Change in Turkish citizenship application
Exceptionally, the value of the real estate that must be purchased in order to apply for Turkish citizenship will be increased from 250 thousand dollars to 400 thousand dollars.
According to the information received, yesterday, the Presidential Cabinet chaired by President Recep Tayyip Erdoğan discussed increasing the value of the real estate that must be purchased for exceptional Turkish citizenship.
At the Cabinet Meeting, it was decided to increase the value of the real estate to be purchased for the application for exceptional Turkish citizenship from 250 thousand dollars to 400 thousand dollars.
Within the scope of this decision, it is envisaged to amend the "b" clause of the second paragraph of the 20th article of the Regulation on the Implementation of the Turkish Citizenship Law, which contains exceptional provisions regarding the acquisition of Turkish citizenship.
With the entry into force of this amendment by being published in the Official Gazette in the following days, those who purchased the immovable property worth at least 400 thousand USD or equivalent in foreign currency, provided that an annotation is put in the title deed records that it will not be sold for 3 years, and a condominium or construction servitude has been established, at least 400 thousand USD or equivalent in foreign currency. Those whose amount is deposited in cash and determined by the Ministry of Environment, Urbanization and Climate Change, to which the sale of the immovable has been promised, with a contract drawn up in the notary, provided that the undertaking not to be transferred or canceled for a period of 3 years is annotated in the land registry, will be able to acquire Turkish citizenship by the decision of the President.
Commenting on the new regulation, İNDER Chairman of the Board Nazmi Durbakalım said, “It is a good decision to increase the lower limit to 400 thousand dollars for those who want to acquire Turkish citizenship by purchasing real estate. Raising the lower limit for citizenship will be a positive development in many ways. Because every inch of our country's land and citizenship is very valuable in terms of geopolitics, history and nature. On the other hand, the money that those who want to have this value will pay will contribute more to our country's economy. In addition, it will be conducive to more qualified foreigners who will buy real estate from our country. Considering that 3 out of every 4 real estate sold in our country in recent years are for citizenship purposes, increasing the lower limit will not be of great importance for qualified and wealthy foreigners. In other words, it will not cause major deviations in the sales target to foreigners.