Are you thinking of investing in Turkey, whether in real estate or other sectors? Did you notice the many privileges and facilities offered by the Turkish government to foreigners on its soil? Do you know what rights will be available to you and what obligations you will have to abide by?
In this article, we chose to talk about the most important rights that the investor obtains in Turkey, and we will quickly highlight the duties that they must adhere to.
The most prominent rights of investors in Turkey
Through the following paragraphs, we will talk about the most important rights that foreigners obtain in Turkey:
The possibility of applying for Turkish citizenship
One of the most encouraging things for a foreigner is the possibility of obtaining Turkish citizenship, regardless of the investment he makes, and according to the type of his investment, the conditions that must be met vary:
1 - If the investment is in the field of real estate, the price of the property must not be less than 400 thousand US dollars, with the necessity of keeping it for at least three years, and the real estate evaluation document must be issued and its value paid through a Turkish bank.
2- It can be applied by creating an investment with a capital of no less than 500 thousand US dollars, such as buying bonds from the Turkish government or buying shares.
3- It can be obtained through a bank deposit, but on condition that the deposited amount is not less than 500 thousand US dollars and without withdrawing it before the passage of at least 3 years.
4 - It is possible to establish a business and employ at least 50 Turkish people.
In this context, it should be noted that the most popular way to obtain this nationality is real estate investment, and this is according to what was announced by the official authorities. The required amount was previously only 250 thousand US dollars, but it was raised in mid-June of this year.
Applying for real estate residency
One of the additional advantages that he obtains is the real estate residence permit, which is considered one of the most important types of residence permits at all, as the procedures for obtaining it are easy and can be renewed annually as long as he is the owner of the property.
Among the conditions that must be met are that the property is intended for housing, its price must not be less than 75 thousand US dollars, and it must not be in a security or military area.
Obtaining a Turkish passport
Immediately after obtaining citizenship, it is possible to apply for the Turkish passport, which is one of the most important passports in the world. During the current year, it ranked 37th and allows its holder to enter more than 72 countries without the condition of obtaining a visa, as well as more than 45 countries that grant its holder an automatic visa for The moment of arrival to its land, 8 countries grant Turkish citizens an electronic visa.
Take advantage of public services
They and their families will be able to receive treatment within the most important service centers such as medical and health centers, and study in schools and universities, all at very reasonable prices.
Foreigners in Turkey can take advantage of famous and important shopping centers and visit tourist and entertainment places such as gardens, parks, restaurants, and others.
Take advantage of installment offers
Many real estate companies in Turkey offer installment offers, and as stipulated in the Turkish constitution, foreigners can buy real estate in installments, this is an ideal solution for those who do not have the full amount due to their need for the amount in other projects or because it is not available.
One of the advantages offered by real estate ownership in this way is that the buyer will not face financial pressures at all, as the amount will be distributed over long periods.
The possibility of buying apartments under construction
Buyers can also buy apartments under construction in Turkey, which are projects that are under construction and there is a period before they are completed, one of their advantages is that their owners can get a unique opportunity and a suitable price, which is cheaper than those that are ready for housing.
Benefit from government laws and facilities
The Turkish government has not hesitated to provide all the facilities through which it can attract the largest number of investors around the world, including tax exemptions and reductions, and others.
The most important duties of foreigners in Turkey
Also, the foreign investor in Turkey has obtained many rights and privileges and therefore has many duties that he must adhere to, including the following:
- The rules and laws stipulated in Turkish law must be adhered to so as not to be subjected to any violations or material fines.
- He must respect the societal laws so that his integration with the members of the community will be very easy.
- He must pay the taxes imposed on his investments, such as real estate taxes, income tax, and others.
What are the conditions for foreign ownership in Turkey?
There is no difference that the conditions for real estate investment in Turkey are easy, unlike what other European countries impose, but at the same time there are some restrictions that must be adhered to, including:
- A foreigner can own more than 30 hectares across Turkey.
- If the property of foreigners in an area reaches 10% of its total area, the Land Registry and Land Survey Directorate issues a decision prohibiting foreign ownership therein.
- Foreigners are not entitled to buy real estate in security or military areas.
- Five nationalities are not allowed to own property in Turkey, which are Syria, Armenia, Cuba, North Korea, and Greek Cyprus.
- The real estate appraisal document must be extracted from a specialized company, as it determines the real price of the property without leaving room for manipulation.
Find out more information regarding the real estate market in Turkey and the most important laws related to it through your continuous visit to our website, through which we are keen to monitor them.
We offer our clients a lot of services such as real estate consultations and field tours through which they see the most important projects and offers available for sale. We are also pleased to help you obtain official documents and Turkish citizenship.
Advantages of buying a property in Turkey with Number One Real Estate:
Number One is one of the leading real estate investment companies in Turkey, providing all kinds of real estate services within the Turkish real estate market
We offer our clients all types of real estate from
Villas for sale in Istanbul by the sea, cheap real estate for sale in Istanbul, office apartments and shops in various regions of Istanbul, apartments within the most luxurious residential complexes in Turkey, we take care of the procedures for obtaining Turkish citizenship and real estate residence
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