Foreign home buyers in Turkey are granted a one-year residence permit.
In recent years, the Turkish government has made it easier for foreign citizens to buy houses and real estate in Turkey. With the repeal of the Reciprocity Law, buyers from 184 countries can now purchase Turkish real estate in Turkey with just a passport and three photos. The change is intended to encourage foreigners and businesses to invest and do business in Turkey, which is expected to bring an additional $30 billion into the economy by the end of 2015.
Turkey Citizenship Benefits
The Turkish and foreigner purchasing processes are identical, with the exception that the foreigner purchasing property co-ordinates are sent to the Ege Ordu in Izmir to be approved first. This process lengthened the purchasing period, which took between 1-2 months to complete the purchase.
The Arab and Gulf state citizens who are the happiest to see the new change in action are those from Iran, Iraq, Syria, Lebanon, Palestine, Kuwait, Dubai, Bahrain, Qatar, Saudi Arabia, Egypt, Libya, Erbil, and Mosul, where a new life start-up for living and establishment in Turkey has become possible.
Turkey Investment Real Estate
After purchasing real estate and changing the name on the title to the foreigner’s name, the Turkish government grants a one-year free residence permit called ” oturum izni ” or ” e-ikamet ” to live permanently for 12 months and is renewed each year.
As long as the tapu is still in the foreigner’s name, the Turkish residence permit renewal application can be made online in the government system to Goc Idaresi for extension each year, effectively replacing the 90-day tourist visa issued at customs. Since the law went into effect this year, the number of people interested in buying a home in Turkey has more than doubled from Gulf and Arab countries.
