Real Estate News
- 15.03.2019 Palestinians Entitled to Buy a Property in Turkey with Travel Document
- 17.01.2019 Trabzon Homes Received Award Plaque by K-Tech Team
- 01.12.2018 The Digital Age Begins for Title Deed in Turkey
- 24.09.2018 Trabzon Homes Launched Trabzon Homes Website
- 01.10.2018 Our Spain Office Opened in Málaga, Spain
Conditions of Turkish Citizenship Became Easier
According to new regulations published in the Official Gazette on 19.09.2018, Turkish citizenship conditions have changed. The government has eased to become a Turkish citizen for foreigners. With the new regulations, the investment and real estate purchase value determined to be citizens has been reduced considerably.
The minimum limit of fixed investments to acquire Turkish citizenship for foreigners has been reduced to 500.000 $ from 2.000.000 $. Foreigners who own property worth of 250.000 $ instead of 1.000.000 $ can avail Turkish citizenship of the right. Also, the number of workers to be employed to qualify for Turkish citizenship has been decreased from 100 people to 50 people.
Within the Ministry of Interior, a commission will establish on the purpose of following the process consisting of Ministry of Industry and Technology, Ministry of Family, Labor and Social Services, Ministry of Environment and Urbanization and Ministry of Treasury and Finance. Thanks to this commission, all process will finish as soon as possible. All regulations will become definite a few weeks later about Turkish citizenship.
Under the new conditions and amendments, foreigners could qualify for Turkish citizenship if they meet any one of the criteria. New conditions are as follows;
• Detected by the Ministry of Environment and Urbanism to buy property worth 250.000 $ provided that registered in the Title Deed Registry and not be sold for three years
• Detected by the Ministry of Economy to make the fixed capital investment in the amount of minimum 500.000 $,
• Detected by the Banking Regulation and Supervision Agency to open a bank account of minimum 500.000 USD in banks operating in Turkey and keep your money for at least three years in this bank,
• Detected by the Undersecreteriat of Treasury to purchase State debt in the minimum worth 500.000 $ provided that such instruments are kept for three years,
• Detected by the Ministry of Labour and Social Security to certify that at least 50 people are employed in a Turkish company owned by the foreigner.