New Amendments to Turkish Citizenship Law

Fatma Arayıcı

Learn about the latest changes to the Turkish Citizenship Law and how they affect foreign investors and their families. Stay informed and make informed decisions with our comprehensive guide.

The regulations of the Guide on the Regulation on the Implementation of the Turkish Citizenship Law have undergone comprehensive changes regarding the acquisition of immovables subject to the promise of sale. The new regulation came into effect on January 1st, 2023.

As you may know, purchasing immovables that are under construction and with construction servitude, subject to the promise of sale, can lead to acquiring citizenship. However, the independent section subject to the contract must be registered in the name of the promise debtor (promoter) at the time of the commitment request. In other words, an application cannot be made based on the promise of the promise.

 

The amendment introduces a Single Promise-Sale Contract Condition.

In citizenship applications made based on the promise of sale, the amount sought in the Regulation (at least 400.000 USD) must be provided with a single contract. It is possible to subject more than one real estate to a promise of sale under a single contract, but applications made based on more than one promise of sale contract will not be considered. Additionally, it is not possible to complete the remaining amount with the promise of sale contract if the immovables acquired through purchase do not meet the amount required for citizenship acquisition.

 

Furthermore, payment must be made at the latest on the Sale Promise Date. 

The price corresponding to the amount specified in the Regulation (at least 400.000 USD) must be paid in advance in the applications made regarding the promise to sell contracts. The amount paid in advance in the preliminary sales contract and the prices in the foreign currency purchase certificate, valuation report, and receipt must meet the minimum amount sought in the Regulation separately.

 

It is important to note that share acquisition cannot be used as a means of applying for citizenship.

Additionally, only one sales promise contract can be made in an independent section, and joint ownership of an immovable by multiple foreign persons cannot be subject to citizenship, even if the value of their shares exceeds $400,000.

 

If a loan is used to purchase an immovable, a minimum down payment of $400,000 is required. 

However, if the remaining portion of the sales price after deducting the loan amount provides at least the amount sought in the Regulation, the commitment request will be accepted.

 

Foreign currency purchase documents will be taken as the basis.

And no foreign exchange calculation will be made according to the application date. The sale price must be sold in US Dollars or the equivalent amount of foreign currency to a bank to be sold to the Central Bank, and the foreign currency purchase document must be sent to the relevant Land Registry Directorate via KEP.

 

It is important to comply with the new regulations to ensure a smooth and successful application process.