On Jan. 1, Turkey will implement new rules for obtaining citizenship by investment. What are these rules?

The General Directorate of Land Registry and Cadastre of Turkey has adjusted the program «Citizenship by Investment» and published new rules. The amendments will take effect on Jan. 1, 2023.

What will not change? The amount of investment in real estate will remain the same — $400,000.

The main changes in the «Citizenship by Investment» program:

  • The amount of investment cannot be spread over several objects

That is, you can buy as many objects, but at least one must be worth at least $400 thousand. Otherwise, it will be impossible to apply for citizenship.

BUT there is an exception: if you buy several objects on one contract, then split the amount into several parts to obtain citizenship is possible.

  • To buy shares of facilities is not allowed

So in general, you can do this and for any amount, but not for participation in the program. One object must belong to only one owner.

  • One object — one citizenship

You can't get more than one passport for one purchased object.

  • It is necessary to buy objects from Turkish owners

If you buy an object that recently belonged to a foreigner, you can not participate in the program. At least 3 years, this object must be owned by the Turkish owner.

  • The payment must be made from your own funds

Credit can be taken, but only after your own deposit of $400,000.

  • An object should not be sold to its original seller

After obtaining a passport, you can not sell real estate to the person from whom you originally bought it — otherwise, the obtained citizenship will lose its force.

  • It is necessary to get a real estate appraisal report

This should be done no later than three months before the preliminary contract of sale is notarized.

  • There are nuances to be considered when transferring money

If the transaction takes place before the issuance of the currency purchase certificate, the transfer must be made in foreign currency; if after the issuance of the currency purchase certificate, the transfer is made in Turkish Liras.

All details can and should be clarified with immigration consultants.