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How can I purchase the property in installments and qualify for Turkish CBI program?

Do I have to pay the full required investment all at once or can I use several installments to complete the investment?

Answers
  • Arslan Tenha
    Tenha Law Firm
    April 08, 2020

    It is possible to establish a sales contract in installments to acquire citizenship but the portion paid in advance or the total amount of payments must match the value of $250,000 or its equivalence. In other words, the total value of the bank receipts evidencing payment must match the value of $250,000 taking into consideration the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding the date of payment. The values are given in the valuation report and the official deed must not be less than the total values given in the bank receipt.

  • Zeynep Ekin Tepeli
    Av. Zeynep Ekin Tepeli Legal and Business Consultancy
    May 07, 2020

    You can purchase a property with several installments. Once your payments reach $250,000, you can apply for Turkish citizenship. You must prove that you paid $250.000 with bank receipts.

  • Orhan Yavuz Mavioğlu
    ADMD Mavioglu & Alkan Law Office
    April 08, 2020

    Payment with installments is not an available option. The applicant needs to show the receipt of a minimum investment of $250,000 or more in a real estate with currently available funds (no mortgage, no installments).

  • Fevzi Dogan
    Onlinehukuk.net Law Firm
    April 07, 2020

    You have to pay the full required investment all at once. To apply for Turkish citizenship, you should purchase a property (one or more properties) with a total value of over $ 250.000. The valuation must be done by an expert and the money should be brought to Turkey by customs or a bank account in the last 6 months before the application. The seller must be a Turkish citizen and all the money should be paid by a bank account.

  • Burçin Barlas
    Barlas Law Firm
    April 08, 2020

    You may pay the property price in installments. However, once the total paid amount is over $250,000, that's only when you can initiate the citizenship application. Due to the relevant law, it is mandatory to present the bank transfer receipts which shall be in total of $250,000.

  • Burçak Sercan Sarikaya
    Sarikaya Sahin
    April 08, 2020

    You are required to pay in full. However, if you obtain credit from a Turkish bank or a foreign bank; then, the bank would pay to the seller in full and you might pay to the bank in installments.

  • Hakan Avci
    UHB International Law office
    April 09, 2020

    In order to apply for Turkish citizenship, you need to invest at least $250,000 in real estate. Also, you need to prove that you've paid this amount with bank receipts. In this case, the only way to install your payments is using a loan from a bank.

  • Fatih Barcin
    Tuncay & Barcın Law office
    April 10, 2020

    If you want to buy a property in installments, you have to pay $250,000 of the installments and then you can apply.

  • Ibrahim Aslan
    Aslan Attorney
    April 22, 2020

    The citizenship by investment regulation allows you to purchase the property by installments but you cannot start your citizenship process unless you reach the $250,000 payment. Yes, you can make send the money to the seller several times. In this case, the total value of the bank receipts evidencing payment must match the value $250,000 taking into consideration the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding the date of payment.

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