Turkish Citizenship Given To Foreigner Real Estate Property Investment

A new regulation under the foreigners law published in the Official Gazette yesterday, avails to non-Turkish nationals who (1) buy 1 million dollars worth of real estate and not sell within 3 years, (2) invest 2 million company capitol and create 100 jobs or (3) bank deposit 3 million dollars into an account with 3 years retention, will get instant Turkish citizenship, passport and ID without any precondition.

First Need A Turkish Residence Permit Applied In Turkey Only

Granting Turkish citizenship process to foreigner buying property in Turkey especially were welcomed by representatives of the real estate sector. The increase in home sales to foreigners stating that they do a good start for the housing developers the vast majority of foreigners are choosing. At this price, home field, citizenship, long-term residence permit is granted, then a serious Vitality experienced. The housing market of over 1 million dollars and 2-3% up to,” he said. GYO, indicating a high amount of $ 1 million, the Board of Directors Chairman, “with the rate increase to a reasonable level the prices for foreigners here. Citizenship also will increase the appetite of the stranger. On the other hand, the lower the amount, the granting of a residence permit is primarily the area of the home, then this can be considered to be converted to the citizenship of residence. 300 thousand dollars in the field of real estate a residence permit first, then after you operate as good guest, at the end of the 5th year can be granted citizenship,”he said.

Who Ever Comes Up With Money Should Come To Turkey

They used to sell housing to foreigners in 3 years, 2.5 billion dollars worth stating that the Chairman of ağaoğlu group of companies. Agaoglu, “to announce this decision in the Official Gazette is not the solution. We'll do the work and promotion go to the Gulf countries. We accepted this national task. Long-term residence permits when they were talking directly to civil rights. Therefore, $ 1 million is a good number. There is a price to be a citizen of Turkey. We already have millions of a need for the owner, we were received with open arms in the country. Now tell them to come up with the money. In such a period, it will provide a significant resource to our country.”

Estimated 30,000 Extra House Sales Expected To Be Sold In 2018

CITIZEN-sector is an important contribution to the right of the link, but is in need of some improvements, indicating that Istanbul Builders Association President, “I'm the stranger to encourage the Tabernacle we can keep the VAT rate at 1 percent. We can take the precaution of putting commentary in the title deed. Only for sale to foreigners with the change we do not expect the peak of this Regulation. At least a $ 1 million investment to Turkey also wants to be guaranteed the vested rights of foreign investors. So, that shouldn't change the view of the house receives it half way in the land zoning plans must be changed,” he said. 20 percent of sales to foreigners dropped and the level of 18 thousand in the year 2016 that it is at least a 20 percent increase in 2018 with the right to citizenship, and said they expected more than 20 thousand luxury property sales in Antalya and Turkey.