We will take an overview of the cost of real estate residence in Turkey for the year 2024 and we will review the costs associated with purchasing property and obtaining permanent or temporary residency in this beautiful country and we will also reveal the benefits and privileges you can benefit from when owning a property in Turkey.
What is real estate residence in Turkey?
Real estate residence in Turkey is an official document granted by the Turkish Immigration Department to the property owner, his spouse, and children under the age of 18 when buying a property in Turkey and this residency is granted for a period of one year at the beginning, and it is renewable annually as long as the ownership of the property continues and this residence permit is classified under the category of short-term residences, and it provides investors and their families with an opportunity to take advantage of the many advantages and benefits that Turkey provides as an investment destination and a distinctive residence.
What are the papers required to obtain real estate residence in Turkey?
- A valid passport.
- A copy of the stamped entry visa to Turkey.
- 4 biometric photos.
- Earthquake insurance.
- A copy of the tapu record.
- Health insurance.
- TAJ number for the owned property.
- Marriage certificate (if required), family statement, and family book.
- Residency application form.
- Proof of a stable monthly income of at least $500.
- Bank account.
You will also find here...sufficient details of the steps for obtaining work residency in Turkey
What are the advantages of real estate residence in Turkey ?
- Enjoy all residency rights in Turkey with the possibility of entering the country without the need for visas or prior security approvals.
- Real estate residency shares some aspects with tourist residency, but it is characterized by greater possibility of renewal and a longer period granted.
- The possibility of easily opening a bank account in Turkey.
- The ability to apply for visas to other foreign embassies from within Turkey.
- Obtaining a Turkish driving license for the car.
- Freedom of movement between various Turkish states without the need to obtain a travel permit.
- Benefit from educational services in Turkish schools and universities.
- Possibility of obtaining permanent residency after 8 years of purchasing the property.
What are the conditions for obtaining real estate residency in Turkey?
- Buying a residential property in Turkey for a value of no less than 75 thousand dollars.
- The presence of the property title deed document (Tapu) in the name of the property owner.
- Earthquake and disaster insurance (DASK) for the property.
- A passport valid for at least six months.
- A family statement that includes the name of the owner of the property, the name of his wife, and the names of his children, translated into Turkish and duly certified.
- Health insurance in Turkey for all family members.
Important information about real estate residence in Turkey :
- If all family members will apply separately for real estate residency, a separate file must be submitted for each individual.
- If the applicant is under the age of eighteen, the consent of the guardian is required.
- The fees incurred for real estate residency must be paid in Turkish Lira and the payment receipt must be kept as proof.
- If any error or deficiency is discovered in the documents submitted, the applicant will have 30 days to correct the deficiency.
- The passport of the property buyer must be valid for at least 6 months.
Reasons for refusing real estate residence in Türkiye:
- If all required documents are not submitted completely and correctly.
- In the event of non-payment of the fees required for real estate residence.
- If it is discovered that the property owner violated the legal terms during the purchase process.
- If incorrect or misleading information is provided in the application.
- In the event that there are potential security issues related to the applicant for residency.
- If the applicant is accused of a crime in Turkey or in his country of origin.
- If the property is not suitable for real estate residence due to its classification.
- If the applicant has a negative criminal record.
- If there are pending legal issues related to the applicant for residency.
- If annoyingly repeated requests are made without apparent justification.
- If the property owner is working in an illegal or illegal job.
- In the event of non-compliance with health and safety requirements.
- If there is inappropriate behavior towards the Turkish authorities.
- If the property owner has links to companies that have been involved in illegal activities.
- In the event of inability to provide the financial income required for residence
Who is entitled to obtain real estate residence in Turkey?
The owner of the property in Turkey in whose name the property was purchased, in addition to his children who are under eighteen years old, are entitled to obtain real estate residence and with regard to the wife, it should be noted that Turkish law does not allow the granting of real estate residence to the second wife if the owner is married to more than one wife.
Renewal of real estate residence in Turkey:
The validity of real estate residence in Turkey usually ranges between one and two years and before it expires, the residence owner must submit a request to renew the residence, and this includes submitting the same papers and documents that were submitted when applying for the first time and in addition, a new real estate appraisal report must be submitted showing the value of the current property and proving the continuity of the previous real estate residence.
The real estate residence renewal process is an opportunity to ensure continuity of residence in Turkey, and the property owner must adhere to all legal conditions and requirements to ensure the success of the renewal process.
In conclusion, the cost of real estate residence in Turkey for the year 2024 remains an excellent option for investors and owners of residential real estate and it is a unique opportunity to enjoy the many benefits and privileges offered by this residence and thanks to Turkey's thriving economic environment and easy bureaucracy, individuals and families can enjoy a sustainable and secure life in this charming country and if you are thinking of investing in real estate or living in Turkey, real estate residence is the perfect choice for many individuals and we wish you all the best in your next step towards living and investing in this wonderful destination.
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