Why is it advantageous to hold Turkish citizenship?
As far as living in Turkey is concerned, citizens have significant advantages over other immigrants.
For instance, did you know that Turkey has tightened its residency permit rules, and the practice of issuance and extension of residency permits has become even stricter? If people could previously rent or buy property from the amount of 75,000 dollars and were granted a residency based on property, now the amount is 200,000 dollars.
But Turkish passport holders are independent of changes in the rules.
There are many additional benefits to holding Turkish citizenship : in children's education, medical assistance, travel, and other spheres. Turkish citizens lead everyday, normal, peaceful lives.
Turkish citizenship was always attractive. But currently, the Turkish real estate market is in a crisis. So, is it the right time to acquire citizenship here? And if we talk about a crisis, how does it differ from those we've seen before?
The crisis in Turkey's real estate sector.
Throughout our 20 years of living and working in Turkey, the real estate sector has weathered many crises. The global financial crisis of 2008, the strained relations between Russia and Turkey in 2015, and the coup attempt in 2016 are some examples.
All these significantly affected the real estate market for approximately one to one and a half years. However, the market has always rebounded, and each time, it did so at a fast pace.
Why do foreigners keep buying property in Turkey, regardless of the times?
Because Turkey is an excellent place to live. Both the climate and locals' attitude towards visitors, not to mention an interesting environment – historical landmarks, natural beauties, tourist spots. And of course, the magnificent sea and beaches.
- Firstly, small and unscrupulous agencies and developers will leave the market.
- Secondly, sellers are already prepared to reduce prices, and it's possible to arrange favourable deal terms with them. So if your agency knows which developers are ready to negotiate, they can offer you significant discounts, sometimes up to 30%- 40% lower than previous asking prices.
- Thirdly, serious buyers no longer have to queue and take what's on offer rather than what's desired: there's now a broad selection of properties available.
It should not be forgotten that obtaining citizenship in most other countries is much more difficult and expensive.
Even though Turkey has become more costly, it still remains the most convenient and superior choice for those who wish to obtain a second passport, especially for people from the post-soviet countries, Europe and Central Asia.
An important point: when buying property in Turkey worth from $400,000, citizenship is given not only to the buyer but also immediately to his family members.
That is, citizenship for all close relatives will not cost $400,000 each, but this amount is somehow divided among each - for the wife, for all the children. In the end, it amounts to around $100-150,000 per person for the passport of another country - and perhaps even less, depending on your family size.
How does Tolerance Homes Company help its clients obtain Turkish citizenship when buying property?
We assist our clients with all citizenship procedures, we have an immigration lawyer.
We constantly remind, and our clients know well, that Tolerance's service does not end after the transaction, and they can always turn to us with any queries and for help - not just regarding property matters.
We discussed what exactly Tolerance Homes Agency does to help clients get a Turkish passport in the video:
We are happy to answer all your questions, get in touch on Whatsapp +90 (532) 158 42 44
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