The Procedure of Obtaining
by Buying Real Estate
To acquire Turkish citizenship by real estate investment, there are steps that investor applicants must strictly follow. While following these steps, it is necessary to perform many transactions in more than one institution. In this article, we will explain you the steps to be followed in the citizenship application with the main titles and respectively.
1. Obtaining a Tax Registration Number
Applicants must obtain a tax registration number to open a bank account in Turkey and to be able to operate in public offices.
The tax registration number can be obtained from any tax office in Turkey or from the official webpage of the Interactive Tax Office, http://ivd.gib.gov.tr/. The foreigner's passport information is required for getting the tax number online.
2. Opening a Turkish Bank Account
In the acquisition of Turkish citizenship by property investment, the price of the purchased real estate must be paid through a bank operating in Turkey and this transaction must be documented with a bank receipt.,,
To open a bank account, an official document (invoice, address registration document, etc.) showing the foreigner's original passport, tax registration number and address is required.
Some banks may require foreigners to deposit some money at the opening of a bank account in accordance with their service policy.
3. Finding the Property and Real Estate Evaluation Report
To apply for citizenship by real estate investment, the purchased property must be at least 400.000 USD or equivalent in foreign currency. A separate evaluation report must be obtained before the sale of the immovable property that meets this requirement. It is obligatory to get the evaluation report in real estate sales to foreigners.
***If a citizenship application is to be made through a preliminary sales contract, the real estate subject to the contract must be at least 400.000 USD or equivalent in foreign currency and the property ownership or construction servitude title deed must be ready.
4. Purchase of the Real Estate
Real estate sales and title deed transfer processes are carried out in an official way in Turkey. This process is done in the Directorate of Land Registry and Cadastre affiliated to the Ministry of Internal Affairs.
For the Turkish citizenship application, the price of the purchased property must be paid through the bank and the receipt of this transaction must be obtained.
5. Obtaining the Certificate of Conformity
After the immovable property is purchased, an application for a certificate of conformity is made through the Directorate of Land Registry and Cadastre to determine that the property meets the requirements for Turkish citizenship application.
To obtain a certificate of conformity, the commitment that the property subject to the citizenship application will not be sold for 3 years must be annotated in the land registry records. The originals of the bank receipts showing that the sale price of the immovable property has been paid and the evaluation report are requested during the transaction.
***If a citizenship application is made through a promise of sale contract, the commitment that the contract will not be transferred or canceled for three years must be annotated in the land registry.