Turkish Legal System
A single legal system is valid within the borders of the Republic of Turkey and the same rules of law apply to all citizens in the country without any discrimination. As well as the written rules of law, there are unwritten rules like customs and traditions that serve as a secondary-complementary source of law in the Turkish legal system.
Best House Turkey Legal Services
Best House Turkey, with a team of legal experts on staff, is ready to assist you with any legal issues you may have, including personal, commercial, company, insurance, technology, health, and intellectual property laws and regulations.
Map of Turkey
Being the youngest country in Europe, Turkey is home to several different civilizations with its cultural assets and geographical beauties. Besides, it is the second populous country in Europe with more than 80 million people. The most popular regions in Turkey, which is separated into seven geographical regions, are the Marmara, Aegean, and Mediterranean.
Location of Turkey in the World
Having lands both on the European and Asian continents, Turkey serves as a significant logistic hub in the region. Therefore, it has always been a country that continuously creates value with the commercial agreements and political partnerships it forms with the most advanced European countries.
Life in Turkey
Turkey is a state of law governed by the Republican administration. The native language of the country is Turkish. Muslims make more than 90% of the population. In Turkey, people from other religions can also experience their faith and carry out their religious service freely. Turkish people have a modern family and communal structure where everybody respects each other’s views.
Economy in Turkey
Being at the top of the list of developing countries, Turkey is an exemplary country with its young population and a constantly growing economy. Turkey is one of the leading countries in terms of textile, tourism, health, construction and building, automotive, and health tourism revenues.
How to Become a Turkish Citizen?
Laws and regulations have made it easier for foreigners to become a Turkish citizen in recent years and due to the appealing advantages, Turkish citizenship has come to the forefront with the most preferred citizenship options. With the regulation, the most convenient way for becoming a Turkish citizen is by making an investment. The sub-limit of budget needed for becoming a Turkish citizen is $250,000. Anyone who undertakes not to sell this $250,000 worth investment for 3 years, can become a Turkish citizen.
Turkish Passport and $250,000
The advantages of becoming a Turkish citizen
Welcoming more than 50 million visitors from all over the world every year, Turkey has become a habitable country with its geographical beauties and economic opportunities. Russian, British, and German people are among the primary foreigners to discover the beauties of Turkey and start investing in here, and they are followed by people from Iran, Iraq, Azerbaijan, and China due to the recent regulations.
One of the main reasons for foreigners to opt for becoming a Turkish citizen is the advantages offered by the constructive attitude leader world countries have shown toward Turkey and its citizens. To give an example, certain political sanctions imposed by a country to another may limit the freedom of the citizens of such country.
Because metropolitan life is easy and much cheaper compared to its counterparts, several European citizens primarily prefer Turkey. In addition, there are many vacation areas in Turkey and the country offers a comfortable life on extensive lands with features addressing everybody.
Advantages of making real estate investments in Turkey
Turkey is a developing country that maintains a consistent growth rate every year. Being the leading sector of the economy, the construction and building sector has been at its peak for the last two decades, and they are constantly growing higher. The materials used in constructions are in European standards and distinctive as the products of an excellent experience in engineering. Turkey is the country that’s most preferred in the construction sector in the world. Construction companies available in Turkey have completed projects not only in Turkey but also in other countries particularly in Germany, Russia, Kazakhstan, Turkmenistan, Morocco, France, Ukraine, Iraq, and Azerbaijan, and they are still carrying out constructions in these countries.
The real estate sector in Turkey has grown steadily in the last 50 years and has continuously increased its value by means of countrywide investments. The investments you make here will bring you the anticipated revenue sooner than any other investment instrument.
Real estates are still cheap in Turkey. This great interest in Turkey is not only restricted to those willing to become a citizen. There is a growing demand from European countries, as well.
Turkish Citizenship Through Investment
There are some different ways of investment for those willing to become a Turkish citizen. One can buy a real estate, make a commercial capital investment, acquire a share in a real estate investment fund or a venture capital investment fund and undertake to maintain these for a minimum period of 3 years.
Buying a real estate in Turkey with a minimum value of $250,000 and undertaking not to sell it for at least 3 years, is the most preferred one among these options.
Requirements for becoming a Turkish citizen by means of investment
Details of the requirement for acquiring citizenship by means of investment are provided in the Presidential Decree Numbered 106 issued by the President according to Article 46 of the Turkish Citizenship Law and published in the Official Gazette dated 19/09/2018 and finally, in the amendments made with the Presidential Decree Numbered 418 published in the Official Gazette dated 07/12/2018. Foreigners may become a Turkish citizen if they fulfill one of the conditions stated below:
One may acquire citizenship by purchasing a real estate at a value of or above 250 thousand USD Dollars and attaching an annotation at the land register that the real estate will not be sold for 3 years. Sub-limit is 250 thousand USD Dollars. While the amount was 1 million USD Dollars in the previous regulation, it was reduced to 250 thousand USD Dollars with the new regulation, which is to the advantage of anyone willing to acquire citizenship by means of purchasing real estate.
One may make a capital investment of or above 500 thousand USD Dollars. Sub-limit is 500 thousand USD Dollars.
Or a foreigner may enter a real estate preliminary sales contract for a real estate with a condominium or a construction servitude established at a value of a minimum of 250 USD Dollars, in order to be able to benefit from the same opportunity. The building or the contract shall not be transferred for a period of 3 years and this issue will be added to the preliminary sales contract to be executed in the notary office. While the amount was 1 million USD Dollars in the previous regulation, it was reduced to 250,000 USD Dollars with the new regulation.
A person who establishes an employment area for at least 50 people, will gain the right to citizenship by means of investment. The previous regulation required an employment area for 100 people.
One who deposits 500 thousand USD Dollars or an equivalent amount of other foreign currency or TRY, in Turkish banks with the undertaking not to draw such amount for a minimum period of 3 years, will benefit from the same.
One may also acquire Turkish citizenship by means of investment by purchasing a minimum of 500 USD Dollars of public borrowing tools with the undertaking to maintain such for a minimum period of 3 years.
One who buys a “real estate investment fund share” or a “venture capital investment fund share” with a minimum value of 500 thousand USD Dollars with the undertaking to maintain such for a period of minimum 3 years, will also have the right to acquire citizenship. The amount was 1,5 million USD Dollars in the previous regulation.
The amounts specified in the Presidential Decree may be in Turkish Liras equivalent of the USD exchange rate or in equivalent amount of foreign currency.
Documents Required for Turkish Citizenship by Means of Investment
- Application Form
- 2 biometric photographs
- Passport and its notarized
- Turkish translation
- Certificate of birth
- Certificate of marital status
- Title deed or proof of investment
- Real estate value assessment report
- Certificate of detailed identity register copy
- Fee payment receipt
Other Documents Required for Acquiring Citizenship by Means of Purchasing a Real Estate
- Title deed of the real estate or village/quarter, block, plot, building, independent section details,
- If required, an identity card or a passport along with a translated copy,
- Real Estate Market Value Document’ received from relevant Municipality,
- Mandatory earthquake insurance for buildings like dwellings or workplaces,
- Two photographs of the Buyer and one photograph of the Seller taken in the last 6 months,
- Presence of a certified translator if either party does not know Turkish,
- Original or notarized copy of the letter of attorney, along with its translated copy, if the transaction is executed with a letter of attorney drawn up abroad,
- For foreigners who shall have a residence permit to be able to buy real estate, residence permits issued by the relevant police department.
- For applications by means of purchasing real estate, a short-term residence permit is required following the registration of the real estate at the land registry.
- Documents required for obtaining a short-term residence permit are as follows:
- Residence permit application form,
- Original copy of the passport and photocopy of the relevant pages,
- At least 4 biometric photographs taken in the last 6 months,
- Health insurance policy,
- Payment receipt of the application fee and the necessary valuable papers,
- Official, e-signed/signed, and sealed/we-stamped title deed proving that the real estate belongs to the relevant person
After Sales Services
If you have purchased a property from an incomplete project, Best House Turkey team will keep track of and inform you about all the processes until such property has been delivered to you. We will instantly provide you with the latest photos and videos upon demand.
Best House Turkey will find the best architects for the architectural design of the property you have purchased and will keep you updated on the present condition of your house by tracking the entire process while your house is being designed according to your preferences.
Best House Turkey team will find a full-time or a part-time working assistant to help you with your house chores like security, gardening, cooking, housekeeping, or babysitting as you need and will provide you with their contact details.
If you want to lease your property, Best House Turkey team will find the best tenant for you, keep track of contract, agreement, and payment collection processes, and execute all communications with your tenant.
Best House Turkey team will put your property on sale and find the best buyer immediately and in the most profitable way possible. It also provides you with the latest opportunities for your new investments.