Regulation on the amendments to the regulation on the Implementation of the Turkish citizenship law
Article 20, sub-article 2(b) of the Regulation on the Implementation of the Turkish Citizenship Law, which entered into force on 11 February 2010 with the Council of Ministers Decision No. 2010/139, was amended by the Presidential Decree No. 418 which was published in the Official Gazette on the date 6 December 2018.
Pursuant to the amendments introduced by the presidential decree, acquiring citizenship by way of purchasing property has become substantially easier. The decree stipulates that the establishment of purchase agreements for property can be notarised agreements and annotated at the Title Deed Registry. Accordingly, Turkish citizenship can be obtained when the applicant purchases a freehold/full title deed or a transitional title deed with a minimum value of USD 250.000 (American Dollars) or equivalent as Turkish Lira or other foreign currency on condition that the share would be held by the purchaser for 3 years at least and cannot be transferred or canceled.
By these amendments, the Turkish construction companies are now able to sell off-plan projects for foreigners who are seeking to obtain Turkish citizenship. We advise foreign investors to seek legal support when they are purchasing off-plan projects citizenship to eliminate potential issues that may arise.
Prepared by: Ali Güden and Doğa Girinti