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The decision to increase in Price Limit to Obtain Turkish citizenship will be valid next June

The decision to increase in Price Limit to Obtain Turkish citizenship will be valid next June

Past month, the Turkish government held a meeting to discuss the law Increase in Prices to Obtain Turkish citizenship. The buyer can get the citizenship in exchange for real estate investment from $250,000 to $400,000. Also, it was determined that the Turkish Official Gazette will announce the official date for implementing the law. On this basis, the Turkish Official Gazette published last Friday that the new law will be valid starting June 12, 2022.

The good news is that the chance to obtain Turkish citizenship for $250.000 is still available. As you can buy a house before officially validating the decision to Increase Prices to Obtain Turkish citizenship for $400.000. Catch the opportunity and don’t miss it!

Law of Granting Turkish Citizenship in Exchange with Real Estate Investment

It is worth noting that the law of obtaining Turkish citizenship in return for real estate investment was extracted for the first time in Turkey in 2017, and the amount of investment required to obtain citizenship was $1.000.000 before it was reduced in 2018 to $250.000.

Conditions for Obtaining Turkish citizenship through a Real Estate Investment in Turkey after the increase in Prices to Obtain Turkish citizenship

  1. Property Value must value $400,000 at least or the equivalent in Turkish currency. According to the exchange rate approved by the Central Bank of Turkey.
  2. Register the property in the Tapu Department, whether this property is ready or under construction.
  3. A Turkish Citizen or a Turkish construction company must be the seller of the property.
  4. Provide a Real Estate Appraisal Report from a Real Estate Appraisal company approved by the Turkish government.
  5. Undertake not to sell the property before (3) years.
  6. Pay the value of the property through a regular bank transfer. In this context, the Department of Foreigners Affairs in the Directorate of Land Registry and Real Estate Survey in Turkey issued a circular explaining the mechanism for obligating citizens of foreign countries wishing to purchase real estate in Turkey to pay the price of the property in foreign currencies and sell these currencies to the Central Bank of Turkey directly or indirectly.

To not miss the opportunity, Click Here to see the latest Istanbul Real Estate Projects. Allow us to guide you while choosing an apartment to buy to obtain your Turkish Citizenship before the new decision becomes valid.