We would like to remind you that the Turkish presidency cabinet meeting held on April 12th, 2022, brought a new amendment of the Turkish citizenship law. In fact, the reformulation of Turkish citizenship by real estate conditions was one of the most significant resolutions. The cabinet decided to increase the property value to apply for Turkish citizenship through real estate investment from 250,000$ to 400,000$.
However, decree number 5554, published on the evening of May 12th, brought the Turkish citizenship amendment update.
Turkish Citizenship Amendment Update: The Investment Value Raised Officially
Turkey has increased the Turkish citizenship investment amount to $400.000. It was according to an oral declaration by the Ministry of Interior last month. Consequently, at that time, there was not any explanation regarding the entry into force of the Turkish citizenship amendment. Yet, decree number 5554 announced the adjustment of Article 46 of the Turkish Citizenship Law No. 590. It was published officially in the official gazette of the Turkish republic on May 12th, 2022.
Consequently, the Turkish citizenship amendment update brought an explanation regarding the regulation application date. The published decree declares that the reform will be operative on 12/06/2022.
We should remind that this is the second Turkish citizenship amendment regarding the investment value. In fact, the Turkish government changed the cost previously on September 2018 and reduced it from 1,000,000$ to 250,000
The Turkish Citizenship reform Involves The New Buyers
The Turkish citizenship amendment was declared in decree number 5554. It didn’t include an additional explanation regarding the execution limits of the regulation. This refers to conclude that the new regulation involves all the property sales in Turkey after the mentioned date.
However, investors are curious to know if it will concern the title deeds issued after June 12th. Or it will also include the Turkish citizenship applications after that date.
So it is good to mention that this can be the last chance for foreign investors to get Turkish citizenship for only 250,000$.
Moreover, the decree didn’t mention any other updates. This means that the other conditions are still valid. For instance, we should remind one of the most important conditions; The foreign investor must hold the property and not sell it for 3 years.
You can find further information regarding Turkish citizenship by real estate investment on the following page.
Investing in Many Properties To Get T.C By Real Estate
The Turkish citizenship amendment still allows the purchase of multiple properties. Foreigners who purchase several properties with a total value of at least 400,000 US dollars are eligible for Turkish citizenship by real estate. The properties can be different in type and situated in different locations.
According to the new directives, the Inteiror Ministry will not accept naturalization petitions if the overall real estate value reported to the Land Registry Directorate does not reach at least 400,000 US dollars.
If you are interested in Turkish citizenship by real estate investment, Property Advisor Turkey experienced team will offer you a full-service advisory. If you seek properties for sale in Turkey, Property Advisor Turkey consultants will assist with and suggest a rich portfolio of high-quality properties. Please take a look at our services.
For any further information don’t hesitate to contact us.