Real Estate Residency in Turkey … Benefits and Features
- Investment in Turkey
One of the first reasons that encourage foreigners to buy real estate in Turkey is the desire to obtain real estate residency, so what do you know about it?
If you have a desire to see the law of obtaining it or the benefits that its holder get, you can follow the following article with us, where we will address everything related to it and answer many of your questions and inquiries. We wish you a lot of interest.
How to get real estate residency in Turkey?
Do you think that buying any property in Turkey makes you able to obtain real estate residency? Certainly, as there are many conditions that must be met, namely:
-The value of the property should not be less than 75,000 US dollars, and this was recently issued by the Turkish government, as previously obtaining it did not require any specific specifications of the property, neither in terms of price, nor area, nor any other aspect.
-The property must be intended for housing, i.e. it cannot be obtained through the purchase of a commercial property.
-A foreigner cannot buy a property within a security or military zone.
-The buyer should not hold one of the nationalities prohibited from buying real estate in Turkey.
Advantages of obtaining real estate residency:
The first question to be asked in this regard is about the advantages that can be obtained through real estate residency. Are there many?
Here are the most important details:
First: After the investor or the owner of the property obtains the real estate residency, his family can obtain the family residency, but not all individuals, as there is a rule that must be adhered to, which is:
*Only one wife can obtain it if the property owner is married to two women.
*Only children under the legal age can have it.
Second: Those who hold this residency can move between the Turkish states completely freely and without complying with any controls or restrictions, and can also travel outside Turkey and return again without the requirement of obtaining a visa.
Third: You can benefit from the medical and educational services provided to the Turkish people and pay reduced or free fees when you go to government institutions.
Fourth: It is very easy to obtain and renew it annually as long as the foreigner owns the property. Hence, it is considered one of the best and most powerful types of residencies in Turkey, and although there are many commonalities between it and the tourist residency, it surpasses it.
Fifth: After eight years of residence in Turkey under the real estate residency, it is possible to apply for permanent residency.
Sixth: If the price of the property is 400,000$ or more, you can apply for Turkish citizenship.
Notes about real estate residency:
Through the following paragraph, we will provide you with a set of notes that must be taken into account when applying for real estate residency in Turkey:
-The property owner must have a valid passport.
-In the case that all family members will apply to obtain it, each person must submit his own file separately.
-If the applicant is under the legal age, he must be accompanied by his mother, father or the person responsible for him.
-All fees charged must be paid specifically in the local currency.
-The fees for obtaining a real estate residency must be paid through a Turkish bank.
-The person concerned must ensure that he received the stamped receipt.
-In the case of any defect or deficiency in the papers and documents, the concerned person will be notified so that the matter can be rectified within a maximum period of 30 days.
Documents required to obtain residency:
See below the most important documents and papers that must be prepared in order to obtain a real estate residency:
-The form must be filled out with the required information, which is mostly personal information.
-Bringing a Turkish passport.
-Extracting the tax number from one of the distributed tax departments in Turkey is a very easy step.
-Fee payment receipt.
-Health insurance, and children are excluded from this matter.
-An earthquake insurance policy that can be obtained from an insurance company.
Procedures for obtaining real estate residency:
There are several procedures that must be taken and implemented in order to obtain real estate residency, which are as follows:
-Enter the website specified by the Immigration Department and fill out the form as required.
-Book the earliest available appointment.
-Go to the appointed time without delay according to the hour and date.
-Work on preparing all required papers and documents.
-Ensure that there is no defect or deficiency.
After all this, the residency of the concerned person will be sent to the registered address within a maximum period of 3 months.
How is the real estate residency renewed?
It is very easy, as we mentioned above, but it is worth noting that you must re-do all the steps that you took the first time, and the renewal steps must be started 60 days before the end of the first, that is, two months.
Reasons that motivate a foreigner to reside in Turkey:
-A sophisticated and developed environment that does not lack manifestations of modernity and distinction.
-Turkey has a strong economy and important political stability.
-One of the most important countries around the world for investment and capital development.
-It is one of the most prominent tourist countries in the world due to its historical treasures and amazing natural beauty.
-The ease of buying real estate in Turkey compared to other countries, as the Turkish government does not hesitate to offer many privileges that attract many investors and those interested in the real estate sectors.
This is the most important information about real estate residency in Turkey. If you have more inquiries, you should visit our website constantly because we monitor what interests you, or contact our real estate consultant who will provide you with the assistance you need.