Foreign nationals who wish to obtain Turkish citizenship may acquire citizenship by purchasing real estate in Türkiye with a value of at least USD 400,000. The real estate must not be sold for at least 3 years after the purchase. In addition, an undertaking that the property will not be sold for at least 3 years is registered in the records of the Land Registry Office (Tapu Müdürlüğü). You can read our article explaining the details of the citizenship-by-investment program through real estate here.
Foreign nationals who wish to obtain Turkish citizenship by investing in real estate in Türkiye may have questions before making the investment about which properties are eligible for this program. In this regard, let us examine the criteria that the property to be purchased must meet.
These criteria can be examined under separate headings as follows:
PRICE CRITERION
The purchase price of the real estate to be purchased must be at least USD 400,000.
The first point to consider is that the value of the property must be assessed at USD 400,000 or more as a result of the property valuation. The properties to be purchased are valued by authorized valuation companies. Following the valuation, the relevant institution prepares a detailed report concerning the property. The first requirement is that the value stated in this report must be USD 400,000 or more.
Another requirement is that the investor must convert the purchase price of at least USD 400,000 into Turkish lira. The foreign currency is converted into Turkish lira through the investor’s bank in Türkiye. As a result of this transaction, the investor is issued a Foreign Currency Purchase Certificate (DAB – Döviz Alım Belgesi) confirming the sale of the foreign currency.
The original copy of this document bearing a wet signature and stamp is obtained from the bank, and the bank is requested to send the relevant document to the official email address of the Land Registry Office (Tapu Müdürlüğü) to which the property to be purchased is registered.
The final point to consider regarding the price criterion is that the purchase price converted into Turkish lira must be transferred to the seller’s bank account, and the investor must obtain a bank receipt bearing a wet signature confirming this payment.
In other words, it is confirmed that the foreign investor has selected real estate worth at least USD 400,000, sold an amount of at least USD 400,000 to the Central Bank of the Republic of Türkiye, and actually transferred this money to the seller.
SELLER CRITERION
The real estate subject to the sale must not be registered in the Land Registry records in the name of a foreign person. If the property is registered in the name of a natural person, that person must be a Turkish citizen. However, in some cases, being a Turkish citizen alone is not sufficient. If there is a first-degree family relationship between the foreign buyer and the seller who is a Turkish citizen, the sale does not comply with the requirements of the citizenship program.
In addition, real estate purchased from a Turkish citizen who is a natural person, or from companies whose owners are Turkish citizens, must not have previously been transferred to the seller by the buyer’s first-degree relatives. This is intended to prevent the fraudulent or bad-faith use of the citizenship program through transactions designed to circumvent its requirements.
Furthermore, real estate owned by a person who has previously obtained citizenship under the same program is also not eligible for the citizenship-by-investment program.
CRITERION THAT THE REAL ESTATE MUST NOT HAVE BEEN PREVIOUSLY USED FOR CITIZENSHIP PURPOSES
The real estate to be purchased must not have previously been used by another foreign national to obtain citizenship.
Accordingly, we can state that real estate meeting these criteria is eligible for the citizenship-by-investment program through real estate.
FREQUENTLY ASKED QUESTIONS
Who determines whether the value of the real estate to be purchased meets the requirements of the citizenship program? Is it sufficient for the sale price to be above USD 400,000?
The value of the real estate to be purchased is determined by authorized government institutions. The relevant property is subject to a valuation before the sale. As a result of the valuation, the value of the property is assessed from various perspectives and presented in a report.
If the value is above the prescribed threshold, the property meets the price requirement. If the valuation determines that the value is below USD 400,000, an application for citizenship cannot be made based solely on that property. In this case, another property must be purchased so that the total value exceeds USD 400,000.
Can I sell the property I purchased under the Turkish citizenship-by-investment program before the 3-year period expires? What are the legal consequences of selling the property before the 3-year period required under the citizenship program expires?
First of all, one of the conditions of the Turkish citizenship-by-investment program is that the property must not be sold for 3 years. An undertaking not to sell the property during this period is registered in the relevant property records. Nevertheless, the foreign owner may, if they wish, remove the restriction preventing the sale of their property during this 3-year period. After removing the restriction, they may also proceed with the sale of the property.
However, since the requirement not to sell the property for 3 years would not have been complied with, citizenship cannot be obtained. If citizenship has already been obtained, it may be cancelled due to failure to comply with this requirement.
What documents are required for foreigners purchasing real estate in Türkiye?
When purchasing real estate in Türkiye, foreigners first need a tax identification number. To obtain a tax identification number, they must provide the passport details of the passport with which they entered Türkiye. In addition, the foreigner’s passport must be translated and notarized. Two passport-size photographs are also among the required documents.
How can we determine whether the property being purchased is subject to any debt, mortgage, attachment, or restrictions in favor of third parties?
The records of real estate in Türkiye are maintained in the records of the Land Registry Offices. Upon an application by the seller, an examination can be carried out at the relevant Land Registry Office. The Land Registry Office can be used to check whether there are any registrations, encumbrances, or restrictions on the property to be purchased. Alternatively, the relevant records can also be examined by obtaining a “Takyidat Belgesi” (Certificate of Encumbrances and Restrictions) through the Webtapu system.
