Yes, you can collect the interest. Rate of interest depends on the agreement between you and the bank.
Multiple citizenship is allowed in Turkey and you do not need to renounce your current Citizenship.
Nationality does not constitute an impediment for citizenship application in Turkey. Any country’s citizens are allowed to apply for Turkish Citizenship by Investment programme. However, some nationalities are not allowed to purchase a property in Turkey, so that they cannot apply for a CBI programme through “property investment”. These nationalities are Taiwan, Armenia, North Korea and Syria. Besides, citizens of border countries of Turkey are not allowed to purchase a property in the border city of Turkey to their country. For example, citizens of Georgia cannot purchase a property in the cities of Artvin and Ardahan. Citizens of Iran cannot purchase a property from Hakkari, Van, Agrı.
Deposit can be made in any currency which equals to $500.000 and after 3 years this amount can also be withdrawn as you deposited.
Staying in Turkey is not imperative for a particular period of time either before or after the acquisition of Turkish Citizenship via Investment. It is also not required that you live in a property which is purchased within the Turkish Citizenship by Investment programme, you are allowed to rent it.
There is no specific regulations enacted by the Turkish Government that specifies location of the investment in Turkey to benefit from Turkish Citizenship by Investment programme.
Only the spouse of investor and their under 18 years old (21 years old for Egyptians) children are eligible to acquire Turkish Citizenship by Investment programme. These rights do not apply to investor’s parents.
After your Turkish Citizenship is granted, you would have the same rights as Turkish Citizens by birth. You can work within Turkey border without any additional document needed.
Multiple people can be the shareholder of the property but each owner’s share value has to be equal or more than $250.000. For example, if 3 people purchase the property in equal shares (%33,3.. for each), the property has to be equal 3 x $250.000 = $ 750.000 at least.
Investor’s children, who are over 18 years old are not eligible for the citizenship application even if they are financially dependent on their parents.
Age of the investor’s child will be taken under consideration while starting the application procedures. If you start the application process (submitted citizenship documents to government citizenship office) before your child under 18, she/he will be eligible for acquisition of Turkish Citizenship.
To apply for Turkish Citizenship, total value of your properties purchased between 12.01.2017 and 18.09.2018 should be minimum 1.000.000 USD or total value of the properties purchased only after 18.09.2018 must be at least 250.000 USD.
You can purchase a property in installments via bank transfer to being eligible for citizenship application by your investment.
They can apply for citizenship only after you(investor) acquired the citizenship.
After a purchase and obtaining title deeds on your name, you become an owner of a property basing on the same rights as Turkish property owners. You cannot sell the property for 3 years as by the Turkish Citizenship by Investment programme but after that time you have a right to keep or sell the property and there is no restrictions in this matter.
You can purchase any type of property such as apartment, store, land, agricultural land etc. You can even combine them. For example, apartment for $100.000, store for $80.000 and land for $70.000.
Total process takes approximately 3 to 4 months.
There is no requirement regarding knowledge of Turkish language in order to benefit from Turkish Citizenship by Investment programme.
You cannot sell the property or withdraw the deposited amount of 500.000 USD for 3 years. However, you are eligible for Turkish Citizenship application right after you finalize the investment and you do not need to wait for 3 years to apply.
Turkish Citizenship would be granted for a lifetime and gives you the same rights as Turkish Citizens by birth.
You can purchase more than one real estate with a total value of at least USD 250,000 in your investment process. However, it is important for the validity of your application to be synchronous. In the same way, for the application to be valid, the values submitted to the Directorate of Land Registry and Cadastre must exceed USD 250,000.
There are three factors for calculation; 1- Official sales price of the property. The title deed office checks according to banknote selling rate of Turkish Central Bank of the previous working day if the amount the sales price equal $250.000,00 or not 2- Result of the valuation report. The result of the valuation report will be Turkish lira and it must be equal banknote selling rate of Turkish Central Bank of the previous working day whether the report date equal $250.000,00 or not.3- Receipt of the wire transfer. The title deed office checks according to banknote selling rate of Turkish Central Bank of the previous working day if the amount of the wire transfers equal $250.000,00 or not.
You can obtain citizenship if the applicant is verified that she/he does not pose any threat to the national security of Turkey, all the requirements are met and all documents are properly and accurately fulfilled.
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.
In order to receive citizenship with a $ 250,000 property investment in Turkey, you must have transferred the real estate on your name after 18.09.2018.
If a man becomes Turkish citizenship before he turns 21, it is obligatory to join Turkish Army. If you pay 43.000 TL (as 2021 price), you can be exempted from Military Service.
Your child must be under 18 years old in order to benefit from the citizenship coverage while using Turkish citizenship services. However, if your child has a disability, you can pass him / her to Turkish citizenship with the documents indicating that he / she needs care and other documents to be requested by the authorities.
If a foreigner owns a property in Turkey, he/she gets residence permit which is renewed every year if he/she keeps the ownership.
No, you do not need a residence permit to buy a property in Turkey. You may buy a property in Turkey without the residence permit.
The ownership document (title deed) is called as TAPU in Turkey. The Tapu is an official registry document in Turkey. It proves that you have ownership rights over the property. This ownership document is your registry at Land Registry and Cadastre Directorate.
The valuation reports are valid in 3 months.You need to get the evaluation report from inspectors who licensed by government and determined by Land Registry and Cadastral Directorate . There are independent private firms who licensed by government, www.webtapu.com picks automatically one of them on your online application. They go to project which you want to buy and check the market value of the property, title deed records, plans, construction licenses, zoning permits, square meters etc. And they write down very detailed report. We can help you to get valuation report. It will take 2 to 3 days to get it and cost around 2.500 TL. To conclude, the result of the evaluation report also will be Turkish lira and it must be equal the central bank banknote selling rate according to the day before date of that they issue the report. The evaluation reports valid for three months.
Yes. Aslan Attorney is an experienced law firm for establishing company, amalgamation of businesses. We have setup investment companies in Turkey owned by client’s private company abroad.
Depends on a company. There are restrictions to sell the property to foreign companies. If you invest in a factory or industrial production, your foreign company may own property in Turkey. If you only want to buy and sell a property, foreign companies are not allowed. Governor Committee of the province will decide if a company whether own property.
There is no restriction for selling a property in Turkish Law. Because of that foreign investors should be careful when buying a property. Please purchase a property from professional agencies and established companies with experienced lawyers. Aslan Attorney is a registered real estate agency at the Istanbul Chamber of Commerce.
Whenever you buy a property from a real estate agency, registered and licensed real estate agents are entitled to receive 2% service fee over the actual sales price of the property both from the purchaser and the property owner separately.
Buying an apartment by Aslan Attorney has several advantages: firstly; you view a wide range of properties that match your budget and quality expectation. Secondly; You notice the differences between different property developers, not only one construction company. Third: you experience the benefit of our professionalism, secure buying process and great after sales services.
Negotiation depends on the agents' habits. Because every property has different owners, some negotiate and some not. In Istanbul, most of the mega project owners do not negotiate on price. They use mostly campaigns to pump up their sales. So better to catch these campaigns and sing up to our newsletter.
Every country citizen may buy property in Turkey except the countries which Turkey does not recognize diplomatically (like Armenia, North Korea, Taiwan and Syria) The following countries, which are neighbors of Turkey, cannot purchase real estate from the Turkish cities they border. But they can buy from other provinces. 1- Iraq – cannot purchase in Şırnak and Hakkari 2- Iran – cannot purchase in Hakkari, Van, Ağrı, Iğdır 3- Georgia – cannot purchase in Artvin and Ardahan 4- Azerbaijan – cannot purchase in Iğdır 5- Bulgaria – cannot purchase in Edirne and Kırklareli 6- Greece – cannot purchase in Egean and Marmara Sea side cities of Turkey.
Yes, there are two ways. The bank loan or long-term payment plan from construction companies where you can buy a home with credit without the preparation of the documents.
You pay approximately 5.000 USD reservation fee upon contract signature. Most developers offer payments on stages like the completion ratio of each building stage. Circumstances may vary from one developer to other developers. For a certain answer, you need to ask to our agent's payment plan table of each offer.
We need only your passport. All needed documents are prepared afterward depending on your passport upon purchasing.
You need a tax number and address evidence. When you plan to come to Turkey, bring address evidence where your address and name wrote on the bill. According to the bank legislation, your address must be proven by an electric, water or internet bill which shows your address and name.
There are several costs upon buying property.
Maintenance fee depends on a unit. Upon purchasing a house, please ask the expected maintenance fee.
You pay "annual property tax" to the municipality. Environmental tax and wealth tax are added in the water bills generally.
Ask rate Aslan Attorney lawyers to help you ensure your property for full risks.
We help our customers to rent their property under secure conditions for long term. We do not give service for short-term rentals.
Our team handle the renting process, after your investment and you can follow all your monthly incomes in your bank account.
If the bank receipt is paid in Turkish Lira, the banknote selling rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding the payment date is relied upon to calculate the USD equivalent of the value in the bank receipt.
Total values calculated based on the banknote effective selling rate of the Central Bank of the Republic of Turkey applicable on the last working date day preceding date, when each bank receipt is issued, must reach USD 250.000.
A valuation report is to be received from the valuation firms determined by Land Registry and Castrate Directorate website. ( www.webtapu.com )It is valid for three months following the issue date. It will be considered valid starting from the time it is submitted until the procedure is complete.
It must be deposited to the bank account of the seller or the seller’s authorized representative through such means as money transfer, EFT, wire transfer etc. by the purchaser or the purchaser’s authorized representative. Payment must be documented. For real estates owned by public institutions and enterprises, such as TOKİ and Emlak Konut, the transfer/payment of the price may also be evidenced by a certified bank receipt or official letter showing the amount received.
Certificate of Conformity issues by General Directorate of Land Registry Office. After title deed transfer, Aslan Attorney Lawyers annotate three years holding commitment on behalf of client and necessary documents will be sent to the General Directorate of Land Registry Office for officers’ review. Single property’s certificate would be issued in a week. More than one property certificates take 2-3 weeks. The foreigners, who receive a certificate of conformity, firstly apply to the Provincial Directorate of Migration Management for residence permit and to the General Directorate of Civil Registration and Citizenship Affairs for citizenship.
It is possible if the share is worth USD 250.000 minimum.
It is possible.
No. It is possible to apply for the real estates purchased at different times
It is not possible. The real estate must be registered to the individual person, who is to file the application.
It is not possible. The real estate(s) to be sold or promised for sale must not be registered to the legal personality of the company, in which the foreign natural person is a shareholder or director.
The real estate(s) to be sold or subjected to the promise of sale must be registered to Turkish citizens. Moreover, it also must not be a real estate transferred by a foreign individual person after the date of 12.01.2017 (Including the foreign natural person to acquire and his/her spouse and children).
It is possible but you lose the citizenship. The procedure will depend on the response to be received from the Provincial Directorate of Civil Registration and Citizenship Affairs.
In this case, the advance payment amount remaining after subtracting the loan amount shall be taken into consideration. For sales with legal mortgage, on the other hand, the portion paid in advance must match the value of USD 250.000.
It is possible if this is clearly stated in the power of attorney.
Yes, it is possible. As of 07.12.2018, the application may be filed with notarized preliminary sales contract which states that aforesaid property will not be sold for 3 years, sale transaction will be completed and will not cancel, provided that the minimum amount of USD 250.000 or equivalent thereof is paid in advance for real estates with condominium or construction servitude created thereon.