A new decision related to acquiring Turkish citizenship in exchange for foreign currency, signed by President Recep Tayyip Erdoğan, has been published in the Official Gazette. With the new amendment, a condition requiring a structure on the land has been introduced for foreigners to obtain citizenship through the purchase of immovable property.

The new decision regarding the acquisition of Turkish citizenship in exchange for foreign currency was published in the Official Gazette by President Recep Tayyip Erdoğan. A condition has been introduced for the implementation of citizenship acquisition by foreigners through the purchase of immovable property, requiring a structure to be on the land.

CHANGE IN THE PHRASE ‘FOREIGN CURRENCY VALUE OF THE PROPERTY’ According to the news in the Cumhuriyet Newspaper; in the amendment published with the signature of President Recep Tayyip Erdoğan, the phrase ‘foreign currency value of the property’ in the regulation applied for Turkish citizenship was changed to ‘foreign currency value of the property with condominium ownership or condominium servitude established, or land qualified property with a structure on it’.

In the application where foreigners can obtain citizenship by purchasing property worth 400 thousand dollars in Turkey, a change was made to include the condition of having a structure on the land for the purchases made for citizenship acquisition.

WHAT WILL BE THE MINIMUM LIMIT FOR HOUSING SALES TO FOREIGNERS? According to backstage information, the lower limit for housing sales aimed at citizenship for foreigners will be increased from 400 thousand dollars to 600 thousand dollars starting from the beginning of the year.

By a regulation made by the Directorate General of Migration Management on October 16, 2023, the lower limit for residence-purpose housing sales to foreigners had been raised from 75 thousand dollars to 200 thousand dollars.

The lower limit for housing sales for citizenship purposes had been set at 400 thousand dollars. According to the new regulation, the lower limit for housing sales to foreigners will increase to 600 thousand dollars starting from the beginning of the year.

With the last amendment made on June 13, 2022, foreigners purchasing real estate worth 400 thousand dollars gain the right to apply directly for Turkish citizenship. The necessary price for real estate purchases for citizenship, which had been reduced from 1 million dollars to 250 thousand in September 2018 due to reactions, was raised to 400 thousand dollars last year.

With the planned new regulation, the lower limit for housing sales to foreigners will rise from 400 thousand dollars to 600 thousand dollars starting from the beginning of the year.