Buying real estate in Turkey is very advantageous in many different ways. Turkey is seen as one of the most suitable places for real estate investment, especially thanks to the suitability of economic conditions, the long-term benefits of investments, the presence of the most reliable environment in Europe, the ease of legal procedures and many other advantages. In Turkey, many situations such as short-term policy changes, interest rate and legal regulations make real estate investment more advantageous for foreigners. Purchasing a property makes the processes much easier, especially for investors who want to obtain citizenship from Turkey. In the continuation of the article, all the legal and social advantages of buying a property are explained in detail.
Turkish citizenship
Issues such as Turkish citizenship and dual passports are one of the good opportunities offered to foreigners in Turkey. If a foreigner wants to acquire Turkish citizenship, there are a number of legal obligations that he must fulfill. But there is something more important than that. Even if the aforementioned foreigner fulfills these requirements completely, there may be a case of not being able to obtain citizenship. The main decision maker here is the authorized institution and all discretion belongs to them. So, what steps should be followed in order to fully fulfill the application requirements and wait for the decision of the authorized institution?
- To be mature and have the power to distinguish according to their own national law or, if stateless, according to Turkish laws.
- Residing in Turkey for five consecutive years, backwards from the date of application
- Confirming with his/her behavior that he/she has decided to settle in Turkey
- Not have a disease that poses a danger to general health
- have good morals
- Speak Turkish enough
- To have an income or occupation to provide for himself and his dependents in Turkey
- Not to be in a situation that would constitute an obstacle in terms of national security and public order
It can be described as the requirements that must be fulfilled in order to acquire Turkish citizenship. These requirements summarize the right to acquire citizenship by decision/approval of the competent authority found in official law. The Turkish citizenship process, which we are more concerned with and which affects the conditions of purchasing property, is known as “Acquiring Turkish Citizenship by Investment”. Acquiring Turkish citizenship by investment includes the following items in the official law;
Foreigners who are not in a situation to pose an obstacle in terms of national security and public order and who meet one of the following conditions acquire Turkish citizenship. Conditions for acquiring Turkish citizenship by investment:
- Foreigners who bring a fixed capital investment of at least 500,000 USD or equivalent in foreign currency or Turkish lira, or
- Those who have purchased immovable property worth at least USD 250,000 or equivalent in foreign currency or have signed a preliminary sales contract, provided that they do not sell within three years from the date of purchase
- Those who deposit a minimum of USD 500,000 in Turkish banks or buy government debt instruments, provided that it is not withdrawn for three years
- Those who purchase real estate investment fund participation shares or venture capital investment funds with at least 500,000 USD or equivalent foreign currency or Turkish lira
- People who employ at least 50 people
Residence permit
While Beytturk can offer you the services it offers online, residence permit purchases can also be done online. But of course, there are some requirements for obtaining a residence permit in Turkey. It is especially important to invest, buy property and meet other legal requirements. Applications can be made through the online system of the immigration administration. If you are applying for the first time, you can start your process by ticking the box stating that you are applying for the first time. If you are wondering if you fully meet the requirements before applying, if you are in doubt whether there are any problems or not, you can contact Beytturk’s expert team and solve all the problems with its experienced staff.
Return on investment
Owning real estate in Turkey is very important for investors for many different reasons. Turkey, which includes both Asia and Europe in terms of its geopolitical position, has an incredible interaction in terms of tourism. Having an investment in Turkey, which hosts many different climatic conditions, has a greater importance day by day. From an economic point of view, investment has many advantages not only in the long run, but also in the short run. Turkey’s current economic conditions make the exchange rate seriously important. Transactions in Turkish Lira provide a local benefit, while trading and investing in foreign exchange rates provides a global benefit.
Beytturk for buying real estate in Turkey
While making the most suitable real estate purchases with Beytturk, it is very easy for you to fully fulfill all legal procedures and to evaluate the most suitable and economical opportunities for you. Beytturk provides services not only as a real estate agent, but also as an investment consultant that takes care of every element that will benefit you in the long run. Beytturk provides you with professional assistance in order to have information about the legal processes, to examine the property you want to buy with the finest designs, and to evaluate the potential benefits of your investment both economically and socially.
