According to the news published in the Turkish Official Gazette on 07.12.2018, foreigners who want to buy property for Turkish citizenship applications now can apply with under construction or off-plan properties worth 250.000 $. The applicants can obtain citizenship, after notarizing their sale contract worth 250.000 $, proving their commitment to buying a property in Turkey.
Turkish Citizenship by Using Notarized Property Purchases
Title deed and appraisal report were obligatory to the citizenship application process. When applicants buy a property from under construction complex, they couldn’t apply for citizenship because they can't get a title deed or had a chance to learn the property's real value by appraisal report until the project is completed. A newly added chapter in regulation now allows the notarized sale contracts use in Turkey citizenship applications. The notarized contract stating that the real estate sale is made with cash payment and the commitment that the contract will not be transferred or abandoned for three years is sufficient.
New decisions added to the regulation according to the Turkish Official Gazette;
• At least 250.000 $ wort property purchase commitment must be organized by the notary,
• The commitment contract must have a 3-year non-salable clause.
• The rules that the commitment to purchase can also be applied to properties under construction and at the project stage.
Also, a few months ago there was a circular, reducing the requirements for Turkish citizenship applications;
• The fixed amount of the capital money the foreigners must have are now 500.000 $ instead of 2.000.000 $.
• Buying real estate for citizenship application limit is also 250.000 $ instead of 1.000.000 $.
• Number of employed workers with Turkish nationality is 50, instead of 100.