In view of all the manifestations of modernity and development that Turkey is witnessing today, it has become a place that many people around the world look forward to for residence, housing and stability, because all the elements of an ideal life are provided in it. If you have made the decision to reside in Turkey, you need a legal means that authorizes your presence like Real estate residency.
Real estate residence is one of the most important and strongest residences that exist in Turkey in terms of ease of obtaining and the possibility of renewal. Through the following article, we provide you with all the information related to real estate residence in Turkey and the mechanism for its renewal.
Real estate residence in Turkey:
It is also called “ownership residence” and it is a short-term residence and is obtained by buying a property in Turkey, and it is a right of real estate owners.
Usually this residence is granted for a period of only one year or a maximum of two years, and it can be renewed whenever it expires, since the property is still registered in the name of its owner, and this is precisely what made it superior to the tourist residence. As for the rest of the details, it intersects with it in many characteristics.
Conditions for obtaining real estate residency:
In order to obtain real estate residency, the property must be specifically residential. As for its price, the price of the property must be 75000$ in Istanbul and 50000 $ outside Istanbul:
Also, any type of apartments or residential real estate is suitable for obtaining real estate residency, whether it is an apartment or a villa.
But you should know that the conditions for obtaining this residence are the same as the conditions of real estate ownership, and we have two basic conditions that must be met:
1 – The foreigner must not be a national who is prohibited from buying real estate in Turkey: (Syria / Armenia / Cyprus / North Korea / Cuba).
2 – It must be ensured that the property is not located in one of the security or military areas.
Who gets real estate residency in Turkey:
Surely you will be wondering about the people who can get this residency, does the landlord only get it on his own? It will be obtained by the property owner, his wife and children if they are under the legal age.
It is worth mentioning that we note that if the foreigner is married to more than one wife, then only one will get it. As for the children, they will get it even if they are from both wives.
Also, if the woman divorces and after the divorce is confirmed in court, the residence permit will be withdrawn from her, and she must then apply for a tourist residence.
As for children over the age of 18, they will be able to apply for one of the following residencies:
– Tourist residence.
– Student residence if they are still in the study stage.
– job residence.
– Real estate residence under their own property.
How is the real estate residency extracted?
Here are the steps for obtaining real estate residence in Turkey in tedious detail:
1 – A property must be purchased in one of the Turkish states, and then a property title deed document must be obtained.
2 – You must book an appointment for the interview, and then start preparing the required documents.
3- You must attend the interview at the appointed time at the Immigration Department.
4 – Pay all real estate residence fees in Turkey.
5 – You must wait for approval by the Immigration Department in Turkey and the residence card is sent via Turkish Post PTT.
6 – If you want to renew the residence permit, you must follow the same previous steps exactly.
Advantages of real estate residence in Turkey:
Real estate residency offers a lot of privileges to its holder, and these are the most important of them:
1 – Through this residence permit, it is possible to reside legally in Turkey.
2 – Granting this residence permit to all members of the foreigner’s family.
3 – The holder can move in complete comfort between the Turkish states without restrictions.
4 – All educational and health services can be obtained at reasonable prices and high discounts.
5 – If you continue to reside in Turkey for eight consecutive years, you will have the right to apply for permanent residence.
6 – Real estate residence does not give its holder the possibility to obtain Turkish citizenship unless the price of the property is two hundred and fifty thousand US dollars or more.
The cost of obtaining real estate residency:
First, you will have to buy the property, and this value varies according to a number of criteria and elements, the most prominent of which is its location and the area it has, and add to it the fees for obtaining the title deed of the property, which amount to 4% of the value of the property, and this must be paid by both the buyer and seller equally as stipulated by the Turkish Constitution But according to what is common, the buyer will bear it in full.
The total cost of buying a property in Turkey is about 9.7% of the property value.
There are also health insurance fees, which are valid for a period of one or two years, and its value depends on the age of the person, but it ranges from one hundred to five hundred Turkish liras.
The importance of buying a property in Turkey:
Here are ten of the most important advantages of owning real estate in Turkey:
1 – Obtaining the Turkish passport, which is at the forefront of the world and allows its holder to enter 115 countries of the world without a visa.
2 – You can have an easy and advanced life.
3 – The investor can link his business between East and West.
4 – It is also possible to obtain high investment returns, especially in the tourist seasons.
5 – A special place for children to complete their school life in order to have a prosperous future.
6 – Real estate prices in Turkey are suitable for everyone, in contrast to prices in European countries.
7 – A place preferred by Arabs in particular because of the convergence of customs and traditions that exist between the two societies in addition to the Islamic religion.
8 – Low cost of living that suits different groups compared to living in the European Union.
9 – Ease of completing the process of ownership and government laws that support the foreign investor, most notably the abolition of the reciprocity law in 2012.
10 – The real estate market in Turkey includes a wide variety of modern and contemporary and the most prominent luxury residential complexes equipped with the highest standards of safety, security and excellence.
Through this article, we presented you with everything related to real estate residency in Turkey and its most important advantages. One of the services we provide to you at Hana Real Estate company is to assist you in choosing the right property and then extracting the real estate residency. If you have any questions about this topic, you can contact us to answer all your questions.
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