According to Article 5901 of Law No12, foreigners who purchase real estate with a cadastral value of $400 thousand or more are entitled to apply directly for Turkish citizenship under the state investment programme.
When applying for citizenship, the applicant is obliged to attach a document confirming the right of ownership (TAPU) for the acquired property in which all the data and cadastral value are specified.
In the application for citizenship, the foreigner must indicate that the property was acquired for the purpose of obtaining a Turkish passport. This purpose must also be indicated in the ownership document. In addition, before submitting the application it is necessary to impose an encumbrance on the acquired property – a ban on sale for a period of 3 years – in the main regional department of the cadastral chamber.
When the ownership certificate procedure is completed, the foreigner can apply to the Migration Service for an investment residence permit before obtaining Turkish citizenship by sending a certificate of compliance to be issued to the property owner.
Conditions for obtaining citizenship under the state investment programme
On 28 July 2016, subparagraph (b) was added to the first paragraph of Article 5901 of Law No 12;
According to the regulations published in the Official Gazette on 18 September 2018, foreigners who meet any of the following conditions may obtain Turkish citizenship by decision of the President of the Republic of Turkey.
– Fixed capital investment of at least $500,000 or the equivalent of this amount in foreign currency.
Controlling body: Ministry of Industry and Technology.
– Acquisition of immovable property worth at least $400 thousand or the equivalent of this amount in foreign currency, provided that it has not been sold for at least three years in the land registry records.
Supervisory authority: Ministry of Environment, Urbanisation and Climate Change.
– Creation of jobs for 50 or more Turkish citizens
Supervisory Authority: To be determined by the Ministry of Labour and Social Protection.
– Placement of at least $500 thousand or its equivalent in foreign currency in banks operating in Turkey, provided that they are kept for at least three years.
Supervisory Authority: Banking Regulation and Supervision Agency
– Purchase of government bonds worth at least $500 thousand or the equivalent in foreign currency, provided that they are held for at least three years
Supervisory body: Ministry of Treasury and Finance
– Acquisition of an interest in a real estate investment fund or venture capital investment fund of at least $500 thousand or the equivalent in foreign currency, provided that it is held for at least three years.
Supervisory Authority: Capital Markets Board
– A contribution of at least $500 thousand or its equivalent in foreign currency to a non-state pension system, provided that it is held in funds designated by the Insurance and Private Pension and Supervision Agency and remains in the system for at least three years.
Supervisory body: Agency for Regulation and Supervision of Insurance and Private Pension Provision
Innovations
Article 20 of the Turkish Citizenship Law “Exclusive Acquisition of Turkish Citizenship” is amended in December 2023.
In the provision on granting citizenship to foreigners for investment, the phrase “real estate in the amount of foreign currency” is changed to “real estate with condominium or floor easement in the amount of foreign currency or land on which there is a building”.
