Cases of rejection of Turkish citizenship through investment
The Turkish citizenship law in return for investment constituted a great incentive for foreign citizens. Thus, the demand for real estate purchase and bank deposits increased in order to apply for Turkish citizenship. However, some investors worry and wonder if there is Cases of rejection of Turkish citizenship through investment. And this is what we will talk about in this article from Ebla Real Estate.
Obtaining Turkish citizenship by a bank deposit:
For obtaining Turkish citizenship by bank deposits, the applicant should deposit a minimum of USD 500,000 or its equivalent currency or equivalent Turkish Lira to banks that operate in Türkiye. Moreover, the investor must keep the deposit in the bank for 3 years.
This amount must be convertible (freely convertible into foreign currency) and equivalent (such as convertible currencies, and precious metals specified by the Central Bank of the Republic of Türkiye) to USD 500,000.
There is no condition for foreigners to deposit the amount in question by opening an account in a single bank operating in Türkiye. It is possible to apply for Turkish citizenship if it is determined that the total amount of deposits in different accounts opened at banks operating in Türkiye provides USD 500,000.
The investor has the right to take the benefits of the amount at any time during the 3 years.
Obtaining Turkish citizenship by real estate investment:
A foreign citizen can obtain Turkish citizenship by buying a property in Türkiye, whether it is agricultural or architectural land, and whether the building is under construction or ready; If the property meets the conditions and criteria of Turkish citizenship.
The investors should invest 400.000 $ or more in real estate in Türkiye or its equivalent in foreign currencies. Moreover, the buyer must not sell the property for 3 years.
Furthermore, the investors must obtain the real estate appraisal report from an approved real estate company in Türkiye. Additionally, the specified value of the property must be paid by bank transfer. the investor should purchase the property from a Turkish national or a Turkish construction company.
Cases of rejection of Turkish citizenship through investment
After fulfilling the conditions of Turkish citizenship in return for investment and accepting the file, it cannot be rejected in any way. Thus, the naturalization decision comes within a short period, generally not exceeding two months.
However, there are some cases of rejection of Turkish citizenship through investment, including:
- Forgery of documents and papers.
- Submission of an illegal real estate appraisal report document.
- Threat to national security.
- Breach of morals and public morals.
Edited by: Ebla Group Real Estate
If you like the topic, do not forget to share it with your friends
