Co-ownership exists where several persons own a share in an immovable property which is physically undivided. Foreign investors can apply for the acquisition of Turkish citizenship in an exceptional way with the immovables purchased as shares.
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How can I jointly purchase properties with my business partner and get Turkish citizenship for us both?
Can there be more than one person indicated in the property title deeds for the purpose of the Turkish citizenship application?
Answers
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Yes, you can jointly own a property and use the CBI program in Turkey. However, the value of the property corresponding to each individual should still amount to $250,000. Therefore, in your case, the value of the real estate shall not be less than $500,000. Please note that this answer is specific for you and your business partner; in case of joint ownership by spouses, $250,000 will still be sufficient since one applicant satisfying the minimum requirement could tag along with his/her spouse and children under 18.
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Yes, you can register one property on two names and get the citizenship. But each share's worth has to be more than $250,000. For example, if you buy a property that costs $500,000 and if you register it 50/50 with your partner, you can apply for citizenship for you and for your partner.
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You can buy a property with multiple buyers but each buyer must invest $250,000. It is possible if the share of each applicant is worth $250,000. Each buyer must send the money separately to the seller. For instance; If the value of the property is $1,000,000 then four different buyers can buy and apply citizenship through one property.
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In case you purchase a property worth $500,000, you can own the property in half with your business partner so that both you and your business partner can qualify for Turkish citizenship.
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Joint ownership in a real estate is recognized in Turkish Law. Therefore, more than one shareholder may be indicated in the register of title deeds. Joint owners have the same right of acquisition of Turkish citizenship via CBI program as long as both of them meet the minimum requirements considered in the law. So, shareowners would be an applicant of CBI program if both of their shares are at least $250,000 or its equivalent in another currency.
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You may acquire a property in Turkey on the basis of shares you would designate. For instance 50%-50% or 30%-70%. However, in order to acquire citizenship for two persons at one property, then, each person's share should correspond to (be in the value of) $250,000 at least.
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If the property is worth $250,000 share per person, you can apply for Turkish citizenship for both of you with the property you bought with your business partner. In this case, the value of the property must be at least $500,000.
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