For centuries, Turkey has been the best host within the East region during times of peace and war. The peaceful tendencies of Turkey were apparent during the last five years; Turkey had a supreme rule of resolving conflict and securing a safe house for whoever knocked on its door.
According to the peaceful and generous attitude of the Turkish government, several regulations that referee foreigners' affairs have been developed. A new sort of Residence permit has been modified and implemented, such as the one dedicated to international students or the one for international employees, who are legally eligible to gain a work permit and a residence permit. And within this article, Turkey Advisories will inform you about Real estate residence in Turkey's regulations, how to obtain it, and the main conditions??? all you will know in this article.
First: What is The Real Estate Residence Permit in Turkey?
The real estate residence permit in Turkey is granted for foreigners who possess real estate property in Turkey. It's considered a short-term and renewable residence permit for one year. The primary crucial condition of obtaining a real estate residence permit in Turkey is to buy a property in Tukey. According to the property's title deed located in Tukey, which illustrates the ownership, the residence permit will be granted.
The Main Condition for obtaining a real estate residence permit in Turkey:
1- If a property is bought in Turkey, the foreign investors would be legally eligible to gain the real estate property residence permit. However, the title deed must be obtained by purchasing the property in Turkey via cash; otherwise, the ownership won't be proven.
But are foreign investors legally qualified to share families' members on the same application??
- The foreigner investor can share his wife and kids by applying for a family residence permit, but not the real estate residence permit. Turkey's real estate residence permit is dedicated only to the asset holder. Still, according to his ownership of the property, he will be legally qualified to grant his family a family residence, not real estate.
2- The interior space of the property in Turkey is limited to min or max space by purchasing a villa by the sea in Istanbul or a studio; still, you can extract the real estate residence permit.
What are the legally required documents for the real estate property residence permit?
1- Residence permit application form, filled out and signed by the owner of the property or his legal representative if he authorizes on his behalf
2- The original copy of the passport or travel document provided the date of the last entry into Turkey before submitting the application
3- The tax number is easily extracted from the nearest tax department to the real estate owner's residence.
4- (4) personal photos with white backgrounds must be newly taken.
5- Valid health insurance that covers the duration of the residency application.
6- A copy of the family booklet translated by a sworn translator and certified by a notary public (Noter).
7- A copy of the receipt of the real estate residence application fees, which are paid in the Directorate of Immigration, plus the original title deed document with a copy of it certified by the
notary requested exclusively from the property owner.
8- The document numbering the building with the floor built by "Nomaratage" is extracted from the municipality where the property owner resides.
9- The earthquake insurance document for the real estate "DASK" is mandatory and can quickly be extracted from any insurance company.
What are The Notable Privileges of Gaining The Real Estate Residence Permit:
Recently the Turkish government modified the law of granting Turkish citizenship to foreign investors in Turkey. Previously obtaining Turkish citizenship for foreigners was 250.000 $ for each application. But recently, in mid-2022, the amount transferred to become 400.000 $ for one application and title deed.
Since then, the demand for Turkish citizenship has become stable but has not decreased. But the purchasing value is not equal between all foreign investors; the financial ability would be different and uneven to buy a property valued at $ 400,000.
Therefore today, foreign investors seek to obtain real estate residency, which is not imposed on investors a fixed purchase value for obtaining residency, unlike Turkish citizenship, which sets certain unadjustable restrictions and a purchase value. So as real estate experts would strongly highlight the methods of different kinds of real estate investment in Turkey, which is quantity over quality, which we can implement in a specific region in Turkey.
For example, Esenyurt municipality is a new emerging district; located in Istanbul on the European side. Esenyurt has an emerging real estate market with a well-developed and organized infrastructure. However, the real estate market of Esenyurt offers affordable real estate properties for those interested in the real estate residence permit and simultaneously make a successful investment in the long term.
Not only Esenyurt municipality's real estate market can help you accomplish several goals and interests within the real estate market of Istanbul; there're lots of options. Basin Express market has more sophisticated options, such as the operation's contracts, that guarantee the annual revenue within warranted contacts.
However, whether in Esenyurt or Basin Express municipalities or any other spot in Istanbul or Turkey, the options will help you gain the real estate residence permit, but before you should inform yourself about various essential issues related to the legal issues and also one link to the real estate world of Turkey.
All you need to own is a trustable partner to move confidently to the next step of purchasing a property in Turkey in order to gain citizenship or a real estate residence permit. So connect with us today, and let our professional and highly-qualified team helps you own what you deserve.