This detailed guide will draw your attention to important information related to buying a house in Turkey and getting residence, Turkey residency requirements, and more!
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Overview to Buying a House in Turkey and Getting Residency
Investors are now looking for buying a house in Turkey and getting residency at the same time, which has become highly preferred due to its great benefits.
Residency in Turkey by buying a house is a renewable residency, usually for one or two years, and is granted to foreigners under some conditions.
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Law of Residency in Turkey by Buying a House
Buying a house in Turkey and getting residency! Yes, you can now do it.
It is one of the best ways to stay legally in Turkey to get residency in Turkey by buying a house.
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Turkey Residency Requirements
Of course, you are thinking now how to get residency in Turkey by buying a house.
We are here to help you know all the important details. Turkey residency requirement include:
- The value of the property shall not be less than $75,000 in major cities and $50,000 in smaller cities.
- The property must be residential.
- Tapu should be ready.
- Complete all required documents to apply for real estate residency in Turkey by buying a house.
There are also new conditions about buying a house in Turkey and getting residency, which prohibit the possibility of applying for buying a house in Turkey and residency in some residential areas; in which the foreign population has increased to more than 25%.
However, there are many real estate projects spread throughout the Turkish states with the possibility of buying a house in Turkey and getting residency.
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Costs of Buying a House in Turkey and Residency
The costs of buying a house in Turkey and residency include the following:
- The property’s price.
- Costs of health insurance for the property owner and his family members.
- Real estate tax, which is low compared to taxes in other countries.
- Fees for some documents.
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Steps of Buying a House in Turkey and Getting Residency
Here are a list of the steps you should follow in order to get residency in Turkey by buying a house:
Dealing with a Reliable Real Estate Company
The first and most important step in the journey of buying a house in Turkey and getting residency is to deal with a reliable real estate company.
We, at Lale Real Estate Group, provide you with all real estate services and investment opportunities, through which you can obtain real estate residency in Turkey by buying a house.
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Real Estate Tours for Buying a House in Turkey and Getting Residency
This step for buying a house in Turkey and getting residency is to inspect your property and ensure that it meets your requirements.
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Choosing a Suitable House for Obtaining Real Estate residency
Here you must choose to buy a house in Turkey that is suitable for residency. It should meet your requirements in terms of space, number of rooms, designs, and available services.
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Real Estate Appraisal Report for Residency in Turkey by Buying a House
Real estate appraisal report is extracted from a specialized company licensed by the Turkish government, and the real estate company helps you complete the procedures for extracting the real estate appraisal.
It is an important step for buying a house in Turkey and getting residency.
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Extracting a Tax Number before Buying a House in Turkey
Your tax number is your official personal identity in Turkey, no financial transactions can be completed in Turkey without this number.
The tax number is extracted from the tax department for free and within minutes, which is a necessary step before buying a house in Turkey and residency.
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Paying the Deposit to Reserve Your House
You must pay a deposit to reserve the house, and this is to ensure that the seller does not raise the price of the property again.
The deposit is considered as the initial contract that guarantees buying a house in Turkey and getting residency.
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Transferring Money to a Real Estate Agent or Opening an Account in a Turkish Bank
This step includes transferring the price of the property to your real estate agent, or opening a bank account in a Turkish bank, as it is one of Turkey residence requirements to obtain bank receipts.
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Signing the Contract of Purchasing
One of the most crucial steps of buying a house in Turkey and getting residency, which is signing the contract.
Here you must check all the contract’s details, and we can help you do this step safely.
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Paying Taxes for Residency in Turkey by Buying a House
Before completing the procedures for Turkey residency requirements, the ninth step of the journey comes, which includes the payment of real estate tax fees.
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Receipt of the Title Deed
This step of the journey of buying a house in Turkey and residency, you can now receive the title deed of the property.
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Preparing Required Documents for Obtaining Real Estate Residency
The last step in buying a house in Turkey and residency is to prepare the following documents and then go to the Directorate of Immigration in Turkey to obtain your real estate residence.
The required documents for Turkey residency requirements include the following:
- A valid passport for at least six months, translated into Turkish and notarized by a notary.
- Title deed.
- A family statement that includes the wife and children, translated into Turkish and notarized by a notary.
- Health insurance for the property owner and his family members.
- Property insurance against earthquakes.
- Real estate appraisal report.
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Advantages of Residency in Turkey by Buying a House
If you are wondering what are the advantages of buying a house in Turkey and getting residency, we will simplify them:
- Real estate residency is renewable for the duration of ownership of the property.
- You can apply for Turkish citizenship if the property price is $400,000 or more.
- After residing for eight years via residency in Turkey by buying a house, you can apply for permanent residence in Turkey.
- Enjoy most of the rights of the Turkish citizen, including treatment and educational services.
- Residency in Turkey by buying a house is granted to the wife and children under the age of 18.
- Housing in a developed country in various fields, advanced and modern transportation networks, a strong economic, security system, etc.
- Residence in a country with a unique geographical location.
- Buying a house in Turkey and getting residency is a long-term investment project.
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Differences Between Residency in Turkey by Buying a House and Tourist Residence
Real estate residency is somewhat similar to tourist residency, as the two types are short-term ones. We will highlight the differences between them:
- Buying a house in Turkey and getting residency is extended for the duration of the property ownership and is not subject to cancellation, while the tourist residence is granted for a limited period that can be canceled according to the conditions of the Turkish government.
- In terms of the required documents, when you apply for a real estate residency, you must have a title deed, while for a tourist residency, a residential rental contract must be available.
- The goal of buying a house in Turkey and residency can be for permanent residence, while for the tourist residency, it is usually for business, medical treatment or tourism.
- As for the possibility of annual renewal, buying a house in Turkey and getting residency is easier to renew than the tourist residency.
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FAQs about Buying a House in Turkey and Getting Residency
Do you get residency if you buy a house in Turkey?
Yes, if you buy a house in Turkey with a minimum value of $75,000, you can get real estate residency.
Can a foreigner buy a house in Turkey?
Yes, foreigners are allowed to buy houses and other types of properties in Turkey.
Can anyone buy a house in Turkey for residency?
Yes, anyone can buy a house in Turkey and get residency.
Does Turkey give permanent residency by buying a house?
After eight years of having a real estate residency, you can get permanent residency in Turkey by buying a house.
How long does it take to get residency in Turkey by buying a house?
It takes approximately a month to get residency in Turkey by buying a house.
What do you need to get residency in Turkey by buying a house?
If you want to get residency in Turkey by buying a house, some documents should be prepared:
A valid passport for at least six months, translated into Turkish and notarized by a notary.
Title deed.
A family statement that includes the wife and children, translated into Turkish and notarized by a notary.
Health insurance for the property owner and his family members.
Property insurance against earthquakes.
Real estate appraisal report.
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Read more: Foreigners Purchasing a Property in Turkey | Full Process
This was a comprehensive guide about buying a house in Turkey and getting residency. Feel free to contact us for any inquiry.
