1. Introduction to Turkish Citizenship by Investment

Turkey's Citizenship by Investment Program offers foreign investors a streamlined pathway to obtain Turkish citizenship through various investment avenues, notably real estate. Established to attract foreign capital and boost economic growth, the program has evolved over the years, providing investors with numerous benefits, including visa-free travel to numerous countries, access to a dynamic economy, and a strategic geographical location bridging Europe and Asia.

2. Legal Framework and Eligibility Criteria

The program operates under the Regulation on the Implementation of the Turkish Citizenship Law. To be eligible, applicants must meet specific criteria, including a clean criminal record, legal adulthood, and fulfillment of the investment requirements stipulated by Turkish law. Recent amendments have refined these criteria to enhance transparency and compliance.

3. Investment Options for Citizenship

Prospective citizens can choose from several investment routes:

Real Estate Investment: Purchasing property worth at least $400,000.

Capital Investment: Investing a minimum of $500,000 in fixed capital.

Job Creation: Establishing a business that employs at least 50 Turkish nationals.

Each option has distinct requirements and benefits, allowing investors to select the path that aligns with their financial goals and interests.

4. Real Estate Investment Requirements

Investing in real estate is a popular choice due to its tangible nature and potential for appreciation. Key requirements include:

Minimum Investment Threshold: The property must be valued at a minimum of $400,000.

Eligible Property Types: Includes residential, commercial, and land with development potential.

Valuation and Appraisal Standards: An official valuation report from a Capital Markets Board (CMB) licensed valuation company is mandatory to confirm the property's worth.

5. Expertise Valuation Considerations

When applying for Turkish citizenship through real estate investment, expertise valuation plays a crucial role in determining the property's eligibility. Investors must ensure their property meets the following requirements:

1. Official Valuation Reports: Properties must be appraised by Capital Markets Board (CMB) licensed valuation firms to certify their market value.
2. Valuation Accuracy: The report must align with market standards, reflecting a fair and reasonable value of the property.
3. Eligible Properties: Only properties with condominium ownership (kat mülkiyeti) or floor easement (kat irtifakı) are typically eligible.
4. Compliance Documentation: The valuation must be submitted alongside the application, ensuring the property's value meets or exceeds the minimum requirement.

These considerations are essential for ensuring a smooth application process and compliance with Turkish regulations.

6. Updates in Expertise Valuation (Effective December 9, 2024)

Recent changes to Turkish citizenship laws have introduced new provisions to address potential gaps in property valuations. Under these updates:

• An additional 25% can now be added to the value stated in official valuation reports.
• If the total value, after applying this adjustment, reaches or exceeds $400,000 as reflected in the Exchange Purchase Certificate (Döviz Alım Belgesi), the property becomes eligible for citizenship.

Example Scenario:

• Exchange Purchase Certificate Value: $400,000
• Valuation Report Value: $320,000

In this case, the additional 25% adjustment is applied to the valuation:

• 320,000 USD × 25% = $80,000
• Adjusted Valuation: $320,000 + $80,000 = $400,000

The adjusted value now meets the citizenship eligibility threshold.

This update provides flexibility for investors whose properties might have been undervalued in appraisals, ensuring their investments remain valid for citizenship applications.

7. Step-by-Step Application Process

1. Selecting a Suitable Investment Property

• Support from Views Real Estate: Leverage the Views Real Estate app or connect directly with a dedicated property consultant from our team. Our experts will help you identify the best properties that meet the Turkish Citizenship by Investment (CBI) requirements, ensuring they align with both your financial goals and the latest regulations.
• Browse a curated portfolio of properties eligible for citizenship and receive personalized recommendations tailored to your needs.

2. Legal Procedures and Documentation

• Dedicated Legal Support from Views: With the assistance of Views' in-house legal advisors, you’ll receive end-to-end guidance for the citizenship process. This eliminates the need to hire external lawyers, streamlining your experience.
• Our legal team ensures the property’s title deed (tapu) is clear of encumbrances and prepares all required documents, including passports, powers of attorney, and financial proof.

3. Application Submission and Approval

• Apply for the Certificate of Conformity after property purchase.
• Obtain a residency permit (required for citizenship).
• Submit your citizenship application to the Directorate General of Population and Citizenship Affairs, with Views' legal advisors handling the process on your behalf.

4. Property Appraisal Process

• Obtain an official property valuation report from a licensed appraisal company.
• Views Real Estate ensures compliance with the updated regulation, which accepts valuations up to 25% lower than the property's actual purchase price, provided the Exchange Purchase Certificate (Döviz Alım Belgesi) exceeds $400,000.

5. Currency Conversion and Payment

• Complete the purchase in Turkish lira, as required by the regulations.
• Views will guide you in managing currency exchanges and ensuring proper documentation, such as bank receipts and certificates of exchange.

6. Tax and Fee Payment

• Pay the property transfer tax, notary fees, and other associated costs.
• Keep records of all payments, with Views' advisors ensuring these are correctly submitted during the application process.

7. Follow-Up and Approval Timeline

• With Views Real Estate’s assistance, monitor the progress of your application.
• Our team will address any additional requests or questions raised by Turkish authorities, providing regular updates.

8. Issuance of Citizenship

• Upon approval, collect your Turkish identity cards and passports for all eligible family members.
• Celebrate becoming a Turkish citizen with the seamless support of Views Real Estate!