Everything You Want About The Investor Residence Permit In Turkiye
Introduction
Certain requirements and paperwork must be submitted in order to be granted an investor resident permit in Turkiye. Imtilak Real Estate can provide detailed information.
What is an investor's residence permit in Turkiye?
Outsiders' right to live legally in Turkey is governed by Turkish Law No. 6458 on Foreigners and International Protection, and as a result, different sorts of residence permits are given to foreigners in Turkiye depending on their intended use for the residence.
According to Articles 31 and 33 of the Turkish Law on Foreigners and International Protection, many types of foreigners who choose to stay longer in Turkey are granted legal residence by the Turkish government.
According to Articles 28 and 29 of the Implementing Regulations of the Law on Foreigners and International Protection, the residence permit given to a foreign investor in Turkiye is subject to the Short Residence Law.
Depending on its category, the short-term residency visa in Turkiye has a validity period of up to two years and is renewable if there is a compelling circumstance. The investor often receives one of two types of residence in Turkiye:
- Residence by investment in real estate
According to Turkish law, this is known as the granting of residence permits to foreigners who own immovable funds in Turkiye. Immovable funds are intended to be real estate, so the foreign investor is eligible for legal residence in the country if he owns a property in Turkiye with a value of at least $75,000 in major Turkish states and $50,000 in small states.
- Foreigners with business connections and plans to launch a business in Turkey are eligible for residence permits.
Turkish law offers a foreigner a renewable residency visa when they create a firm in Turkiye and enter the nation legally and formally. This rule also applies to anyone who take part in pre-existing investments in Turkiye, such as factories, factories, or even capital for Turkish companies.
To whom is the investor residence permit granted in Turkiye?
The investor's residence in Turkey is awarded to two sorts of investors, as per what was stated in the articles of Turkish law relating to the clause of brief residency that is granted to several categories of foreigners, including investors:
1- Investor in fixed assets (immovable funds)
This refers to foreigners who own property in Turkey and are thus entitled to live there legally under Turkish law as a result of their ownership of that property.
2- Foreign Business Founders in Turkiye and Direct Investors
Foreigners who establish businesses in Turkiye or make direct investments in the nation in a number of ways are given a formal resident visa.
Advantages of investor residence permits in Turkiye
The most significant benefits accrue to a foreign investor with Turkish residence are:
1- Each member of his family is given a residency permit (wife and children under the age of 18)
2- Registering kids at Turkish public schools
3 Getting medicine and health insurance in Turkish government hospitals
4- The ability to travel to a variety of nations with Turkish residence, which also makes it easier to get entry visas for many nations.
5- Requirements for Turkiye permanent residency after eight years of continuous residence
Sixth, the potential to get Turkish citizenship after meeting the requirements of the statute giving Turkish citizenship to foreign investors
How to obtain an investor residence permit in Turkiye?
By filing an application to the General Directorate of Immigration prior to the expiration of the permitted period of stay in Turkiye, one may apply for an investor residency visa. A copy of the title deed, the company's tax identification number, and other documents specific to the type of investment are attached as proof of investment within Turkish boundaries.
The paperwork necessary for each form of investment are determined by Turkiye's General Directorate of Immigration since they differ for investments in real estate and those that accompany the foundation of businesses.
Conditions for obtaining investor residence in Turkiye
The following are the most significant legal requirements that must be met for the foreign investor to be able to legally reside in Turkey under the terms of his investment:
- The investment shall not be less than the amount required by Turkish law as the minimum, or, in the event of purchasing real estate in important Turkish states, not less than $75,000.
- The country's investment procedure must be ethical, reliable, and licensed
- All purchases and sells must be completed through authorized bank transfers formally and legally entering Turkiye
Documents required to apply for investor residence permits in Turkiye
The most crucial documents needed when applying for a residence permit for a foreign investor in Turkiye are those connected to the process of applying to obtain an investor residence permit in the country, as well as general and other documents related to the kind of investment in the nation.
- A copy of the passport valid for at least 3 months
- 4 biometric photos
- A copy of the entry stamp
- A copy of the title deed in case of real estate investment
- A "Taşn Nmara" document is obtained from the municipality in which the property is located
- Obtaining a tax number
- Having effective health insurance
- Obtaining an address registered in the Turkish Population Department
Property Experts Real Estate services for real estate investors
Property Experts Real Estate puts its extensive knowledge of the Turkish real estate market to work for its prestigious clients, and it keeps up its momentum after the client makes the acquisition by working to develop a viable real estate investment process.
Property Experts Real Estate delivers its services in an integrated way, through a package that encompasses the stages of the buying process until the customer obtains the residence permit for the investors and his family.
Conclusion
In conclusion, obtaining an investor residence permit in Turkey can provide numerous benefits for those looking to live and invest in the country. With a relatively low investment requirement and a streamlined application process, obtaining an investor residence permit can be an attractive option for foreign investors.