In recent years, more and more people from around the world are choosing Turkey as a place to live and invest. One of the ways to obtain a Residence Permit in Turkey is to invest in real estate.
Investing in real estate in Turkey is one of the most attractive ways to get a residence permit. The Turkish government has made significant efforts to make the residence permit process as easy as possible for foreign investors.
Residence permit on the basis of TAPU (real estate ownership) - the most reliable and independent way to stay in Turkey for a long period of time without citizenship. Owners of square meters are given a residence permit, if the property qualifies under the terms of the program. After 5 years of residence in the country on this type of residence permit, you can apply for citizenship. Your residence permit does not depend on rental agreements, with universities or even your family members. If citizenship is not needed, after 8 years of residence in Turkey, you can easily get an indefinite residence permit.
Even now, after Turkey in 2022 defined the lower limit on the price of real estate for which you can get a residence permit, new opportunities still exist. Today, investing in Turkish real estate is one of the most attractive ways to get a residence permit.
Foreign nationals can obtain a residence permit in Turkey under Law No. 6458, Article 31, of 2013. The law lists the conditions that are suitable for requesting a short-term ikamet, valid for up to two years. Among the reasons are ownership of real estate (point B) and tourist purposes (point E). This type of residence permit is often referred to as a "tourist residence permit" or "rental residence permit" because it is obtained through a rental agreement. However, you can also apply for a tourist residence permit if you own an apartment.
There are two types of residence permits: tourist (for long-term residence) and for subsequent acquisition of citizenship. The second type of residence permit holder, after 5 years of permanent residence in Turkey, can apply for citizenship. This is made out fairly rarely, since most visitors enough to have the right to stay in the country without restrictions on time, and this provides a tourist permit. And for those who want to obtain Turkish citizenship, the authorities impose quite stringent requirements, including passing the language exam and the possible renunciation of the first citizenship.
Since May 5, 2022, foreign citizens wishing to obtain a residence permit in Turkey with the possibility of obtaining a Turkish passport in the future on the basis of the purchase of real estate, must ensure that the value of your property is not less than $ 75 thousand when it comes to one of the 30 major cities in Turkey or at least $50 thousand if you purchase apartments in one of the 51 small towns. Previously, there were no restrictions on the price of objects.
All initial applications for a short-term residence permit based on real estate ownership must be accompanied by a property appraisal report. For those who are just going to buy an apartment or house in Turkey and get a residence permit on this basis, it is recommended even before the transaction to order a report from a certified appraiser, who will confirm the market value of the object. Owners of properties that cost less than $75,000 (or $50,000 in small towns) can still apply for a regular, short-term residence permit for two years.
In addition, for each initial application for a short-term residence permit on the basis of ownership of real estate requires an appraisal of the property. For those who plan to buy an apartment or house in Turkey and obtain a residence permit on this basis, it is recommended to order a valuation report, which will confirm the market value of the object before the purchase.
Getting a residence permit through investing in real estate in Turkey is a great way to get a residence right in the country. Also, investing in real estate is a perfect investment of money as Turkish real estate is one of the most stable and profitable assets in the market.
If you are thinking about getting a residence permit in Turkey, investing in real estate can be a good way to achieve your goal. But before you make a decision, be sure to read the requirements of the program.
