AMENDMENT GRANTING A RIGHT FOR EXCEPTIONAL CITIZENSHIP IN EXCHANGE FOR REAL ESTATE PURCHASE THROUGH PRELIMINARY SALES CONTRACT IN FORCE NOW!

24.12.2018

 

Foreign citizens are free to purchase a house anywhere in Turkey on condition that it is not located in a military zone. Within the scoe of the article 20 of the regulation concerning the Law on Turkish Citizenship, it is even possible to obtain an exceptional Turkish citizenship through purchasing a real estate in Turkey.

In addition to this, the relevant legal regulation determines the purchase amount threshold concerning the value of real estate to be purchased. The purchase threshold in granting citizenship through purchasing a real estate has been decreased from 1 million USD to 250.000 USD or its equivalent in TRY.

Accordingly, foreign citizen can obtain citizenship through acquisition of real estate amounting to 250.000 USD in Turkey by affixing an annotation to title deed registers that this real estate will not be sold for three years.

According to the current amendment published on the Official Gazette on 6 December 2018 concerning the regulation on implementation of the Law on Turkish Citizenship, new regulations have been brought in order to facilitate the acquisition of citizenship.

As per this amendment, “preliminary sales contracts” which have not been clearly permitted before, will be deemed to be “real estate purchase” which will cause an exceptional citizenship right.

Within this scope; foreigners will be entitled to Turkish citizenship on condition that notarized preliminary sales contract is annotated to the title deed register in order not to transfer or cancelled for three years concerning the real estate which has been purchased in cash in the amount of 250.000 USD at least or its foreign currency equivalent or Turkish Lira equivalent, or flat ownership or construction servitude has been established.

By this amendment, a notarized preliminary sales contract in advance on a real estate amounting to 250.000 USD or its equivalent in Turkish Liras will be sufficient in order to obtain a citizenship right upon an annotation before the title deed register for not transfering and cancelling for 3 years.