On 19.09.2018 The Turkish Government passed a law which defined six different options on how foreigners and their families can obtain Turkish Citizenship through investment. Foreign investor's spouse and children under the age of 18 are also eligible to apply for citizenship. The application process must be followed up with different authorities and correct documentation must be presented.
Within this scope, foreign investors will need to fulfill the following requirements:
- Purchase real estate of at least 250.000 US Dollars or equivalent foreign currency or equivalent amount of Turkish Lira.
- The expertise value and the sales price of the property should match and be over USD 250.000. The research should be done before the purchase for smooth transaction.
- Attachment of annotation at Land Registration not to sell this property for three years.
- Obtain certificate of conformity from the Ministry of Environment and Urbanization.
Cosmo Consulting Services:
- Location Search
- Safe environment for you and your family
- Demographics
- Traffic, parking space
- Access to public transportation
- Access to airports
- Proximity to Schools, Hospitals and Hotels
- Availability of social and recreational activities (Restaurants, Shopping, Parks, Cultural Activities)
- Property Search
- Check walking and driving distances from points of interests.
- Marking of actual location on Google Maps.
- Verify quality and standard of equipment and material.
- Check for renovation requirements.
- Expertise Report (By Government approved firms).
- Certificate of Title searches.
- Preparation of agreements.
- Location Sale Price Graphics.
- Location Rental Price Graphics.
- Searches of government departments and local authorities (which should cover issues like public rights of way, compulsory purchase orders and enforcement notices).
- Calculation of Cost of Sales.
- Calculation of Property Management Costs.
- Calculation of Tax Costs.
- Property Purchase & Legal Procedures
- Selection and appointing of Lawyer (if required).
- Opening bank account.
- Land registry extract showing that there is no encumbrance (mortgage, lien etc…) or annotations on the property in favour of any private or public party.
- Preparation and certification of legal documents.
- Stamping of required documents.
- Calculation of adjustments of rates and taxes.
- Preparation of settlement statements.
- Transfer of payments.
- Attend settlement process at Land Registry.
- Application Procedures
- Selection and appointing of Lawyer.
- Preparing application forms.
- Gathering all documents needed for application.
- Attachment of annotation at land registration not to sell this property for three years.
- Obtain certificate of conformity from the Ministry of Environment and Urbanization.
- Preparation and certification of legal documents.
- Apply and follow through the process until the application is approved and the passport is issued.