Turkey has become one of the preferred countries by foreigners to settle down because of the rising economic development. There is a sharp increase in immigration applications throughout the year. One of the prerequisites before applying for Turkish citizenship is that you need to purchase a property.
As per the Turkish constitution, an adult of 18+ years can book property to get citizenship via real estate investment mode. However, buying a property is not an easy decision even in the home country where you reside. So buying it a foreign country needs lots of legal and financial assessment.
The regulations are many. Any foreigner who fulfills those criteria is liable for citizenship. If you want to buy a property in Turkey; here are 5 factors to consider before you finally decide to invest.
The Minimum Investment Limit:
Only when you buy a house, you are granted citizenship. The minimum investment amount has been reduced to $250,000 in 2018. The property value you own must be of $250,000.
The Selling Limitation of Your property:
You cannot list your property for sale for the first three years. Failing to this will attract revision of your citizenship.
Manage The Currency Difference:
Any investment other than dollar is allowed but it should be equivalent to $250,000. The currency value is determined on the day of investment.
The Location Of The Property:
One cannot own property near any security area or near army settlement camps.
Time of Buying The Property:
There is no such special time to buy it. You can purchase it anytime during the year. If you want to buy multiple properties, you don’t need to buy them all at once.
Elmaslar real estate advisors are there to help you with the procedure. Visit our website or contact us for more details on the immigration process.
