Procedures for buying property in Turkey:
Investing steps through buying property in Turkey and obtaining citizenship can be done easily, but first you should use expert advisors and reputable lawyers and learn about the conditions before buying property.
There are some points that buyers should be aware of before starting the process of buying a property, and we will mention some of them in the following article.
In order to acquire Turkish citizenship through the purchase of property, you must know the conditions for purchasing property in Turkey and comply with some requirements when purchasing.
According to the new laws from 01/01/2023, the purchase conditions and changes in property purchase and investment are as follows.
Property buyers can get citizenship for buying a property worth 400,000 dollars and paying it through the bank and receiving a Döviz Alım Belgesi certificate for a house.
According to this law, buyers cannot buy more than one property for citizenship and the value of the property must be 400,000 dollars, and even properties that are worth more than 400,000 dollars will only be given one citizenship.
From 01/25/2023, foreign buyers can begin the process of obtaining Turkish citizenship if they purchase property from Turkish citizen owners or projects whose builder and owner is a Turkish citizen.
According to the latest approved and implemented law, the value of the property you are buying has been assessed by the appraiser, the Property Inspection and Supervision Board in Turkey, at least 400,000 four hundred thousand dollars. The value of the property at the time of signing the contract should be at least 400 thousand dollars.
According to this law, the property purchase tax will be collected from the buyer according to the appraised property value sheet (expertise), which means, like previous years, the property value and the price written in the Tapu house document must be the same and the tax must be paid to the government.
Buyers and investors are required to maintain the purchased property for at least 3 years and this obligation is recorded as a clause in the ownership document or in the notarized sales contract.
According to the law, the buyer of the property cannot sell his property for 3 years, otherwise the right of citizenship will be revoked.
The purchase amount of the property must be transferred from the buyer’s bank account to the seller’s bank account, and if the property is purchased for citizenship, the payment transaction must be made through the conversion of foreign currency (dollars, euros, pounds, etc.) by the bank.
The property purchase certificate must be approved by IMAR of the Turkish Urban Development Organization.
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