Le Lézard
Classified in: Tourism and vacations, Business
Subjects: LAW, ECO, FOR

Antalya Homes: "Minimum Limit for Turkish Citizenship by Investment Is Expected to Rise to $500,000"

Turkey, which offers one of the most popular and advantageous citizenship programs worldwide, had dropped the lower limit for citizenship by investment from $1 million to $250 thousand in 2018. However, this amount is relatively lower compared to countries such as Spain, Portugal, Greece and Malta, and is now expected to be revised as $500 thousand.

ISTANBUL, Jan. 22, 2020 /PRNewswire/ -- Pursuant to an amendment passed in October 2018, the minimum amount required for the Turkish citizenship by investment was dropped from $1 million to $250 thousand. Mr. Bayram Tekçe, the Chairman of Antalya Homes, Turkey's leading real estate company, said, "Turkey sees serious demand from more than 100 countries but the minimum amount for citizenship by investment is well below the limits that other countries impose through similar programs like Golden Visa in Spain, also known as Investor Visa. We predict that this situation is about to change with plans to raise the minimum amount to $500 thousand."

Minimum limit for Turkish citizenship by investment is expected to rise to $500,000 from $250,000

Investors should hurry to seize the opportunities that Turkey offers.

Bayram Tekçe further compared Turkey's conditions to those of other European countries: "Spain requires you to invest at least ?500 thousand in real estate and then wait for 10 years before you can take an exam and apply for citizenship. On the other hand, Greece only grants a 5-year residence permit when you buy a property for ?250 thousand and above. Compared to these countries, Turkey offers an important opportunity, granting citizenship to foreign nationals, their spouses and underage children when they invest $250 thousand in real estate. All citizenship procedures can be carried out through power of attorney and completed in as little as six months. Turkish authorities are aware of the rise in demand, and we expect them to raise the minimum real estate investment amount to $500 thousand by 2020. I recommend individuals who wish to take advantage of citizenship by investment to hurry up."

Turkey expects records in property sales to foreign nationals.

According to Turkish Statistical Institute data, sales of residential properties reached 45,483 units in 2019 with the influence of the amended citizenship by investment program. Sales expectations for year-end 2020 is $9 billion in revenues. The Ministry of Environment and Urbanization, responsible for residential sales procedures for foreign nationals, announced that land registry offices will be opened in 12 countries to expedite the transactions.

Photo - https://mma.prnewswire.com/media/1061141/Antalya_Homes.jpg

Antalya Homes Real Estate Inc.
Aysun Tekçe

These press releases may also interest you

at 04:00
With learning on mobile devices becoming the new norm, learners want information on-demand, in the form of bite-sized modules. To help training and L&D professionals meet this demand, CommLab India, the global leader in rapid eLearning solutions,...

at 03:23
Tuniu Corporation ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019, before the...

at 02:04
Cyient, a global engineering and technology solutions company, today announced that it had signed an agreement with Hitachi Rail to deliver a series of project engineering services to support Hitachi Rail accelerate the evolution of its signaling...

3 avr 2020
Scotiabank announced that effective April 1st 2020, it will be reducing personal and small business credit card interest rates to 10.99% for customers that are experiencing financial hardship due to the COVID-19 pandemic and are receiving a credit...

3 avr 2020
The lawsuit alleges at a time of severe national need, Defendants Bank of America Corporation ("Bank of America") and Bank of America, N.A. ("BNA") (collectively, "Defendants" or "BOA") instead privileged discriminatory policies of corporate greed...

3 avr 2020
LiveShop Inc., an e-commerce platform to enable local shops to sell easily to their local buyers, has decided to offer their platform to all sellers in the U.S. and U.K. Company announcement: With social distancing and stay-at-home directives in...

News published on 22 january 2020 at 05:00 and distributed by: