A new amendment will be effective from January 1st, 2023.
The Turkish government has made changes on the law of obtaining Turkish citizenship by investment. According to the new circular;
1• It is not possible to apply for citizenship with joint ownership.
A) If the applicant shares the property rights with another person or legal entity in the title deed,
he cannot obtain Turkish citizenship with the property.
B) The title deed must be in the name of one individual. If the property rights of a single property are transferred from several owners to a single foreign individual,
the new owner will be able to apply for Turkish citizenship since they have full property rights.
2• There is no restriction regarding the number of real estate or the property type for the purchase.
A) Multiple properties including residences, businesses, lands or farms with a total value of at least $400,000 USD will be valid for the Turkish Citizenship Program.
B) The new circular clearly states that timeshare properties cannot be subject to Turkish citizenship acquisition by investment.
◆ Benefit from P&P Turkey’s many years of experience and let our team advise you on the above information.