Many investors are racing to acquire a residency permit in Turkey and finally a citizenship permit by purchasing Turkish property. That is due to the Turkish Government’s development and growth at all levels and regions. Thus, in Turkey in general, real estate investors in Turkey are snapping up Turkish property in droves.
Investment in Turkey’s real estate sector is one of the most profitable and wealthiest sectors in which, owing to government support for investors, every capital holder can invest in peace of mind, as these investments favour the Turkish economy as a whole. Istanbul is a city rich in temples, amenities for visitors, and beautiful landscapes. Therefore, visitors and other people who come to Turkey tend to live in Istanbul or along the Aegean and Mediterranean coastlines in southern Turkey.
Real estate residency permit in Turkey
There are different types of homes in Turkey, but for now, we will talk about citizenship by owning a property in Turkey. This form of citizenship is given to foreigners in Turkey who own real estate. It’s a short stay permit, distinguished by its potential for renewal. Under this form of residence, as companions to the owner, the spouse and children are also entitled to apply for the permit.
Residency in Turkey through the purchase of property is very close to tourist residency. The critical difference is that it is possible to renew the type of real estate home, and it is impossible to continue the type of tourism. These are the government’s incentives to allow foreigners to buy properties in Turkey.
Investment for Turkish Citizenship
After obtaining a residence permit, the property owner may obtain Turkish citizenship if the property’s price is equal to or greater than 250 thousand dollars, as specified by the amendment of the law on obtaining Turkish citizenship through the acquisition of the property. Turkish citizenship is one of the essential temptations for foreigners to look for property in Turkey, enter and raise their incomes in this area of property investment, and have many other advantages for their citizenship.
What documents are required to obtain a residency permit through the investment of real estate in Turkey?
A valid passport with at least six months left on it.
Tapu is the title deed of property.
Insurance for their property against natural disasters, such as earthquakes.
Health care for the whole family in Turkey.
Family declaration for the owner’s children, translated into Turkish by a notary from the Turkish Embassy.
The title deed (Tapu) must be held to renew the citizenship because it is not appropriate to apply for it otherwise.
What is the process of issuing a residency permit in Turkey?
To receive residency permits in Turkey, foreigners search for a property.
You must make an appointment with the Turkish Immigration Department.
The platform will provide you with a specific date, address, and a list of documents you need to prepare with you after filling out the application.
In addition to the official documents you have prepared for you, you must be on time and have the documents with you. Your request will be accepted by the worker and moved to the branch of the town where you own a property.
According to your nationality, go to the Treasury to pay the immigration permit fee, usually between $100 and $150. Before your residency permit is given, the employee will provide you with a temporary permit to enter and leave Turkey. In Turkey, it will be sent to your address.
How long does this process take?
This process takes between 15 days and three months to complete maximum. If you can arrange this in the winter months it will be quicker than in the summer when it’s busy.