|Thursday, January 12, 2023
The interest of foreigners to buy real estate in Turkey has increased significantly in recent times, and the
What is the real estate residence permit in Turkey?
The demand for foreigners to buy real estate in Turkey has increased significantly recently, and according to recent statistics, real estate in Turkey has achieved great sales figures this year, as the number of sales exceeded more than 2 million properties throughout Turkey.
The classification of the properties that were sold was as follows:
- 919 thousand and 972 homes.
- 375 thousand and 986 plots of land.
- 573 thousand and 982 agricultural plots.
- 93 thousand and 649 shops.
- 155 thousand and 374 other miscellaneous properties.
It is worth noting that real estate sales to foreigners in Turkey are recording an upward growth in recent years, despite the Corona Virus (Covid-19) pandemic. This, of course, is due to all the advantages that Turkey possesses from a strategic location, a charming climate, and laws and legislations that facilitate the ownership of real estate in Turkey for foreigners who do not hold Turkish citizenship.
Real estate residence in Turkey is the ideal solution for many people. By purchasing a property in Turkey, you can obtain a residence permit for a certain period in Turkey.
What is the real estate residence permit in Turkey?
A residence permit obtained in Turkey by a foreign citizen is the completion of the process of buying a property in Turkey and is issued by the Immigration Department of the state in which the property is located.
What are the conditions for obtaining real estate residence in Turkey?
- That you obtained the title deed (Tabu) after purchasing the property, and this document must be kept to be presented at each renewal process.
- The price of the property should be proportional to the number of individuals registered in the title deed.
- The purchased property must be intended for housing.
- To obtain your own tax number from the Tax Department in Turkey.
- That the validity period of the passports of the buyer and his family cover the period of real estate residence that is requested.
- To pay the real estate residence fees and taxes.
What are the papers and documents that need to be submitted to obtain a real estate residence permit in Turkey?
1- Bring the title deed of the property in Turkey.
2- The investor's and his family's passports, provided that they are valid for a long period of time and are accompanied by the residence period and the expiry date.
3- Do not forget to take out an insurance policy against earthquakes and natural disasters.
4- Health insurance for all family members.
5- A family statement, provided that it is translated and certified by the embassy of the country of origin or with a notary.
6- The tax number of the property in Turkey.
7- Four recent personal photos.
8- Fee payment receipt.
How much does it cost to obtain a real estate residence in Turkey?
As for the financial value of obtaining a real estate residence permit in Turkey, this follows a number of matters, the most important of which is the type of health insurance and its price, in addition to the tax value incurred on it, which depends on the nationality of the applicant, and of course in addition to that the price of papers, documents and their documentation, as well as the Fees of the office that will submit the application to the concerned authorities and follow up the transaction.
In addition, there are health insurance fees, which are valid for a period of one year or more, and the fees for obtaining it are from one hundred to five hundred Turkish liras if the insurance is valid for only one year, and double this amount if the insurance is valid for two years and is paid for each family member separately .
Does the family of the foreigner who owns the property obtain a residence permit?
Many do not differentiate between the concept of real estate residence and family residence, as the owner of the property cannot grant his family a "real estate residence" unless they have a legal share in this property, but a foreigner can grant his family (one wife and all his children under the age of eighteen) a "family residence" not real estate. In the event of a divorce between the owner of the property and his wife, the family residence permit expires, provided that the divorce is officially confirmed by the Turkish departments, but those who lost the family residence can move towards the tourist residence fairly easily.
Is the property required to have a certain area, or a certain amount of money with me?
Except for the conditions mentioned in the above definition, there are no other conditions, whether in the area of the property or its financial value. A foreigner can obtain a real estate residence by buying a house to live in, even with one room, with a small financial value.
In the event that you buy a property in Turkey, it is not necessary for you to obtain a real estate residence permit only, but on the contrary, you can choose any other type of residence that suits your situation, of course, but despite its shortcomings such as the short period, for example, it is one of the most residences turnout for it.
If your goal in buying apartments in Istanbul is to obtain Turkish citizenship, we recommend that you go to commercial properties such as office apartments, hotel apartments or shops, as they provide you with high profit returns and most construction companies offer rental guarantees for several years. In this case, you can take advantage of the guaranteed returns and if you wish to resell the property after three years, and here it should be noted that the owner of the property applying for Turkish citizenship is not entitled to sell the property until three years after its purchase. And when you resell the property, you will get a profitable return from selling the property between 25-35% of the capital.
FCC Group for Investment and Real Estate Development in Turkey offers you more than 200 projects in Istanbul within important vital areas, suitable for all your choices for housing and investment. All you have to do is contact our advisory team to get free real estate advice and enter the world of real estate investment from its widest doors.
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