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Buy a house - get free Turkish citizenship!

Friday, 16 October 2015

Kalkan propertiesBut not just yet though!

News is emerging of a proposal to introduce a new law in Turkey, granting foreigners who buy a property the same rights as Turkish citizens.

Turkey's Minister of Economic Affairs, Nihat Zeybekci, is reported as saying that this law would be introduced some time after the general election, which is due to be held on 1st November.

It seems that the intention is to create an incentive for foreigners to buy property in Turkey, so this news is going to be welcomed by construction companies and estate agents - not to mention concrete factories.

If passed, the law would mean property owners would no longer require a visa or the current type of residence permit - instead they would be able to enter and live in Turkey as a citizen.  This would confer other rights such as the right to work, but foreigners would not have to do military service.

Questions
There are lots of details not known right now.  Is it really free or is there a cost?  Would there be a qualifying period?  Would the property have to be above a minimum value?  What happens if you sell?  And presumably the system of residence permits would continue for non-property owning expats (renters).

For now we should stress there is no change.  This is simply a proposal and it remains to be seen if and when it becomes law. 

If it does eventually become law it will be interesting to see how many retired expats will feel the urge to go back to work.

2015-10-18 tarihinde yayınlandı.

 
 
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