{"id":99,"date":"2022-01-10T18:36:56","date_gmt":"2022-01-10T18:36:56","guid":{"rendered":"https:\/\/themexriver.com\/wp\/nextlaw\/?p=99"},"modified":"2023-03-29T20:21:50","modified_gmt":"2023-03-29T20:21:50","slug":"last-news-turkish-citizenship-by-investment","status":"publish","type":"post","link":"https:\/\/www.gkconsultation.com\/?p=99","title":{"rendered":"Major amendment regarding the Turkish Citizenship Application by Investment&#8230;"},"content":{"rendered":"<h2 style=\"text-align: center;\">Major amendment regarding Turkish Citizenship by Investment<\/h2>\n<p style=\"font-weight: 400;\"><a href=\"https:\/\/www.tkgm.gov.tr\/yabancii-db\/20195-sayili-genelge-eki-kilavuzda-degisiklik\">The Circular No. 2019\/5<\/a> amendment of the <a href=\"https:\/\/www.mevzuat.gov.tr\/MevzuatMetin\/21.5.2010139.pdf\">Turkish Citizenship Law&#8217;s Implementation Regulation<\/a> has brought significant changes to the implementation of the law, effective February, 1st, 2023. The following changes have been made:<\/p>\n<ul>\n<li>\n<h4><span style=\"font-weight: normal;\">CHANGES REGARDING THE PRELIMINARY SALES AGREEMENT<\/span><\/h4>\n<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">\u00a0It is now mandated that all transactions based on the preliminary sales agreement for the sale of real estate must be made with a single contract. This means that if a preliminary sales agreement is signed for multiple properties, citizenship cannot be applied for even if the total value exceeds $400,000.<\/p>\n<p style=\"font-weight: 400;\">Real estate purchased under a preliminary sales agreement cannot be combined with another property to meet the $400,000 threshold.<\/p>\n<ul>\n<li>\n<h4><span style=\"font-weight: normal;\">CHANGES REGARDING SHARED PROPERTIES<\/span><\/h4>\n<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">\u00a0Joint ownership of properties will not qualify for citizenship application. For example, if two foreign individuals jointly own a property worth $900,000, they will not be able to apply for citizenship. Only one foreign individual can be the sole owner of a property and only that person can apply for citizenship.<\/p>\n<ul>\n<li>\n<h4><span style=\"font-weight: normal;\">CHANGES REGARDING FOREIGN CURRENCY PURCHASE DOCUMENTS<\/span><\/h4>\n<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">The preliminary sales agreement now requires a foreign currency purchase document to be issued for the minimum amount paid on or before the contract date.<\/p>\n<p style=\"font-weight: 400;\">Properties subject to sale or a preliminary sales agreement should not have been transferred to a Turkish citizen or company by a foreign individual in the last three years.<\/p>\n<p style=\"font-weight: 400;\">Our team is dedicated to providing our clients with result-oriented and effective solutions. Our mission is to serve our clients with quality legal service. You can contact our <a href=\"https:\/\/www.gkconsultation.com\/turkish-citizenship-by-investment-lawyers\/\">Turkish Citizenship by Investment<\/a> Lawyers to start your process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major amendment regarding Turkish Citizenship by Investment The Circular No. 2019\/5 amendment of the Turkish Citizenship Law&#8217;s Implementation Regulation has brought significant changes to the implementation of the law, effective February, 1st, 2023. The following changes have been made: CHANGES REGARDING THE PRELIMINARY SALES AGREEMENT \u00a0It is now mandated that all transactions based on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[29,28,27],"class_list":["post-99","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gk-partners-news","tag-citizenship","tag-turkish-citizenship","tag-turkish-citizenship-law"],"_links":{"self":[{"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/posts\/99","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=99"}],"version-history":[{"count":10,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/posts\/99\/revisions"}],"predecessor-version":[{"id":2168,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/posts\/99\/revisions\/2168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=\/wp\/v2\/media\/1611"}],"wp:attachment":[{"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkconsultation.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}