Introduction
Turkish Residency by Purchasing Property- Are you looking for an opportunity to live in a country with a rich history, diverse culture, and breathtaking natural landscapes? Turkey offers the chance to obtain residency through property purchase. In this article, we will explain how you can acquire Turkish residency by buying real estate,in addition to covering all the key aspects and regulations involved in the process.
There are various ways to migrate to Turkey and obtain residency, each offering different methods. Those who choose to secure residency by purchasing property in Turkey gain the right to live in the country and can extend this right to their families. Their children can also receive education in Turkey. The minimum price for property purchase to obtain a one-year residency is $200,000, while $400,000 is required to obtain a Turkish passport. Note that with the $400,000 investment and Turkish citizenship, the government restricts property sales for three years.
Laws for Foreign Nationals Purchasing Property in Turkey
Purchasing real estate in Turkey for foreign nationals is governed by specific laws. According to these laws, foreigners can buy property in most parts of Turkey, but certain strategic and military areas are exempt. These restricted areas are designated by the Immigration Office. You can access the list of prohibited zones for foreign property purchases via this link.
Documents Required for Property Purchase and Title Transfer in Turkey
To purchase property in Turkey, the following documents are required:
- Passport and a copy of the buyer’s passport (translated into Turkish)
- Translated birth certificate and national ID (as Iranian passports do not list nationality)
- An expert report (property valuation report issued by the regional Tapu Office; this must be conducted by a certified government appraiser)
- Earthquake insurance (DASK) for properties being purchased as a residence or workplace
- Two biometric photos
- Turkish tax number (Vergi Numara) — a 10-digit identification number necessary for all administrative tasks in Turkey, including opening a bank account, obtaining insurance, and handling other legal matters. Without this code, you cannot complete many formalities.
- Property purchase contract
- National ID declaration form
- Currency exchange receipt from the bank and transfer of funds to the seller’s account (Doviz Alim Belgesi)
- Original and notarized power of attorney if title transfer is done abroad via a representative
Main Costs of Buying Property in Turkey
The primary costs involved in purchasing property in Turkey include:
- Property tax, which varies based on the project
- 4% property registration fee and 1% VAT
- Legal fees, if legal services are used
Documents Required for Temporary Residency in Turkey with a $200,000 Property Purchase
- Immigration appointment confirmation
- Copy of property title deed
- Copy of passport
- Health insurance
- Taş number from the municipality (geographical position of the property or building)
- Receipt of payment for residency card issuance
- Property appraisal documents
- Earthquake insurance
- Recent utility bill (water or electricity)
Documents Required for Citizenship with a Property Purchase Above $400,000
To obtain Turkish citizenship, you need the following documents:
- Translated birth certificate, national ID (for the whole family), and marriage certificate, translated by an official translator and certified by the Turkish Embassy in Iran and the Ministry of Justice. For citizenship application, you need to provide these documents to your lawyer, who will handle the remaining process.
Important Points Before Purchasing Property in Turkey
Before purchasing property in Turkey, keep these points in mind:
- You are eligible for Turkish citizenship if the property value exceeds $400,000.
- This citizenship extends to your spouse and children under 18.
- There is no need to purchase a single property; you can buy multiple properties that together exceed $400,000. (Many clients opt for purchasing multiple units, residing in one, and renting the others to generate income while living in Turkey.)
- You must purchase the full property.
- For a legal property purchase in Turkey, you should transact from the buyer’s bank account or their legal representative’s account to the seller’s account. Despite the challenges Iranians face when opening foreign bank accounts, this problem can be solved. By working with MANSION, our experts will manage the entire process of opening a bank account and transferring the funds, ensuring a legal and smooth transaction.
- You must purchase the property from a Turkish nationality.
Conclusion
Buying property in Turkey is an excellent opportunity to obtain residency and enjoy life in this beautiful country. By following the regulations and considering the important points mentioned, you can successfully complete the process and begin your new life in Turkey.
