Applicants should purchase a single property or multiple properties in Turkey which is worth a minimum of $250,000.
Applicants should make a commitment that they will not sell the property for at least 3 years, as an annotation on the Title Deed and/or on the Notarized Sales Contract.
An official appraisal report by an appraiser approved by the Banking Supervision Board is required for the properties. The total value of the property/properties must be at least $250,000 in the appraisal report.
The payment should be made via bank transfer from the buyer’s account to the seller’s account.
The officially declared value of the property must be minimum of $250.000 at the time of the Notarized Sales Contract and/or of its title deed transfer at the Land Registry Office.
The properties should not be previously registered under foreign real person’s name or the applicant’s relatives who are Turkish citizens.
In case the property is purchased with a mortgage loan or is subject to mortgage by any means, the mortgage value will be deducted from the value stated in the appraisal report and the remaining amount should be more than $250,000.
The application will be sent to the Ministry of Internal Affairs, General Directorate of Population and Citizenship Affairs, Directorate of Foreigners Department, through the Ministry of Environments and Urbanization, Land Registry Office.