Akkas & Associates Law Firm is a globally recognized Turkish citizenship law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish Citizenship by Buying Property lawyers are prepared to handle real estate acquisitions to apply Turkish citizenship with investment. Our investment for Turkish citizenship practice includes; buying, leasing, and selling residential and commercial properties to both domestic and foreign customers in Turkey. Our Turkish real estate lawyers also represent our clients in real property acquisition, we prepare real estate sale contracts or amend the contracts that are prepared by the developers. We also represent our clients throughout Turkish citizenship application process until they get their Turkish passport.
Our Turkish Citizenship Lawyers do perform Turkish citizenship services with investment options. We have extensive experience in immigration law in Turkey and we have obtained more than 400 passports. We have successfully represented clients from Iran, Palestine, Jordan, Lebanon, Morocco, Egypt, Tunis, Libya, Pakistan, Bangladesh, India, Hong Kong, Macao, China, Djibouti, Macedonia, USA and we know how to get required paperwork done in each country.
Our Turkish Citizenship with Bank Deposit Lawyers perform legal services for making an investment and getting a conformity certificate for the investment to apply for Turkish citizenship. Once the investment step is completed, we will apply for residency for the main applicant. After that, we will prepare Turkish citizenship file for the main applicant and his/her spouse and kids.
Generally, it takes 3-4 months to get a citizenship application accepted. We did not have any refusals so far. We got our last application accepted in 85 days. Once your application is accepted, you can apply for Turkish ID card and passport and get your fingerprints at Turkish Embassy in your country, you don’t have to come to Turkey at all.
However, if you like to come and get it done in Istanbul one of our English-speaking Turkish lawyers will help the you to get fingerprints and apply for Turkish ID card and passport. Turkish passport and ID card will be mailed to our office address.
Turkish Citizenship by Buying Property
We do perform legal services for property purchase and management for foreign clients. Our services include preparation, legal help and representation regarding the sale or purchase of a real estate property in Turkey.
An English-speaking attorney will prepare your purchase and sale agreement to buy or sell an off-plan or second-hand house or apartment in Turkey. Our lawyer will advise you of any potential pitfalls, recommend specific changes that would benefit you, discuss or negotiate these concerns and changes with the other party, and accompany you to the Title Deed Office to close the transaction. Nowadays, there is huge demand for Turkish citizenship via the route of the USD 250,000 property investment law. Our attorneys will help from real estate purchase until you get Turkish citizenship.
Our Real Estate Purchase Services Include;
- Discuss Client concerns and issues with Client.
- Draft or review the offer, purchase contract.
- Discuss or negotiate the offer or contract with the Developer or the Developer’s lawyer.
- Prepare up to two sets of revisions or responses to counteroffers, if necessary.
- Review the information provided by the developer (if the property is off-plan).
- Check whether the house is free of charges and/or rented out (if the property is a second-hand home).
- Check whether the Real Estate Tax payments are in good standing.
- Check the local Municipality whether the Developer has all necessary licenses.
- Accompany you to the Title Deed Office in order to sign the purchase and sale deed.
- Change the property title in the Cadastral office.
- Process Client stamp duty tax on your behalf.
Our Turkish Citizenship Application Shall Consist of All Following Matters;
- Prepare residency application documents for Client, his wife and children.
- Prepare citizenship application documents for Client, his wife and children.
- Follow up application until the Turkish passports given.
Below Citizenship Services are Also Included in Our Fees:
- Getting the documents translated and notarized.
- Applying for the Turkish Tax Id Number.
- Assistance for opening a bank account in Turkey.
Property Management Services:
After we completed your property purchase, we can provide below services with an additional fee;
- Registering your property with local Municipality to pay annual Environmental and Garbage Collection Tax.
- Arrange a real estate agent to list your property to lease.
- To sign a lease contract with your tenant.
- To make sure if the tenant is paying rent on time.
- If the tenant is not paying rent on time, we will send him/her a warning letter.
- If it is needed, we can file a law suit to evict the tenant.
- To observe if the tenant is paying monthly dues to the management.
Details on Turkish Citizenship by Buying Property
Obtaining conformity certificate from Ministry of Environment and Urbanization for purchasing a real estate property with a minimum value of $250,000 or equivalent foreign currency or equivalent amount of Turkish Liras [prior to the amendment such amount was $1,000,000] and attached an annotation of no-sale for at least three years at the relevant title registry.
Purchasing a real estate property which has a property ownership or a construction servitude on it, with a preliminary sale contract executed before a notary public and at least $250,000 or amount of foreign currency or Turkish Liras has been paid in advance and such notarized preliminary sale contract should be recorded at the relevant title registry with the undertaking not to transfer or assign the agreement for a period of three years. In order to obtain conformity certificate from Ministry of Environment and Urbanization following steps should be taken into consideration:
In order to apply for Turkish citizenship by way of real estate investment in Turkey, the real estate should be purchased with a minimum value of $1,000,000 between the dates January 12, 2017 – September 18, 2018. If such real estate is purchased after September 19, 2018 and/ or such real estate is purchased with preliminary sale contract issued before notary public after December 7, 2018; the minimum value should be $250,000
A real estate value assessment report that shows the value of such real estate should be drafted by a real estate appraiser with a valid license approved by Capital Market Board in order to determine the value of the subject real estate. The date of issuance of such assessment report should be three months (at most) prior to the application date. Such value assessment report shall be valid until the end of the transaction. In case the applicant completed the purchasing transactions before obtaining a real estate value assessment report, the date of real estate value assessment report should be same with the date of purchase.
Previously, the sale price of the real estate indicated in the official deed shall not be less than amount which is stated in the real estate value assessment report. Now, the sale price of the real estate indicated in the official deed and a real estate value assessment report should be higher than $250,000 whereas the sale price of the real estate indicated in the official deed is not required to be higher than the amount stated in the real estate value assessment report.
Real Estate Purchase in Installments
New regime has brought the option to purchase real estate in installments provided that a real estate property should be purchased after September 19, 2018 and each installment should be made after September 19, 2018. The amounts paid as an installment before September 19, 2018 shall not be taken into consideration. The foreign currency amounts of the installments shall be determined based on the currency exchange rate of the Turkish Central Bank at the date of transactions regarding purchasing a real estate.
In case of the sale of one or more independent sections with the property ownership or construction servitude, the amount that paid in advance should be at least $250,000 or equivalent amount of foreign currency or Turkish Liras and also the transfer of sale price should also be realized after December 7, 2018 through banks as stated below.
The transfer of the sale price should be realized through banks and should be supported by bank approved receipts when the price is deducted from the buyer account and deposited in the seller’s account (the bank approved receipts should be submitted to General Directorate of Land Registry before notification period).
The real estate should not be registered to any other person, including the foreigner’s spouse or children. Also, the real estate should not have been purchased before January 12, 2017 by the foreigner himself, foreigner’s spouse or children.
In case of the real estate being mortgaged or purchased as mortgaged, mortgage cost shall be deducted from the value of the real estate in order to determine the real value of the real estate.
The real estate should not be registered on behalf of the company where the foreigner is the partner or manager.
The real estate shall also have an annotation of no-sale for at least three years at the relevant title registry which shall be recorded during the purchase transaction. If such record is not registered during the purchase transactions, the owner of such real estate shall request to register an annotation of no-sale for at least three years at the relevant title registry.
Turkish Citizenship with Real Estate Consists of Three Stages:
- Fulfilling the one of the investment conditions and obtaining receipt of a certificate of conformity
- Obtaining a short-term residence permit
- Applying for Turkish citizenship by investment.
Required documents for these steps are summarized below:
Opening a bank account within Turkey in order to handle bank transfer for the investment type. Required documents are listed below in order to open a bank account in Turkey:
- Document showing a residence address in foreigner’s home country (such as phone, electricity, gas bill)
- Turkish tax number (we can obtain tax number for you)
Receipt of conformity certification for the investment type:
- A real estate value assessment report which shows the real value of the real estate shall be required for purchasing a real estate investment.
- Particular purpose report from a certified public accountant (CPA) shall be required for making a fixed capital investment of a minimum $500,000.
Reach us for Turkish Citizenship by Buying Property
Akkas & Associates is a solution-oriented law firm that empowers clients to meet the diverse and changing demands of today’s citizenship with investment law. Since 1992, our lawyers have been helping clients’ complex legal challenges and maximize opportunities for success. Our law firm is now one of the leading Turkish Citizenship law firms in Istanbul, Turkey. You may reach us for Turkish Citizenship by Buying Property through our Contact page.