Recent Regulation Change in Turkish Citizenship by Investment: 2023 Update
Investors seeking Turkish citizenship by investment must be aware of a crucial 2023 update concerning eligible property types. This article delves into the specific changes affecting land property investments.
The Regulation Change Explained
What’s New? The latest modification in Turkish law now specifies that not all land purchases will qualify for citizenship. To be eligible, the land must have an existing structure or be associated with a condominium or construction servitude.
Understanding the Impact of the Change
The Past Criteria Previously, investors could purchase any type of land and qualify for the citizenship program. This provided a broad range of investment options across the Turkish real estate market.
The Present Criteria Under the new regulations, only the following types of land will qualify:
- Land with an existing structure.
- Land where a condominium project is planned or underway.
- Land with an established construction servitude, indicating approved development plans.
Example to Illustrate the Change
Before the Amendment: An investor could purchase a piece of agricultural land with no immediate plans for development and apply for citizenship.
After the Amendment: Now, the same investor must ensure that the agricultural land has either an existing structure or a confirmed plan for a condominium or construction servitude development to qualify for citizenship.
The 2023 regulation change tightens the criteria for land properties eligible under the Turkish Citizenship by Investment program. Investors must now select properties with development potential or existing structures to meet the new requirements. This update signifies Turkey’s strategic approach to channel investment into properties that contribute more directly to the country’s infrastructure and economic growth.
তুর্কি নাগরিকত্ব: সাশ্রয়ী মূল্যের ফি এবং 11টি সহজ ধাপে ব্যাপক নির্দেশিকা