The Cost of Being a Turkish Citizen Increased; $400,000!
A new regulation came for Turkish citizenship, which was purchased from Turkey in exchange for real estate worth
250 thousand dollars. According to the statement of the Ministry of Interior, the cost of being a Turkish citizen has increased to 400 thousand dollars. Conditions are changing when applying for Turkish citizenship. The value of the real estate to be purchased in the citizenship application will be increased. According to the decision taken at the Presidential Cabinet meeting held yesterday; The application requirement, which is 250 thousand dollars, will be increased to 400 thousand dollars. (400.000 USD)
IT WILL BE EFFECTED AFTER PUBLISHED IN THE OFFICIAL GAZETTE
The regulation will enter into force after its publication in the Official Gazette. With a decision taken in September 2018, the cost of buying a house for citizenship was reduced from 1 million dollars to 250 thousand dollars. Now the price has gone up.
Conditions are changing when applying for Turkish citizenship. The value of the real estate to be purchased in the citizenship application will be increased.
DISCUSSED AT THE CABINET MEETING
Yesterday, the Presidential Cabinet chaired by President Recep Tayyip Erdogan discussed raising the value of the real estate that must be purchased for exceptional Turkish citizenship.
IT WILL BE INCREASED TO 400 THOUSAND DOLLARS
At the Cabinet Meeting, it was decided to increase the value of the real estate to be purchased for the application for exceptional Turkish citizenship from 250 thousand dollars to 400 thousand dollars. Within the scope of this decision, it is envisaged to amend the “b” clause of the second paragraph of the 20th article of the Regulation on the Implementation of the Turkish Citizenship Law, which contains exceptional provisions regarding the acquisition of Turkish citizenship.
3 YEARS NO SELLING CONDITION
With the entry into force of this amendment by being published in the Official Gazette in the following days, those who purchased the immovable property worth at least 400 thousand USD or equivalent in foreign currency, provided that an annotation is put in the title deed records that it will not be sold for 3 years, and a condominium or construction servitude has been established, at least 400 thousand USD or equivalent in foreign currency. Those whose amount is deposited in cash and determined by the Ministry of Environment, Urbanization and Climate Change, to which the sale of the immovable has been promised, with a contract drawn up in the notary, provided that the undertaking not to be transferred or canceled for a period of 3 years is annotated in the land registry, will be able to acquire Turkish citizenship by the decision of the President.
Now its on Official Gazette🙂