According to Law No. 6458 on Foreigners and International Protection (LFIP), foreigners who intend to stay in Turkey can reside in the country with a document called “residence permit”.
A residence permit is a document issued to foreign nationals who want to reside in Turkey. This permit, issued by the Migration Management, gives foreigners the right to live in a certain place in Turkey for a certain period of time. Articles 28 and 29 of the Regulation on the Implementation of the Law on Foreigners and International Protection regulate short-term residence permits and address the requirements of this type of residence permit. Article 31 (b) of the Law No. 6458 on Foreigners and International Protection regulates a special type of residence permit for “foreigners who will own immovable property in Turkey”. With this type of residence permit, it will be possible to apply for a residence permit for up to 2 years. The requirements for the category of “foreigners who will immovable property in Turkey” specified in the law are as follows:
“In residence permit applications made by foreigners who own immovable property; the immovable property must be a residence/house and used for this purpose. In addition, in cases where family members have shared or joint ownership rights over the immovable property, family members can also apply for a residence permit under this subparagraph. For family members who do not have a shared or joint ownership right over the property, the immovable property may only constitute the basis for determining the financial means.”
However, some restrictions have been introduced to apply for this type of residence permit. Until recently, it was enough for the property to be worth 75.000 USD but as a result of the new implementation, this amount has been increased to 200.000 USD.
In order to get a residence permit with title deed, it is now required to purchase a property worth at least 200.000 USD in metropolitan. In addition to this amount, the property to be purchased must not be located in districts that are closed to residence permit applications. Due to the high number of foreigners living in various districts of Istanbul and other cities, some areas are closed to residence permit applications. Even if the property you have purchased is worth 200.000 USD, if it is located in an area closed to residence permit, unfortunately you will not be able to apply for a residence permit.
Districts closed to residence permit:
A “Valuation Report” issued by an expert must be obtained before the property purchased, indicating that the property is worth more than 200.000 USD. Only the person whose name is written on the title deed can apply for this type of residence permit. If you want to apply for this type of residence permit as a family, the title deed must be issued in the name of two people. (these people must be spouses) In this case, half of the property amount should be paid in the name of one spouse and the other half in the name of the other spouse. Thus, the title deed will be issued as joint ownership in the name of two spouses and each spouse will have ½ right on the property. Applicants childern under the age of 18 can apply for a residence permit under the category of “turistic residence permit”
In order to get a residence permit without any problems, the property you purchase must provide the necessary conditions:
- The value of the property must be at least 200.000 USD
- The property is not located in a closed area for residence permit applications (closed areas are mentioned above)
- The purchase price shown on the title deed must be 200.000 USD and above
- Payment must be made through a bank, no cash payment should be made
- The purchase price shown on the title deed and the amount paid to landlord from the bank must be the same
- The sale price should be sold in foreign currency to the Central Bank and then the landlord should be paid.
- The purchased property must be a residence/house, one cannot apply for this type of residence permit for workplace or land.
Getting a residence permit with a title deed is an effective method that will be finalized in a short time, but there is a possibility that the residence permit application may be rejected if minor mistakes are made. For this reason, before the sale of the property is realized, you should definitely consult with specialist attorneys experienced in this field.