ACQUISITION OF CITIZENSHIP BY FOREIGNERS

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Today, citizenship has been used as a tool to encourage foreign investment and to serve the labor and economic policies of states, and regulations have been made in many countries on the acquisition of citizenship through investment.

In Turkey, the term “foreigner” is defined in three categories in terms of real estate acquisition

-Foreign natural persons,

-Foreign legal entities,

-Turkish companies with foreign capital.

-Article 35 of the Land Registry Law No. 2644 sets forth the provisions on the acquisition of real estate by foreign real or legal persons. Article 36 sets forth the provisions on companies with foreign capital.

-Countries whose citizens have the right to acquire real estate in Turkey are determined by the Council of Ministers and the Council of Ministers may impose special conditions on the acquisition of real estate if deemed necessary.

Conditions for Acquiring Citizenship

-With the subparagraph (b) added to the first paragraph of Article 12 of Law No. 5901 on July 28, 2016;

-Those who invest in the scope and amount determined by the President and obtain a residence permit in accordance with subparagraph (j) of the first paragraph of Article 31 of Law No. 6458.

-Turquoise Card holders.

-They can acquire Turkish citizenship with the decision of the President of the Republic of Turkey.

-On September 18, 2018, the scope and amounts determined according to the new regulations published in the Official Gazette are stated below and foreigners who meet any of the following conditions can acquire Turkish citizenship with the decision of the President of the Republic of Turkey.

-To be determined by the Ministry of Industry and Technology to have made a fixed capital investment of at least USD 500,000 or its equivalent in foreign currency.

-It has been determined by the Ministry of Environment, Urbanization and Climate Change that it has acquired real estate amounting to at least USD 400,000 or its equivalent in foreign currency, provided that the title deed records are annotated not to be sold for at least three years.

-To be determined by the Ministry of Labor and Social Security to have created at least 50 jobs.

-It has been determined by the Banking Regulation and Supervision Agency that he/she has deposited at least USD 500,000 or its equivalent in foreign currency in banks operating in Turkey, provided that he/she has kept the deposit for at least three years..

-It has been determined by the Ministry of Treasury and Finance that it has purchased government bonds amounting to at least USD 500,000 or its equivalent in foreign currency, provided that it is held for at least three years.

-It has been determined by the Capital Markets Board that the Capital Markets Board has purchased real estate investment fund shares or venture capital investment fund shares amounting to at least USD 500,000 or its foreign currency equivalent, provided that they are held for at least three years.

-To have been determined by the Insurance and Private Pension Regulatory and Supervisory Authority to have invested at least USD 500,000 or its foreign currency equivalent in the private pension system, provided that they keep their contributions in funds whose scope is determined by the Insurance and Private Pension Regulatory and Supervisory Authority and stay in the system for at least three years.

Things to Know for Foreigners Wishing to Acquire Real Estate in Turkey

-The acquisition of real estate title deeds in Turkey is only approved through registration at the land registry offices.

-Real estate pre-contracts issued by notaries or made in writing with real persons do not constitute the transfer of real estate by themselves. Pre-contracts only serve as a commitment for the transfer of ownership and the immovable property in question does not change hands through such documents.

-There may be encumbrances such as mortgages, liens and similar types of encumbrances that may prevent the sale of the immovable property in question, and these should be checked before the transactions are initiated at the relevant land registry office.

-Inquiries related to immovables parselsorgu.tkgm.gov.tr, where province, district, neighborhood/village, plot and parcel information can be used to query the real estate. Thus, basic information about the real estate, including its current status, can be accessed online from anywhere in the world. However, the personal information of the owner cannot be accessed.

-Foreign citizens are not required to have a residence permit as a prerequisite for acquiring real estate in Turkey. In addition, foreigners who purchase real estate in Turkey are granted renewable short-term residence permits in accordance with Law No. 6458 on Foreigners and International Protection.

-A natural or legal person intending to acquire real estate in Turkey must apply to the General Directorate of Land Registry and Cadastre together with the owner of the immovable. They can also make an appointment without having to visit the offices of the directorate in person by calling the Alo 181 Call Center, which is available twenty-four hours a day, or by visiting randevu.tkgm.gov.tr.

-On the other hand, Turkish companies with foreign capital must first apply to the Provincial Planning and Coordination Directorate (IPKM) in the governorate where the real estate is located. After receiving a positive response from the IPKM, they should apply to the Land Registry Office. These companies can apply in person, by mail or e-mail.

ACQUISITION OF CITIZENSHIP BY FOREIGNERS

Today, citizenship has been used as a tool to encourage foreign investment and to serve the labor and economic policies of states, and regulations have been made in many countries on the acquisition of citizenship through investment.

In Turkey, the term “foreigner” is defined in three categories in terms of real estate acquisition

-Foreign natural persons,

-Foreign legal entities,

-Turkish companies with foreign capital.

-Article 35 of the Land Registry Law No. 2644 sets forth the provisions on the acquisition of real estate by foreign real or legal persons. Article 36 sets forth the provisions on companies with foreign capital.

-Countries whose citizens have the right to acquire real estate in Turkey are determined by the Council of Ministers and the Council of Ministers may impose special conditions on the acquisition of real estate if deemed necessary.

​​​

​​​​Conditions for Acquiring Citizenship

​-With the subparagraph (b) added to the first paragraph of Article 12 of Law No. 5901 on July 28, 2016;

-Those who invest in the scope and amount determined by the President and obtain a residence permit in accordance with subparagraph (j) of the first paragraph of Article 31 of Law No. 6458.

-Turquoise Card holders.

-They can acquire Turkish citizenship with the decision of the President of the Republic of Turkey.

-On September 18, 2018, the scope and amounts determined according to the new regulations published in the Official Gazette are stated below and foreigners who meet any of the following conditions can acquire Turkish citizenship with the decision of the President of the Republic of Turkey.

-To be determined by the Ministry of Industry and Technology to have made a fixed capital investment of at least USD 500,000 or its equivalent in foreign currency.

-It has been determined by the Ministry of Environment, Urbanization and Climate Change that it has acquired real estate amounting to at least USD 400,000 or its equivalent in foreign currency, provided that the title deed records are annotated not to be sold for at least three years.

-To be determined by the Ministry of Labor and Social Security to have created at least 50 jobs.

-It has been determined by the Banking Regulation and Supervision Agency that he/she has deposited at least USD 500,000 or its equivalent in foreign currency in banks operating in Turkey, provided that he/she has kept the deposit for at least three years..

-It has been determined by the Ministry of Treasury and Finance that it has purchased government bonds amounting to at least USD 500,000 or its equivalent in foreign currency, provided that it is held for at least three years.

-It has been determined by the Capital Markets Board that the Capital Markets Board has purchased real estate investment fund shares or venture capital investment fund shares amounting to at least USD 500,000 or its foreign currency equivalent, provided that they are held for at least three years.

Things to Know for Foreigners Wishing to Acquire Real Estate in Turkey

-The acquisition of real estate title deeds in Turkey is only approved through registration at the land registry offices.

-Real estate pre-contracts issued by notaries or made in writing with real persons do not constitute the transfer of real estate by themselves. Pre-contracts only serve as a commitment for the transfer of ownership and the immovable property in question does not change hands through such documents.

-There may be encumbrances such as mortgages, liens and similar types of encumbrances that may prevent the sale of the immovable property in question, and these should be checked before the transactions are initiated at the relevant land registry office.

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Conditions for Acquiring Citizenship

-With the subparagraph (b) added to the first paragraph of Article 12 of Law No. 5901 on July 28, 2016;