Facts of residency in Turkey by property and investment

Facts of residency in Turkey by property and investment

Residency in Turkey by property is one of the most important and famous residences in Turkey.

How can it be obtained, and what are the conditions related to them it? Lale Real Estate Group has all the answers that you would like to inquire about.

In general, anyone who intends to stay in Turkey for more than 90 days will need to apply for a residence permit in Turkey.

People who want to stay for less than this time except for some countries that have visa agreements, can apply for an e-tourist visa, however they can only stay in Turkey for 90 days out of 180 days.

But if the foreigner owns a property in Turkey, he is granted a residence permit, and it will renew every year as long as the property is maintained.

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Types of residency in Turkey

There are many types of residency in Turkey that allow foreigners to stay in Turkey for various periods.

1- Tourist residency permit

2- Student residency permit

3- Humanitarian residence permit

4- Work residence permit

5- Residency in Turkey by property and investment

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Residency in Turkey by buying property

Residency in Turkey by buying property
Residency in Turkey by buying property

Turkish residency by buying property is one of the strongest and most important types of Turkish residency, whereby a foreigner is allowed to reside in Turkey.

To obtain it, the foreigner is required to purchase a property in Turkey and then he can obtain it, which, in return, will give him many advantages.

One of the advantages of Turkish residency by buying property is the entry and exit from Turkey without the need to Turkey Visa.

Turkey residency by investment is an official document issued by the immigration services in Turkey.

The residence permit allows its owner to enjoy the rights of education, health care, and living in Turkey legally, and it needs to be renewed on an annual basis.

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Residency by buying property and investment in Turkey benefits

  • Living and working in Turkey legally.
  • The family of the property owner in Turkey (wife / children under 18 years old) can enjoy the rights and benefits of the investment residency.
  • The possibility of renewing the residence permit easily and without any problems.
  • Complete freedom of movement within Turkey and its regions and cities.
  • The right of education (schools and universities)
  • Get benefit from the health care system in Turkey and to obtain medical treatment within Turkey’s hospitals, either free of charge or at low prices.
  • Obtaining permanent residence in Turkey after a period of eight years.
  • When the value of the property reaches 250 thousand dollars, the owner of the residence permit in Turkey can apply for Turkish citizenship.

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Do you get residency if you buy property in Turkey?

Do you get residency if you buy property in Turkey
Do you get residency if you buy property in Turkey

Buying a property in Turkey Istanbul is the best way to obtain Turkish citizenship, and if one of the partners in the family owns a property in Turkey, the Turkish real estate residence permit can be obtained for the family.

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Residency in Turkey by property and investment requirements

  • The real estate document that proves that the person owns a property in Turkey. In other words, the title deed for the purchased property.
  • A family statement for the person applying for the investment residence in Turkey, regardless of the person’s nationality (except for the nationalities prohibited from owning a property in Turkey), the family statement must be translated into the Turkish language and certified by the concerned authorities.
  • A copy of the necessary pages of the passport, the passport also is required to be valid for a period of no less than six months, and it must be translated into Turkish as well.
  • Health insurance for the foreigner and all his family members, regardless of their number.
  • Earthquake insurance for the property purchased by the foreigner in Turkey.

These documents must be signed and stamped from the Turkish authorities, and if they were obtained from other countries, they must be counterfeit and have certified public notarized translations.

If the applicant is a citizen of a country that has not signed the Apostille Agreement, the approval must be given on the documents by the authorities in that country (approval of the Consulate and the Ministry of Foreign Affairs or the Turkish authorities).

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Residency in Turkey by property and investment cost

Residency in Turkey by property and investment cost
Residency in Turkey by property and investment cost

There are many required papers to obtain Turkey residency permit, with the payment of a set of fees in exchange for residency. These fees are:

Fees with the purchasing process

This amount depends on the apartment itself in terms of area, location, and details, in addition to the amount required to register in the title deed, earthquake insurance and the real estate appraisal document. The person must pay 7 to 9 percent of the original property price.

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The financial amount of the health insurance

This amount depends on the age of the person and the number of insurance years in general. Considering the insurance is for a full year, the amount is estimated from 100 to 500 Turkish liras per person.

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The fees of the property tax

There is no fixed amount for the property tax in Turkey, as it varies from the nationality of a foreigner to another.

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Additional fees

The fees that are paid during the photocopying processes, and they differ according to several considerations.

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Do you know what the benefit of buying a property in Istanbul? Contact me to find out why!

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