Turkey Citizenship by Investment: GEDAŞ Is No Longer the Only Valuation Option

The property valuation process used in Turkish citizenship by investment applications is changing. According to the update reported by Memurlar.net, applicants will no longer be limited in practice to GEDAŞ for the valuation report used in the file. Eligible SPK-authorised real estate valuation companies may also take part in the process.

TLDR: The previous workflow was effectively GEDAŞ-centred. Under the reported update, applicants may be able to choose an eligible valuation company, or accept an automatic assignment. The change concerns the valuation workflow; it does not remove the other Turkish citizenship requirements.

How did the previous process work?

Foreign investors applying for Turkish citizenship through a property purchase must document the value of the property and the compliance of the transaction. The valuation report was one of the central documents supporting the Tutar Tespit Belgesi (TTB), which is used to show that the investment conditions have been met.

Under the previous practical workflow, the valuation report for a citizenship file was obtained through GEDAŞ Gayrimenkul Değerleme A.Ş. This meant that applicants had little practical choice over the valuation company. The process was not necessarily difficult in every case, but it created a single-company bottleneck for investors managing a time-sensitive application.

GEDAŞ is not being removed from the market by this update. The reported change is that GEDAŞ should no longer be treated as the only possible route for this type of valuation.

What changes under the new model?

The updated approach opens the door for more than one valuation company to prepare reports for Turkish citizenship files, provided that the company meets the required conditions. The applicant may select a company through the appropriate Web Tapu application option. If the applicant does not make a selection, the system may assign a company through an automatic process.

This does not mean that any ordinary appraisal office can prepare a citizenship valuation. The company must meet the relevant regulatory and system requirements.

• It must be authorised by the Capital Markets Board of Türkiye (SPK).
• Its membership with the Turkish Association of Valuation Experts (TDUB) must be active.
• It must be included in the Real Estate Valuation Information System (TADEBİS).
• The report must be requested under the correct purpose and application category.

Investors should therefore verify the company in the current official records rather than relying only on a firm's own statement that it is "SPK licensed."

How will the new process work in practice?

1. The request will be submitted through Web Tapu

The valuation request will be submitted through the TKGM Web Tapu service. For individuals, the property owner can submit the request. For companies, the authorised representative can apply. Some applications may also be available through the ALO 181 call centre when the owner is a Turkish citizen.

2. The applicant may choose a company or accept an assignment

The reported amendment allows the applicant to choose an eligible valuation company through the appropriate application option. If no preference is used, the system may make an automatic assignment. This does not mean that GEDAŞ can no longer work on citizenship valuations. It means that GEDAŞ is no longer the only practical option if the other requirements are met.

3. Payment must be completed before the assignment

The applicant will receive the valuation fee, payment period and request number by SMS or email. The assignment to a valuation company will not be completed before payment. Investors should keep the phone number and email address used in the application accurate and accessible.

How long is the valuation report valid?

The reported rule states that a valuation report used for title deed transactions is valid for 12 months. A new report may still be required before the title deed application if a legal or physical change affects the value or status of the property.

Examples may include a change of property type, a road dedication, the creation of an easement, a new annotation in the land registry, or other changes that affect the registered status of the property. For this reason, investors should coordinate the valuation, title deed and citizenship application timelines instead of treating the report as permanently valid.

What must the valuation report contain?

More valuation companies does not mean a lower reporting standard. The valuation company and the professionals who sign the report remain responsible for the accuracy and completeness of the work.

• The report must include the signatures of at least a responsible valuation expert, a supervisor and a valuation expert.
• At least three property photographs must be included, with at least one taken indoors.
• The architectural project must be compared with the physical condition of the property.
• Differences between the legal and physical condition must be measured and shown on the project where relevant.
• The market value used for the title deed process must be stated correctly.

Partly completed projects also require special attention. The construction licence date and the actual construction stage can affect whether a value can be determined. Some unfinished buildings may be valued, while projects requiring a renewed licence or carrying a material risk of abandonment may not receive a valuation figure.

Does this remove the Turkish citizenship requirements?

No. The change concerns the valuation workflow only. The property purchase, payment trail, title deed records, eligibility review, holding requirement and the other documents in the citizenship file still need to be reviewed separately.

A sale price written in an advertisement or contract does not, by itself, prove that a property qualifies for citizenship by investment. The valuation report, title deed, payment documents and official application records must be consistent. Investors should not rely only on a figure supplied by a seller or intermediary.

Investor checklist

1. Check the valuation company's current SPK authorisation.
2. Confirm that its TDUB membership is active.
3. Confirm that the company is included in TADEBİS.
4. Make sure the request is opened under the correct citizenship-related application category.
5. Track the fee and assignment notifications sent by SMS or email.
6. Compare the names, dates and property details across the valuation report, title deed and payment documents.
7. Check the latest TKGM instructions before submitting the citizenship file.

What investors should take from the change

The old workflow was effectively centred on GEDAŞ. The new model is intended to allow other eligible valuation companies to participate and may give applicants more choice in how the report is commissioned.

That may improve flexibility and reduce dependence on a single route. It does not guarantee a faster approval, a higher valuation or citizenship eligibility. The property still needs to meet the legal and financial requirements, and the valuation report must accurately reflect its registered and physical condition.

Source and currency note: This article is based on the Memurlar.net report on the TKGM general-circular update, the TKGM information page for foreign nationals, and the SPK list of real estate valuation companies. Regulatory procedures can change, so applicants should confirm the latest wording through Web Tapu and TKGM before submitting a file.

This article is for general information only. Each citizenship application should be reviewed separately according to the applicant's circumstances and the property documentation.