Investor Residence Permit
Residence Permit for Investments and Real Estate in Turkey
One of the most common residence permits in Turkey is granted for the purchase of real estate for commercial or residential purposes. Making such investments gives a foreign citizen an opportunity not only to obtain a residence permit but also to become a Turkish resident. In this case, the terms and conditions depend entirely on the cost of the apartment.
For example, if you invest in a villa in Antalya, you can count on obtainingTurkish citizenship with a minimum package of documents. However, if you purchase nothing less than a boutique hotel, you can move to Turkey with the whole family (with family members becoming subjects of the jurisdiction) and start a hotel business. Sounds good, doesn’t it?
Here are the requirements you will have to meet to qualify for a residence permit by investment in Turkey:
- Invest in trusts, government bonds, and the country’s economy at least $500,000 for a minimum period of 3 years
- Purchase residential/non-residential real estate or land at an estimated value of $400,000 or more, which is evidenced by an extract from the register. You will have to observe the 3-year time limit on the sale and disposal of this property
- Set up a company in any city in Turkey and create at least 50 jobs for local professionals with full social security for 3 years (minimum)
If a foreign citizen has fulfilled at least one condition, he/she can safely apply to the Consulate for a residence permit or citizenship. The only mandatory condition is the documentary evidence of investments:
- Tapu (right of ownership)
- A document from the Ministry of Finance to certify investments from 500,000 dollars
- A document from the Ministry of Labor and Social Security to certify that you have created the required number of jobs
Note: in 2022, you can get a touristic residence permit on the same terms by buying a facility at a price of $75,000 (or $50,000 in small cities). However, the period of stay on the basis of a touristic residence permit in Turkey is not included in the naturalization period (which gives the right to citizenship). According to a general rule, the naturalization period lasts for 5 years, following which the foreigner can apply for a Turkish passport.