The Turkish government has issued new regulations for foreign investors who wish to obtain the Turkish passport through real estate investment, and these amendments will be effective starting from July 1st, 2023.
- Number of properties
- Foreign investors can purchase multiple properties to reach the required amount or more to apply for Turkish Citizenship, which is 400.000 USD. However, when submitting your application, all properties must be registered under one preliminary sales contract.
- Applications made with more than one preliminary sales contract will not be accepted.
- Jointly-owned properties
- If more than one foreign national purchases a property in shares, it is not possible to apply for citizenship.
- A property registered to more than one person can be subjected to citizenship if all shares are purchased by only one foreign national.
In simpler terms, it means the title deed must be in the name of a single person. If ownership rights to a single property were transferred from multiple owners to a single foreign individual, the new owner who has full ownership rights is eligible to apply for the Turkish Citizenship.
You can contact our team and lawyers to obtain more information about the Turkish Citizenship by Investment. You can also check our Turkish Citizenship program guide here.