In a bid to inhibit self-serving developers from “recycling,” Turkey’s official authorities have gone ahead to state that as per the new guidelines, a single property cannot be used again to qualify for citizenship of Turkey. This step was taken following an amendment of Guideline Regarding the Regulation on the Turkish Citizenship Law’s Application.
It has brought alterations to the earlier rules about property transactions between overseas individuals. It is related to obtaining a citizenship status under Turkey Citizenship by Investment program, also known as CIP.
Section G of the new Guideline highlights “Transactions between Foreigners,” which has launched a set of new conditions for the property and its purchasing client in the cases related to citizenship applications.
These properties will be subject to sales or preliminary sales agreements:
- Ensure that the property is not registered in the land registry on behalf of real overseas parties that would also comprise a spouse or children.
- Their property must not be a part of the properties transferred to a Turkish citizen/company after 12.01.2017 by a genuine overseas individual who wants to obtain their spouse or their children’s citizenship.
In case the said property registered in the name of the eligible overseas individual is transferred to a Turkish citizen/company after 12.01.2017. An overseas person of a different nationality will be able to get citizenship of that particular property.
The property which is to be by a foreign person that is subject to the sale or preliminary sales agreement will not be registered:
- On behalf of the company where the overseas person resides, their spouse or children is either partner or manager.
- On behalf of the company, subject to Article 36 of the Land Registry Law (with foreign/international capital) where the same nationality person is a partner.
After a property has been used to obtain citizenship via a title deed transfer or a preliminary sales contract, the same or any of its shares cannot be further used to get any other citizenship.