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Important changes concerning the Turkish Citizenship acquisition by investment

Posted by bashar on 11/01/2023

Changes about Turkish Citizenship acquisition by investment 2023

Changes about obtain Turkish Citizenship 2023 by investment

Due to the adjustment made in Circular No. 2019/5, published under the Implementation Regulation of the Turkish Citizenship Law, significant modifications have been made in implementing the Turkish Citizenship Law. These modifications became effective on January 1, 2023. In this instance:

The preliminary sales agreement changes

As of January 1, 2023, it is specified that transactions based on the preliminary sales agreement about the sale of real estate must be made using a single contract. In other words, if more than one real estate property is included in the initial sales agreement, a citizenship application can only be submitted if the total price is at least $400.000. In addition, the 400,000 USD purchase price for real estate cannot be combined with another real estate transaction made under a preliminary sales agreement, Contact us for More details.

Changes relating to the sale of shares

With jointly owned properties, citizenship applications will not be accepted. For instance, even if two foreigners purchase a property for $900,000 in equal parts, they will not be allowed to petition for citizenship. This is so because each immovable property may only have one foreign owner, and only the foreign owner may apply for citizenship.

Changes to the document for the purchase of foreign currency

According to the preliminary sales agreement. The foreign exchange purchase document must be issued for the minimum amount paid in advance and no later than the contract date.

Additional key changes for Turkish Citizenship 2023

  • It is now possible to transfer or pay for real estate using the safe payment methods that banks provide. It is apprehended that paying with a blocked check is expressly permitted in this situation.
  • Used real estate that is the subject of a sale or a preliminary sales agreement shouldn’t be part of the real estate that has recently been transferred to a Turkish citizen or company by a foreign real estate owner. Acquisitions resulting from employment agreements are considered an exception to this rule. 

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