Achieving Turkish Citizenship Through Property Investment: Your Complete Guide

Turkey’s real estate market has become an appealing option for foreign investors looking for a profitable venture. One of the most enticing benefits of purchasing property in Turkey is the opportunity to acquire Turkish citizenship. Through the Turkish Citizenship by Investment program, foreigners who invest a minimum of $400,000 in real estate can apply for citizenship for themselves and their families in a relatively short period. This program not only offers the chance to own property in one of the most beautiful and diverse countries but also grants the benefits of Turkish citizenship, including travel freedoms and the ability to retain dual citizenship. In this article, we’ll walk you through the steps involved in acquiring Turkish citizenship via real estate investment, along with the process of purchasing property in Turkey.

Citizenship in Turkey

Purchasing real estate in Turkey has several advantages, one of which is the opportunity to apply for Turkish citizenship if you invest $400,000 or more. By making this investment, you and your family can obtain Turkish citizenship in a few of months. The Program for Turkish Citizenship through Investment Foreign investors can obtain Turkish citizenship under the Turkish Citizenship by Investment program by making a qualifying investment, such as buying at least $400,000 worth of real estate. 

But how do you make sure the property actually meets this value?

Get a Valuation Report

Before buying, a certified appraiser must assess the property’s value. The valuation report ensures that the property meets the financial criteria. This report must be issued by an appraisal company authorized by Turkey’s Capital Markets Board (SPK).

Register the Property and Note the Sale

Once the purchase is complete, your name will be officially registered on the property’s title deed. However, there's a catch—you're required to keep the property for at least three years, which will be noted on the title deed (called a "sales annotation").

Receive the Certificate of Eligibility

After gathering all the necessary documents (including the valuation report, title deed, and proof of payment to the seller), you need to submit them to the Land Registry and Cadastre Directorate under the Ministry of Environment, Urbanization, and Climate Change. They’ll issue a certificate proving that the property and sale meet the criteria for citizenship.

Apply for a Residence Permit

Before applying for citizenship, you’ll need to get a special residence permit for investors from the Directorate General of Migration Management. This permit is usually valid for at least one year and is an important step before you can apply for citizenship.

Apply for Turkish Citizenship

Once you have your residence permit, you can submit your application for Turkish citizenship to the General Directorate of Civil Registration and Citizenship Affairs. Along with standard documents, you’ll need to present your property’s title deed and the Certificate of Eligibility. After a background check focusing on national security and public order, your application will be sent for final approval.

Once your application is approved by the President, the process is finalized, and you’ll be officially recognized as a Turkish citizen!

The program provides a number of advantages: 

• Turkish citizenship, which includes the ability to live, work, and study in Turkey, is granted to the investor, their spouse, and any dependent children.
• Travel: Turkish nationals can enter more than 110 countries without a visa or with one upon arrival.
• Dual Citizenship: Investors can keep their original citizenship because Turkey permits dual citizenship.

What is the exact procedure for purchasing real estate in Turkey? 

Acquire a Yabancı Kimlik Numarası, or Foreigner Identification Number.

One of the most important identification numbers for foreigners in Turkey is the Foreigner Identification Number (YKN). Any major financial transaction, such as purchasing real estate, establishing utility services, or submitting taxes, requires it. 

The local Directorate General of Migration Management (DGMM) office in Turkey is where you can apply for a YKN. Usually, the application needs: 

A completed application; a valid passport; and an explanation for the YKN request (e.g., purchase of real estate). 

Typically, the procedure takes a few days to a few weeks.

Create a bank account in Turkey 

Managing the deposit, purchase price, taxes, and recurring utility payments associated with the acquisition of a property requires a local bank account.

The majority of banks will need:  Your passport, proof of income or work, your YKN, and sometimes a proof of address.

Locate the ideal real estate representative

The ideal real estate agent can help you identify properties that fit your specifications, negotiate prices, and offer insights into the local market.

Here are some tips to help you choose the ideal expert for your requirements: 

• Local knowledge: Seek out agents who have extensive knowledge about the area you are interested in. They ought to be informed on the distinctive features of the neighbourhood as well as real estate trends and costs.
• Language proficiency: It's crucial to choose an agent who can communicate well in your native tongue if you don't speak Turkish. They will serve as your point of contact for sellers, attorneys, and other process participants.
  Qualifications and experience: Verify the agent's credentials and experience.
• To confirm that the property is free of liens, encumbrances, or conflicts and that the seller has the legal right to sell, the Land Registry (Tapu ve Kadastro Genel Müdürlüğü) is essential. You can accomplish this by asking the Land Registry for a Tapu Senedi.
• Verify that the property conforms with regional urban planning and zoning regulations. For new construction or rural sites, where there may be limitations, this is especially crucial.
• While it is not required by law, it is strongly advised to perform a property survey in order to assess the property's physical state. This may reveal any problems with the land, utilities, or structural of the building.
• Sign the “Ön Protokol”, or preliminary contract. The purchase is secured by this initial contract between the buyer and seller (ön protokol), which normally requires a deposit from the buyer (usually 5–10% of the purchase price). It binds both parties to the deal and lays up the terms and conditions of the sale. The buyer can forfeit the deposit if they withdraw. Double the deposit must be returned if the seller withdraws.
• Complete any outstanding mortgage agreements. If you're using a mortgage to finance the purchase, finalise the conditions with your bank.
• Put your signature on the sale agreement (Satış Sözleşmesi) The last step is to transfer ownership by signing the deed of sale (satış sözleşmesi) in front of a notary. At this point, the customer is responsible for paying the remaining purchase amount as well as any applicable taxes and fees.
• Identification, evidence of deposit payment, the tax identification number (T.C. Kimlik Numarası), and any relevant mortgage information must be shown by both parties.
• Register the property: The new owner must register the property at the local Land Registry (Tapu ve Kadastro Genel Müdürlüğü) after signing the deed. For legal protection, this step is crucial.
• Pay the relevant taxes and fees:  For new properties, buyers must pay the VAT (KDV) and title deed transfer tax (Tapu Harcı), in addition to notary and register expenses. The overall cost may vary from 4% to 7% of the purchase price, depending on the area.

With the correct advice, purchasing real estate in Turkey may be a straightforward and profitable procedure. It's a fantastic chance to invest or just to experience a different way of life. 

The following are some excellent sources of official information: 

• Turkish Ministry of Foreign Affairs: For details on tax identification numbers and residency permits.
• To verify the legal status of property, consult with the Tapu ve Kadastro Genel Müdürlüğü (Land Registry).
• For information on taxes pertaining to real estate transactions, contact the Turkish Ministry of Finance, Türkiye Cumhuriyeti Maliye Bakanlığı

Conclusion

Investing in property in Turkey offers more than just financial returns—it’s an opportunity to secure citizenship and enjoy a wealth of benefits, including visa-free travel to over 110 countries and the ability to live, work, and study in Turkey. With the right guidance and understanding of the legal and financial procedures, the process of purchasing real estate and applying for citizenship can be seamless. Whether you’re looking for a second home, a vacation getaway, or a long-term investment, Turkey provides a range of options to suit every need. Ensure that you follow the required steps, consult with professionals, and make informed decisions to make the most out of your investment in Turkey.