Turkey is one of the countries that promote foreign investment, especially in the real estate sector, and attract attention and attract investors, including granting Turkish Citizenship by Buying Property and real estate groups worth 250 thousand dollars. We offer attractive facilities and incentives. For political and historical reasons, there are many countries where citizens are prohibit from owning real estate on Turkish soil. This will be explain in this article.
Principles of real estate ownership and reciprocity in Turkey
The Turkish government had previously prohibit the Turkish government from owning real estate investment in Turkey. While the Turks prevent them from owning their land. But since 2012 Turkey has abolish the principle of reciprocity. And decide to allow all foreigners to own property. However, ownership of real estate on land in Turkey by five foreigners has been ban for a variety of reasons. Even after making a clear decision to abolish the principle of reciprocity with regard to the ownership of Turkish real estate, Turkish Citizenship by Buying Property will explain the names of these people and the possible reasons that may prevent Turkey from owning real estate on the land.
Who are the people prohibit from Turkish Citizenship by Buying Property?
According to Turkish law, all foreigners residing in Turkey or abroad own property in Turkey. Except for the five nationalities of Armenia, Cyprus, North Korea and Cuba. Exceptions: holders of Turkish Citizenship by Buying Property in the previous countries, second-class citizens who are authorize to own real estate in Turkey, and citizens of Northern Cyprus.
Why are they Prevent from Turkish Citizenship by Buying Property?
In 1939, following a dispute between the Turkish government and the French government. Iskandar call a referendum to remove French headquarters and annex the hate nations. The mandatory government met with the Turkish Republic to seize Turkey’s assets and prevent Turkish Citizenship by Buying Property.
Therefore, in 1939, the Turkish government at that time confiscate the assets. And funds own by Turkey and annex them to the state-own property. This is what the Turkish government has done as well. Banning citizens from every country from owning real estate. in other countries.
In 2012, the Turkish government repeal the Law of Mutualism. But Turkish and four other nationalities were not include in the decision. As the confiscate Turkish assets were not return to their owners.
Is there a way to allow Turkish people to own real estate investment in Turkey?
Of course, there are several ways in which foreign citizens can get Turkish Citizenship by Buying Property in Turkey, but real estate owners cannot get the full rights that Turkish real estate owners usually enjoy in these ways, you cannot. Among these methods:
Establish a company in Turkey
By establishing a company in Turkey. You can buy real estate in the name of the company you establish and you have the right to use. Invest and sell it on behalf of the company before the Turkish government. However, there are exceptions. In this case, the buyer does not acquire real estate residency in Turkey and applies for Turkish Citizenship by Buying Property, even if the price of the property purchase in the name of his company exceeds the maximum limit of $250,000.
If he holds Turkish citizenship
People who have obtain Turkish Citizenship by Buying Property, especially President Recep Tayyip Erdogan, have decide that thousands of Turkish have obtain Turkish citizenship, and plans to grant special Turkish citizenship to Turkish are still in place, so you can buy Turkish real estate directly and systematically without any restrictions. execution.
If he has dual citizenship
A Turkish citizen who has a nationality who is not authorize to own property in Turkey. They can buying property in Turkey and obtain all property rights in Turkey.
A new law on Turkish Citizenship by Buying Property
The head of the Turkish Foreign Affairs Authority for Land Registry and Land Survey issue a new law on 16.11.2021. That includes amendments to five paragraphs relate to the ownership of real estate. By multinational persons in Turkey, including Turkish citizens. The most important of these reforms are:
Turkish Citizenship by Buying Property are allow to own real estate and are consider Turkish citizens like any other foreigner with Turkish citizenship regardless of nationality. In other words, foreigners are consider to have Turkish citizenship on the basis of Turkish citizenship, regardless of their country of origin, including citizenship. Therefore, anyone with Turkish Citizenship by investment in Turkey as a Turkish citizen, even if the original nationality is among the nationalities that are prohibit from owning in Turkey.
The publication imposes certain restrictions on their nationality
Which the law previously treat under nationality in relation to ownership in Turkey or prohibit ownership in Turkey. This circulation completely resolves the dispute over the ownership of Turkish Citizenship by Buying Property, and they have the full right to own and dispose of their property without the restrictions and requirements of Turkish citizenship.
Real estate investment in Turkey other than, such as Germans and Swedes, are consider. Turkish citizens and are not entitle to own real estate investment in Turkey, regardless of other nationalities. In this case, it is consider on the basis of originality. Country of Citizenship.
They were born in Turkish Citizenship by investment in real estate, or in a country where owning other real estate is prohibit. And those who do not hold citizenship prove that. They do not hold Turkish citizenship to own the property without restrictions they have to do so.
Nationalities Who Own Real Estate in Turkey
Before the issuance of the last amendment they are treat according to their second citizenship. And they do not have to sell the property register with the second citizenship. And without that they will not be able to buy new properties again.
For the Turkish Citizenship by Buying Property who are not Turkish citizens, their case will be review by the Turkish Taboo Office and a suitable solution will be found in favor of the Republic of Real estate investment in Turkey.
