FAQ About Turkish Citizenship Acquisition
In this article, we would like to share with you some frequently asked questions about Turkish Citizenship Acquisition via property purchase.
We also did mansion in previous post about some of these steps and details. It is really important to follow up carefuly in order to complete all application process without having difficulty.
You can check out our previous posts in our blog here.
How can I appraise the value of the property required for citizenship at land registery?
For foreign investors, an appraisal report is essential in order to register the property in land registery. The sum of receipts evidencing payments must have a value equal to USD 250,000 according to the USD selling exchange rate of the Central Bank of Turkey on the date prior to the date of deposit. The amounts listed in the appraisal report and the official bill may not be less than the sum of values in the receipt.
How to appraise value if multipla receipts with different dates are presented (and paid in Turkish Lira) ?
On the basis of the effective selling exchange rate of the Central Bank of Turkey on the work day prior to the date when each receipt is issued must be USD 250,000.
The exchange rate of which date shall be considered for bank receipts evidencing payments?
In the event that the receipt is paid in Turkish Lira, selling exchange rate of the Central Bank of Turkey on the date prior to the date of payment shall be considered to calculate USD equivalent of the receipt amount.
How to appraise value if payments are made after the selling transaction?
Effective selling exchange rate of the Central Bank of Turkey on the date prior to the payment date for receipt and prior to the selling transaction for the value on the official title deed shall be considered. In that case, both values are required to reach USD 250,000.
Can a person acquire the property for a company in which he/she is a shareholder and apply for citizenship?
No, they can’t. The property to be acquired by foreign nationals through actual sale or a sale promise should not be registered to the title of the legal entity of the company that the real person owns or manages.
Does the seller of the property matter in the application for citizenship?
Properties sold or subject to a sale promise must be registered in the name of Turkish citizens. Furthermore, they should not be any properties transferred by a foreign real person after 12 January 2017. (Including self, spouse and children of the foreign person who acquires it)
In this post we listed some of the FAQ about Turkish citizenship acquisition via property purchase. For more information please contact us through our contact form, phone or email.
We provide free citizenship application service for our clients who purchase their properties by our service.
Estist Real Estate Sales Team