Obtaining a Residence Permit in Turkey by Investing

12 January 2023
Obtaining a Residence Permit in Turkey by Investing

It is possible to obtain a residence permit in Turkey by investing. It is important for foreigners who live in Turkey. Therefore, the question of how can I get a residence permit in Turkey is in everyone’s mind. There are many types and ways to obtain residence pertmit. If you wish, you can look at our article, which gives detailed information about a residence permit in Turkey.

Acquiring a residence permit in Turkey is feasible by making an investment. This approach does not just provide economic incentives, but also numerous social perks. Notably, investing in Turkey grants you the potential to secure citizenship and a Turkish passport. Additionally, one of the key benefits is the provision of a residence permit. Let’s delve into the process of obtaining a residence permit by channeling your investments into Turkey.

Obtaining a Residence Permit in Turkey by Investing
Obtaining a Residence Permit in Turkey by Investing

Obtaining a Residence Permit in Turkey by Investing

If you want to obtain a residence permit in Turkey by investing, you will need to prepare about US$250,000 or more. The formalities are not complicated, but legal advice is required. We invite you to speak to our team of immigration lawyers in Turkey to learn the steps to obtain a residence permit in Turkey by investment. Also, foreigners can contact us if they want to start a business in Turkey.

Permanently Residence Permit in Turkey

Investing and residing in Turkey is simple and involves some formalities. Let’s review some of these and other important details:

  • Residency by investment in Turkey requires an investment not exceeding USD 250,000.
  • Once the property is purchased, the residence permit is valid for one year and then renewed for 5 years.
  • Although any foreigner can buy property in Turkey, if the property is not state-owned, a real estate specialist is needed.
  • A Turkish lawyer can help to ensure that the real estate investment is risk-free.
  • Those wishing to reside in Turkey through investment are required to obtain a National Tax ID. The State Tax Office issues this type of document.
  • Family members such as spouse and children also obtain a residence permit as part of the application.
  • A valid passport, title deed, property earthquake insurance and health insurance are some of the documents required for permanent residence in Turkey by investment.

So, these are some formalities for Turkish residency by investment. If you are interested in how to buy property and get residency in Turkey, discuss all aspects with our immigration lawyers in Turkey.

Which Documents are Necessary for Residence Permit Application?

In addition to the above-mentioned documents, applicants wishing to purchase a property and reside in Turkey need to prepare a valid passport and a completed standard application form. Furthermore, a deposit of USD 500 for one month and payment of the issued card amounting to approximately TL 10 is required.

We invite you to contact our lawyers in Turkey for further information on permanent residence in Turkey by investment and immigration to Turkey.

What advantages do you get if you buy a property in Turkey and get a residence permit?

Permanent residence by investment in Turkey allows you to stay in this country like any other citizen with rights. Since Turkey is a popular destination and appreciated by foreigners, there are many people who prefer to buy a property and become a resident in Turkey. Here are some other interesting things:

  • Family members are directly included in the Turkish residence application through investment.
  • Children, for example, can attend educational institutions in Turkey without any restrictions.
  • Properties can be rented after purchase.
  • You can enjoy sole ownership without any other restrictions.
  • With Turkish residency by investment, foreign nationals can start formalities for Turkish citizenship.

Real Estate Investment Returns in Turkey

Turkey is a country open to real estate investment. Compared to other types of investments, real estate investments are the most profitable. The real estate market is absolutely dynamic and those who buy properties such as houses or hotels make significant profits. Here are some statistics:

  1. According to the data collected from 2010 to 2021, house prices have increased by over 115%.
  2. In the first quarter of 2021, real estate prices increased by about 13%.
  3. The price per square meter of housing in Istanbul is approximately TRY 6,312.
  4. The price per square meter of housing in Ankara is approximately TRY 2,970.
  5. Approximately 1.5 million houses were sold in Turkey in 2020.

Applying for residency in Turkey is a process that can be supervised by our experts. Therefore, if you would like more information about residence permit by investment in Turkey and how to invest in Turkey and benefit from its advantages, you can contact Zaren Invest, a member of Zaren Group, which has been effectively serving thousands of clients for years.

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