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Turkey Amend the terms of granting citizenship to include the purchase of unfinished properties

by Proact
Dec , 8
Turkey Amend the terms of granting citizenship to include the purchase of unfinished properties

The Turkish State Gazette published on Friday the text of the amendment of the conditions for the granting of citizenship for the purchase of the property, which also includes the purchase of properties under construction, after it was limited to completed properties only.

 

Under the new law, a foreigner can acquire Turkish nationality if he buys real estate in an unfinished housing project of at least US $ 250,000 or the equivalent in Turkish or hard currency by submitting the purchase contract to a notary.

 

The foreigner is required not to sell the property he buys within 3 years and to pledge to the property registrar not to transfer his property to other persons during the said period.

 

 

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