Many Syrian citizens have recently acquired Turkish citizenship on an exceptional basis, which has created a big question in the minds of those wishing to obtain Turkish citizenship. Questions have been raised about the cases in which a person is entitled to Turkish citizenship on an exceptional basis.
This question is answered by the Turkish Nationality Act No. 9601 of 2009, which deals with the subject matter mentioned in Article XII.
Cases of exceptional Turkish citizenship:
Article 2, paragraph 1, of the Act provides that the Ministry of the Interior may propose to the Government the possibility of granting Turkish nationality to foreigners, provided that proposed names do not form a threat to the national security of the country.
The same article stated the exceptional cases of granting the Turkish Citizenship as flows:
- Foreigners who have or will have a significant role in granting Turkey exceptional service in sports, industrial, scientific, technological, cultural or artistic fields.
- Foreigners who must be granted citizenship.
- Foreigners who are accepted as refugees.
- The latter article often refers to a political refugee.
Number of Syrians holding Turkish citizenship:
"Turkey announces the number of Syrian citizens who are participating in the elections," the newspaper Anab Baladi said in its report. According to a report by the Anatolia Agency, Turkey has granted citizenship to 55,000 Syrians.
On the basis of the criteria considered and adopted for granting the citizenship to Syrians, the newspaper explained that the Turkish President, Recep Tayyip Erdogan, said that the criteria adopted in the granting of nationality to the Syrians are related scientific certificates and investment capabilities.
Real Estate Investment and Nationality:
In the same context, at the end of September 2018, the Turkish Presidency issued an amendment to the Nationality Law, which includes the granting of citizenship to a person who buys property in Turkey in excess of US $ 250,000, provided that the property is not sold within 3 years.
The Turkish Lira and the Real Estate Investment Sector:
The real estate investment sector is one of the most important economic sectors in Turkey, so it is affected by the low exchange rate of the Lira, whether positive or negative. The effects of the depreciation of the Turkish lira can be listed in the real estate investment sector as follows:
Investor continues to achieve a financial return:
The devaluation of the currency does not result in a rough economic crisis overnight; it can result in so-called economic strangulation, which causes a slight decline in the value of the property in dollars. To go beyond this slight effect, it seems that accelerating the sale of real estate is one of the best ways to follow.
Low real estate price in consistency of the dollar rate:
The low price of the property turkey , as mentioned above, is in favor of the person who seeks to buy the property, which means increasing the public demand for the property. Given this equation, it is noted that the market, in terms of supply and demand balance, accelerates the treatment of currency depreciation.
Low rental rates:
This effect is in favor of tenants of central real estate in dollars. According to a report by Kutchman & Caveld, published in Turkey Market Analysis in the second quarter of 2018, rents of shops and offices in central areas have dropped by 22% recently.
The rates of decline in the regions of Istanbul have been unevenly distributed, but Asan Taba and Girit Tabbah are the two most affected areas of decline, relative to the high level of rental rates there, where rents have dropped from $ 21 per meter to $ 21. The decline included other areas in Istanbul. There is no doubt that this is in the interest of tenants, more than landlords.
Damas Real Estate turkey offers its services in the sale of real estate investment in most areas of Istanbul, through the best offers including the best offers.
Share this post with your friends!
Ask for a free consultation