The regulation giving Turkish citizenship to foreign investors in real estate purchases of 1 million dollars found support in the real estate sector. Cathay Group Vice Chairman Mehmet Yılmaz said, “The method applied by the developed western countries will be a significant support to the Turkish real estate sector.”
Turkish Citizenship Will Be Given To Foreign Citizens
Turkish citizenship will now be granted as a result of certain investments with foreigners. However, this citizenship will be given only in certain rules. Those who want to become Turkish citizens can become Turkish citizens if they buy 1 million dolar real estate in Turkey and if they do not sell these properties for 3 years. This application also received great support from the property setter.
Cathay Group Vice Chairman Mehmet Yılmaz’s Ideas
Mehmet Yilmaz, “In most of the developed western economies similar arrangements have been implemented for a long time. We find your government’s regulatory action particularly beneficial in terms of economic outcomes. It will be an important support for the real estate sector. It will provide great added value to my country and sector by significantly increasing the sales of real estate to foreigners in and after 2017 by rapidly preparing and enforcing the regulations and communiqués of this beneficial regulation which my government has made.” said.
Cathay Group has spent 25 years with domestic and foreign investors in the development of qualified housing, office, shopping, business center, social and cultural projects.