The Turkish real estate market has witnessed great demand by foreign investors in recent years, and after the increase in the purchase of real estate and residential apartments by foreigners, In view of the great importance of real estate ownership in Turkey and the increasing demand by investors, the Real Estate residence permit Law in Turkey was introduced, and below we will learn about everything related to Real Estate residence permit Law in Turkey in detail.

What is real estate residency in Türkiye?

Real Estate residence permit Law in Turkey is a residence permit document that you obtain when purchasing a property in Turkey by the immigration departments in the Turkish states, provided that the property is compatible with the conditions for obtaining real estate residency in Turkey that allows its owner to enjoy the rights of education, medicine.

And living in Turkey legally. This residency is granted to foreigners who wish to own property in Turkey and settle there. The wife and family members, including children under the age of 18, are also entitled to.

Real estate residence law in Türkiye

The Real Estate residence permit Law in Turkey falls within Articles No. 31 to No. This law gives the right to own property to investors who meet the conditions, whether they are from Turkey or abroad.

Under the short-term residency clause, which is granted to many categories, including those wishing to buy real estate in Turkey. It is noteworthy that the value of the property related to the real estate residency application must be more than 200 thousand US dollars.

Benefits and advantages of real estate residency in Türkiye

There is no doubt that obtaining Real Estate residence permit Law in Turkey is one of the most important goals that all foreign investors in general seek to achieve, in order to benefit from the many advantages of this residency, including: 

• legal residency in Turkish territory.
• The property owner’s family, including the wife and children under 18 years of age, enjoys real estate residency rights.
• Freedom of movement between Turkish states.
• Obtaining educational services in Turkish schools and universities.
• Benefit for free or with great discounts from health benefits in Turkey, through medicine in Turkish hospitals.
• After 8 years of real estate residency in Turkey, the possibility of obtaining permanent residency.
• The possibility of applying for Turkish citizenship, when the value of the property or properties owned reaches 400 thousand dollars.

Real estate residency procedures in Türkiye

Real Estate residence permit Law in Turkey constitutes the real estate key that opens the doors for investors to obtain Turkish citizenship, so we will list the procedures related to how to obtain Real Estate residence permit Law in Turkey:

• Buying a property in one of the Turkish states, and obtaining a title deed document. 
• Prepare the necessary papers to obtain real estate residency in Turkey. 
• Attend the interview at the Immigration Directorate, in person or under an official power of attorney.
• Submit the required papers and documents to the responsible employee. 
• Pay the fees charged for real estate residency in Türkiye. 
• Sending the real estate residence card through one of the mail methods, to the investor’s home address, which was registered when the papers were delivered.

Conditions for real estate residency in Türkiye

Many investors or those wishing to own property ask many questions about Real Estate residence permit Law in Turkey. What are the conditions for real estate residency in Turkey? 

To answer this question, we say: With regard to the conditions for obtaining Real Estate residence permit Law in Turkey, it is necessary to purchase a specific property in Turkey, regardless of the type or value of the property. 

This allows those wishing to obtain real estate residency the freedom to choose the property, without requiring a minimum price. Real estate, whether it is a residential apartment, investment land, or commercial offices.

Likewise, after purchasing the property, it must be registered in the Land Registry Directorate, and the ownership deed must be obtained, which is one of the most important official papers required in order to obtain real estate residency in Turkey.

What is the minimum value of the property that qualifies for real estate residency?

Anyone who wants to obtain Real Estate residence permit Law in Turkey must note that the price of the property to be purchased must be $200,000 or more in all Turkish states without exception. It should be noted that the real estate evaluation report must be equal to the minimum mentioned to guarantee the issuance of real estate residency.

Documents required for real estate residency in Türkiye

To apply for Real Estate residence permit Law in Turkey, the following documents must be submitted: 

• Application paper for real estate residency. 
• A passport valid for a period of not less than 6 months. 
• A registered visa with an entry stamp to Türkiye. 
• The presence of what is known as DASK earthquake insurance for the property. Medical insurance paper. 
• It can be obtained from Turkish insurance companies. 
• The family booklet is translated into Turkish, and certified by a notary public in Turkey. 
• 4 personal photos.
• Having a fixed monthly income of no less than $500 per month. 
• Bank account.

Real estate residency fees in Türkiye

The costs of applying for Real Estate residence permit Law in Turkey are considered simple and easy, as they are limited to health insurance, the value of which varies according to the age group, and some other fees. The cost of Real Estate residence permit Law in Turkey depends on the value of the property to be purchased in Turkey.

As real estate ownership fees in Turkey amount to approximately 9.7% of the total property price. If the value of the property you purchased in Turkey is 100 thousand Turkish liras, you must pay a fee to purchase the property worth approximately 9 thousand Turkish liras.

There are also other fees related to the title deed document, earthquake insurance, and health insurance, the value of which varies according to age groups. And other documents related to issuing two real estate evaluation documents and the identity card for real estate in Türkiye.

Conclusion 

In conclusion, in view of the increasing demand from investors, Turkey introduced the Real Estate residence permit Law in Turkey, which in turn allows the investor to own a property according to some conditions that must be met by the applicant. Believing in our role in promise real estate company, we will provide you with advice on the Real Estate residence permit Law in Turkey, so if you wish to know more details, do not hesitate to contact us!