CITIZENSHIP BY INVESTMENT
Owning real estate in Turkey gives the legal right to the owner and his family to obtain Turkish citizenship if the cadastral value of the property is over $400,000. That is, this price must be indicated directly in the title deed (TAPU). If you purchase real estate with a market value of $400,000, and the price is lower in TAPU (this applies to the secondary market), you cannot obtain citizenship under this document. We advise you to be careful and find out in advance the price that is indicated in the document.
What to do in this case?
If you are not afraid of additional waste, then the problem is solved. Here it is necessary to conduct an additional examination and align the cadastral value with the market value.
When buying a primary property from a developer, the cadastral and market values most likely coincide, and additional expertise may not be required in this case.
Turkish citizens, when buying a property, most often leave the cadastral value as it is indicated in the TAPU, as this allows them to pay less tax. If you are purchasing real estate specifically for the purpose of obtaining citizenship, this option will not work.
Also, in order to obtain Turkish citizenship, you cannot buy an object that was previously purchased for the same purpose.
RESIDENCE PERMIT FOR THE PURCHASE OF REAL ESTATE
When purchasing real estate in Turkey for less than $400,000, you have the right to obtain a Turkish residence permit (residence permit in Turkey, ikamet). The minimum purchase amount for large cities is $75,000, for smaller cities – $50,000.
As a property owner, you can renew your residence permit every 2 years, and after 5 years you can apply for Turkish citizenship by TAPU. There is a nuance here. If you purchase real estate in order to obtain a residence permit under TAPU, you need to live exactly at the address indicated in your TAPU.
If you are planning to buy real estate in order to obtain a Turkish passport or residence permit and still have not made your choice, feel free to contact us! The manager of the HOME AREA PROJE company will select the most suitable properties for you, then our lawyers will help you collect all the necessary documents both for the sale and for obtaining a Turkish passport or residence permit.