REAL ESTATE VALUATİON FOR TURKİSH CİTİZENSHİP

People have to fulfill the conditions set by the countries in order to obtain citizenship from different countries. One of the most common methods used by people to acquire citizenship is to acquire a property from the country whose citizenship is desired.

The need for real estate valuation for Turkish citizenship is one of the services that arise as a result of such citizenship needs. Normally bar smoking in Turkey, but the right working within the scope determined by the institutions of our country and obtain citizenship to people who invest in certain amounts are presented. At the same time, the spouses and children of these people who are not more than 18 years old can get the chance to acquire Turkish citizenship, albeit exceptionally.

According to the guide prepared in order to regulate the procedures and principles to be applied in the transactions to be made by the land registry offices regarding the acquisition of Turkish citizenship and to inform foreign persons; The procedures and principles to be applied in the land registry offices are listed under 14 main headings as shown below.

A- Abutment

B- Legal Restrictions

C- Nature of the immovable

Ç- Number of immovable

D- Value Determination

E- Receipt

F- Sales in Installments

G- Transactions Between Foreigners

H- Mortgage and Foreclosure

I- Authority

İ- Taking Commitment

J- Commitment Cancellation

K- Transactions on Contracted Real Estate

L- Archiving and Notification of Operation Results

D-Value Assessment of the Guide constitutes an important item of real estate acquisition conditions for Turkish citizenship.

In order to obtain citizenship from Turkey, there are various criteria for purchasing real estate, which is a method that many foreigners apply to.

The right to citizenship, which can be acquired with various changes made in the law after September 19, 2018, must be determined by the relevant units of the Ministry of Environment and Urbanization.

Foreign citizens who want to become citizens of the Republic of Turkey; 250,000,-USD market value of real estate, also known as immovable property must have.

A 3-year non-sale annotation must be included in the title deed record of the real estate to be purchased. If it is forgotten that this annotation, which is very important among the the real estate valuation conditions for Turkish citizenship, is forgotten, the statement "Within the scope of Article 20 of the regulation on the implementation of the Turkish Citizenship Law, the real estate has a commitment to not be sold for 3 years from the date of its acquisition." An application must be made to the General Directorate of Land Registry and Cadastre. In this way, they can qualify for citizenship of the Republic of Turkey, provided that they undertake that they will not sell the real estate in any way for a period of three years.

In order for citizenship to be granted to individuals, it must be proved that the market value of the real estate such as housing, shop, plot purchased is 250,000, -USD or above. The value of the real estate must be determined, in other words, the appraisal process must be determined by the real estate experts in Real Estate Appraisal Companies. Real Estate Appraisal Expert şirketlerindeki gayrimenkul eksperleri tarafından tespit edilmesi gerekmektedir.

At this point, it is of utmost importance to prepare the expertise report for the real estate to be purchased before the citizenship application. So, how does the real estate expert in companies with Real Estate Valuation authorization determine the sales value of the residence required for citizenship at the title deed? Let's examine it together.

HOW TO DETERMİNE THE IMMOVABLE SALES VALUE REQUİRED FOR CİTİZENSHİP İN LAND REGİSTRY?  

We mentioned that foreign nationals must own a property with a market value of 250,000 USD in order to obtain Turkish Citizenship. At this point, the most important issue is how the value of the real estate to be purchased is determined.

The sales value of the real estate required for citizenship in the title deed is determined by real estate appraisers authorized and knowledgeable in this regard, in accordance with the International Valuation Standards and relevant regulations, through field surveys to be carried out at official institutions and on-site, and the legal-current status and appreciated the market value 

Apart from this, it should be determined by checking whether the real estate considered to be purchased has a restriction such as foreclosure or mortgage on the title deed, official institution investigations such as zoning status, license, occupancy permit in the relevant municipalities or directorates, and the existence of a situation that may cause problems for the sale.

The appraisal report is prepared by the real estate expert after the real estate is seen on site, the location and environmental conditions are examined and the real estate market of the region is researched.

The real estate value in the valuation report, on the day of sale to be held at the Land Registry Office, the market valuecalculated on the basis of the effective sales rate of the Central Bank of the Republic of Turkey, should not be less than 250,000,-USD.

In the next stage, the real estate appraisal report is sent to the relevant Land Registry Directorate via the official e-mail account signed by the experts.

 WHAT KİND OF İNFORMATİON DOES THE SCOPE OF THE REAL ESTATE APPRAİSAL REPORT CONTAİN?

Within the scope of the Real Estate Valuation report;

Reports and customer information, assumptions and constraints, valuation techniques, real estate industry data, general characteristics of real estate, environmental and physical properties, property rights, real estate, Takyidat information, Cadastral information, Zoning status, licenses, permits, project, structure usage permission information, the location and transport properties, analysis and evaluation of factors that influence the value of real estate properties, conclusion, the final value and the appraiser is responsible to report the result of the appreciation of the attachments located in the sentence.

WHERE TO GET THE VALUATİON REPORT AND WHAT IS ITS VALİDİTY PERİOD?

Another point that foreign citizens wonder about real estate sales is where to get the valuation report for citizenship and its validity period.

Valuation report for citizenship; authorized by The Capital Market Board of the Republic of Turkey(CMB) and member of the Association of Appraisers of Turkey Real Estate Valuation companies and Real Estate Appraisers working in these companies, also known as Real Estate Appraisers.

Valuation reports submitted during the citizenship application are valid for 3 months from the date of issuance, and no new reports are requested for the transactions submitted during this period.

REAL ESTATE VALUATİON FOR TURKİSH CİTİZENSHİP
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