Due to the increasing demand for property residency in Turkey, especially in major cities such as Istanbul, Ankara, Antalya, and others, the Ministry of Immigration and Foreign Affairs is making continuous periodic changes regarding property residency.
In general, the new conditions for 2024 regarding residency through property ownership are similar to the previous ones, with some minor adjustments that the Ministry of Immigration and Foreign Affairs in Turkey has implemented. The legal consultancy department of our company, Turkey Real Estate, will guide you through these changes in this article.
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New 2024 Laws for Property Residency in Turkey
According to the recent amendments, new laws for property residency in Turkey in 2024 state that obtaining this type of residency requires purchasing a property worth at least $200,000.
What is Property Residency in Turkey?
Discover the secret behind the new laws for property residency in Turkey 2024, which opens up a range of opportunities and privileges for foreign investors. You can obtain a property residency card by owning a property, but what exactly is property residency in Turkey? This is an important question.
It can be answered by saying that it is a special card granted by the Directorate General of Migration Management, which allows you to have the rights to education, healthcare, and legal living with ease. This residency is limited in duration but can be renewed.
What are the Benefits of Property Residency in Turkey in 2024?
With the introduction of the new laws for property residency in Turkey in 2024, there are many benefits that come with this residency, including:
- Legal residence in Turkey, ensuring stability and security.
- Property residency rights extend to the property owner’s family, including the spouse and children under 18 years old.
- The ability to renew the property residency easily, providing flexibility for continuous residence.
- Freedom of movement between different Turkish provinces without needing a travel permit.
- The opportunity to receive high-quality education in Turkish schools and universities.
- Benefit from free healthcare or significant discounts on healthcare services in Turkey.
- The possibility of converting property residency to permanent residency in Turkey after 8 years of benefiting from it.
- The opportunity to apply for Turkish citizenship if the property value reaches $400,000 or more.
What are the Conditions for Property Residency in Turkey in 2024?
Based on the new laws for property residency in Turkey in 2024, the following conditions must be met:
- Purchase a residential property worth at least $200,000.
- The property must be residential, not commercial, and the applicant must remain the owner of the property throughout their stay.
- Submit property ownership documents, including the title deed (Tapu).
- Obtain earthquake and natural disaster insurance (DASK) for the property.
- Present a valid passport with at least 6 months of validity from the application date.
- Provide a family statement translated into Turkish and notarized, including the names of the property owner, spouse, and children.
- Proof of health insurance covering all family members residing in Turkey.
What is the Minimum Property Value Required for Property Residency?
For those interested in obtaining property residency in Turkey, it is important to consider the new laws for property residency in Turkey in 2024.
The property that the person intends to purchase must have a value of at least $200,000 in all Turkish provinces without exception. Therefore, the property valuation report must match the minimum amount mentioned to ensure the issuance of property residency.
How Much Does Property Residency Cost in Turkey in 2024?
This cost is not a financial burden on the applicant, as it consists of simple fees including health insurance, which vary based on age group, along with other fees such as the receipt fee paid at the Immigration Directorate branches.
Additionally, the cost of property residency in Turkey is linked to the price of the purchased property, representing an approximate percentage of 9.7% of the property price. For example, if the property price is 100,000 Turkish Liras, the fee to be paid would be around 9,700 Turkish Liras.
Frequently Asked Questions
- How long does property residency last in Turkey? Typically, property residency in Turkey lasts for one or two years, making it part of short-term residency, which is easy to renew without complications.
- Has property residency stopped in Istanbul? Currently, there has been no official announcement from the Immigration Directorate regarding the suspension of any type of visas or residency permits in Turkey. Until further notice from the Immigration Directorate, property residencies will remain available for application.
- How can one obtain permanent residency in Turkey? To obtain long-term residency in Turkey, applicants must have held a residency permit for at least eight continuous years.
