In 2017 real estate owners will be granted citizenship

The Turkish authorities are going to “push” the law which allows receiving citizenship for foreign real estate owners. According to the Minister of Economy, Nihat Zeybekci, the complete legal framework will be prepared by 2017. Thereafter, foreigners purchasing real estate in Turkey can pretend to Turkish citizenship. This innovation will be a perfect motivation for attraction of foreign investors to Turkey and therefore investment growth.

Decision on citizenship grant to foreign owners of real estate was taken by the authorities late last year. An active work on the bill is being carried now.
According to the Turkish parliament, the new law will contribute to the growth of tourism, and in particular, in such an area as health tourism. Mr. Zeybekci supposes that foreigners coming to Turkey for health can be interested in real estate purchase and they can purchase an apartment for themselves. And citizenship receipt will be another motivation for investors to purchase real estate for a certain amount of money.

14.06.2016

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