-Are there any restrictions or limitations when buying real estate for foreign citizens?
Sales in government restricted and prohibited areas are prohibited.
-How is the sales value of the real estate required for citizenship determined?
The market value determined by the sales price on the authenticated deed and the appraisal report (each separately) must be higher than the amount required by the regulation. Transaction is made based on the most recent Central Bank effective selling rate/Central Bank effective selling rate on the sales day.
-Where to get the appraisal report and does it have a validity period?
The appraisal report can be obtained from the appraisal agencies announced on the website of BRSA (https://www.bddk.org.tr/Kuruluslar- Kategori/Bankalara-Degerleme-Hizmeti-Vermeye-Yetkili-Kuruluslar/11). The date of issuance of the appraisal report submitted during the acquisition application must be at least three months before the application date. The appraisal report shall be valid until the transaction is completed.
-How should the sales price of the real estate be transferred?
It is possible to transfer the sale price in foreign currency or in Turkish currency by means of banks in our country or a bank abroad. It must be verified by bank-certified statements that the price has been deducted from the buyer account and deposited in the seller’s account.
-What to do to get a “Certificate of Conformity”?
In order to obtain exceptional citizenship through purchasing real estate, after the contract to not sell the real estate for 3 years is made, the transaction documents are sent by the Land Registry Directorate to the Land Registry and Cadaster General Directorate/Department of Foreign Affairs.
This is the practice following the circular dated 15.10.2018 and numbered 2018/12 (1791). (Processes for purchase prior to this date were carried out with the follow-up of those concerned.)
The Department of Foreign Affairs shall issue a “Certificate of Conformity. Afterwards, it is sent to the Directorate General of Migration Management and the General Directorate of Civil Registry and Citizenship for the required transactions, to the related person via e-mail. After the “Certificate of Conformity ” is obtained, the application for a residence permit is made to the Provincial Directorate of Migration Administration and then the citizenship application to the Provincial Directorate of Civil Registry and Citizenship Affairs.
In Istanbul; the certificate of conformity will be issued by the Istanbul II. Regional Directorate of Land Registry and Cadaster until the end of February 2019. (https://www.tkgm.gov.tr/tr/istanbul)
-Is it possible to apply for Turkish citizenship as an exception for real estate purchased before?
It is possible to apply on condition that the value of the real estate(s) purchased between 12.01.2017-18.09.2018 is at least $1,000,000; and the value of the real estate(s) to be purchased on 19.09.2018 and afterwards is a minimum value of $250.000. The real estate(s) purchased before 12.01.2017 are out of the scope.
-Is it possible to apply for Turkish citizenship as an exception for the joint-owned real estate purchased?
It is possible to apply on condition that the share value of the real estate(s) purchased between 12.01.2017-18.09.2018 is at least $1,000,000; and the share value of the real estate(s) to be purchased on 19.09.2018 and afterwards is a minimum value of $250.000.
-Is it possible to buy more than one real estate in order to acquire Turkish citizenship?
It does not have to be a single real estate; the total value of the multiple real estates purchased between 12.01.2017-18.09.2018 must be at least $1,000,000; and the total value of the multiple real estates to be purchased on 19.09.2018 and afterwards must be a minimum value of $250.000.
-Is it a must that all real estates be purchased at the same time?
No. Application for real estates purchased on different dates is possible. However, the value of the real estate(s) purchased between 12.01.2017-18.09.2018 must be at least $1,000,000; and the value of the real estate(s) to be purchased on 19.09.2018 and afterwards must be a minimum value of $250.000.
-What must be the type of real estate?
The type of the immovable property does not matter in the process of making a commitment through purchasing. (Housing, workplace, land, field, garden, etc.). As for commitment through notarized sales promise, the type of the real estate must be immovable property with floor ownership or floor easement established.
-How should the appraisal report to be obtained later for real estate purchased before be prepared?
If it has been demanded for real estates the acquisition process of which has been completed (deed acquired) to make a contract to not sell for 3 years, the real estate appraisal report showing the value of the real estate/immovable property at the date of sale/acquisition is required.
-Can the foreigners who are the owner or a partner of a foreign capital company apply for citizenship through the immovable property owned by the company?
They cannot apply, because the right to acquire citizenship by way of an immovable purchase is applicable for the real estate purchased by real persons.
-Does it matter from whom the real estate is purchased for the citizenship application?
The real estate to be purchased must not be registered under the name of any foreign natural person, including the purchaser’s spouse or children. Also, it must not have been transferred by the purchaser himself/herself, his/her spouse, his/her children or any foreign natural person after 12.01.2017.
Also, the real estate to be purchased must not be registered under the name of the company of which the foreign purchaser is the actual partner or manager.
-It is possible to sell the real estate before the expiry date (3 years) of annotation on the deed?
While this is possible, the General Directorate of Civil Registry and Citizenship Affairs will be informed of the situation by the Land Registry Directorate and the situation of citizenship will be re-evaluated.
-In case the purchased real estate is mortgaged, can citizenship application still be made?
Application can be made, but in the event that the real estate to be acquired is subject to mortgage or is bought through mortgage, the value of the mortgage is deducted during appraisal process and the remaining amount is taken into account. (The remaining amount must meet the required value.) However, in the case of mortgaged sales, the mortgage amount will not be taken into account if the mortgage is abandoned within 5 business days at the latest after the sale.
-If the real estate is bought through housing loan, can citizenship application still be made?
When the loan credited by the bank is deducted, the remaining amount must meet the required value.