Real estate residence in Turkey by buying a property
Are you thinking of obtaining a real estate residence permit in Turkey and owning your dream home, but you do not have enough information? Is it worth buying a property in Turkey to obtain it? Don’t worry; here you will find answers to all your real estate residency questions.
1,159,853 is the number of houses sold in Turkey during the first 10 months of 2022.
Day after day, investment in Turkey is increasing, and everyone is trying to seize the opportunity to invest in this economically developed country, a tourist destination, agricultural, commercial and industrial producer and exporter. Therefore, some people try to invest in Turkey’s lands, some in its stocks and factories, and some in its real estate.
In order for the country to support and encourage its investors, it provides them with many advantages and facilities, to ensure the continuation of investment and economic growth, and among these advantages are high-profit returns, tax facilities, Turkish citizenship, real estate residence permit in Turkey and many other types of residence.
A real estate residency permit in Turkey is one of the most preferred ways to obtain residency, as it enables you to own a property and settle in a developed country at the same time. So how can you get it? What are its conditions and advantages? All of this we will touch upon here.
What is the real estate residence permit in Turkey?
It is an official short-term document (for a period of one or two years), which is issued to foreigners by the immigration department in Turkey when they purchase a residential property at a specified value. It allows its holder to enjoy full legal rights in Turkey. The Turkish residence permit can be renewed annually if you own the property and live in it.
Advantages of real estate residence in Turkey
Many foreigners are interested in obtaining real estate residency in Turkey to benefit and enjoy its advantages, not only because it enables you to obtain your dream home with the specifications you are looking for, but also for many advantages, for instance:
- The possibility of obtaining permanent residence after 8 years of acquiring a real estate residence permit in Turkey.
- Benefit from discounts and insurance in the medical field in Turkey.
- Registration and access to educational services in universities and schools in Turkey.
- The low cost of real estate residence, speed, and ease of its periodic renewal.
- Possibility of granting residency to the family including the wife and children under the age of 18.
- Possibility to enter and reside in Turkey without a visa, and freedom of movement between its states.
- The possibility of obtaining Turkish citizenship when the property value reaches $400,000 within specific conditions.
- Ease of opening bank accounts and finding job opportunities.
How to obtain real estate residence in Turkey
A real estate residence permit in Turkey can be obtained by buying a property for residence in Turkey. The minimum amount for obtaining Turkish residence is $75,000 or more in large cities, such as Istanbul, Ankara, Izmir, and Antalya. For smaller cities, the minimum amount is $50,000 or more.
Real estate residence permit conditions in Turkey
Real estate residence in Turkey is characterized by its advantages and easy conditions, and this is the reason for the high demand of many investors and foreign citizens to apply for it, so what are its conditions?
- The reason for buying the property is to live and settle in it, and not for investment or sale reasons.
- The value of the property must meet the minimum requirement for real estate residency in large and small cities.
- To be a citizen of the countries that are allowed to own property in Turkey.
- The integrity of the legal status of the property, and that it does not violate the municipal plan.
- Not buying a property in an area where the Turkish government prohibits owning real estate; whether for security or military reasons.
- The property must be in the name of the person who is interested in obtaining the real estate residency.
- Registering the property and obtaining the title deed (Tapu).
The required documents for real estate residence in Turkey
When applying for a real estate residence permit in Turkey, be sure to bring and complete all the documents required of you, to facilitate the process of obtaining a residence permit in Turkey. The required documents are:
- The title deed of the property (Tapu).
- Real estate residence application form.
- The tax number of the property.
- Valid health insurance for all family members.
- Earthquake insurance policy.
- The family book is translated and certified by the notary.
- A passport for all family members, valid for at least 6 months.
- 4 personal photos.
- Receipt of other paid fees related to real estate residence.
Real estate residence fees in Turkey
Turkish residence fees in Turkey are low, as they are limited to:
- The title deed tax is equal to 4% of the value of the title deed.
- Health insurance fees for all family members vary according to the type and duration of the insurance.
- Earthquake and disaster insurance fees.
- Some other minor fees related to the real estate office.
The difference between real estate residence in Turkey and obtaining Turkish citizenship
Real estate residence in Turkey and Turkish citizenship, both of which grant the holder the right to reside and live in Turkey, but there are many differences related to their conditions and advantages, for example:
- Real estate residence permit: It can be obtained by purchasing a property worth $75,000 or more in large cities, or buying a property worth $50,000 or more in small cities.
Turkish citizenship: It can be obtained by purchasing a property or several properties worth $400,000, creating 50 job opportunities for citizens, or by investing and deposits worth $500,000. All of this is according to specific conditions you can read on the Turkish citizenship page.
- Real estate residence permit: It is valid for a maximum of one or two years, can be renewed continuously, and is obtained in a period less than the period of obtaining Turkish citizenship.
Turkish citizenship: for lifelong, and the Turkish passport can be renewed after 10 years. It goes through 7 stages, and citizenship is obtained in a period ranging between 90 and 180 days.
- Real estate residence: The real estate is for residence only, and if it is used for other purposes, the residence permit may be withdrawn.
Turkish citizenship: the property is not intended for residence only, it can be invested and get high profits through it.
- Real estate residency: obtains the advantages of real estate residency, such as enjoying educational and medical services, moving between states, and the possibility of granting residency to the family, and the rest of the advantages are explained above.
Turkish citizenship: he is treated as a Turkish citizen and obtains all his rights and privileges, such as the ability to travel to more than 112 countries, enjoy all free (educational, medical, and social) services, ease of finding job opportunities, benefit from the retirement law and the right to vote in elections, the right to have dual citizenship, granting citizenship to the family, and many other advantages.
For more information about Turkish citizenship, go to the Turkish citizenship page.
The difference between real estate residence permits in Turkey and other types of residence permits
The demand for investment and stability in Turkey has increased due to the unique investment opportunities it offers, good economic conditions, a living environment, and impeccable services. Therefore, the government has provided different types of residence permits, to suit the reason and conditions of residence or investment in it. Among the most popular types of residency in Turkey are:
Tourist residence permit (Short-Term residence) in Turkey:
It is a short-term residence permit issued as an alternative to a visa to enter the country (which is for a fixed period). The tourist residency allows its investors or visitors to reside in the country and pursue their business and plans legally.
It is issued by the Immigration Department after submitting the required papers and the lease or ownership contract, and it is valid for one or two years. It is usually granted to those coming for the purpose of tourism or treatment for more than 90 days, those coming for scientific research or investment, or for the purpose of learning the Turkish language and attending educational courses.
Permanent residence permit (long-term) in Turkey:
It is a long-term residence permit that is granted to a foreign citizen residing in Turkey for a period of 8 years continuously, and it is issued after the approval of the Ministry of Interior, and the fulfillment of all the required conditions and papers.
Work residence permit in Turkey:
It is a residence permit that is granted to a foreign citizen in a Turkish company, in which first a work permit is issued for foreigners, and then applied for the work residence permit. Among its advantages is that it can be renewed continuously, and apply for Turkish citizenship after several years of working for a Turkish company, according to specific conditions.
Student residence permit in Turkey:
It is a short-term residence permit granted to a foreign student during his studies at the university or his preparation for a master’s or Ph.D. degree. All the required papers are prepared and delivered to the university, which hands them over to the Immigration Department, and the university makes sure that the student obtains a residence permit and renews it periodically.
Humanitarian residence in Turkey:
It is a residence permit granted to foreign refugees in Turkey, according to the terms and conditions determined by the government; including the inability to return to their home country, or to obtain any other type of Turkish residence permit.
Family residence permit in Turkey:
It is a residence permit granted to the rest of the family when the father or mother obtains a work permit, and its duration is the same as the work permit period. It is also possible to obtain a family residence permit by marrying a Turkish citizen, for a period of up to 3 years, and after 3 years of marriage to a Turkish citizen, it is possible to apply for Turkish citizenship.
If you dream of buying your dream property at a low value, and settling in a civilized and European country, do not hesitate to buy a property and obtain a real estate residence permit in Turkey.
We have ensured that you get all the information you need to obtain a real estate residence permit in Turkey, in terms of conditions, documents, and advantages. Now all you need is to buy the right property, and this is what we will offer you at VAAL Real Estate. Contact us now and we will take you on an unparalleled tour with the best real estate in Turkey and the most suitable for your requirements and dreams.