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New facilities for acquiring Turkish nationality

New facilities for acquiring Turkish nationality
Publication date: 2019-06-12 Category: Tax & Legal

A new legal amendment, published in the Official Gazette of Turkey, had been issued recently that would facilitate the acquisition of the Turkish citizenship by foreigners who purchased a property in Turkey before the issuance of the recent Turkish citizenship law. Where customers of Damas Turk Real Estate can apply for the Turkish citizenship according to the new conditions in the following order:

  • The foreign clients have invested in real estate purchase after 12.01.2017
  • They obtained a title deed after 19.09.2019
  • And that the last owner of the property was a Turkish person or a Turkish company, even if the previous owner of the property was a foreigner.
  • Completed the value of their property to reach $ 250.000 by owning new properties to complete the total amount.

Furthermore, the new amendment eliminates the requirement to show a bank receipt in the application for Turkish citizenship through real estate purchased from public companies such as TOKİ and Emlak Konut, whether they are a solid project developer or act in partnership with other private companies. However, the requirement to prove payment by bank receipts remains in effect when purchasing real estate from private companies or individuals.

Excluded from that clients who purchased property worth $ 1 million as of 12.01.2017 where they, according to the amendment issued, do not have to prove their payments by bank receipts, even if their property was purchased by private companies.

Over and above that, the exchange rate of the Turkish lira against the dollar is one of the most important amendments; in order to obtain the Turkish citizenship and complete the application successfully, the conditions for the exchange rate of the Turkish lira against the dollar must be met on the dates of payment, bank receipts, property evaluation reports, dates of delivery of the real estate document, and dates of citizenship application.

Buying property in Turkey worth 250 thousand dollars:

The owner is required not to sell the property for a period of three years, and he has to pledge on that. He also must not transfer his ownership at the concerned records’ directorates regarding real estate. However, this method is one of the easiest and fastest ways in which you can obtain the Turkish citizenship. It is prover now that real estate investment is one of the most successful methods prevailing at the present time, and that is because the real estate retains its actual value in cases of market volatility, or even in cases of economic fluctuations, the value of the property increases with the passage of time, it can also be rented, and the value of additional income can be used, or it can be reused from a prepared property for personal use to use it in a wider domain as a company and the like. It is important to note that obtaining the Turkish citizenship also includes the wife, and the children who have not reached the age of 18 years yet, and the procedures for applying for Turkish citizenship can be started right after purchasing the property that meets the conditions mentioned. In this regard, fear nothing. Damas Turk Real Estate will be with you side by side, step by step, throgh lawyers and advisors specialize in obtaining the Turkish citizenship, and that includes how to start the required procedures, direct you to the correct and shortened methods, and relieve you of the trouble of searching and inspecting that may expose you to falling in the hands of real estate gangs and fraud networks.

Features of Turkish citizenship:

Besides that it gives you the opportunity you to visit more than a hundred countries around the world without a visa, the Turkish citizenship gives you the chance to work in various sectors and government strips without needing a work permit. It also allows you to benefit from the retirement law and free public transport services (buses, autobuses, metro, tramways, and metrobus .... etc.). Moreover, you can practice professions prohibited to foreigners such as dentistry, law, pharmacy, veterinary, customs clearance, notary work, translation (sworn or certified translator), marine professions, and a tour guide. On top of that, you are not required to employ 5 Turks when opening a company, and you can enjoy benefiting from the government concessions that Turkey offers in particular to Turkish investors, such as financial support, tax cuts, and in some cases the abolition of value-added tax and others.

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