Fraud Techniques to Apply Turkish Citizenship are Detected

Fraud Techniques to Apply Turkish Citizenship are Detected  why? The main purpose for Turkish citizenship through investment is to import 250.000$ to the country’s financial system . Any application disrupting this direct entry is treated as illegal and therefore the application are often revoked, even after the belief takes place after the citizenship is granted.

During the newest investigations, the Turkish government realized that the citizenship process is currently getting used for scams by using different payment methods and repurchase guarantees. so as to stop fraud methods and to not allow the particular investment to travel to the incorrect parties’ pockets, the govt has made some changes to the associated laws.

The new arrangements in Turkish citizenship regulation are published by TKGM (Turkish General Directorate of Land Registry and Cadastre) on 22.03.2021 stated that from that day forward, the sellers cannot give repurchase guarantee for the important estate that are used for citizenship applications. These attempts for scams are going to be prevented by the Turkish Government.

Clawback Guarantee on land isn’t Applicable

Clawback, buyback, or repurchase guarantee system may be a method commonly employed by construction companies for citizenship applications, misguiding the govt . This method seems to be just a crafty malicious marketing tool for citizenship applications. These companies offer citizenship opportunities with land cheaper than the specified amount of investment by the govt .

They modify the expertise report for the building to match the citizenship appliance worth (250.0000$). After the applicant citizenship status waiting period is over (approximately 3 years), the corporate is repurchasing the property using the clawback guarantee, which is issued supposedly with the intention of protecting the owner from the worth fluctuation, promising the repurchase of the said land at a 30-35% higher price. But they use the clawback guarantee for return to citizens extra payment within the first place. With the new changes made in regulation, if the clawback on the important estate is noticed, the primary applicant’s citizenship status are going to be canceled.

That may sound overcomplicated, best to elucidate with an example;
If you’re looking to use for Turkish citizenship, the Turkish Government requires 250.000$ as an investment. rather than paying this amount, some construction companies sell properties cheaper than the citizenship investment limit, illegally changing the appraisal report of the applicant’s property for the specified amount. they provide a clawback or resale guarantee with a 30-35% increase in price after 3 years of waiting period for the property that you simply used for citizenship.

But now because of the changes in citizenship regulations, a property can only be used once for citizenship applications, and therefore the companies cannot repurchase the properties used for citizenship applications, averting the scam attempts beforehand.

Prepaid income Guarantee Method is Scam

The clawback system also gets supported prepaid income guarantee also . Basically, this technique is employed as another front to return the additional amount that the corporate gets from the customer during the primary stage. Early income is simply a marketing trick for construction companies to turning citizenship applications into crafty businesses.

Consistent with the changes made in regulation on 22 March 2021;

• the vendor cannot buy an equivalent property back if the property is employed for citizenship purposes, even after 3 years of waiting period ends.
• If a property is employed for Turkish citizenship applications before, an equivalent property can’t be used for an additional citizenship application. One property can only be used once for citizenship application.
• Prepaid income guarantee for citizenship process isn’t legal anymore.
If the buyer’s citizenship application is crossing one among these conditions, even the primary one, the citizenship status of the customer are going to be canceled, losing the citizenship rights. For more information, you’ll click here and further examine the regulation.

As the leading land company in Turkey, we always add accordance with legal and ethical rules. We believe the importance of building trust and recommend foreigners who invest or buy a home to use for citizenship in Turkey using legal ways. By being a neighborhood of those schemes, you’ll be paying for somebody else’s mistake and risk your citizenship process along the way. Respecting the legal procedure is vital to create confidence and trust.

İf you want buy a new house in İstanbul, you should contact us