The real estate market is expected to increase with the new citizenship procedures. On 12/01/2017 it was announced that Turkish citizenship would be granted directly to those buying a property worth at least $ 1 million in Turkey or for those investing at least $ 2 million.
According to this amendment, Turkish citizenship will be granted to foreigners who meet one of the following conditions:
– Purchase a property worth one million dollars provided that it is not sold for at least 3 years.
– Investment in fixed capital in Turkey at not less than $ 2 million.
– Open a bank account not less than 3 million dollars in banks operating in Turkey and keep it in your bank account for a period of not less than 3 years.
– Provide documentation that at least 100 people work for a Turkish company owned by a foreigner.
How do you get Turkish citizenship?
An alien can obtain Turkish citizenship in two ways, either “birth” or “post-natal”. Certain conditions are expected to be imposed on those who wish to obtain citizenship after delivery if the conditions are met. The foreigner can also obtain Turkish nationality by a decision of the Council of Ministers.
The most prominent of these conditions: the establishment of 5 years in Turkey by owning a property.
One of the easiest ways to obtain a residence permit is to buy real estate in Turkey. Foreigners who buy real estate from anywhere and at any price in Turkey can obtain a residence permit.
What is the enterprise sector waiting for with these new arrangements?
There has been a significant increase in the number of foreigners buying homes in Turkey in recent years, and Turkey has become the preferred country for its living conditions, climate and beautiful beauty. For this reason, the number of foreign nationals wishing to invest in Turkey is increasing each year. The enterprise sector, which produces a variety of housing, appears to be able to respond to and satisfy the needs of investors.