Many foreigners and real estate investors seek to obtain Turkish citizenship in different and varied ways, based on its importance and the privileges that can be obtained through it.
Did you know that this citizenship can be obtained by purchasing under construction real estate?
In this article, we will explain to you some details about that nationality, as well as talking about the importance of buying an under construction property.
The importance of buying under construction properties in Turkey
If you are thinking of investing in real estate, you may be wondering if now is the right time to buy. Among the options and possibilities that you will find in front of you, the most important of which are the properties that are under construction.
Here are some of the most important features of this choice:
-You can get a better price: developers often offer discounts of up to 15% to early buyers. If you’re not ready to move in right away, you can wait until construction is finished before you start paying for the property.
-You can get a mortgage: Many banks will give you a mortgage for a property that is under construction, so you don’t have to pay the full price up front.
-You are investing in the future: By purchasing a property that is under construction, you are investing in the future value of the property as the value of your investment will rise as construction progresses around it.
-You are getting a new home: If you are looking for a new home, then buying an under construction property is a great option.
Is it possible to obtain Turkish citizenship in exchange for an under construction property?
Yes, it is possible to obtain Turkish citizenship by investing in a property that is under construction and you will need to meet the following requirements:
-The property must be worth at least 400,000$ USD.
-You must have held the property for at least 3 years.
-You must have paid all required property taxes.
Advantages of buying real estate in Turkey
There are many reasons to invest in real estate in Turkey, the most important of which is that the country’s economy is strong and growing, the real estate market is booming and prices are still relatively reasonable, and there is a wide range of properties available to suit all budgets, which means you will not have difficulty finding a suitable option.
The Turkish government offers a number of incentives to foreign investors, including citizenship for those who buy real estate worth over 400,000$. Add to your information that the process of buying real estate in Turkey is relatively simple and straightforward, and there are no restrictions on foreign ownership.
Turkey is a beautiful country with rich culture and history, and it is an increasingly popular tourist destination and this makes it an ideal place to invest in second homes or buy rental properties as there are many opportunities for those looking to make a good return on their investment.
Advantages of obtaining Turkish citizenship:
If you decide to obtain Turkish citizenship, there are a wide range of benefits that you will get in return, which are:
-You will have the right to live and work in Turkey without a visa or any other permit.
-You can apply for a Turkish passport, which will allow you to travel without a visa to many countries.
-You will have the right to own property in Turkey.
-You will be eligible for a free education in Turkey.
-You will be eligible for free healthcare in Turkey.
-You will be able to apply for Turkish passports for your family members.
-You will be eligible for social security benefits in Turkey.
-You will have the right to vote in the Turkish elections.
-Growing Economy: The Turkish economy is one of the fastest growing in the world. This provides many opportunities for companies and investors alike.
-Turkish culture is a mixture of eastern and western influences. This makes it an interesting place to live and visit.
-Stable Political Environment: Turkey has been a stable democratic state for more than 60 years, and has a thriving economy. This makes it an attractive destination for both businesses and individuals.
Turkish citizenship through real estate investment:
Turkey recently introduced the Citizenship by Investment Program which provides foreign investors with the opportunity to obtain Turkish citizenship in return for investing at least 400,000$ USD in Turkish real estate. The program is open to all nationalities, and family members of the investor (spouse and children under 18) can apply for citizenship.
Conditions for obtaining Turkish citizenship
-You must have a Turkish residence permit for at least 5 years.
-You must be able to speak Turkish fluently.
-You must not have a criminal record in Turkey or in your home country.
-You must have a job and a stable income, or sufficient financial resources to support yourself in Turkey.
-You must own a property in Turkey, or have proof of a long-term lease.
Documents required to obtain citizenship
When you want to obtain Turkish citizenship, there are a lot of papers and documents that must be prepared, which are as follows:
-A copy of the Turkish passport or national identity card.
-A copy of the birth certificate.
-A copy of the marriage certificate (if any).
-Proof of sufficient financial capabilities.
-Proof of health insurance.
-Criminal record checked from your country of origin and any other countries you have lived in for more than 6 months in the past five years.
The Turkish government has not saved any time to provide all the privileges and facilities to everyone who wants to obtain Turkish citizenship, and this is out of its desire to attract more investors and those interested in the Turkish real estate sector, because this has a clear reflection on its economy and development in general.
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