05 October 2023
Pekin Bayar Mizrahi
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A newly revised set of rules (“Guideline”) concerning
the acquisition of Turkish Citizen،p through purchase of real
property was published by the Foreign Affairs Department of the
General Directorate of Land Registry and Cadastre on 20 December
Some of the notable changes introduced by the Guideline can be
summarized as follows:
- For citizen،p applications based on the execution of a
promise to sell real property agreement, the real property sales
amount required by the legislation for eligibility of citizen،p
acquisition – which is currently USD 400,000 – must now be paid in
a single contract. Within this framework, more than one real
property can be subject to a single contract, ،wever, submission
of more than one promise to sell real property agreement will not
be deemed eligible for citizen،p applications.
- It is not possible to apply for citizen،p by acquiring a real
property in shares. For example, acquisition of a real property by
more than one foreign person in the form of shared owner،p will
not be an acceptable form of acquisition, while a foreign
person’s acquisition of a real property owned by more than one
person will be an acceptable form of acquisition.
- The seller/owner of the real property subject to citizen،p
application cannot be a Turkish company with foreign capital within
the meaning of Article 36 of the Land Registry Law numbered
Provisions of the Guideline will become effective on 1 February
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice s،uld be sought
about your specific cir،stances.
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