The Republic of Turkiye offers foreign nationals the opportunity to obtain temporary residence permits through property purchase. This guide outlines the key requirements, procedures, and regulations involved in this process, as stipulated by the Law on Foreigners and International Protection (Law No. 6458).
Key Requirements for Property Purchase
To successfully apply for a temporary residence permit, the property purchased must meet the following criteria:
1. Minimum Property Value: The property's value must be at least 200,000 USD. (as of October 2023, this updated value applies to all provinces in Turkey).
2. Location Restrictions: The property must not be located in an area closed to residence permit applications. The list of closed areas is updated periodically and must be checked before purchase.
3. Title Deed Value: The purchase price stated in the title deed must be 200,000 USD or higher.
4. Payment Method: Payment must be made through a bank; cash payments are not allowed.
5. Matching Amounts: The amount shown on the title deed must match the amount paid to the seller through the bank.
6. Foreign Currency Requirement: The property value must be converted to foreign currency and sold to the Central Bank before being paid to the seller.
7. Property Type: The purchased property must be residential. Purchases of land, workplaces, or agricultural land do not qualify for this type of residence permit.
Before purchasing the property, a "Valuation Report" must be obtained from a valuation expert, indicating that the property is worth more than 200,000 USD. Only the person whose name is on the title deed can apply for this type of residence permit. If applying as a family, the title deed must be in the names of both spouses, with each spouse paying half of the property's value.
Family Residence Permits
Foreign nationals who obtain a residence permit in Turkey can also apply for residence permits for their first-degree relatives. The supporting individual must meet several conditions:
1. Health Insurance: Valid health insurance covering all family members.
2. Income Requirement: An income equivalent to at least one-third of the minimum wage determined by the Turkish Constitution for each family member.
3. Clean Criminal Record: No criminal record for the past five years concerning family life.
4. Residence Requirement: A minimum of one year's residence in Turkey with registration in the address registration system.
Applicants for a family residence permit must provide documents explaining their purpose of stay in Turkey, demonstrate their intention to live together or currently cohabitate with the supporting individual, and ensure that both spouses meet the legal age requirement (eighteen years and above).
Special Considerations
Foreigners whose residence permit applications are approved are issued an application document. This document, along with certified copies of the fee receipts, grants multiple entry-exit rights within a 15-day period upon each issuance. However, if a foreigner wishes to exit the country before their residence permit application is approved, their case will be evaluated according to the general visa regulations.
Applicants' children under the age of 18 can apply for a residence permit under the "Touristic Stay" category. For children over 18, applications must be based on education or special circumstances, and a separate residence permit application would be more appropriate.
Legal Framework
The process of obtaining a residence permit through property purchase is governed by the Law on Foreigners and International Protection (Law No. 6458). According to this law, short-term residence permits are granted for a maximum of one year at a time which may be extended through one-year additional terms. The duration of the residence permit is determined based on the foreigner's request, justification, and other relevant factors. The property must be residential and used for this purpose.
In conclusion, obtaining a temporary residence permit in Turkey through property purchase involves meeting specific legal and financial requirements. It is advisable to consult with legal experts to ensure compliance with all regulations and to facilitate a smooth application process.
Navigating the residence permit application process can be challenging and complex. To ensure a smooth and successful application, it is crucial to seek professional legal consultancy. Our team of experienced legal advisors is ready to assist you with every step of your property purchase and residence permit application. Please feel free to contact us for further assistance and to discuss your specific needs.
Disclaimer: This article is intended for informational purposes only and does not constitute legal advice.