The Turkish Citizenship by Investment (CBI) program is one of the most attractive pathways for global investors. However, to successfully qualify, it’s crucial to understand the legal requirements and comply with the regulations. This article provides a comprehensive overview of the rules, including property holding periods, investment thresholds, and additional restrictions.
1. Minimum Investment Requirement
To qualify for Turkish Citizenship by Investment, you must make a minimum investment of $400,000 in real estate.
- Eligible Property Types: Residential or commercial.
- Combined Properties: Multiple properties can be purchased to meet the threshold, provided they are registered under your name.
2. Property Holding Period
Investors must hold the purchased property for a minimum of three years.
- Restriction on Sale: During this period, the property cannot be sold or transferred.
- Annotation on Title Deed: A legal annotation will be placed on the title deed, preventing sale for three years.
3. Property Valuation Report
The property must be appraised by a government-certified valuation expert to ensure its value meets or exceeds the required $400,000 threshold.
- Currency Requirement: The transaction must be completed in Turkish Lira (TRY), but the equivalent value in USD is calculated at the Central Bank’s official exchange rate.
4. Payment Methods
- Bank Transfer Required: All payments for the property must be made through a Turkish bank to ensure transparency.
- Receipts Submission: Provide official bank receipts as proof of payment during the application process.
5. Property Registration
- Title Deed (Tapu): The property must be registered in the investor’s name at the Land Registry Office.
- Single Ownership or Joint Ownership: Only the primary investor (or their spouse and children under 18) can benefit from the citizenship application.
6. Restrictions on Property Eligibility
- No Previously Used Properties: The property must not have been used by another investor for citizenship purposes.
- Government Approval: Ensure the property meets all legal and citizenship criteria, verified by government authorities.
7. Additional Legal Requirements
Residency Permit Application:
Investors must apply for a short-term residency permit before submitting their citizenship application. This does not require continuous physical presence in Turkey.
Dependents Eligibility:
Spouses and children under 18 can also receive citizenship under the same application.
8. Timeline for Citizenship Approval
The entire process, from property purchase to receiving citizenship approval, typically takes 6 to 12 months.
9. Ensure Compliance with Expert Assistance
Navigating the legal requirements for Turkish Citizenship by Investment can be complex. It’s essential to work with reliable professionals, including real estate agents, lawyers, and investment consultants, to ensure all requirements are met.
For an extensive list of citizenship-eligible properties and expert guidance, explore Listing Turkey, your trusted resource for streamlined investment opportunities.