Turkey – Property Acquisition and Citizenship

For Foreign Corporate Entities:

Only trading companies with legal personalities, as per their country’s laws, can acquire property in Turkey. Acquisition by such foreign entities is restricted and might only be allowed under specific international agreements or special laws.

For Companies with Foreign Capital Operating in Turkey:

Companies in Turkey, where foreign investors either own over fifty percent of shares or can dictate the board of directors, can purchase property for their operations. However, special permissions are needed if the property lies in military or security zones.

Inheritance Rights:

Turkey ensures the inheritance rights of foreigners. If a foreign property owner passes away, their property is transferred to the heirs. However, the inheritor must be eligible to hold the property; otherwise, they must sell it promptly.

Obtaining Turkish Citizenship via Real Estate Investment:

Foreign nationals can attain Turkish citizenship by investing at least USD 400,000 in real estate. They must declare their intention for citizenship at the time of purchase and commit to holding the property for a minimum of three years.

Essential Documentation for Land Registry:

• Property’s land registry details
• Valid photo ID or passport (with notarized translations for non-Latin alphabets)
• Relevant documentation for representation
• Property’s current market value confirmation
• Mandatory earthquake insurance for buildings
• Seller’s photo and two recent purchaser photos (6×4 cm)
• If needed, a certified interpreter