Subject: Increasing the Real Estate’s Price to USD 400,000 for Acquiring Turkish Citizenship through the Purchase of Real Estate
Foreigners who meet one of the investment conditions specified in Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law ("Regulation") can acquire Turkish Citizenship exceptionally within the scope of subparagraph b of the first sub-clause of Article 12 of the Turkish Citizenship Law no. 5901.
One of the investment types listed in the relevant article of the Regulation is the purchase of real estate worth at least USD 250,000 or the commitment of the sale of a real estate -with a condominium or construction servitude established- by promising the sale of real estate with a cash deposit of at least USD 250,000 and a contract issued before a notary public.
At the Cabinet Meeting held on 13.04.2022, it was decided to increase from USD 250,000 to USD 400,000 the real estate price sought in applications for the acquisition of Turkish citizenship in an exceptional fashion by purchasing a real estate or by acting preliminary contract for the real estate sale.
It is crucial to state that the decision has not been published in the Official Gazette yet and has not entered into force. Hence, the terms and conditions of the regulation are not yet certain, and it does not affect foreigners who have already applied to acquire Turkish citizenship through the purchase of the real estate.