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FAQ – Next Investment

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FAQ

What should be done to receive a “Certificate of conformity”?

Once the necessary procedures have been completed, a statement must be made and included in the application document or official document, stating the following: “I undertake to not sell the property, which was purchased for the purpose of acquiring Turkish citizenship, accordance to Article 20 of the Regulations on the Turkish Citizenship Law.” It should be written in the Property Register as follows:  “There is an undertaking to not sell the property for three years from the date of acquisition or getting the statement, according to Article 20 of the Law on Property.”

How to transfer the sales price of the immovable?

It is possible to carry out the transfer of the sales fee as Turkish currency or foreign exchange through the foreign country’s banks or our country’s banks. It also must keep the transfer receipt to prove the funds transfer process.

Where can I get the valuation report and what is the validity period?

The valuation report will be taken from the valuation companies published on the web page ( https://www.bddk.org.tr/Kuruluslar-Kategori/Bankalara-Degerleme-Hizmeti-Vermeye-Yetkili-Kuruluslar/11/ ) of the BDDK. The valuation report presented during the acquisition application must be dated up to three months until the transaction is completed.

How to determine the immovable sales value for citizenship in the deed?

Sales price on the authenticated contract and the market value determined by the valuation report (each individually) should be higher than the price sought in the regulation. The exchange rate is determined according to the sales day, published by the central bank.

What are the documents required to apply?

  • Title Deed of the immovable document, real estate registry, land information or building plan.
  • Identity certificate/passport (with Notarized-Sworn Translation as required)
  • “Immovable Valuation Report” published on BDDK’s web page and received from valuation agencies (https://www.bddk.org.tr/Kuruluslar-Kategori/Bankalara-Degerleme-Hizmeti-Vermeye-Yetkili-Kuruluslar/11)
  • Tax number
  • For buildings (residential, workplace… etc.) Mandatory earthquake insurance policy
  • 1 photo of the buyer and 2 photos of the seller (taken in the last 6 months, 6×4 size)
  • The “Real estate maket value certificate”, which was taken from the municipality
  • Bank-approved remittance notes (can be issued before or after sales)
  • Sworn translator for non-Turkish speaking party (authorized by the District Judicial Judicial Commission)
  • If there is a representative, the document for the representation or Power of attorney is required.

Is it possible to apply for the acquisition of Turkish citizenship in an exceptional way for the previously acquired immovable?

Yes, for immovable goods purchased between 12.01.2017 and 18.09.2018, the share value should be at least $1 million. The share value of the immovable purchases on and after 19.09.2018 must be at least $250,000.

“The properties which purchased before 12.01.2017, are not included”.

Is it possible to apply for the acquisition of Turkish citizenship in an exceptional way with the immovable shares taken as a stake?

Yes, for immovable goods purchased between 12.01.2017 and 18.09.2018, the share value should be at least $1 million. The share value of the immovable purchases on and after 19.09.2018 must be at least $250,000.

For Turkish citizenship, could there be more than one immovable to buy?

Yes, several properties can be purchased with a total value of at least $1 million between 12.01.2017 and 18.09.2018. The sales value of the immovable purchases on and after 19.09.2018 must be at least $250,000.

Should all the properties be taken at the same time?

No. You can purchase the properties at different times. However, for the immovable goods purchased between 12.01.2017 and 18.09.2018, the value of the asset should be at least $1 million. The sales value of the immovable purchases on and after 19.09.2018 must be at least $250,000.

What should be the nature of the immovable?

The quality of the immovable is irrelevant in the process of making a commitment through purchase. (Can be housing, workplace, land, field, garden, etc.). However in the case of purchasing a land, it must be proved by the sales promise agreement.

How should the revised valuation report be edited for previously deed-acquired immovable?

If the acquisition process completed (deed taken) for immovable which is not going to be sold the immovable for 3 years, or if there is the immovable valuation request for showing the value of the immovable on the immovable sales/acquisition date.

Does it matter from whom the immovable is purchased on the citizenship application?

The immovable must not be registered on behalf of any foreign real person, including the person’s wife and children. Immovable property must not be transferred by the foreign person, spouse, children or any foreign person after the date of 12.01.2017.

Can foreigners with a foreign-owned company or partner, apply for citizenship with company’s immovable property?

They cannot apply, because the right to acquire citizenship in an exceptional way through the immovable purchase path is valid for the immovable of real persons.

It is possible to sell the immovable before the pledge expires?

Yes, but you should report to the General Directorate of Population and Citizenship affairs to reassess Citizenship-related status.

It is possible to apply for citizenship if the purchased immovable is mortgaged?

Yes. However, in determining the value of the immovable, the remaining part is taken into consideration after the mortgage price is deducted.

It is possible to apply for citizenship if the immovable is taken with a housing loan?

Yes, after deducting the credit amount taken from the bank, the remaining portion must meet the lookup value.

Is it possible to make immovable purchase applications for obtaining Turkish citizenship in an exceptional way by using the power of attorney?

It is possible if this is clearly written in the attorney’s name.

Is there a barrier to the acquisition of the company’s immovable property?

The partner or the manager of the company cannot be the buyer

Is it possible to apply for Turkish citizenship with the contract of sale?

Yes, if the value of the property is $ 250,000 or its equivalent in other currencies, in advance, subjected to agreement of the promise of purchase.

Is the installment sale of the property possible?

Yes, if the sales process has made after 19.09.2018 date.

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