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Turkish Citizenship by Real Estate Investment

Following the relaxation of the Citizenship by Investment law in Turkey in December 2018, many investors are taking advantage of the fact that, for an investment of just $250,000 they, their spouse and dependent children can obtain Turkish Citizenship and a Turkish passport.

 

The Turkish passport is ranked 22nd in the world and offers visa-free travel to 47 countries.  In addition, entry to a further 41 countries is permitted with visa-on-arrival.  Such countries include:  Qatar, Tunisia, Jordan, Iraq, Morocco, Japan, South Korea, Malaysia, Singapore, Hong Kong, Indonesia, Brazil, Argentina, Belarus, Bosnia and Herzegovina, Brunei Sultanate, Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia, South Africa, Thailand, Turkish Republic of Northern Cyprus, Ukraine and Uruguay.

 

One of the ways you can apply for Turkish citizenship as an investor is to buy property/ properties to the combined value of $250,000, with the proviso that the property will not be sold within 3 years.  Once the sale has been concluded a Certificate of Eligibility will be issued to the property owner.

 

There are other ways in which you can apply for citizenship, without owning property (such as making a minimum investment of $500,000; creating jobs for at least 50 Turkish citizens; buying at least $500,000 worth of Turkish Government bonds etc), but buying property, whether residential or commercial, is the route most preferred by foreign investors.

Once the Certificate of Eligibility has been issued, the foreign citizen must then apply for a Residence Permit before later submitting an application for Turkish Citizenship.  The procedure for acquiring citizenship goes through several stages, and concludes when the application has been passed by the Turkish Presidential office.

 

Investors may wonder about the benefits of Turkish citizenship.  The most obvious is the ease of access to over 80 countries, including the Schengen states of Europe (for which a visa is required, but easily obtained), but being a Turkish citizen also offers many other benefits such as free education, access to excellent health facilities, life in a safe and beautiful environment etc.

 

Obtaining a passport in a foreign country sounds quite difficult and could be a daunting prospect for some, however Turesta’s professional legal team and property advisors, who are knowledgable in all matters related to real estate and the Citizenship application, will make the process very easy.

 

 

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Must see Places in Istanbul

Istanbul, founded around 1000 BC, has been a home to various empires. It is located both Europe and Asia, so it is a bridge of two cultures. It named as Constantinople in Byzantine times, before the Ottoman conquest. Then it named as Istanbul, after the Turkish Republic. So, Istanbul has hundreds of must see places, with it’s glorious and long history. Therefore, we tried to inform you about some of them briefly.

Hagia Sophia

The Hagia Sophia in Istanbul, Turkey, is an immense architectural marvel that was originally built about 1,500 years ago. Firstly, Hagia Sopia is built as a Christian basilica. Besides, it is a long-lasting emblem of the cosmopolitan city, much like the Eiffel Tower in Paris or the Parthenon in Athens. Over the centuries after, though, its role has changed several times. However, back in that time, Hagia Sofia was the biggest church that ever built.

Subsequently, Fatih Sultan Mehmed converted Hagia Sophia into a mosque after the victory in 1453. After Turkish Republic, Mustafa Kemal Ataturk converted it to a museum. Therefore, it can be the most popular attraction of must see places for tourists in Istanbul.

Currently, Hagia Sophia is a museum. Consequently, visiting hours are 09:00-17:00 with the last 16:00 entry time at winter period and the summer schedule visitor hours are 09:00-19:00 with the last 18:00 entry time.

More info: https://ayasofyamuzesi.gov.tr/

Hagia Sofia, the most popular of must see places

Topkapi Palace

Moreover, another important historic place in Istanbul is the Topkapi Palace. Firstly, the palace was an Ottoman sultan’s home, the state’s bureaucratic and academic center. After that, On April 3, 1924, after the overthrow of the Ottoman empire, it was turned into a museum by order of Mustafa Kemal Ataturk.

It still attracts attention hundreds of tourists as a museum today. Every day, except Tuesdays, the museum is open to visitors. Ticket office is closed at 16:00 in the inter-season. And it is closed at 18:00 during the summer season.

More info: https://topkapisarayi.gov.tr/tr

Topkapi Palace

Istanbul Archaeology Museums

Istanbul Archaeology Museums consist of three museums. Those are Archaeology Museum, Old Eastern Works Museum and lastly Enameled Kiosk Museum.

Istanbul Archeology Museums were opened to the public on 13 June 1891. Moreover, famous artist and museum director Osman Hamdi established it as Empire Museum at the end of the 19th century . Besides its importance as the “first Turkish museum”, one of the museum buildings has an importance and speciality that is built as a museum in the world. Today, with more than a million works belonging to different cultures, it still protects its exceptional place in the world’s largest museums.

More info: https://www.ktb.gov.tr/EN-113940/istanbul—archaeology-museum.html

Archaeology Museums

Dolmabahce Palace

The 31st Ottoman Sultan, Sultan Abdulmecid designed the Dolmabahce Palace. The palace attracts attention because of its magnificent architecture, history and because it is located on the Bosphorus shores. Besides, Dolmabahce Palace is near to a variety of Istanbul tourist attractions, including Taksim, Besiktas and Kabatas.

More info: http://www.millisaraylar.gov.tr/saraylar/dolmabahce-sarayi

Dolmabahce Palace

Further, if you want to travel Istanbul untill satisfied, maybe you can consider to buy an estate and get a Turkish Citizenship.

Fore more information you can read this post of ours: https://turesta.com/how-does-the-application-process-for-citizenship-work-in-turkey/

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Real Estate Market in Kucukcekmece

Kucukcekmece recently is one of the most popular real estate areas. Both domestic and global buyers, who are searching for an investment or house for living, are interested in properties in Kucukcekmece.

Location

Kucukcekmece is located in European side of Istanbul. It is near to main highways such as Transit European Motorway (TEM-E80) and the D100 (E5). So, these offer a good connection between Asia and Europe. It is also located on Sirkeci to Europe’s railway network.

History

Kucukcekmece is Istanbul’s basis for ancient life. Because, studies conducted by many geologists and anthropologists has shown that the area has a pretty old history. Besides, anthropologists have even found evidence of prehistoric people living in the area.

Kucukcekmece enjoys a strategic location owing to its existence on the main road “Via Egnetia,” It links the Byzantine Empire with the Western territories and Europe. Because of its strategic location, it has been targeted by the Huns, the Bulgarians and the Crusaders within the history.

Most buildings in this region date back to Roman-Byzantine days. Because of that, geologists and anthropologists found the harbor system and the peninsula of the pier enclosed by a few kilometers of walls on the peninsula north of Kucukcekmece Lake.

For more information about its history: https://kucukcekmece.istanbul/icerikler/kucukcekmece/tarihi/709

Lifestyle

Citizens are now exploring the 7-kilometer lakeshore to experience events such as show-grounds, jogging tracks, cafes, picnic areas, etc. The city has cultural centers where people are prepared for social events such as concerts, theatres, markets, and Ramadan evenings. Moreover, Kucukcekmece holds numerous farmers ‘ markets on different days of the week for fresh and organic fruit and vegetables.

Real Estate

If you’re looking for a new home or an investment, you can consider Kucukcekmece. Above all, it has a wide range of real estate choices with its twenty-one neighborhood. Besides, the area maintains high-quality real estate choices to fulfill the needs of buyers.

If you wonder why you should invest in Turkey, you can read this post of ours: https://turesta.com/what-are-the-advantages-of-investment-in-turkeys-real-estate/

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Real Estate Market in Bakirkoy

Real estate market in Bakirkoy attracts attention of both domestic and foreign investors. The area is the first choice of owners of property who purchase for investment purposes. The area is in the west side of Istanbul(the European side) facing the Marmara Sea to the south, while the E-5 route passes through the north of the city.

History

Kucukcekmece was founded by Konstantin in 384 A.D. on Istanbul’s west side as a spot for a rural escape. In the area there are parts of several Rome and Byzantine sites. Several objects from the first Bronze Age in Ayamama Creek have also been discovered by archeologists. Different buildings constructed during the Suleyman the Magnificent era can be found on this peninsula, while the Carsi Mosque, which dates back to the 17th century, is the oldest building in the middle of Bakirkoy.

You can go to website of town for more information: https://www.bakirkoy.bel.tr/bakirkoy/ilcemiz/tarihce.html

real estate in bakirkoy

Economics

Bakirkoy is near to many domestic and global companies and plays a vital role in Istanbul’s economy. There are presently 132 bank branches in the middle of Bakirkoy and its numerous communities as a significant hub for the banking sector. The district is also home to the World Trade Centre, which displays Turkish export products.

Lifestyle

Bakirkoy is host to several performing activities centers including five local cultural centers and two personal cultural centers where there are public events such as concerts, theatres, festivals and sporting events every year.

real estate in bakirkoy

Real Estate

Bakirkoy’s fifteen neighbourhoods have a large variety of property options. Because of that, real estate in Bakirkoy is very alive these years. For various reasons, the district appeals to numerous investors.

If you wonder about investing in Turkey you can read this post of ours: https://turesta.com/great-reason-for-investing-in-turkey/

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Which District of Istanbul Suits You?

”Buying an estate from Istanbul” idea, creates a reasonable question in heads: Which district of Istanbul? Firstly, Istanbul is Turkey’s most historical, social, and socio-cultural city. It is the region that binds the worlds of Asia and Europe with both an Asian and an European face.

Besides, the region is made up of 39 zones, linked by several major transportation routes and hundreds of different highways. So, if you are searching for a residential or investment house, we suggest that you narrow down your search results with detailed questions.

Which District of Istanbul Suits You?

Best Districts of Istanbul for Investment

Identifying the reasons for buying can help you focus on the right areas. For instance, if you need to be near to Istanbul’s business center, the districts of Maslak and Levent will be a great option for you. But, if you’re searching for a family home, you can reduce your options with lifestyle, travel possibilities, and budget choices.

Here is a great website for you to follow events in Istanbul: https://howtoistanbul.com

Lastly, if you are contemplating purchasing a property as an investment, we recommend you to choose either the tourist districts (such as Fatih) or business centers. To conclude, three items you need to consider, your purpose for purchasing, your budget, and lifestyle.

 

Selecting the Right Neighborhood for Real Estate in Istanbul

The next move is to find the correct neighborhood for your ideal Istanbul estate until you have selected the best district to match your needs. Price levels differ by district and by neighborhood as well. You have to consider what the neighborhood’s aspirations are. Do you want to live in a building along the Bosphorus, for instance, or are you searching for an office close the business districts for your firm? Would you like on-site parking, swimming pool or fitness center? It is important to remember that all these features can impact property prices.

Which District of Istanbul Suits You?

In conclusion, until joining the real estate industry in Istanbul, you need to consider about which district of Istanbul?

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Real Estate Market in Sisli

Sisli is situated on the city’s European side. In recent years, real estate market activities in Sisli rises regularly because it is one of Istanbul’s most-known trading zones. Firstly, this region can be the center of business, finance, shopping, and culture-art. Besides, it’s neighboor to Besiktas, Sariyer, Eyup, Kagithane, and Beyoglu. In 2018, the Sisli district’s population was 271,000.

History

For a very long time, there was no structure in here. Sisli was established in the 18th century, after that, it used for hunting and farming. Then it became a prominent middle-class region in the late 19th century.

During this time, French architectural style was very popular. For that reason, they built high ceiling buildings on Sisli’s wide streets in that time. Besides, they made art nouveau wrought iron balconies. These buildings are still in the region of Sisli today. It was one of the first regions provided with electrical energy and natural gas in the late nineteenth century.

For more information: https://www.sisli.bel.tr/icerik/sisli-tarihcesi

Economics

Sisli is a place for shopping, retail, art and culture which provides public transport really well. Today, in Sisli’s large avenues, there are major trading spaces like offices, clothing stores and banks. Moreover, some of the large and best companies’ offices are in this area. Above all, the main road through Sisli is with Mecidiyekoy, Gayrettepe, Levent’ skyscrapers views.

Transportation

real estate market in Sisli

Sisli can be considered as transportation center of Istanbul. It is close to Asia side with bus, metrobus, marmaray line and ferries but also it close to West side of Istanbul aswell. Location of the are is center of Istanbul and this enables to closeness to everywhere.

Daily Life

Sisli is home to many cultural art centers where every year there are social events like music festivals, theatres, and sporting events. There are also lots of educational institutions, universities and academies in the district of Sisli. Within the district lines, there are 14 pre-schools, 36 elementary schools and 29 secondary schools. The district of Sisli consists of 25 areas.

Shopping centers are important features of Sisli. It can be the best area for shopping in Istanbul. Most of popular shopping malls are located in here such as: Cevahir Mall, Trump Shopping Center, Kanyon Mall, Metrocity Mall and many others.

real estate market in Sisli

Real Estate

You can find properties in Sisli with high quality standards and an ideal place to meet your demands. Whether you’re hunting for your own house or investment property, there is a huge variety of real estate market in Sisli. Well-known medical, education and civic services operate in this district. In other sentences, for various reasons, Sisli’s real estate market tries to appeal to various investors. 

If you wonder about investing in Turkey and getting Turkish Citizenship, you can visit this post of ours: https://turesta.com/what-are-the-advantages-of-investment-in-turkeys-real-estate/

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Real Estate Market in Esenyurt

Esenyurt is on Istanbul’s European side. Real estate market in Esenyurt is growing day by day. Because, Esenyurt is bordered on the west by Buyukcekmece, the east by Avcilar, the north by Arnavutkoy and the south by Beylikdüzü. It is also near to the north side of the TEM road and the south side of the E-5 motorway. Istanbul’s one of the largest and crowded area is Esenyurt.

If you wonder, you can see some of the projects of Esenyurt Municipality in this site: https://www.esenyurt.bel.tr/home/Projelerimiz

Lifestyle

There are always a cultural event in Esenyurt, because of the four cultural centers. Besides, huge parks, greaat universities and primary schools are exists.

Esenyurt is advantageous in development and improvement. It is now home to four cultural centers such as: concerts, theatres, festivals and sporting events. The TUYAP Exhibition and Conference Center is just 5 km from the center of Esenyurt.

real estate market in esenyurt

Economics

There are lots of new building projects in Esenyurt, therefore it is one of the most famous real estate districts. Young population is high because of its closeness to six universities. There are three major shopping centers in the district: Eskule Shopping Centre, Torium Shopping Centre, and Akbatı Mall. The city is also improved well with several metro and bus lines in terms of public transport.

real estate market in esenyurt

Real Estate

Esenyurt is a region with its large economy and wide range of products that should not be dissmissed in terms of property. Real estate market in Esenyurt ranges from small apartments to luxury residences. Esenyurt’s real estate market appeals to various investors for various reasons.

To conclude, Esenyurt has a wide range of real estate choices, whether you’re searching for your own house or an investment property. There are enough reasons for you to invest in Turkey, likewise in this post of ours: https://turesta.com/great-reason-for-investing-in-turkey/

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Turkish Citizenship Questions Top 15

The Turkish Investor Program is a privileged citizenship program that enables you, by investing in Turkish real estate, to receive a Turkish Citizenship with the right to live, work and enjoy easy access to Schengen countries. So, we responded to the 20 most frequently asked questions in 2019 on this topic.

How do I calculate the USD and TL exchange rate?

The Tapu Office will calculate the value of your investment on the date of your move, depending on the selling price of the Central Bank.

How long does the Turkish Passport process take?

The processing time is currently about 3 and 4 months, but the Turkish Government focuse to reduce this time.

Could I purchase rental-income commercial properties and still acquire Turkish Citizenship by investment?

Sure, any property you purchase will count towards your application for citizenship.

Applying and obtaining Turkish Citizenship seems a little complicated. Do you offer any help in this process?

Sure, our legal team of experts are available to assist you and help you through the process.

I have no time to come to Turkey. How can I get Turkish Citizenship?

Firstly, you just need to set up and send your Power of Attorney to Istanbul Government Projects. We can then follow all the processes, from the purchase of your property to your citizenship.

How many people may apply for on one Title Deed?

Only one person and family (spouse and children under 18) can obtain the Turkish Citizenship.

Before 20.09.2018, I bought property. May I apply to become a citizen?

Yes, if your investment was made before 20.09.2018, by investing a total of $1.000.000 you can apply for citizenship.

I purchased property before 20.09.2018. Can I apply for Turkish Citizenship through the transfer of ownership of my property?

Turkish laws prohibit the issuance of nationality through such transfers. Hence, to order to apply for Turkish Citizenship, you should sell your property and make a new investment.

If I become a Turkish citizen, do I need to complete the Turkish military service?

There are several ways to answer this question. Children under the age of 18, when they reach military age, will be forced to complete military service. It has a dual citizenship requirement; so you can choose between your two countries. For example, if in your own country you have already completed military service, you may need to prove it. Besides, for people over the age of 22, you need to ask at the application stage if there is a special condition for adequate information at the Directorate General of Population and Citizenship.

Which nationalities are able to qualify for Turkish passport?

Certainly, all nationalities that are able to buy property in Turkey can apply for Turkish citizenship through investment.

Can my mother and father get Turkish citizenship? What about my child over the age of 18?

Only if they buy property worth $250,000 or mor in their own name can they be eligible to apply.

I have an disabled child over the age of 18? What about the situation with him / her?

Every dependent person who is unable to take care of themselves can become Turkish citizens with their parents by submitting special application documents proving their disability.

What are the required citizenship documents?

Once you have purchased property with us, Istanbul Government Projects will help you supply all the necessary documents.

You say, the process of Turkish Citizenship could take six months. Do I get a residence permit during this process?

Yes. You and your family are granted a residence permit (no:6458/31-J).

Is there a critical point I should know about?

The Turkish Ministry wants to make sure that the value of the property is $250,000, and sworn property valuation firms have to verify that the price is right in order to avoid any price manipulation. Appraisers may have a deviation of up to 2-3 percent (difference) from the property selling price, for that reason, Istanbul Government Projects may advise you regarding property valuation.

Moreover, for more information about getting a Turkish Citizenship and its advantages, you can visit this post of ours: https://turesta.com/what-are-the-advantages-of-investment-in-turkeys-real-estate/

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Real Estate Market in Kagithane

Kagithane is one of Istanbul’s 39 regions. It is situated on the city’s European side. Real estate market in Kagithane has become one of the city’s largest areas of real estate development. Also, Kağıthane has a central location, Sarıyer in the north, Beşiktaş in the north-east, Şişli in the south-east, Beyoğlu in the south-west and Eyüpsultan in the west of it.

The district’s history

The district was a woodland and a hunting location in the time of Suleyman the Magnificent. Back then, it wasn’t Kagithane, it was “Sabadad”. Mansions and summer palaces were built in the district during the 17th and 18th centuries.

real estate market in kagithane

Then, it became a region of factories between the nineteenth and twentieth centuries. Since it became a region of paper factories, its name has changed to Kagithane. In fact, by combining two words, the name Kagithane was developed. In Turkish, the word “Kagit” means “paper” and “hane” means “house.” Combining the two means “house of paper.”

Besides, the district has become one of Istanbul’s biggest real estate development areas now. It has become a chosen area for those looking for a home for investment or living purpose because of its central location.

For more information about its glorious history you can visit the website of Kagithane Municipality: https://www.kagithane.istanbul/kagithane_hakkinda/tarihi-yerler-liste/Sadabad-Saraylari/26/0/0

real estate market in kagithane

Real estate

Above all, the design of real estate involves a wide range of mixed-use projects, shopping mall, hotel, school, office or residential. So, in Kagithane, you will find properties with high quality standards and in the best location to meet your expectations.

Kagithane has a wide variety of real estate market options, whether you’re looking for your own home or an investment property. Hence, for various reasons, Kagithane’s real estate market appeals to various buyers.

Lastly, if you are willing to learn more about investing in Turkey and its advantages you can visit this post of ours: https://turesta.com/great-reason-for-investing-in-turkey/

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Real Estate Market in Silivri

Silivri is one of Istanbul’s 39 districts. Real estate market in Silivri attracts attention due to its peaceful and silent summer houses. Situated on the city’s European side. It is a district on the highway E-5, 69 kilometers west of downtown Istanbul. So, for those who want to get away from Istanbul’s dynamics, it is a coastal city and the most preferred zone. Certainly, Silivri is one of the districts which is away from Istanbul’s stress. It is the west gate of Istanbul and above all Silivri is the place to swim in a beautiful sea in Istanbul. Therefore, it is a well-known tourist destination in summer time.

Position of Silivri

Firstly, Silivri has the benefit of being at the entrance to Turkey’s biggest trade and manufacturing centers on important and well-known highways. Besides, it is linked with advanced highways to the large residential and industrial areas. So, the geographical position makes Silivri an investor-friendly city. Silivri has the benefits of being the entry point of Kocaeli and Istanbul, Turkey’s main shopping centers.

real estate market in silivri

Silivri’s daily life

In Silivri there are many hospitals and special health centers. Some are owned by the government and others are owned by a private corporation. Besides, the city has seven high schools. Primary and secondary schools also exist.

According to the findings of the Turkish Statistical Institute (TUIK) 2017 Address-Based Population Registration System, the population of Silivri is 180,524. However, the district population varies depending on winter and summer seasons.

real estate market in silivri

In Silivri, you can spend time with family and friends in entertainment areas. Also, you can spend time with your family in cafes, pubs, beaches, etc. This place gives you the opportunity to enjoy a mix of modern city life and breathtaking nature.

Real estate market

There are villas, apartments and luxury houses in Silivri. The real estate market area in Silivri consist of 8 towns and 18 villages. And each of them fulfills different standards. In Silivri you will find properties with high quality standards and in the best location to meet your expectations. Silivri has a wide variety of real estate options, whether you’re looking for your own home or an investment property.

If you wonder about the advantages of investing in Turkey, you can visit the post of ours: https://turesta.com/great-reason-for-investing-in-turkey/

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