With the circular issued by the Directorate General of Migration Management of the Ministry of Interior, some updates have been made to the residence permit application process for foreigners. Now, restrictions have been imposed on foreign nationals obtaining residence permits due to property ownership in Turkey.
In principle, foreigners can obtain residence permits in Turkey without owning property. However, since the publication of the related circular, the Ministry has tightened the acceptance criteria. This regulation requires that the property purchased by the foreigner must not be a nominal property but genuinely purchased for the purpose of residence in order for the residence permit to be granted. Additionally, in property purchases, attempts to prevent tax loss by underreporting property values are being addressed.
To obtain a residence permit through real estate investment in Turkey, ownership of real estate worth at least 75,000 US Dollars (USD) in major cities such as Istanbul, Izmir, and Antalya is required, and at least 50,000 US Dollars (USD) in smaller cities. For the residence permit application, the purchase price of the real estate must exceed the limits specified in the valuation report and the title deed.
Foreign nationals who obtained their title deed before April 27, 2022, will be exempt from this regulation.
According to the current law, a foreigner who owns real estate in Turkey above the specified value is granted a residence permit for a maximum duration of one year at a time. Foreigners who own real estate in Turkey can also reside in Turkey with their family members under the family residence permit.Documents Required for Foreigners Owning Real Estate to Obtain a Residence Permit
1- Residence permit application form
2- Passport (must be valid for at least 1 year)
3- Declaration proving sufficient financial means for the duration of the residence
4- Valid health insurance in Turkey
5- Official signed title deed proving ownership of the property
6- 4 biometric photographs
7- Title deed continuation document (for title deeds older than 6 months)
ANTALYA REAL ESTATE LAWYER – ANTALYA FOREIGNERS’ LAWYER
The process of obtaining a residence permit through real estate investment is a procedure that must be carried out with great care. It is essential to seek assistance from an expert lawyer in the field to avoid loss of rights and time. Our law office provides professional legal support regarding obtaining a residence permit through real estate investment in Turkey.
