Citizenship by purchasing a $400,000 worth of property

Citizenship by purchasing a $400,000 worth of property

In the real estate investment case, the Turkish law stipulates that the real estate must fulfill certain conditions in order for the investor to obtain Turkish citizenship by investment in that real estate or property, these conditions are:

1. The real estate(s) value must be $400,000 or more, or the equivalent of it in Turkish currency based on the exchange rate of the Turkish Central Bank.
2. The real estate must be officially registered in the Land Registry Department whether it is a ready-to-move-in real estate or an under-construction one.
3. The real estate must be purchased from a Turkish national or a Turkish construction company.
4. The real estate value must be paid through a legal bank transfer.
5. Foreigners are required to obtain a real estate appraisal report from a real estate appraisal company approved by the Turkish government.
6. A pledge not to sell the property for three years.