It is indeed possible to collect interest on your account balance. The specific interest rate will be determined by the terms and conditions agreed upon between yourself and the bank.
In Turkey, the legal framework permits individuals to hold multiple citizenships, allowing them to acquire Turkish citizenship without having to renounce any existing citizenship.
The citizenship application process in Turkey is open to individuals of any nationality through the Citizenship by Investment programme. However, certain nationalities, including Taiwan, Armenia, North Korea, and Syria, are unable to apply for the programme using the "property investment" option, as property purchases in Turkey are restricted for them. Moreover, citizens of countries bordering Turkey are not permitted to purchase property in specific border cities. For instance, citizens of Georgia are unable to buy property in Artvin and Ardahan, while citizens of Iran face restrictions in Hakkari, Van, and Agrı.
Deposits of $500,000 or its equivalent in any currency are accepted; however, kindly note that a currency exchange to Turkish lira will be required in such instances.
There is no mandatory residency period before or after obtaining Turkish Citizenship through Investment. Additionally, the requirement to live in a property acquired through the Citizenship by Investment program is not enforced, and individuals have the freedom to rent it if desired.
The Turkish Government has not stipulated any specific regulations regarding the location of investments in Turkey to qualify for the Turkish Citizenship by Investment program. Therefore, investors have the flexibility to choose their desired investment locations within the country, enabling them to make informed decisions based on their specific business interests and potential returns.
According to the Turkish Citizenship by Investment programme, only the investor's spouse and their children under the age of 18 are eligible to acquire Turkish citizenship. However, it is important to note that this right does not extend to the investor's parents.
Upon being granted Turkish Citizenship, individuals will enjoy the same rights and privileges as Turkish Citizens by birth. One of the benefits is the ability to work within the borders of Turkey without the requirement of work permit.
In accordance with the citizenship application regulations, it is important to note that multiple individuals may hold shares in a property jointly; however, it is imperative to understand that each applicant seeking citizenship is required to individually own the property. Shared property investment does not qualify for citizenship applications.
According to the existing regulations, the citizenship application for investors does not extend to children over the age of 18, even if they rely financially on their parents.
When initiating the application procedures for Turkish Citizenship, it is important to consider the age of the investor's child. If the application process is commenced prior to the child reaching 18 years of age, he or she will be eligible for the acquisition of Turkish Citizenship. It is advisable to submit the relevant citizenship documents to the government citizenship office within this timeframe.
In order to be eligible for Turkish Citizenship, applicants must meet certain property ownership requirements. The total value of properties purchased between 12.01.2017 and 18.09.2018 should be a minimum of 1.000.000 USD, or alternatively, if properties were purchased only after 18.09.2018, the total value should be at least 400.000 USD. These criteria are essential to be considered for Turkish Citizenship.
By opting to purchase a property through installment payments via bank transfer, you can facilitate your eligibility for citizenship application through your investment.
Once the investor successfully acquires their citizenship, the family can initiate the application process for citizenship as well.
After completing the purchase and acquiring title deeds in your name, you will become a property owner with the same rights as Turkish property owners. However, please keep in mind that you are restricted from selling the property for a period of 3 years, as dictated by the Turkish Citizenship by Investment program. Once this timeframe has elapsed, you will have full autonomy to decide whether to retain or sell the property, as there are no further restrictions in this regard.
The Turkish citizenship by investment program allows individuals to acquire Turkish citizenship through purchasing various types of properties, including apartments, stores, land, and even agricultural land. Additionally, applicants have the flexibility to combine multiple properties to meet the program's eligibility requirements.
The Turkish Citizenship by Investment programme does not impose any language proficiency criteria for applicants to enjoy its privileges. Regardless of their knowledge of the Turkish language, eligible individuals can still obtain Turkish citizenship through this initiative.
Upon completion of the investment, valued at 500.000 USD, please note that the property sale and withdrawal of the deposited amount shall not be permitted a duration of 3. It is important to understand that requirement does not hinder your eligibility to for Turkish Citizenship; the process can commence immediately upon final the investment, thereby obating the need to adhere to 3-year waiting period.
Turkish Citizenship is granted on a lifelong basis, entitling individuals to enjoy the same rights as those who are native-born Turkish citizens. This prestigious status ensures that individuals can fully participate in various aspects of Turkish society, including political, social, and economic spheres, affording them equal opportunities and benefits.
In order to strengthen your investment portfolio, you have the opportunity to acquire multiple real estate properties with a combined value of at least USD 400,000. The title deeds for all properties must be held by the same individual in order to ensure the validity of your application. Equally important is the requirement that the total value provided to the Directorate of Land Registry and Cadastre must meet or exceed the minimum of USD 400,000 for the application to be considered valid.
When calculating the total value of a property, three factors are considered. Firstly, the official sales price is checked by the title deed office, which compares it to the banknote selling rate of the Turkish Central Bank from the previous working day. Secondly, the valuation report is taken into account, and its result, in Turkish lira, must align with the banknote selling rate from the previous working day. Lastly, the receipt of the wire transfer is scrutinized to ensure that the amount matches the banknote selling rate of the Turkish Central Bank from the previous working day and is equal to $400,000.00.
In order to obtain Turkish citizenship, the applicant must demonstrate that they do not pose any risk to the national security of Turkey. It is essential for all necessary requirements to be met and for all documents to be completed with utmost accuracy and diligence.
Turkish citizenship process may be proceeded by a proxy (Power of Attorney) without presence of investor. (for residency part, the proxy has to be an attorney at law who is registered the Bar Association). In this context, provides legal consultancy to the applicant with its expert team and legal perspective.
To qualify for Turkish citizenship through a $250,000 property investment, it is imperative to complete the transfer of the real estate in your name before the deadline of 13.06.2022. This requirement ensures compliance with the established guidelines and procedures outlined by the Turkish government.
In compliance with Turkish citizenship regulations, individuals granted citizenship before reaching the age of 21 are obligated to fulfill their military service in the Turkish Army. Alternatively, an option exists for those who wish to fulfill this obligation more swiftly, allowing for a 28-day service period upon payment of 122.350 TL, reflecting the 2023 price.
In accordance with the standard requirements for Turkish citizenship services, individuals are typically required to ensure their child is under 18 years of age in order to avail the citizenship coverage. Nevertheless, upon submission of pertinent documentation highlighting the child's disability, indicating the necessity for care, and any additional papers as specified by the authorities, exceptions can be made to facilitate the acquisition of Turkish citizenship for the child.
Foreigners who own property in Turkey with a minimum value of 200 000 USD are eligible to apply for a residence permit, subject to annual renewal as long as they maintain ownership.
Foreigners are allowed to purchase real estate in Turkey without a residence permit. The process for buying property in Turkey is straightforward and accessible to international investors, making it an attractive option for those seeking to invest in the country's thriving real estate market.
Ensuring the possession of a valid ownership document or title deed is of utmost importance when it comes to acquiring property in Turkey. Referred to as TAPU, this official registry document serves as tangible evidence of an individual's ownership rights over the property. Striving to provide a sense of security and legal recognition, the Tapu is a crucial component within the Land Registry and Cadastre Directorate, facilitating the process of property ownership in Turkey.
To obtain the valuation report, you must contact inspectors who are licensed by the government and recognized by the Land Registry and Cadastral Directorate. There are independent private firms, such as www.webtapu.com, which automates the selection process for you when you submit an online application. These firms will conduct an inspection of the property in question, assessing factors such as market value, title deed records, plans, construction licenses, zoning permits, and square meters. They will then provide a comprehensive report. It is important to note that the result of the evaluation report will be in Turkish lira and must match the central bank banknote selling rate from the day before the report is issued. The validity of the evaluation report is three months.
We offer comprehensive legal services to assist you in creating an investment company on behalf of your company abroad. Our team at Aslan Attorney has a proven track record of successfully establishing and structuring businesses, including investment companies, in Turkey. Contact us today to discuss your specific requirements and how we can assist you.
The eligibility for a company abroad to purchase property in Turkey depends on the nature of the company. While there are limitations on selling property to foreign companies solely engaged in buying and selling, investments in factories or industrial production may grant foreign companies the ability to own property in Turkey. The decision on whether a company may own property is determined by the Governor Committee of the respective province.
It is important to note that there are no restrictions in Turkish law regarding who can sell real estate. However, it is highly advisable for foreign investors to exercise caution when purchasing property. It is recommended to seek assistance from professional agencies and established companies that employ experienced lawyers to ensure a smooth and legally sound transaction.
Potential buyers of property in Turkey are typically open to citizens of all countries except for those that Turkey does not recognize diplomatically, such as Armenia, North Korea, Taiwan, and Syria. It is important to note that neighboring countries have certain restrictions when it comes to purchasing real estate in specific regions. For instance, Iraq is unable to acquire property in Şırnak and Hakkari, while Iran faces restrictions in Hakkari, Van, Ağrı, and Iğdır. Buyers from Georgia are unable to purchase properties in Artvin and Ardahan, while those from Azerbaijan face restrictions in Iğdır. Likewise, buyers from Bulgaria are unable to acquire property in Edirne and Kırklareli, and buyers from Greece are restricted from purchasing in the coastal cities of the Aegean and the Marmara Sea.
Foreigners can indeed loan money in Turkey through two options. The first option is availing a bank loan, while the second option involves the long-term payment plan offered by construction companies, which allows individuals to purchase a home on credit without the requirement of extensive documentation.
When purchasing an apartment under construction, a reservation fee of approximately 5.000 USD is typically required upon contract signature. Payment plans usually involve installments based on the completion ratio of each building stage, but these terms can differ among developers. For detailed information, please refer to your agent's payment plan table for each available offer.
In order to proceed with a real estate purchase, we kindly request your passport as the primary personal document. Following the submission, the necessary documents will be prepared accordingly, tailored to your unique circumstances.
To open a bank account, it is essential to possess a tax number and provide proof of address. When visiting Turkey, one must bring supporting documentation, such as a bill displaying their name and address. Complying with the relevant banking regulations, the address can be verified through an electric, water, or internet bill that clearly indicates both the address and the account holder's name.
When an apartment is rented in Turkey. The rental income tax is levied on the income received from renting out the property, while the property tax is an annual tax imposed on the value of the property. It is important for landlords to be aware of their tax obligations and ensure timely payment to comply with Turkish tax regulations.
If you are seeking to protect your property against potential risks, consider consulting the expert lawyers at rate Aslan Attorney. Our team can offer professional guidance and assistance in ensuring the comprehensive protection of your valuable assets.
It is essential that the values presented in both the appraisal report and official deed are not lower than the overall value indicated on the bank receipt. When the bank receipt is paid in Turkish Lira, the calculation of the USD equivalent is based on the Central Bank of the Republic of Turkey's banknote selling rate on the last business day prior to the payment date.
When submitting multiple bank receipts paid in Turkish Lira and of different dates, the value can be determined by calculating the total based on the banknote effective selling rate of the Central Bank of the Republic of Turkey. This calculation should be made using the rate applicable on the last working date day preceding each receipt's issue date, with a minimum requirement of USD 400,000.
The valuation report can be obtained from the designated valuation firms listed on the Land Registry and Castrate Directorate website, www.webtapu.com. This report is valid for a period of three months from the date of issue. It will retain its validity from the moment of submission until the completion of the respective procedure.
The sale price of the real estate must be transferred to the bank account of the seller or their authorized representative through secure means such as money transfer, EFT, or wire transfer, by the purchaser or their authorized representative. It is essential to maintain proper documentation of the payment. In the case of real estates owned by public institutions and enterprises, such as TOKİ and Emlak Konut, the transfer/payment may also be substantiated by a certified bank receipt or an official letter indicating the amount received.
After the successful transfer of the title deed, Aslan Attorney Lawyers will diligently facilitate the process of obtaining a Certificate of Conformity from the General Directorate of Land Registry Office. Our experienced team will record a three-year holding commitment on behalf of our clients and promptly submit the required documentation to the Land Registry Office for assessment by the officers. The issuance of a single property's certificate is typically concluded within one week, while multiple property certificates may take between 2 to 3 weeks. Once in possession of the certificate, foreigners are mandated to initiate their application for a residence permit at the Provincial Directorate of Migration Management, followed by the General Directorate of Civil Registration and Citizenship Affairs for the citizenship process.
It is possible if the share is worth USD 400.000 minimum.
Yes, it is possible to acquire Turkish citizenship by purchasing multiple real estates. According to the Turkish Citizenship Law, foreigners who invest a certain amount in property are eligible to apply for Turkish citizenship. However, specific criteria and guidelines must be met for this process.
It is possible to apply for citizenship with real estate purchased at different times, as long as all the necessary requirements are met and the respective guidelines are followed.
Unfortunately, foreigners who own or are shareholders of foreign capital companies cannot apply for citizenship through property owned by that company. In order to be eligible for citizenship, the real estate must be registered directly to the individual person who intends to file the application.
According to Turkish laws, the acquisition of Turkish citizenship through the purchase of real estate is not permitted if the property is registered under the legal entity of a company where the individual holds shares or acts as a director. This regulation prohibits individuals from using this method as a means to obtain Turkish citizenship.
It is of utmost importance that the real estate purchased for the citizenship application is registered to Turkish citizens and has not been transferred by a foreign individual person since 12.01.2017. This requirement also applies to the foreign natural person acquiring the property, as well as their spouse and children.
In such cases, it is crucial to obtain clarification from the Provincial Directorate of Civil Registration and Citizenship Affairs to determine the feasibility of selling the real estate before the annotation in the registry expires. However, it is important to note that engaging in this action may result in the loss of citizenship.
When applying for citizenship, the possibility of utilizing a loan for real estate purchase is not restricted. However, in such cases, the remaining amount after deducting the loan amount will be considered for assessment. In the instance of legal mortgage sales, the upfront payment made must align with the value of USD 400,000.
It is acceptable to submit applications for real estate acquisition through a power of attorney in order to pursue exceptional means of obtaining Turkish citizenship, provided that this intention is explicitly mentioned in the power of attorney document.
It is possible to apply for Turkish citizenship by submitting a notarized preliminary sales contract that ensures the property will not be sold for a period of 3 years, and the sale transaction will be completed without cancellation. To be eligible for this option, a minimum amount of USD 400,000 or its equivalent must be paid in advance for real estate with a condominium or construction servitude. This information applies as of 07.12.2018.
