Citizenship In Return For Ownership Contract: Significant Amendment to the Turkish Nationality Law
2020-04-14
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In the context of a new amendment directly affecting the interest of anyone wishing to invest or own properties in Turkey, the Turkish Official Gazette published a new amendment to the terms of granting Turkish citizenship to foreigners in for buying a property.
According to the new amendment published in the Official Gazette on Friday 06/12/2018, a foreigner can apply for Turkish citizenship by buying a property that is under construction, after it was limited to complete of ready properties only!
This is in the case of buying a property in cash within the uncompleted residential project projects worth not less than 250 thousand US dollars, or the equivalent in Turkish or hard currency, by submitting the contract of purchase to the notary.
The foreigner is required not to sell the property he buys within 3 years and to pledge to the Real Estate Registry Department not to transfer his ownership to other persons during the said period. The following is a copy of the decision published in the Official Gazette.
Edited by: Imtilak Real Estate ©
Source: Turkish Official Gazette
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