Turkish Citizenship, The minimum price by real estate investment

The issue of the minimum price for a nationality property in Turkey is an important and fundamental topic for investors looking for Turkish citizenship. Therefore, we wanted in Al-Fanar Real Estate to devote a special article in which we talk about the value of this limit and how it is calculated? And the way in which it is paid, along with comprehensive and ample details, in order for us to enrich the honorable reader with all the necessary information on this topic. 

We wish you good follow-up

The value of real estate investment in Turkey to obtain citizenship

At least $ 250,000 USD

In order to be able to apply for Turkish citizenship through real estate investment, the price of the real estate that you have purchased for this purpose must exceed the limit of $ 250,000 USD

Can the value be paid in Turkish lira?

Yes, it can

But the value of the paid amount must be at least equal to the value of the exchange of 250 thousand US dollars to the Turkish lira on the date of purchasing the property.

If you want to pay in Turkish lira, you must make sure that the price is slightly higher than the exchange value when agreeing with the seller, in anticipation of any emergency change in the exchange rates later.

But as a tip..pay the price in US dollars, the surest and best for you.

Note: The amount paid is calculated in Turkish lira according to the exchange rate of the Turkish Central Bank

Does the minimum include the tax value as well?

No .. it is not covered

The net price of the property for citizenship in Turkey must be at least 250 thousand US dollars without taking into account the value of any real estate tax during the registration of the property, the verification of ownership, the extraction of earthquake insurance, and so on .. All this is not included in the price.

Only the price noted on the sale document is calculated

Almost with the real estate tax, the property price may reach 255 to 260 thousand US dollars

Should the price be for one or more properties?

No

This is not considered a requirement, you can buy two, three or more properties, whether they are homes, offices or shops, but the total prices of these properties must be equal to at least 250 thousand US dollars, and thus you can obtain Turkish citizenship through real estate investment.

Some may ask how many properties can I buy with this amount?

The answer is not specific, as this price may include one property, such as a spacious villa, for example, or include more than one property.

The average price per square meter in Turkey is $ 500, so the amount for Turkish citizenship is enough to buy between 400 and 600 square meters, depending on the region, services and features of each property.

How to make sure that real estate is worth this value?

Turkey to accept the Turkish citizenship application requires the existence of a real estate appraisal document issued by a government company specialized in real estate appraisal in Turkey.

This ensures that you have already obtained real estate worthy of this value, and at the same time Turkish government agencies ensure that there is no manipulation by the seller regarding the price of the property.

The real estate appraisal period usually takes between 3 to 7 days, and the real estate appraisal document is valid for 3 months from the date of its issuance.

How do I pay the price of the property for citizenship in Turkey

After we got acquainted with the value of the minimum price for a Turkish citizenship property, we must ask an important question, which is how to pay this amount?

Payment of the property price must be made through money transfers from the buyer's account to the seller's account and through a Turkish bank, with documentation of these transfers and obtaining the receipt of their payment.

If the payment is not made through Turkish banks, it is not possible to apply for Turkish citizenship by owning a property in Turkey.

Is the price of the property related to the date of its purchase to obtain citizenship?

Of course it has a relationship, according to the following chronological order:

Notice:

• 12/1/2017: It is the date of issuance of the law on obtaining citizenship through real estate investment, and the minimum price for Turkish citizenship at that time was one million US dollars.

• 9/18/2018: It is the date of the amendment to the Turkish Citizenship Law, where the minimum price for a Turkish nationality property has become only 250 thousand US dollars.

Details about paying the price of the Turkish citizenship property in installments

The amendments to the Turkish Citizenship Law in return for real estate investment include details about the possibility of obtaining citizenship by purchasing real estate in Turkey in installments, provided that the purchase is after the amendment date 9/18/2018

There are two cases for the price of the Turkish nationality property in installments:

• The first installment should be $ 250,000 or more, and here it is possible to obtain Turkish citizenship before completing the payment of the remaining installments

• The first installment is less than 250 thousand dollars, and here it is not possible to obtain citizenship directly, except after the total paid installments reach the minimum.

Is the minimum investment for citizenship high?

A very important question comes to mind

Is the value of the required amount in order to obtain Turkish citizenship by buying a property in Turkey high, or not?

As you know, the word "high" is a relative word and you need to have clues to compare this price in order to be able to speak whether it is high or not.

Let us accompany you in the following comparisons:

In comparison with the first law to obtain Turkish citizenship

Compared with the value specified in 2017, the beginning of the Turkish government issuing the decision to accept Turkish citizenship for foreigners after purchasing the property, the minimum was one million US dollars.

The minimum now is 250 thousand US dollars, which is a quarter of the amount that was required in the first Turkish citizenship by investment law.

Here, we can say that the price of the Turkish nationality property is not high, but rather it is much lower than it was previously.

In comparison with other investment methods for obtaining citizenship

As for if we wanted to talk about other available methods of obtaining Turkish citizenship, we find that real estate ownership is the best one, as the investment requires a minimum of 500 thousand US dollars, or the same amount deposited in a Turkish bank.

While half of the amount is sufficient to obtain citizenship through real estate investment in Turkey.

So even in this measure ... the price of citizenship property in Turkey is not considered high.

In comparison with nationality laws in other countries

Comparing the price of the nationality property in Turkey and its price in several other countries, we can organize the comparison in the following table:

So, with a simple comparison, we can note that the price of the nationality property in Turkey is much lower than competing real estate around the world, not to mention two important observations:

• Some countries do not grant their nationality through real estate investment, regardless of the price of real estate registered in the name of the foreign resident, such as France and Italy, as well as most countries in the Middle East

• An amount of 250 thousand dollars may suffice you to buy 3 to 5 apartments in Turkey, while it may not be enough to buy an apartment in the United States, for example, here the price of citizenship property in Turkey outweighs in that it achieves a higher investment activity for you.

In sum, the amount required to obtain Turkish citizenship is a reasonable amount and fulfills the aspirations of thousands of Arab and foreign investors in Turkey to obtain the nationality of this country and reside in it permanently and open the horizons for a privileged life for the investor and his family after obtaining Turkish citizenship.