How to get a Turkish passport by buying property
If you are wondering how to get a Turkish passport by buying property then this article will help you. Turkey has an investment program that enables you to get Turkish Citizenship therefore a passport, visa-free travel and many other perks. As an investment real estate agent with many offices throughout Turkey, Summerhomes can guide you in the right direction when buying a house/villa/apartment; how to make the application and then advising you on what your passport will give you in return.
Are you a suitable applicant?
Well, any applicant with the right amount of funds and a clean criminal record is welcome to apply. Prior to 2018, Turkey’s entry requirements were rather steep, one million USD. But when the Turkish Government realised this was prohibiting so many people from the rest of the world from applying and it was having an adverse effect on their Foreign Direct Capital Investment, they reversed their decision and reduced their entry-level cost to 250,000 USD. Now there are only a few nationalities who are unable to apply.
Is the scheme genuine?
Yes, many people from around the world have applied and been accepted. The whole process has turned out to be smooth and has an easy application and approval time. A Turkish newspaper report from 2020 suggests that 7300 foreigners from 93 different countries gained Turkish Citizenship this way in the last three years. So, the system does work but how?
Turkish Tax Number
The first step would be to obtain a Turkish tax number. We do this at the local tax office in the area you wish to buy an apartment or home in. Your tax number may also be obtained via the internet. However, this is something we recommend you complete with our help. We submit passport photos and show the original passport. It’s a very quick and easy process and the tax number is given there and then, it's wise to keep this number safe as you will need to use it in the future.
Open a bank account
Once we have a tax number, we then go to a Turkish bank of your choice and help you open an account with them. This is an important step because all transactions need to leave a clear paper trail and be made to a registered Turkish bank account. All we need in order to complete this is the tax number and a utility bill showing your current address. We will advise you on banks as not all banks open accounts in the same way. Some are stricter than others but it’s a fairly quick and easy process. It should be noted, however, that Iranians are not permitted to open a bank account unless they have obtained their Ikamet first.
Where to Buy?
You probably will already have a good idea of where you want to buy, but this is an area we can also assist you with. There are many popular Turkish towns, however, if you are looking for a warm winter climate and hot summer holidays then the Antalya region comes out top in all areas. This province in the Mediterranean has the best beaches, the most relaxed lifestyles, established expat communities (of all nationalities), fantastic sea views and stunning mountainous scenery. Equally this area is perfect if you want to invest in the rental market. Antalya, Alanya, Fethiye and Bodrum are popular tourist destinations. You need to decide how you will use your property long-term as you will need to keep it for at last three years.
Real estate worth 250,000 USD
Not all homes are eligible for Citizenship by investment so the best option is to email us at firstname.lastname@example.org or call us on +90 538 888 16 16 to receive a portfolio via email. Or, even better, browse our extensive and informative website. Each listing contains everything you need to know, including price, home features, location and contact details to arrange viewing. The property that you wish to purchase must either be completed or close to completion, have a habitation certificate, be title deed ready and suitable for valuation reports.
Buying the property
Once you’ve found your home, the first step is to get a notarized sales contract and employ a lawyer. We can help with this too. When signing for the title deeds you must state the reason for buying is the Citizenship by Investment program and by signing this, you are promising to keep the property for at least three years. To keep the paper trail secure, make all investment transactions through your Turkish bank account. There are many foreign exchange companies who will help you transfer overseas funds at the best exchange rate and with low fees.
Certificate of Conformity and Turkish Residency
Once the above has been completed, we will get the official valuation report to prove how much the property is worth. We will also submit the bank receipts to the Ministry of Environment and Urbanisation in Turkey. Before you can apply for Citizenship by Investment program, applicants need residency visas also known as Ikamet. We can also guide you through this quick and easy process. Once your residency has been approved you will receive your card through the post. The first residency is approved for a year which is ample time for you to then apply for your Turkish Citizenship by Investment.
Turkish citizenship Application
To apply for this, you will need:
Proof of Turkish Residency
Documentation showing spouse and dependents (marriage certificate and birth certificates)
If you are a widow or widower then also a death certificate must be included
Proof of Health Insurance
12 biometric passport photos
All documents need to be translated and notarised
Power of attorney (to be given to your lawyer)
The application form has to be checked by many Government departments to be verified and for background checks. This process can take up to 6 months before you receive your Turkish passport and become an official Turkish citizen. Please note: if you have a criminal record, you will not be accepted. In all this process we have extensive knowledge and a desire to help you. Summerhomes is one of the foremost real estate companies with years of experience to make your home buying process quick and easy.