TURKISH REAL ESTATE, PROPERTY AND TURKISH CITIZENSHIP LAW
TURKISH REAL ESTATE, PROPERTY AND TURKISH CITIZENSHIP LAW
In the two last decades the Turkish real estate investments started booming especially in Istanbul and nearby cities of Marmara Region such as the surroundings of new Istanbul Airport and Canal Istanbul, District of Arnavutköy, City of Yalova, Izmit (Kocaeli) Sakarya (Adapazari) and Bursa. However due some issues in construction business and effects of COVID 19 Turkish property sector is a bit slowing down.
Turkish property lawyers and Turkish real state solicitors at Kaya & Partner provide relevant information to clients principally in the area of Turkish property and Turkish construction law in Marmara Region including İstanbul, Arnavutkoy, The Canal Istanbul areas, Yalova, İzmit (Kocaeli) Sakarya (Adapazari) and Bursa.
Turkish property lawyers and Turkish real state solicitors at Kaya & Partner make sure that buyer and customers understand the advantages and risks while they are investing in property (real estate) in Turkey.
Our Turkish Property And Turkish Citizenship Services
We , Turkish property lawyers and Turkish real estate solicitors represent and assist clients including legal entries, incorporation and real persons in transfer of title of deed as well as
• Independent Local Surveyor
• Due diligence on the property itself and the real estate agencies.
• Dealing with purchasing Turkish real state property contracts,
• Concluding the purchase and/or sale of property
o Representing client before Turkish Notary Public and Turkish Title Deed Office called TAPU in Turkish, Municipalities, local counsels called Belediye in Turkish.
o Completing all necessary registrations
Providing legal advices on landlord-tenant disputes
• Advice on Turkish litigation and Financial matters
Transferring Turkish property title on the inherited person, next to kins and obtain decree from court for inheritance certificates
Purchase Turkish Property
Our Turkish property lawyers , Turkish real state solicitors and Turkish property consultants have handled a wide variety of transactions, including all aspects of joint ventures, sale and purchase of land, buy and sell hospital, lands, Turkish petrol gas station, hotels, commercial, industrials factory, retail shops , mega markets, long leasehold contracts, construction loans and lease of residential and commercial properties.
We are, Turkish property lawyer , Turkish real state solicitor and Turkish property consultant in close contact with local Turkish real state agencies and title deed offices. In addition, we provide advise to our private clients when purchasing property in Turkey and abroad.
Getting Turkish Citizen by Buying Property and How to Apply citizenship?
Regulation regarding implementation of “the Law for Turkish Citizenship” specifying requirements for foreigners to acquire Turkish citizenship, was amended by the presidential decree in 2018. The decree said that the fixed capital amount required to apply for citizenship was reduced from US$ 2 million to US$ 500 thousand. According to the new regulation foreigners who own real estate in Turkey worth a minimum of US$250,000 (instead of US$1 million) can apply for Turkish citizenship. The expression “providing employment to at least 100 persons” which is among the conditions of eligibility for Turkish citizenship, was changed as “50 persons”. The amount of deposit to keep in banks in Turkey to acquire citizenship was also reduced from US$ 3 million to US$ 500 thousand.
On the other hand, foreign investors should hold the properties or continue the minimum limit of financial investments for at least three years to meet the criteria for Turkish citizenship.
A Foreign Person That Meets Any of The Below Conditions May Acquire Turkish Citizenship:
- A foreign person who has made a fixed capital investment amounting to at least USD 500,000 and where such investment has been determined by the Ministry of Economy,
- A foreign person who has acquired an immovable amounting to at least USD 250,000 on the condition that an annotation has been put to the title deed stipulating that the immovable will not be sold for three years and where such acquisition has been determined by the Turkish Ministry of Environment and Urbanization,
- A foreign person who employs at least 50 persons and where such employment has been determined by the Turkish Ministry of Labor and Social Security,
- A foreign person who has deposited at least USD 500,000 to a bank active in Turkey on the condition that such amount is kept in the account for three years and where such deposit has been determined by the Turkish Banking Regulation and Supervision Agency,
- A foreign person who has acquired Turkish Government debt securities amounting to at least USD 3,000,000 on the condition that such amount is kept for three years and where such acquisition is determined by the Under secretariat of Turkish Treasury.
Requirements For Foreigners Who Buy Property In Turkey To Apply For Citizenship
- Purchasing a property worth min. US$ 250.000
• Payment of concerned amount by Bank transfer
• Keeping the property for minimum 3 years
Kaya Partner Hukuki Danışmanlık
Lawyers – Rechtsberatung