Understanding the Financing Restrictions for Citizenship by Investment
No, you cannot apply for Turkish citizenship through real estate investment if you purchase the property using a mortgage or loan. Here are the important points regarding this regulation:
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Cash Purchase Requirement:
The Turkish government requires that the property you buy must be paid for in full with cash from foreign sources. This means that any funds used for the property purchase should originate from outside Turkey and not be financed through local bank loans or mortgages. -
Purpose of the Regulation:
This regulation aims to ensure that the investment contributes directly to the Turkish economy and is not encumbered by debt. By requiring cash purchases, the government can maintain a straightforward investment process that aligns with the citizenship application. -
Consulting Professionals:
It’s highly recommended to consult with legal experts or financial advisors who specialize in Turkish real estate and citizenship matters. They can provide tailored guidance and help you understand your financing options while ensuring compliance with the relevant regulations.
In conclusion, to qualify for Turkish citizenship through real estate investment, you must make a cash purchase without the involvement of any mortgage or loan financing.