Following an amendment that has come into force on 19 September 2018 and regulated in June 2021, foreigners who purchase or invest in a property worth a minimum of $400,000 USD can acquire Turkish Citizenship. There are specific points to be considered when purchasing the property.
The property’s tax excluded price must be at least 400,000 USD. These tax returns are filed every four years, and the rates range between %0.1-0.3.
Even though the payment is made in USD, the price will be in Turkish Lira on the title deed. The exchange rate will be according to the current day’s effective selling rate of official Turkish Central Bank.
The Title Deed (TAPU) is a legal document executed and acknowledged under the government seal and in the presence of an official authority. It evidences the right of ownership to a property.
Therefore, the title deed owner and the citizenship applicant must be the same person.
The purchased property must be from a Turkish citizen or a Turkish company established in Turkey. Properties bought from foreigners will not be acceptable.
The payment must be done via bank transfer exclusively from foreigners’ personal bank account to the sellers bank account and both sellers and buyers bank receipts documented and stamped by the relevant banks will be required in order to prove that the bank transfer is made. If you have a bank account in a Turkish bank, you can make the transfer from that account as well.