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Turkey has changed the conditions for obtaining citizenship

14.05.2022 144 просмотров

In Turkey has increased the amount of real estate to $400 thousand for obtaining citizenship.

Foreigners will be able to obtain Turkish citizenship in exclusively in case they purchase real estate for at least $400,000. The corresponding order of President Tayyip Erdogan was published on Friday in government bulletin "Official Gazette".

According to the document, the decision will come into one month later.

Previously, in order to obtain Turkish citizenship, it was necessary to buy real estate worth 250 thousand dollars. This law has been in force since February 2010.

Acquisition of local citizenship, as follows from the order, is also possible with the participation of a foreigner in the program of the private pension system of Turkey for a period of at least three years and  in at least 500 thousand. dollars or the equivalent in other currencies. The decision to acquire citizenship under such conditions comes into force from the moment of publication of the order, the document says.

The decision to increase the limit on purchased real estate was made by the Turkish government in mid-April. Then it was also noted that foreigners applying for obtaining Turkish citizenship in in exchange for acquired real estate, will be required for at least three years to sell it and not transfer to management.

Demand for real estate in Turkey among foreigners increased last year due to volatility in financial markets. According to the  Knight Frank consulting company, Istanbul, Ankara and Izmir were included in the list of cities leading in the world housing price index in in in in in in 2021.

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