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BLOG Buy Property in Turkey and Qualify for Turkish Citizenship – Here’s How

29 June 2020 / Properties

For some people, the chance to acquire Turkish citizenship alongside the home of their dreams is an irresistible opportunity. Whether you’re travelling back and forth to a holiday home, plan to rent out your property or live in Turkey full-time, holding a Turkish kimlik (keem-lick) brings several advantages. And the good news is, it’s pretty affordable.

When the Turkish citizenship for investment scheme was first launched, buyers needed to invest an eye-watering $1 million in property. Since September 2018, this has dropped dramatically – now, the buy-in is just $400,000. Please note the $400,000 minimum threshold has been increased in 2022 from $250,000 previously.You need to commit to owning the property for three years, but after that a Turkish passport can be yours.

More incentives to buy

As well as being eligible for citizenship with a vastly reduced spend, there are other benefits. The buyer’s immediate family can also take Turkish citizenship after the initial three-year period, helpful if you plan to move here full-time.

You also qualify even if you never plan to live in your property. This makes it especially attractive to anyone seeking to invest in a holiday rental but who might be considering living in Turkey at a later stage, such as when they retire.

There are two other routes to qualify for a Turkish passport through the scheme, too. One is to invest the equivalent of $500,000 in a Turkish company, while the other is to deposit the same amount in a Turkish state investment programme or bank for a minimum of three years.

On hand to help

The new rules resulted in a surge of interest from buyers keen to invest in property in Turkey and qualify for citizenship. In 2019 alone, we helped 78 clients with their citizenship applications through our parent company, Turkey Homes.

We have a wealth of experience at every stage and our five-step plan takes all the stress out of the process. All the buyer needs to do is decide exactly where they’d like their property to be – should it be an apartment in Side or a villa with an infinity pool in Kalkan?

  • Find the right property for $400,000

Or you might decide to buy in more than one – the Antalya region has some very affordable areas. You could purchase a home for yourself and a property to rent out to holidaymakers, or you might want to go for something really special. The important thing is your total investment must be at least $400,000 on properties that have their title deeds (TAPU) in place – so already built or nearing completion.

  • Appoint a lawyer

You’ll need a solicitor to oversee your citizenship application. We can recommend several multi-lingual lawyers, making sure you find someone you’re happy to work with. As well as having your best interests in mind, they’ll deal with the paperwork and generally hold your hand throughout. It will typically take around six months to make the application.

  • Arrange the checks and surveys

A government surveyor will need to survey the property you decide to buy and will also compare the price you’re paying against the sum shown on the title deeds. You don’t need to worry about this – our agent will make all necessary arrangements and oversee everything.

  • A charge is placed on your property

A condition of your Turkish citizenship being granted is that you don’t sell the property for at least three years. Once your application is accepted, this becomes an official charge on the title deeds. Once the three-year period is up, this can be removed.

  • Enjoy being a Turkish citizen

After three years, citizenship is granted to the investor, their spouse and any children aged below 18. Once your application is submitted it usually takes three or four months for it to be processed; your lawyer will be able to explain the timescale in full. The charge on your property is lifted, allowing you to sell it if you wish. You can now enjoy all the advantages of citizenship, including being able to work freely and access to Turkey’s excellent healthcare system.

Interested in investment for citizenship?

If you’d like to know more about the investment for citizenship scheme in Turkey, we’re always happy to discuss it with you so feel free to get in touch. Please note, the citizenship via investment scheme is primarily introduced in marketing new built apartments in Istanbul registered after 2019. Therefore generally speaking the coastal properties will not be eligible for this scheme. One of the main reasons for non-eligibility is, in coastal areas sellers and smaller local developers tends to declare the lower asssessed value on their title deeds irrespective of the market price. 

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