becoming increasingly popular. In this article, we aim to address the most frequently asked questions regarding the direct acquisition of citizenship through real estate purchase.
1. Who determines the value of the real estate purchased for direct citizenship acquisition through investment?
According to current regulations in Turkey, foreigners who purchase real estate with a minimum value of 400,000 USD are eligible to acquire Turkish citizenship. To confirm that the total value of the real estate meets the minimum requirement of 400,000 USD, an appraisal must be obtained from a real estate valuation company. It is crucial to note that the valuation should not be conducted by just any real estate company. The company chosen must be one listed by the Capital Markets Board of Turkey ("SPK"). The value of the real estate for citizenship acquisition must be determined by a real estate valuation report prepared by a company on this list.
Additionally, if multiple properties are purchased with a total value of at least 400,000 USD, citizenship acquisition through real estate purchase is also possible, provided that the citizenship application is submitted for all properties simultaneously.
2. Is it possible to acquire Turkish citizenship by purchasing real estate from a foreign individual?
The real estate involved in the sale or preliminary sale agreement for citizenship acquisition must not be registered in the name of a foreign individual in the land registry. Similarly, citizenship cannot be acquired with real estate registered in the name of the foreign applicant’s spouse or children. However, there is an exception: if a foreign individual sells their property, which is registered in Turkey, to a Turkish citizen, the property can later be used for citizenship acquisition. This exception is conditional on the fact that the property was not transferred by the foreign individual, their spouse, or children after January 12, 2017.
3. Can a foreign individual purchase real estate without coming to Turkey?
A foreign individual can purchase real estate in Turkey by granting a power of attorney to someone who will carry out the transaction on their behalf. The power of attorney must clearly and specifically outline the procedures related to the real estate purchase. Otherwise, issues may arise during the purchase process and subsequent related transactions. The power of attorney can be issued at a notary public in Turkey if the foreign individual is present in Turkey, or it can be issued while the individual is abroad.
If the power of attorney is issued at a Turkish consulate abroad, it will be valid as it will be prepared in Turkish. If the power of attorney is issued by competent authorities outside Turkish consulates, it must be translated into Turkish by a sworn translator and notarized by a Turkish notary public.
4. What type of real estate should be purchased to acquire Turkish citizenship?
To acquire Turkish citizenship through real estate purchase, the property must be purchased with a sale contract or be subject to a preliminary sale agreement notarized in Turkey. The type of real estate—whether it is residential, commercial, land, or agricultural—does not affect citizenship acquisition; the specific nature of the property is not explicitly required. However, if citizenship is to be acquired through a preliminary sale agreement, the property must have established condominium or construction servitude rights.
Applications based on preliminary sale agreements for properties such as land, fields, or gardens will be rejected.
5. Are there any restrictions on purchasing company-owned real estate for Turkish citizenship acquisition?
It is possible to purchase company-owned real estate for the purpose of acquiring Turkish citizenship through real estate purchase. However, there are certain exceptional situations where the purchase of company-owned real estate may not be eligible for citizenship acquisition. These exceptions include:
The real estate must not be registered in the name of a company in which the foreign individual, their spouse, or children hold shares.
The real estate must not be registered in the name of a legal entity where the foreign individual serves as a director.
The real estate must not be registered in the name of an international company owned by foreign individuals of the same nationality as the buyer.
6. Can Turkish citizenship be applied for based on previously made investments?
Citizenship applications through real estate purchase can be made for properties that were acquired in the past. However, there is a specific date limitation. The relevant date is January 12, 2017, when the regulation for citizenship through investment was introduced. Properties acquired before this date are not eligible under the citizenship through investment program.
To complete the citizenship acquisition process, the property's value must meet the legal threshold, and if it does, a certificate of conformity will be issued. According to current regulations, the real estate in question must be valued at 400,000 USD or equivalent foreign currency for the citizenship application.
When assessing the suitability of previously acquired real estate for citizenship, the regulations in effect at the time of purchase are considered. For example, if the property was purchased when the requirement was a value of 250,000 USD, but the citizenship application is made when the requirement is 400,000 USD, the evaluation will be based on the regulations in force at the time of purchase.
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