Requirements For Real Estate Investment

• Applicants are required to buy a real estate in turkey which is worth a minimum of 250,000 US dollars or the same amount in foreign currency or Turkish lira by attaching annotation to the title deed registry that it will not be sold within the first three years after the purchase. Or applicants must commit to purchase the real estate, which is worth a minimum of 250,000 Us dollars or the same amount in foreign currency or Turkish lira with condominium and construction servitude cost paid in advance, by a real estate preliminary contract for sale before notary and annotate to the title deed that this contract cannot be handed over or canceled for three years. The criteria for the monetary amount can be met by single or multiple real estate in accordance with the provisions of the law.

• The commitment that the applicants will keep hold of the real estate(s) they purchase for at least 3 years shall be attached to the title deed and/or notarized sales contract; the annotation to the land registry should be determined by the ministry of environment and urbanization.

• The value of the real estate(s) will be determined through an official assessment by the valuation companies announced by the bank regulation and supervision agency (BRSA). the value of the property/properties must be at least 250,000 US dollars in the real estate valuation report.(the date of issue of this real estate valuation report  cannot be later than three months before the date of application for citizenship . the valuation report shall be deemed valid until the transaction between the bank receipt for proof.

• The officially declared value of the real estate(s) must be minimum 250,000 US dollars at the time of the notarized sales contract and/or of its ownership transfer at the land registry office. In determining the monetary value of the effective exchange rate and/or cross foreign exchange rate at the time of valuation with prevail.

• The real estate(s) that will be purchased cannot be registered under any foreign real person’s name including the applicant’s spouse and children. Furthermore, the real estate(s) cannot be one that was transferred after any foreign real person. In addition, the real estate subject to purchase must not be one of the real estate registered in the name of the company to which the foreign real person is the partner or manager.

• In case the real estate is purchased with a mortgage loan or is subject to mortgage by any means, the mortgage value will be deducted from the total value of the real estate given in the valuation report and the remaining amount will be valid. (For this reason, it is important to clean the mortgages that have been paid off but not cleaned from the title deeds registry office before the report is prepared.)

• The application will be sent to the ministry of internal affairs, General Directorate of population and citizenship affairs, I foreigners department via the ministry of the environment and urbanization, land registry office.