The interest for real estate residency in Turkey has been growing steadily in the past years, with foreigners from all over the world moving to the country for a range of reasons.
In order to obtain a residence permit, applicants need to be at least 18 years of age and provide evidence that they can meet some specific criteria:
-Be financially independent, with a monthly income that is higher than an amount set by law (currently TL 6600).
-Have an accommodation address within the municipality boundaries, or sign a contract for an apartment.
-Provide proof of medical insurance covering them during their stay.
-Submit ancestry information proving at least one person among their ancestors was born within these boundaries.
The process takes around 1 month and, once approval is given,
In recent years, with the rising interest in real estate purchases and investments in Turkey, an increasing number of foreign nationals are trying to obtain real estate residence in Turkey.
Real estate residence is a type of permit granted to foreign nationals who have interest or capital investment in Turkish real estate. Persons who acquire a real estate residency permit must reside on the property in order to maintain their status.
Real estate residency in Turkey is an excellent opportunity to own a property as an investment or to live in. Below, we will discuss the advantages and how you can acquire an ownership of real estate residence in Turkey.
Obtaining a real estate residence in Turkey has many advantages and it is worth noting them below:
– The Turkish government has simplified the process to obtain residencies, which helps those who want to live or invest legally in the country.
– Foreign investors are allowed with their foreign investments grants tax benefits and custom duties exemptions for up to 10 years.
– Ownership of a residential property provides significant investment opportunities for people who want to invest their money abroad.
