Citizenship conditions through the purchase of property in Turkey and Spain.
Today we want to examine two countries, Türkiye and Spain, from the perspective of advantages and disadvantages. Since both countries have a Mediterranean climate and the industry of both countries is based on tourism. It might be a good idea to read this text before taking any action to invest by buying property and obtaining citizenship.
Conditions for buying a house in both countries
- The main advantage of buying property in Türkiye is obtaining Turkish residence. By buying property up to $75,000 in big cities and $55,000 in small cities, you can obtain a temporary residence in Türkiye (the property document must be KAT MÜLKİYETİ ).
- If you buy a property worth at least 400 thousand dollars in Türkiye, you will receive your citizenship card within 1-3 months. You can renew your passport every 10 years. but to invest in Spain with a minimum amount of 500.000 Euros to apply for Golden Visa.
- You can get citizenship and a passport for your spouse and children under 18 years old by buying property in both countries.
- After receiving the Turkish passport. You can live abroad as long as you want and you don’t need to show up to keep your citizenship. but After buying a property to obtain citizenship, you will not have the right to sell the property for 3 years. This obligation must be stated in the title deed or sales contract. Your citizenship is valid for life. But the conditions for buying a house in Spain are different. You must hold your property for at least 5 years and be in Spain for at least 6 months each year during these 5 years.
- Turkish tax authorities will not ask any questions about your current financial situation and assets
- Having a Turkish passport allows visa-free travel to 100 countries. Such as South Korea. south America. Japan and… you can also easily get a visa to the United States of America. England. Apply to Canada, Australia, and EU countries. But you can travel to all European countries throughout the year or stay for a limited period using the Spanish Golden Visa.
Disadvantages of immigrating to Turkey
- Turkey’s annual inflation rate reached its highest level in 20 years last April, affected by the economic fallout from Russia’s military attack on Ukraine and rising prices that began after the lira’s devaluation last year. The inflation rate of this country reached 69.97% in the year ending last year.
- You do not need a language test to immigrate to Turkey. But considering that most natives of Turkey do not know English, not knowing Turkish may cause problems for you. Of course, you can learn Turkish for free in some institutions.
- You should also be aware of the risks of fraud in the sale of property. Therefore, it is recommended to buy an apartment or house in Turkey with the help of professional consultants to avoid these risks.
Disadvantages of immigrating to Spain
- High cost of water, electricity, and gas bills
The cost of energy in Spain, such as water, electricity, and gas, is at a high level. For example, the cost of one month of electricity consumption in the summer season in this country is 80 euros per month, and this amount increases by 30% in the winter.
- Unfavorable labor market conditions
- Although Spain has made economic progress, the unemployment rate in this country is still at a high level and is around 14%, which reduces the chances of finding a job for those interested in working in Spain.
If you are planning to buy a house in Turkey or get a Turkish passport, be sure to consult Evara. Contact us through the links below: