Turkey is one of the best places to invest in real estate when it comes to the whole of Europe. The country is blessed with a beautiful location, natural landscape, amazing infrastructure, and friendly citizens.
This is why many people have decided to become property owners in the country. Apart from owning a property, you can decide to apply for a residency permit in the country.
Getting your residency permit as a foreign investor
As a foreign investor, you can easily purchase any Turkish property and get your residency permit within a short time. To achieve this, you will be needing about $450,000.
The process to get your Turkish residency permit through real estate investment is not complex. However, it is recommended that you seek legal advice. A good immigration lawyer can help navigate the legal bureaucracies involved.
Getting a Turkish permanent residency through real estate investment
When you buy a property in Turkey, you can get your residency permit. This is a straightforward process that can be achieved in a few steps. This is how to go about it.
To get a Turkish residency by investing in the country, you will have to spend about $450,000 or more. In the real estate industry, this means that you have to purchase properties with a total market value of about $500,000.
As soon as you complete the property purchase, you are given a residence permit which is valid for about one year. This one-year validity can be renewed for about 5 years.
All foreigners are entitled to buy real estate property in Turkey. If the property is not state-owned, a specialist in real estate may be needed.
You can also get an experienced real estate lawyer to ensure that the entire process of investment is free from risk.
Foreign investors that want to get a Turkish residency through investing in real estate will have to get their National Tax IDs. This document can be issued by the State Tax Department.
For Turkish residency through investment, the application also covers the children and the wife as they also get to receive their residence permits.
If you are going to be applying for Turkish permanent residency by investment, you are going to be needing some documents. These include health insurance, property earthquake insurance, a title deed, and a valid passport.
More paperwork is needed for the Turkish residency application
When applying for Turkish residency as a property owner, you will be needing some more documents. The applicants need to get a valid passport as well as submit a complete form. They will also need a $500 deposit for a month. In addition, they will also need to pay about 10 Turkish Liras for the issued card.
Benefits of Turkish residency through property ownership
You can stay in the country when you have permanent Turkish residence through property investment. This means that you have equal rights like every other Turkish citizen. Since many people from various parts of the world fancy Turkey as a great tourist location, many people decide to stay. They usually buy a property and get Turkish residence. This comes with a lot of benefits. These benefits include:
When applying for Turkish residency by investment, you can include your family members in the application.
With Turkish residency, your children can school in any institution in the country without restrictions.
As soon as the purchase of properties is purchased, you can rent them out.
When you buy a property in Turkey and get a resident permit, you can take full ownership of the property without any restrictions.
When they obtain their Turkish resident permits, people from foreign countries can begin the process of applying for citizenship in Turkey.
