Buying Property in Turkey: Guide to Residency and Citizenship
Turkey is one of the most attractive destinations for real estate investment in the world, combining a rich culture, a fantastic tourist environment, and laws that encourage investment. In this article, we will explore how to purchase property in Turkey and how this can help facilitate your stay and qualify you for Turkish citizenship.
Step 1: Finding the Right Property:
- Research and Analysis:
Before searching for a property in Turkey, study the market and determine your needs and objectives. Look for areas that suit you regarding location, price, and features.
- Dealing with a Real Estate Agent:
Use the services of Al-Hafiz Real Estate Company to help you find the right property. An agent can provide you with options that meet your needs and offer advice on the purchasing process.
Step 2: Buying the Property:
- Property Inspection:
Once you find the right property, scrutinize it and check its legal status, design, and infrastructure.
- Signing the Sale Agreement:
After agreeing on the property, sign the sale contract with the seller, specifying payment terms and a timeline.
- Payment of Purchase Fees and Taxes:
Ensure you pay the purchase fees and applicable taxes in Turkey.
Step 3: Facilitating Your Residency in Turkey:
- Residency Procedures:
Foreign investors can obtain residency in Turkey by purchasing a property valued at $75,000. Apply for a tourist residence first; then, you can apply for real estate residency.
- Benefits of Residency:
Once you have your residency, you can enjoy the benefits of living in Turkey, such as freedom to travel and access to healthcare and education services.
Step 4: Requirements for Obtaining Turkish Citizenship:
- Citizenship Requirements:
Foreign investors can obtain Turkish citizenship if they purchase property valued at $400,000 or more, with the condition that the investor cannot sell the property for three years from the date of the property deed issuance (a fundamental need for obtaining Turkish citizenship), or by depositing $500,000 in a bank for five years.
- Applying:
Submit your application for Turkish citizenship to the Turkish Ministry of Interior and follow the required procedures.
Benefits of Citizenship:
After obtaining Turkish citizenship, you can enjoy all the rights and benefits of Turkish citizens, including visa-free travel to 115 countries and access to social and economic services with the same rights as Turkish citizens.
- Conclusion:
Purchasing property in Turkey is not just a good investment, but it can also be a key to facilitating your stay and qualifying for Turkish citizenship. Carefully follow the above steps and comply with local laws and regulations. With your real estate investment in Turkey, you can benefit from the services of Al-Hafez Real Estate Company to facilitate all steps of obtaining Turkish citizenship through real estate investment.
