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Citizenship by Investment Update

Citizenship by Investment

Last Updated on August 29, 2023 by marie

Ideal Estaest, with its extensive experience in the construction and real estate industry, caters to both domestic and foreign real estate investors in Turkey. We provide services for the sale of housing and land, as well as investment consultancy. With a growing demand from foreign investors, we offer a diverse range of high-quality luxury portfolios. These attract investors from Europe, the Middle East, and Asia. Our portfolio includes a range of land and commercial properties, as well as real estate options for capital investors, to facilitate activities such as establishing a business in Turkey. Ideal Estates also provides support for Turkish passport applications and guides investors through all legal processes regarding citizenship by investment.

Changes to the Citizenship by Investment Law

The Turkish government has altered the regulations to receive citizenship by investment. The revised rules are as follows:

• Joint owner ship is not an option for citizenship application. A single individual must be listed on the title deed. As shared ownership rights with another person or entity will render the property ineligible for citizenship. However, if multiple owners transfer their rights to a single foreign individual, they may apply for citizenship if they hold full ownership.

• The purchase of multiple properties, including residences, lands, or farms – worth a total of at least 400,000 USD. Is allowed for the citizenship program. Previously they allowed for multiple notary sales contracts to reach the minimum amount, but the new law requires a single notary sales contract for the minimum purchase amount. Applications with multiple notary sales contracts will not be considered.

• Timeshares are not eligible for citizenship through investment, according to the new rules.

This amendment is effective from January 1st, 2023.

Ideal Estates’ goal is to make the process of buying or selling a property as stress-free and seamless as possible. So if you’re ready to find your dream property in Turkey, contact us today and let us help you make it a reality.

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