The new regulations for Turkish Citizenship guide is updated. The main highlights of the new regulations are; no more multiple citizenships for joint property ownership, citizenship by purchasing timeshare property is not valid anymore, and also the amount of property value that is determined by law has to be in a single contract.
The new regulations will enter into force on 01 January 2023. So, you may find the highlights of the new regulations below.
New Regulations in Turkey Citizenship By Investment Program
Turkey citizenship by investment is a highly demanded way for applications. The new regulations will be entered into force at the start of the next year. The details are;
One Title Deed, One Citizenship Application
According to the current regulations, which are Circular No. 2019/5 and its annex Guideline dated 13/06/2022, foreigners can obtain multiple citizenships with joint property ownership. The new regulations removed this case by regulating the new rule as a single citizenship application will be done with a single title deed. So, if an individual foreigner purchases a title deed that is in joint ownership status currently, that foreigner can apply for citizenship. But, if foreigners have a joint ownership title deed, they can not apply. In short, the title deed must be gotten without shares.
Citizenship by Purchasing Timeshare Property is Not Possible Anymore
New regulations foresee that, for citizenship by property purchases, there are no obligations on the type of property, such as residency, workplace, plot, agricultural land, garden, etc.
For applications with a preliminary contract for sale, condominiums or construction servitude is needed. Also, the properties registered as timeshare properties are not suitable for citizenship applications anymore.
Single Contract is Permitted for Citizenship Application
For Turkey Citizenship program applications with a preliminary contract for sale, the required property value must be met with a single contract. There is no limit for property count as long as they are included in the same contract. So, meeting the required amount with multiple properties in the same contract is permitted. But, meeting the required amount with multiple contracts is not permitted.
The new regulations will enter into force on 01 January 2023. The purchases till this date will have resulted with the current regulations from Circular No. 2019/5 and its annex Guideline dated 13/06/2022.
If you are willing to get more detailed information on Turkish Citizenship by investment, you may take a look at our page.
