Real estate residency laws in Turkey 2024

Real estate residency laws in Turkey 2024

Created: 2024-01-05 Modified: 2024-07-10 Views: 1635 Luxury Signature Admin
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Turkey remains one of the most important destinations for real estate investment and those seeking permanent residency opportunities. Turkey allows foreign investors to benefit from many advantages and opportunities in the Turkish real estate market, and the Turkish government enhances this attraction by facilitating residency laws in Turkey. Among the types of residency granted by Turkey to foreigners is real estate residency, which is granted to foreigners who buy a property in Turkey. In this article, we will discuss Turkey's 2024 real estate residency laws and how investors can benefit from them.

 

What is real estate residency in Turkey?

It is a card granted by the Turkish government to every foreign investor who owns a property in Turkey, on the condition that the property is used for housing. Real estate residency in Turkey allows its holder to enjoy all the rights to education and health care and to live in Turkey legally. Real estate residency in Turkey is a limited-term residence, which is granted for a period of one or two years, and it is renewable. The real estate residence permit is automatically renewed as long as its holder is the owner of the property and lives in it.

Real estate residency is one of the most requested types of residency by foreigners, due to the many advantages it provides, including:

  • The ability of living in Turkey legally.
  • The ability of the property owner’s family (his wife and children under 18 years of age) obtaining real estate residency and enjoying the same benefits and rights.
  • The ability to move between Turkish states and cities without the need for a travel permit.
  • The ability of receiving education in Turkish schools and universities.
  • The ability of benefiting from free treatment or large discounts in the field of Turkish health.
  • The ability of exchanging real estate residency for permanent residency in Turkey after 8 years of holding it.
  • The ability of renewing the real estate residence permit with great ease.
  • The ability of applying to obtain Turkish citizenship if the value of the property exceeds $400.000.

 

The new real estate residency law in Turkey 2024

The new real estate residency law in Turkey and its recent amendments require that the property price be a minimum of $200.000 to obtain this type of residency in Turkey.

 

What are the conditions for obtaining real estate residency in Turkey 2024?

  • Purchase a property in Turkey worth no less than $200.000 and live in it.
  • The presence of a real estate title deed document (Tapu).
  • The property has earthquake and disaster insurance (DASK).
  • A passport valid for at least six months.
  • A family statement that includes the name of the property owner, the name of his wife, and the names of his children, translated into Turkish and certified by a notary public.
  • The presence of health insurance in Turkey for all family members.

 

What are the documents required for real estate residency in Turkey 2024?

  • Application form.
  • A passport valid for at least 6 months.
  • A copy of the passport translated into Turkish and certified by a notary public.
  • A copy of the entry visa to Turkey, highlighting the entry stamp and date.
  • The real estate title deed document that clearly shows the value of the property.
  • Earthquake and disaster insurance policy in Turkey (DASK).
  • The family booklet and a copy of it, translated into Turkish and certified by a notary public.
  • 4 personal photos.
  • Availability of a bank account.
  • The tax number, which can be obtained for free and easily from the Turkish Tax Department.
  • Valid health insurance, excluding children under the age of 18 and the elderly over the age of 65.
  • A lease contract or residence permit issued by the Turkish Civil Registry

Frequently asked questions

What is real estate residency in Turkey?

It is a card granted by the Turkish government to every foreign investor who owns a property in Turkey, on the condition that the property is used for housing. Real estate residency in Turkey allows its holder to enjoy all the rights to education and health care and to live in Turkey legally. Real estate residency in Turkey is a limited-term residence, which is granted for a period of one or two years, and it is renewable. The real estate residence permit is automatically renewed as long as its holder is the owner of the property and lives in it.

What is the new real estate residency law in Turkey 2024?

The new real estate residency law in Turkey and its recent amendments require that the property price be a minimum of $200.000 to obtain this type of residency in Turkey.

Can foreigners buy property in Turkey?

Yes, foreigners can buy property in Turkey provided there are no security or military restrictions that exclude certain areas from foreign ownership.

What are the legal procedures for purchasing property in Turkey?

The legal procedures for purchasing property in Turkey include the following steps:
1. Verification of the title deed (tapu).
2. Verification of the legal status of the property.
3. Obtaining a tax number.
4. Opening a bank account in Turkey.
5. Signing the purchase contract between the buyer and the seller.
6. Receiving the title deed from the Land Registry Office (tapu office).

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