Necessary Conditions for Turkish Citizenship Application with Real Estate InvestmentReal Estate Turkey
As is known, interest (b) Regulation and interest (a) Article 20 of the Regulation has been amended. It is possible to get Turkish citizenship as exceptional for foreign natural persons who are determined by the Ministry of Environment and Urbanization, provided that the property isn’t sold to the land registry records of at least $ 250,000 for three years with the subparagraph of 2 of the mentioned article.
In this context;
- It was accepted by the CMB for the determination of the amount specified in the said article in the applications for the sale of the immovable made to benefit from the said regulation. And as soon as the valuation specialist with a valid license shows the market value prepared in accordance with the valuation standards, the valuation report is sought.
- The market value of the real estate appraisal report shows located in amounts based on the real / US dollar denominated value of real property, the date of the transaction is calculated based on effective selling rate of the Central Bank of Turkey.
- There is a condition to be between the date of 12.01.2017 when the regulation was amended and the effective date of this instruction. In the event that more than one immovable property is obtained by the same person whose value is specified in the relevant article or above, the value of the price in the official deed of each immovable on the date of sale is based on the effective sales rate.
- The foreign real person who bought the real estate in the official deed to be issued; Stating that within the scope of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, it has committed to not sell these immovable property / immovable properties acquired for the acquisition of Turkish Citizenship for a period of 3 years and it will not be sold to the registry of the Real Estate within three years from the date of acquisition. The declaration, by stating that he wants to be made, should be included in the declarations section; It is stated that there is a commitment that it will not be sold within three years from the date of acquisition within the scope of Article 20 of the Regulation on the Application of the Turkish Citizenship Law.
- In the event that the owners of the immovable properties that have been purchased within the date of the enforcement date of 12.01.2017 and the date of entry into force of this directive and which don’t have an indication that they will not be sold in the official statement for 3 years, the registration request document of the relevant person is requested is committed. It is stated that the immovable property has a commitment to the declaration section that it will not be sold within three years from the date of Acquisition within the scope of Article 20 of the Regulation on the Application of the Turkish Citizenship Law.
- If the same person has made a request for more than one property whose values are specified in the related article or corresponding to a higher amount, provided that it is on the same date within the scope of article 20 of the Regulation on the Application of the Turkish Citizenship Law, within the scope of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law ”there is a commitment that will not be sold”. Concern (b) For the immovable property/ immovable properties received on the date of 12.01.2017, the date of the amendment of the regulation, and the date of entry into force of this instruction, the condition of being purchased with the same journal will not be required.
- Within the scope of the aforementioned Regulation, in case of the abandonment of the mentioned declaration in the applications to be made after the expiration of the three-year period specified in the declaration to be made in the declaration, if the person is asked to leave the Turkish citizenship within 3 years from the date of the declaration, it is checked from the central civil registration system records and;
a- If the owner is registered as a Turkish citizen in the system, the rejection of the request and the preservation of the indication until the end of the three-year period,
b- If it isn’t registered, it is necessary to direct the operations according to the answer to be received by asking whether the annotation will be abandoned from the General Directorate of Population and Citizenship Affairs.
- Real property acquisition limited to the establishment of annotations such as foreclosures and measures on immovable properties acquired in this way is possible. In the event that the immovable has changed hands within the three-year period without the consent of the owner for various reasons, the situation is immediately reported to the General Directorate of Population and Citizenship Affairs.
- The valuation reports submitted regarding the requests under this instruction must belong to the year of the transaction. In the event that the transactions regarding the applications made at the end of the year aren’t completed in the application year, the revaluation rate announced by the Ministry of Finance is applied to the reports submitted.
If the amount in the real estate valuation report based on the sales transactions within the scope of this Instruction is lower than the real estate tax base value determined for the year of acquisition by the municipalities in accordance with the provisions of the Property Tax Law No. 1319, title deed fees are collected at this value.
- Following the completion of the transaction, the title deed sample containing the indication is given to the relevant person.