Real Estate in Turkey How to Obtain a Turkish Citizenship for a Real Est | Page 2

Mr. Yetgin added that the procedures of the land registry for foreign investors
should be facilitated and accelerated to attract the largest number of them to the
real estate market, in addition to facilitating procedures for issuance of housing
licenses and other relevant documents.
Information on the current law for the granting a real estate citizenship
The law that grants Turkish citizenship to foreign investors in return for owning a
real estate in Turkey worth one million dollars, was issued last year and was
published in the Official Gazette on 12 January 2017. The law requires the
property’s ownership should last for at least 3 years, to allow for applying to get a
special Turkish citizenship.
Turkey relies heavily on the real estate sector as one of the most important pillars
of economic growth, which is linked to dozens of sectors directly or indirectly and
supports this sector to the maximum extent possible.
Turkey encourages investment in the real estate sector and offers many
advantages and facilities to those who invest or buy property in Turkey after the
real estate market has experienced significant growth, especially following the
change in the Foreign Ownership Act of 2012, which allowed foreigners to own in
Turkey.
The law, which gives the right to obtain Turkish citizenship on an exceptional basis
for a $ 1 million property for at least three years, is one of the most important
advantages to Turkey.
Conditions for Obtaining Real Estate Citizenship