Foreign nationals who desire to reside in Turkey must obtain a residence permit. In Turkey, there are different kinds of residence permits granted to foreigners, and each has its own specific requirements. Since the documents will be prepared according to the residence type to be applied for, it is necessary to determine the application type correctly.
In Article 31 of “Foreigners and International Protection Law No. 6458”, a special residence permit is provided for “those who own immovable property in Turkey”.
Our law firm has comprehensive knowledge and practical experience in Turkish real estate law, providing its clients with top-tier legal services throughout their property ventures.
What are the steps to buying a property as a foreigner?
Purchasing The Appropriate Property: Because the value of the house to be purchased is important to obtain a residence permit, our law firm helps its clients conduct research in the real estate market to determine a residence tailored to meet their needs. In order to determine the value of the house, a valuation report is obtained through a state-approved expert.The value of the residence must be over 200.000 USD .
Legal Checks: It is critical to complete legal checks before concluding a transaction to purchase a property. These checks include verifying the property’s ownership status, liens, mortgages, or encumbrances, and ensuring compliance with zoning and building requirements. Our law firm diligently verifies property documents, title deeds, and any legal encumbrances and ensures its clients receive effective legal consulting.
Currency Purchase Document: The Currency Purchase Document is a document that shows the foreign currency was sold to a bank that operates in Turkey, then sold to the central bank before the sale transaction at the Land Registry Directorate. Foreigners are required to exchange their foreign currency in sales transactions when buying a property in Turkey. When exchanging, it’s important that they exchange foreign currency as much as the sale price. In our firm, we make sure that the provision of the currency purchase document process will be done appropriately and correctly.
Title Deed Transfer: According to the online application made to the Land Registry Directorate about the sale transaction, taxes must be paid before the process. After that, with the representation of both parties, the sale transaction is completed at the Land Registry Directorate. In all these stages, our law firm always works in coordination with its clients to prepare the documents completely, manage the process meticulously when applying to the land registry office, and ensure that they receive a diligent legal service.
For a short-term residence permit, foreigners who own property in Turkey must submit the required documentation to the relevant Provincial Directorate of Migration Management after submitting an application through the e-residence system. In general, short-term residence permits are provided for a maximum of two years. Foreigners who intend to invest in Turkey in quantities and scopes approved by the Council of Ministers, along with their spouse and children, may, however, be granted a five-year short-term resident permit. Additionally, these investors may apply for Turkish citizenship or a long-term resident permit.
For long-term residence permits, foreigners who have continuously resided in Turkey for at least eight years must submit the necessary documents to the relevant Provincial Directorate of Migration Management. Long-term residence permits are issued indefinitely; therefore, no extension application is required.