AKSA PROJECT Design & construction without limits

_One of the best features of Turkish citizenship is that it facilitates obtaining papers and documents, renewing documents, and conducting transactions such as (issuing or renewing a passport – proof of marriage – registering a birth… etc.).

_ The owner of Turkish citizenship can travel to 70 or more countries around the world without the need to obtain a visa (26 American countries – 11 African countries – 21 Asian countries – 8 European countries – 4 Australian countries).

_ Turkish citizenship for foreigners increases job opportunities in all government and private sectors and without the need to obtain a work permit.

_ People who have Turkish citizenship can benefit from the retirement law upon reaching the legal age (60 years) or after completing 25 years of service.

_ Turkish citizenship grants people who have reached the age of 65 the right to benefit from public transportation services for free, such as (railways, marine means, and buses) belonging to municipalities.

_ The owner of Turkish citizenship can retain the original nationality  as Turkey allows people to have another nationality, i.e. it allows (dual nationality).

_The possibility of changing certificates and practicing professions prohibited for foreigners such as (law – pharmacy – veterinary medicine – midwifery – private and public security for companies – maritime professions – customs clearance – notary) or professions that require special permission such as (education – medicine).

Some important and major changes were made to the procedures for obtaining citizenship through the real estate investment rules on December 19, 2022. Before explaining them, it is important to clarify that all of these changes will come into effect starting from January 1, 2023.

If an initial real estate sales contract (known in Turkish as “gayrımenkul satış vaadi sözleşmesi”) is used as an investment, an investment of US$400,000 must be pledged on each single contract, and the number of properties covered by such a single contract does not matter, but it is no longer possible to combine More than one initial sales contract for citizenship application anymore.

Initial real estate sales contracts cannot be combined with already purchased real estate purchases. It will no longer be possible to apply for citizenship through joint property, even if the value of a single property is significantly more than US$400,000; Where only one investor can benefit from one property to apply for citizenship.

For example, if two foreigners buy a property worth US$800,000 in equal shares ($400,000 each), they will not be able to apply for citizenship. The property that a foreign investor will buy with the aim of obtaining Turkish citizenship must not be owned by a Turkish citizen who obtained citizenship through investment. It no longer matters whether he previously used this property to obtain citizenship or not.

Al Qaeda is now very different from what it was before. For example, if Mr. Ahmed from Egypt bought two properties, one worth $400,000 and the other worth $300,000, and used the first property to apply for citizenship, he would be able to sell the other property after 3 years to new foreign investors who aim to obtain Turkish citizenship from During real estate investment, however, new investors will not be able to use the first property that Mr. Ahmed owns and has already been used to obtain citizenship.
However, according to the new rule, new investors cannot use any of Mr. Ahmed’s properties to apply for citizenship anymore (because the second property is not worth the required $400,000).

Real estate to be purchased by a foreign investor with the aim of obtaining Turkish citizenship must not be owned by a Turkish company, if the majority of its shares are owned by foreigners, foreign companies or Turkish citizens who obtained citizenship through investment; This rule was also different from what it was before. Previously, this requirement was only applicable in cases where the foreign partner of the company had the same nationality as the foreign client. Furthermore, there was no restriction on foreign partners who had already obtained Turkish citizenship through investment, and they would be considered as genuine Turkish citizens for the purpose of this rule.

Therefore, citizenship and its new amendments are considered an essential substitute for investment.

Many details make real estate investment in Türkiye a golden opportunity:

1- Comprehensive stability throughout the country:

Real estate investment in Turkey, as stability on more than one level makes the investor reassured that his investment will not be at a loss, no matter how bad the circumstances are. It is stable on the economic level, and today its economy competes strongly on the global level, as it ranked thirteenth, and it is likely that in the coming days it will witness… Greater progress.

3- The recovery of its tourism sector:

It is also important to know that the tourism and real estate sectors share the same fate, and since Turkey is a distinctive tourist destination because it contains many diverse tourist sites that belong to the field of nature and others that have a connection with history and antiquities, the most investment types that are recommended to be made through are Tourism should be close to those sites so that it will bear satisfactory results.

4- The presence of urban transformation projects:Today, Turkey relies on this policy, as it focuses all its efforts on urban transformation, which means that it will rehabilitate many housing and real estate properties to the modern style, which leads to the fact that there will be many real estate projects and offers available to investors, and the real estate market in Turkey is not affected. The price of the Turkish lira fluctuated against foreign currencies because the Turkish government prevented it from being sold for anything other than the Turkish lira.