About Us     Areas of Practice     Our Team     Publications     Career     Contact
Turkish Citizenship by Investment New Regulations
Turkish Citizenship by Investment New Regulations

The regulation on the implementation of the Turkish citizenship law was published to enter into force on 1 February 2023. With this Regulation, a number of prohibitions, restrictions and conditions have been determined with the provisions of the relevant legislation on the acquisition of real estate by foreigners from our country. The changes that are important and need to be considered are listed below:
1- In applications made based on the preliminary contract for sale, the total amount in the Regulation must be provided with a single contract. Within this scope of The Regulation, It is possible to subject more than one real estate under a single preliminary contract for sale. Accordingly, applications made based on more than one preliminary contract for sale will not be considered.After the effective date of this guideline, it is not possible to complete the remaining amount with a preliminary sales contract when the immovables do not meet the amount required for for the acquisition of Turkish Citizenship.
2- There is also a change in the annotation authority in the new regulation.In the registration process of indicating the commitment that the takeover and cancellation will not be made for a period of three years; If there is a statement in the contract that "this contract is made for the purpose of obtaining citizenship", the unilateral application of the promise creditor is sufficient, while in the contracts where this statement is not included, the parties must apply together.
3- Before the regulation, it was possible to subject an immovable property to the citizenship application with the acquisition of more than one person.
As of the effective date, it is not possible to apply for citizenship with the acquisition of the immovable as shares.
For example, in the event of an immovable is acquired by more than one foreign person to form joint ownership, this immovable cannot be subject to citizenship. However, In the event of a real estate registered in the name of more than one person is acquired by a foreign person, this real estate may be subject to citizenship.

CONTACT US

Аddress
Cumhuriyet, 1995. Sk., 34515, Akros İstanbul Kat:30 No:479 Beylikdüzü Osb / İstanbul

Тelephone
+90 212 996 71 61
+90 535 406 08 22

E Mail
info@atsizlaw.com


ATSIZ Law & Consultancy © 2024


As Atsız Law Firm, we have a long and successful track record of advising institutional clients globally. Over the years, we have advised Clients internationally, including US, EU, MENA and RUSSIA based Multinationals, Fortune 500 Corporations, International banks as well as High Net Worth Individuals. You will therefore benefit of working with one of the most reputable corporate law firms in Turkey.

All international lawyers of our team are a member of the Istanbul Bar Association and combine dynamism with experience in legal practice. We offer an international approach when providing comprehensive legal services to our international clients globally.

AREAS OF PRACTICE

  • Corporate & Commercial Law
  • Real Estate
  • Residence & Work Permit
  • Litigation & Dispute Resolution
  • Immigration Law
  • IP and BT
  • Turkish Citizenship by Investment New Regulations
    Turkish Citizenship by Investment New Regulations

    The regulation on the implementation of the Turkish citizenship law was published to enter into force on 1 February 2023. With this Regulation, a number of prohibitions, restrictions and conditions have been determined with the provisions of the relevant legislation on the acquisition of real estate by foreigners from our country. The changes that are important and need to be considered are listed below:
    1- In applications made based on the preliminary contract for sale, the total amount in the Regulation must be provided with a single contract. Within this scope of The Regulation, It is possible to subject more than one real estate under a single preliminary contract for sale. Accordingly, applications made based on more than one preliminary contract for sale will not be considered.After the effective date of this guideline, it is not possible to complete the remaining amount with a preliminary sales contract when the immovables do not meet the amount required for for the acquisition of Turkish Citizenship.
    2- There is also a change in the annotation authority in the new regulation.In the registration process of indicating the commitment that the takeover and cancellation will not be made for a period of three years; If there is a statement in the contract that "this contract is made for the purpose of obtaining citizenship", the unilateral application of the promise creditor is sufficient, while in the contracts where this statement is not included, the parties must apply together.
    3- Before the regulation, it was possible to subject an immovable property to the citizenship application with the acquisition of more than one person.
    As of the effective date, it is not possible to apply for citizenship with the acquisition of the immovable as shares.
    For example, in the event of an immovable is acquired by more than one foreign person to form joint ownership, this immovable cannot be subject to citizenship. However, In the event of a real estate registered in the name of more than one person is acquired by a foreign person, this real estate may be subject to citizenship.

    CONTACT US

    Аddress
    Cumhuriyet, 1995. Sk., 34515, Akros İstanbul Kat:30 No:479 Beylikdüzü Osb / İstanbul

    Тelephone
    +90 212 996 71 61
    +90 535 406 08 22

    E Mail
    info@atsizlaw.com


    As Atsız Law Firm, we have a long and successful track record of advising institutional clients globally. Over the years, we have advised Clients internationally, including US, EU, MENA and RUSSIA based Multinationals, Fortune 500 Corporations, International banks as well as High Net Worth Individuals. You will therefore benefit of working with one of the most reputable corporate law firms in Turkey.

    All international lawyers of our team are a member of the Istanbul Bar Association and combine dynamism with experience in legal practice. We offer an international approach when providing comprehensive legal services to our international clients globally.

    AREAS OF PRACTICE

  • Corporate & Commercial Law
  • Real Estate
  • Residence & Work Permit
  • Litigation & Dispute Resolution
  • Immigration Law
  • IP and BT
  • ATSIZ Law & Consultancy © 2024