As a rule, the reasons for obtaining a Turkish residence permit by a foreigner are as follows: An intermediate stage before changing citizenship. The need for a long stay outside the country of permanent residence. Empowerment in the host country.

In Turkey, a residence permit is called ikamet.

As in many other countries, the legislation of the Republic of Turkey provides for two types of residence permit – temporary [Kısa Dönem İkamet İzni] and permanent [Uzun Dönem İkamet İzni].

Temporary residence permit:

It is possible to obtain a short-term Turkish residence permit [Kısa Dönem Іkamet İznі] in the following cases: tourism;

purchase of real estate;

study of the Turkish language, with training in one of the Turkish educational institutions (with the appropriate permission from the Ministry of Education of the Republic of Turkey);

obtaining education within the framework of international student exchange programs;

treatment within Turkish borders (in the case when the disease does not pose a danger to public health);

labor, business activity;

if there are relatives who are citizens of Turkey;

humanitarian reasons (refugees, victims of violence, etc.).

Permanent Residence Permit

It is possible to obtain a permanent residence permit [Uzun Dönem İkamet İzni] for citizens who have received a short-term one without interruption for at least eight years [Kısa Dönem Іkamet İzni], and for sixty months spent outside the Turkish borders no more than twelve months in general, and no more than six months during each year.

Rights and obligations of foreigners when obtaining a residence permit in Turkey

A residence permit grants a citizen of a foreign state the right to:

compulsory state health insurance policy from SGK;

purchase of a car or other vehicle, obtaining a Turkish driver’s license;

obtain a loan to purchase services, real estate or goods;

children receiving free primary and secondary education in public schools;

reside within Turkish borders;

obliged to pay taxes.

Residence permit for family members
A family residence permit gives the right to reside within Turkish borders to all citizens of other countries who are married to Turkish citizens. Family residence permit also applies to children of such citizens. It also gives the right to receive free education until the age of 18.
Residence permit when buying real estate

The acquisition of real estate by a foreigner in Turkish territory gives the right to obtain a residence permit. In the case of granting a residence permit due to the purchase of real estate by a foreigner in Turkey, its effect also applies to the next of kin of the property owner (child, husband/wife, father/mother).

Residence permit for pensioners

It is possible to obtain a residence permit for a foreign senior citizen in Turkey on general grounds established by law, but obtaining a temporary residence permit will have one peculiarity. To the general list of documents that are presented for obtaining a residence permit, it will be necessary to attach a certificate from the Turkish Pension Fund, which indicates the payment of a pension.

List of documents for processing a request for a short-term [Kısa Dönem Іkamet İznі] residence permit in Turkey.

a rental agreement, or a certificate of ownership of real estate (TAPU), certified by a notary; a document confirming that a foreign citizen and, if necessary, his family members have the minimum amount for living in Turkey (minimum from 500 USD per month per person);

passport, as well as its copy certified by a notary;

4 photographs (when obtaining a family residence permit – for each of the family members);

for an application for a residence permit for children – a certificate of their birth;

for an application for a residence permit for a spouse – a marriage certificate;

completed application form on the website of the General Directorate for Migration of Turkey [1] [Göç İdaresi Genel Müdürlüğü].

Is insurance required for a residence permit in Turkey?
Registration of insurance for a residence permit (permit) in Turkey is regulated by the Law on Aliens and International Protection No. 6458 of April 11, 2013 and the information of the General Directorate of Migration of Turkey Göç İdaresi Genel Müdürlüğü

For persons with a temporary residence permit issued for a period shorter than twelve months, it is not necessary to have health insurance.
Insurance from a private Turkish company
To obtain a residence permit, only an insurance policy issued by a Turkish company is suitable. As a rule, such insurance covers 40-60% of the cost of outpatient treatment, and 40-100% of inpatient care, but only in clinics that have entered into an agreement with the insurance company that issued the policy. Insurance from local companies almost never covers dental procedures.
Main purpose

What should you look for when buying land?
Buyers from abroad should understand that not every land plot allows you to easily build a house on it. In the Republic of Turkey, as well as in other developed countries, all land is divided into several types and depends on the legal rules regarding its use.

I will give the main categories of land plots according to their purpose:

ARSA or building land
These are land plots on which a foreign owner can build a house, instead of buying a finished home. According to the law, citizens from abroad can purchase land in Turkey for the construction of residential and commercial premises with an area of ​​up to 3 hectares.

All land for construction in the Republic of Turkey is included in the zoning plan of the settlement; in the state register, each site has a cadastral number. I will add that according to the urban zoning plan, such facilities either already have the necessary infrastructure, or in the future it can be carried out.

And one more important point: plots for construction, in turn, are divided into land for commercial and private development. This means that in the first case you will be able to build only hotels, offices, shops or other commercial facility on them, and in the second – a house, cottage or villa. The exact purpose of the land plot will be written in the TAPU (land ownership certificate). So, for plots for the construction of residential premises, the purpose of “Konut imarli arsa” is indicated. For plots for commercial use, the mark “Ticari imarlı arsa” is put.

TARLA or land for farming
Agricultural plots are used for the needs of agriculture (animal husbandry, pastures, growing olive, banana, orange plantations, other fruits and vegetables, cotton, cereals, etc.). Their cost is significantly lower than building land. Every foreign citizen has the right to become the owner of land with an area of ​​up to 30 hectares. It is most profitable to use plots for agriculture for their intended purpose. Why? Let’s talk about this further.

Foreigners are prohibited from buying publicly owned land plots. Basically, these are areas where there are any minerals, forest, pasture, beaches, etc. I will add that such allotments are not subject to sale by the Turks themselves. However, land owned by the state can be leased out on a long-term basis.

Foreigners cannot buy or lease strategically important areas (on the border of the country, on the territory of military bases, national parks, etc.). In particular, Ukrainians and Russians will not be able to acquire land on the Black Sea coast, and Greeks – on the shores of the Mediterranean and Aegean Seas.

How to buy a land plot in Turkey for a foreigner?

The process of buying a land plot in Turkey is a rather difficult task that requires a rational approach. Before such an acquisition, you need to clearly understand why the land is being bought, since each allotment has a specific purpose, which is quite difficult to change. Let us consider in more detail whether a foreigner can buy land in Turkey and what nuances should be paid attention to.

According to Turkish law, foreign residents have the right to purchase not only apartments, but also land plots. It can be like land for individual construction of your own private house or for the construction of a commercial facility. However, when carrying out such a transaction, it is necessary to take into account the many nuances of the legislation of the Republic of Turkey and all the nuances of registering a land plot in ownership.

What should foreign citizens consider when buying land in Turkey?

The percentage of land sales in Turkey to foreigners should not exceed 10% of the total area of ​​the area where the land is purchased. In this case, a foreigner can buy no more than 30 hectares.
The land plot is entered into the unified state register of the department of cadastral management and urban zoning before the sale.
Registration of ownership of a land plot is carried out under the control of the Committee for Geodesy, Cartography and State Cadastre. The exact coordinates of the plot are established and the zoning status of the allotment is determined.
When buying land worth over $ 250,000, it allows a foreign citizen to obtain Turkish citizenship. If the amount is below this level, the resident receives a residence permit.

In order to buy a land plot in Turkey, a foreigner needs to go through the following steps:

Get a certificate with an estimate of the value of the land plot. It is taken from the branch of the local municipality.
Submit documents and receive a certificate, which is assigned a separate number, by which you can track the progress of the appeal.
The time of the transaction is set in the Cadastral Department. This information comes via SMS. The amount of the state duty, which should be paid, is also indicated.
The final stage is actually obtaining a TAPU (certificate confirming the ownership of the object).

What are the types of land plots in the Republic of Turkey?

1. Building plots (IMARLI ARSA). These plots are included in the urban zoning plan and are included in the register of the state land cadastre. In accordance with their purpose, they are divided into:

for the construction of residential buildings. They can be used to build residential complexes, villas or cottage complexes;
for the construction of non-residential real estate. Commercial plots include those on which you can build a hotel, restaurant, beauty salons or medical centers, retail and office premises and others.
In the certificate of ownership (TAPU) for real estate, the intended purpose is indicated. Private houses cannot be built on commercial plots, and vice versa – the construction of commercial objects is prohibited on residential plots.

2. Agricultural land (TARLA). Residential or commercial structures cannot be erected on these plots. The allotments are used exclusively for agricultural activities (from livestock and poultry farming to the cultivation of certain crops). Both individuals and legal entities can register such land.

3. State lands. They are not for sale because they are state or municipal property. Only long term rent is possible.

Prices for land and plots

The cost of land in Turkey, like property prices, will differ significantly based on factors such as:

location (region, city, district);
the purpose of the site (land for agriculture is naturally much cheaper than for construction);
future prospects and other characteristics.

The cheapest land plots in Turkey are located in remote provinces and regions. On the coast, in big cities and resort centers, land is more expensive. If panoramas to the sea open up from the site, this significantly increases the price, sometimes doubles. Of course, less and less free land remains on the first coastline, so the cost of such land is high, as is the demand from small and large investors. Some real estate agencies offer buyers ready-made promising investment projects complete with all permits obtained.

To choose the right land plot in Turkey, I recommend contacting qualified licensed real estate agencies. The company’s specialists will be able to select the land purely for your individual needs – purpose, area, location, cost and other characteristics.

On average, land in Alanya for construction with all permits, for example, in the popular Kargicak area is about € 40,000 – 60,000 euros per 500 sq.m. In the central part of Alanya, a similar plot will cost at least € 100,000.

Tips for foreigners buying land

Based on many years of practical experience in selling Turkish real estate, I recommend:

Do not search for land plots in Turkey on your own on the Internet. You will lose your precious time, instead of quickly and simply doing it with a real estate agency.
If you have found the most suitable site for your requests, made sure that all the documents are in order, promptly conclude a deal. The main reason is the rather high demand for good land. It is also worth taking care of the preliminary transfer of funds from your country, as this takes time.
Many land owners inflate the price of plots, therefore, to obtain reliable information on its value, contact only trusted real estate agencies, where the interests of the buyer are always in the first place.
After purchasing a land plot in Turkey, there is no need to immediately start construction work, and this is a big plus. Land in a good location is a wonderful asset, the prices of which are constantly rising.
It is profitable to buy land for rent (if any residential object / objects have already been built on it) – this is a project with a long payback period and stable profit, therefore it is suitable for those who already have certain financial savings. Land plots are also interesting from the point of view of resale at a higher value, as a quick investment that does not require additional costs on your part.
If you want to build a home for the whole family, plots of about 500 square meters are suitable. Land for the construction of hotels, villas and other facilities requires a larger area – about two or more hectares.

And one more important recommendation: it is worth working with one trusted real estate agency, since the more agents you contact, the more you will need to pay them for their services.

If you are interested in buying quality real estate in Alanya, contact the licensed agency FIRST ALANYA – as soon as possible, we will select any objects for your individual requests.

Today, it is in Turkey that foreign citizens can buy liquid real estate at an affordable price, which will have a good return on investment with the right approach to choosing an object.

Every year the number of those wishing to become the owner of their home in Turkey is increasing, and in particular, cities such as Antalya, Alanya, Istanbul and others are leading in terms of the number of houses sold to foreigners.

Why the Turkish Republic? The advantage of buying apartments in this sunny country is considered to be a visa-free regime with many friendly countries, which means that not only the owner, but also his family, relatives, acquaintances will be able to come to the resort at any time of the year.

The second positive factor is the actively developing economy of the country, where the government is constantly introducing new measures to expand it and improve the living standards of the population. A favorable climate, good ecology, inexpensive food, textiles, utilities – all these are the advantages of living in Turkey.

Investors are attracted by the cost of Turkish real estate: prices are an order of magnitude lower than for similar properties in other European countries with access to the sea, and even in the CIS countries.

In addition, the generally accepted practice of recent years allows you to receive income from investing in real estate from the developer. Developers in every possible way attract buyers from abroad, offering favorable terms of cooperation, including investment at the zero stage of construction.

Thus, buying a home during the construction phase makes it possible to save up to 30% of the cost, compared to purchasing a finished object.
By renting out an apartment, the owner can receive a stable income and at the same time also come on vacation several times a year to his own home. In order for a rental business to be as profitable as possible, several factors must be taken into account, which we will talk about in our article.

Apartment rental income in Turkey – benefits
Regardless of changes in the foreign exchange market, exchange rate fluctuations, the price of renting real estate abroad continues to grow. What are the benefits of a tenant by renting out a home?

Where to buy an apartment in Turkey to generate income?
Each of the regions of the Republic of Turkey has a number of advantages for a particular type of business. As for investments in the real estate market, here it is worth paying attention to those cities where the largest flow of tourists is noted throughout the year.

Of course, such cities are resort towns located along the entire coast of the Mediterranean and Aegean Seas. First of all, the buyer will be interested and profitable in the real estate market in the resort of Antalya, as well as in Alanya and its regions – Avsallar, Mahmutlar, Oba, Cikcilli, Tosmur and others. There is a systematic growth in the popularity of the sale and rental of real estate among foreign citizens from Europe and the CIS countries, as well as the constant development and construction of new infrastructure, the discovery of cultural, historical and natural attractions, which guarantees a good income for the landlord.

Renting an apartment in Turkey – how to make money?
Where to buy an apartment abroad to receive rental income? This is the question that many foreigners ask themselves when looking for a suitable option for themselves.

As we have already found out, the Republic of Turkey is one of the most favorable resort countries for this kind of real estate investment. However, there are several nuances with regards to the rental of Turkish housing that every owner and buyer should know about.

There are three types of property rentals in Alanya and Turkey: short-term, long-term, guaranteed.

Short term rental housing in Alanya
In 2017, the Turkish government made significant changes to the legislative rules before renting real estate. Thus, individuals no longer have the right to rent apartments in Turkey. Only legal entities with a license for this type of activity can use the right of short-term lease, while fulfilling a number of conditions:

The owner must manage the building or part of it. The total number of sleeping places (beds) must be at least 30. That is, a legal entity, in fact, must own the hotel.
The hotel provides round-the-clock security and video surveillance, as well as a fire escape without fail and other similar conditions.
The legal entity undertakes to register with the police and register tenants in a special registration system. Every day, data about each of the guests, including children, is sent to the police station.
If these conditions are not met, the government provides for rather large fines (for the first offense), as well as deportation in case of non-payment and even, in case of malicious non-compliance with the requirements, criminal liability.

In fact, such short-term lease obligations are absolutely unacceptable for the average owner of one or two apartments in Turkey.

The reason for this strict innovation on the part of the Turkish authorities, which are very loyal to foreign buyers of real estate and constantly simplify the process of acquiring and registering property, is the desire to maintain order and security in the state, in particular in all areas related to the possibility of the spread of terrorism.

However, foreign nationals looking to generate income from real estate in Turkey can take advantage of two other ways.

Long term rental
If you are the owner of one or more residential properties in Turkey, be it an apartment or a villa, you can conclude a long-term lease agreement, the period of which cannot be less than six months. To legalize this process, you will need to notarize the contract, as well as register the tenant with the Civil Status Office (or Nüfus Müdürlüğü) of the Ministry of the Interior. This registration option does not require payment and takes literally 10-20 minutes. If the resident is not a resident of Turkey, you will need to provide his TIN of a foreign citizen, which is issued only to those who have been living in the Republic of Turkey for more than six months with a residence permit.

The calculation of the return on investment in real estate in Turkey from renting in this option will depend on how correctly you have chosen its location, infrastructure, equipment, quality of interior decoration, furniture, equipment, species characteristics. The profit can be about 5-12% per year.

The disadvantage of such a legal way to make money from renting apartments in Alanya Turkey can be considered the limitation of opportunities for your own vacation in your apartment, since it is quite difficult to find a tenant with the required lease terms.

Guaranteed rental

Guaranteed rental of real estate in Alanya is one of the most profitable options for resolving the issue of making a profit from your property abroad. In fact, this is the initial purchase of an apartment as an investment, when the new owner leases it out with the help of a management company.

Often, such management companies are real estate agencies, construction companies that take care of all the maintenance of housing, paying for utilities, preparing for the arrival of guests, finding tenants and other necessary nuances.

Therefore, the professional staff of the agency FIRST ALANYA will help to make the best choice of an object with such characteristics that would have a high return on the apartment when renting out in the future.

All that is required from a new owner wishing to use the guaranteed rental service is to sign an agreement with the agency FIRST ALANYA, which will indicate a fixed amount of income that he will receive every year.

An additional and important bonus of such cooperation is the opportunity to relax in your own apartment for free, which will need to be discussed with the company in advance.

As a result, a guaranteed rental has several main advantages:

permanent income, the amount of which is strictly fixed in the signed agreement;
no need to look for tenants on your own and take part in the arrangement of the apartment, eliminate shortcomings and other current problems;
the opportunity to relax in Turkey in your own home.

Also, property owners pay a state duty every year in the amount of 0.02% to 0.06% of the value, which depends on the type of real estate: residential, commercial, land plots with or without a building permit. If we consider residential real estate in the primary or secondary market, the annual tax is 0.02%. The so-called “kültür payı” or cultural contribution is automatically included in the annual property tax. As a rule, this fee is paid twice a year, dividing the entire amount into two equal parts.In general, it is worth noting that taxes in the Republic of Turkey are not high. Every year, the government introduces many useful amendments designed to further simplify taxation, make it as accessible and transparent as possible.

How do I pay taxes?
The tax percentage is calculated based on the cadastral value of the apartment. Today there is a new law on the sale of real estate in Turkey, according to which a special body evaluates housing. This amount is displayed in the TAPU and it is from it that the tax is paid. In general, such an assessment (cadastral value) will in fact be lower than the market value.

Payment is made twice a year at the district municipality. The first payment – until May, the second – until November, or you can transfer the entire amount at once. You need to take a TAPU (title deed) with you and already on the spot the employee will give you a form to fill out and pay. For example, in Alanya, tax payment can be made online on the website of the city municipality. To do this, you will need to go to Beledia and get a special password. This option is convenient for those who do not know Turkish.

Property rental tax

The resulting rental income in Turkey is tax deductible. It depends on the total profit. Individual income tax in Turkey for a legal entity always corresponds to 22% of the income received. Of course, there are cases when landlords negotiate with tenants and pay cash in order to avoid income. Nevertheless, it is worth knowing that every year control over illegal activities by the state is increasing and it will be more and more difficult to resolve such issues in this way.
If the profit of a private owner from renting does not exceed 4800 liras (about 730 €), then this fee may not be charged. For commercial properties, the tax-free limit is TL 30,000 (approximately € 4600).

Tax on income from the sale of real estate
Turkey has a tax on income from the sale of real estate. For a legal entity, such payment is 22% of the received net profit. A private seller may not pay this fee if he has owned Turkish property for more than five years. However, a property purchase tax of four percent is payable by the buyer in any case, regardless of the length of the ownership.
If the house is sold before the five-year period of use, tax is provided on the amount that is the difference between the purchase price, based on the TAPU and the new valuation, which will be indicated in the next certificate of ownership.
If the profit is not more than 11,000 liras (about 1,700 euros), then the fee is not expected. It should be noted that in the process of buying / selling housing in Turkey, many clients turn to specialized agencies. In this case, the Power does not provide for fixed rates as a reward for the assistance provided. That is, all the nuances are solved individually in the process of communication. In some cases, bargaining is appropriate.

The policy of construction companies is such that the cost of square meters in a new building increases along with the floors of the new building. The same living space at the excavation stage can cost 30% less than after putting the house into operation. This opens up broad prospects in terms of earning income, for example, an apartment after completion of construction can be profitably resold or rented out.

Stages of construction of a new building in Turkey:

Selection and purchase of a land plot for the construction of a residential complex.
Topographic survey and geological expertise.
Drafting a project for the construction of a house.
Obtaining a building permit.
Preparation of the building site.
Branch of engineering networks.
Construction of a building according to the project.
Putting the building into operation.
Improvement of the territory around the residential complex.
The developer, by law, has the right to start the sale of apartments, immediately after he receives a permit for the construction of a new building. After receiving this permission, the site is surrounded by a fence and a foundation pit begins to be dug. The acquisition of real estate at this stage is called “purchase at the zero construction cycle” or “purchase at the stage of the excavation.” Construction companies, thanks to the use of new computer technologies and 3D graphics, already at this stage can show how the apartments will look.

Pricing in each individual complex is different. The basic factors for all developers in the price structure are the cost of building materials and construction and installation work.

What are the benefits of buying a property from a developer?
While many people choose to purchase an apartment after construction is complete, those who choose to purchase early on a property will in many cases benefit significantly from their choice. Among them:

Low cost per square meter. The cost of an apartment at the beginning of the construction of the residential complex will be 20-30% lower than after the completion of all work and the commissioning of the building.
Wide range of apartments. Clients who buy real estate at the excavation stage have the privilege of being one of the first to study the offer from the developer and choose an apartment of suitable size and layout from a variety of options. Customers at the stage of building a house can agree with the developer on changes in the project, for example, the transfer of partitions, the arrangement of rooms or the choice of finishing elements. Buyers can also choose the floor they would like to live on, and even the view from the windows.
High speed of construction and commissioning of the facility. Developers in Turkey invest exclusively their own funds in the construction of the residential complex, so they are interested in completing the construction as soon as possible and returning their investments. On average, the construction of a multi-storey residential complex in Turkey from the project stage to delivery takes only 1-2 years.
Excellent quality building materials. Developers in the construction of buildings, from the stage of laying the foundation to finishing the apartments, use high-quality building materials with the use of modern technologies.
Improvement of the territory and creation of the necessary infrastructure. New residential complexes from Turkish construction companies offer everything you need for a comfortable stay: swimming pools, play areas for children, gyms, spa complexes, saunas, hammams, 24-hour security and video surveillance, parking.
Convenient payment system. When investing in real estate, you must pay part of the cost at once, for the rest you can get an installment plan or take out a loan. Most of the construction companies in Turkey provide their buyers with interest-free installments. As for mortgage lending, Turkey has one of the lowest rates for foreigners – 6-8% in dollars and euros.
It should also be noted that Turkish law protects the rights of the buyers themselves. If a buyer buys a home at the stage of building a building, a TAPU is issued for it in the Cadastral Committee. The certificate is a guarantee that the buyer becomes the owner of the living space.

In addition, before the start of construction, Turkish developers set deadlines for all intermediate stages – pouring the foundation, erecting floors, installing the roof, laying out communication networks, carrying out interior finishing work and external finishing of the facade. Each of these stages is monitored and verified by the state commission. For non-compliance with the specified deadlines, the construction company is promised considerable fines.

How to buy real estate at the excavation stage safely?

In order to buy an apartment in Turkey at the excavation stage and at the same time to protect yourself, you should contact a reliable real estate agency. With the help of a specialist, you can bypass all the pitfalls of buying a home at the earliest stage of construction and stay at affordable and at the same time comfortable housing.

The licensed real estate agency FIRST ALANYA has been working with the best developers in Turkey for many years.

The company provides a full range of services, ranging from the selection of an option and ending with the support of the procedure for drawing up an agreement. We will promptly offer you the most reliable investment options based on your requests and capabilities, taking into account the reputation of the construction organization.

After sales services include:

consultations on various issues of interest to you;
furnishing of housing and installation of household appliances;
purchase of other necessary goods for the home;
individual design and decoration of apartments;
real estate insurance;
payment of the annual property tax;
payment of utility bills;
transfer from Antalya airport to the place of your purchased property;
renting or purchasing a car;
organization of excursions and tours;
assistance in buying air tickets;
renting out or selling the property you have purchased;
assistance in organizing house cleaning;
informing about the condition of your real estate during your absence;
services for redevelopment and renovation of your property.

FIRST ALANYA after-sales service benefits

After purchasing an apartment or private home ownership in Turkey, you will want to move in and enjoy your vacation as soon as possible. But you will not be able to get maximum pleasure from this right away, because you still need to equip your new home and buy the necessary furniture and equipment, the desired interior items and everything else. All this can be done independently, a little later, but then you will need at least a minimal knowledge of Turkish or English, and not ordinary, colloquial words and phrases, but highly specialized ones. Sellers will have to explain their wishes, point out the points that do not suit: the color of the upholstery, shade of the armrests, etc. Many will need an assistant for this, but this is on condition that there is an opportunity to come on their own and go shopping with him. And if there is no such possibility? And if you want to immediately come to your new home and calmly enjoy your vacation? In such, as well as in other similar situations, our company FIRST ALANYA is ready to provide all the necessary assistance in arranging the property you have purchased in strict accordance with your wishes, as well as in managing an apartment / house during your absence.

We have already helped many of our customers, most of whom have become our regular customers and partners. We are also actively expanding the list of services provided to fully satisfy all your wishes. Join our clients and entrust us with the care of your property in sunny Turkey!

A mortgage loan is an excellent opportunity to purchase real estate, even if you do not have the entire required amount on hand. The Turkish government has taken steps to support the real estate sector, in particular, providing a convenient option for buying a home on favorable terms. Now in Turkey you can buy real estate on mortgage terms with a reduced interest rate.

A mortgage loan for real estate in Turkey and its issuance by the country’s banks since 2007 is regulated at the legislative level. The service is available not only to Turkish citizens, but also to foreigners. A mortgage is a type of lending where the property being purchased becomes a collateral for the transaction until the loan is fully repaid.

After the opportunity to obtain a mortgage appeared in the Republic of Turkey, the demand for housing increased significantly. In particular, foreign citizens received an additional opportunity to purchase expensive real estate. Loan funds are issued not only for finished objects, but also for those under construction, so it will not be difficult for the buyer to choose the most optimal option for himself in terms of price, location, area, content.

What are the conditions for a mortgage in Turkey for foreigners?

Mortgage lending conditions for foreigners in Turkey differ from bank to bank.

Here is some of them:

There is no limit on the amount of the loan.
Interest rates in Turkish banks for mortgage loans are in the range of 5.5 – 9% in dollars or euros, 14% in Turkish lira, which is quite advantageous compared to many countries in Europe and the CIS. To date, banks lend only in lira, except for Kuveyt Turk. You can get detailed information by contacting our company NESTIN PROPERTY.
Loan term – from 1 to 15 years.
The loan rate is fixed for the entire maturity.
The down payment is approximately 40-60% of the appraised housing price.
The minimum loan amount is 10,000 euros, the maximum should not exceed 50% of the real estate appraisal.
The age of the borrowed foreigners is from 21 to 65 years old (meaning that the borrower should be no more than 65 years old on the date of completion of the loan payment).
The amount of the monthly payment cannot exceed 40-50% of the declared income of a foreign citizen.
In case of early repayment of a mortgage loan in Turkey, a penalty is provided in the amount of about 2% of the remaining amount.
The bank carries out an expert appraisal of real estate for which the client pays. As a rule, the amount of the assessment does not exceed 150 euros.
The cost of obtaining a mortgage loan in Turkey is about 2%, in addition to the cost of an expert assessment and an insurance policy against earthquakes DASK.
After submitting an application to the bank and a positive response, the offer remains valid for the client for 4 months (no more). If the buyer does not use the lending service during this period, he will have to go through the entire procedure for registration, including costs, anew.

Stages of registration of a mortgage and the documents required for this

To buy an apartment in Turkey on a mortgage
You will need to collect a package of documents, which includes:

A copy of the passport, certified by a notary office.
A copy of the certificate of ownership of the property (TAPU), which will be used for the sale and purchase agreement.
Certificate from the employer about the received wages.
Information about receipts to a bank account for the last three months.
Credit history from the bank.
Papers confirming the ownership of real estate in your state.
All listed documents must be translated into Turkish and certified by a notary office. Application forms filled in at the bank are attached in duplicate. At its discretion, the bank may require additional documents.

How to get a mortgage in Turkey?

The buyer has to go through several main stages:

Choose real estate in Turkey on credit.
Deal with the conditions offered by Turkish banks and choose the most suitable lending for yourself, collect the necessary package of documents. It is important to understand that the conditions for obtaining credit funds will differ in different institutions, so it is worthwhile to study this issue in detail and in advance.
Obtaining an individual tax number at the tax office at the location of the property.
After agreeing on all the conditions with the banking organization, the buyer fills out an application, thereby starting the registration process.
Appraisal of an apartment bought on credit. This is a paid service for which a specialist from the bank is invited to the facility. The entire process of assessing and issuing a document on the results of work takes about three to five working days.
After the application is approved by the bank and the letter of guarantee is issued, the client must make an initial payment for the property, pay the registration fee and sign the loan agreement. Also, at this stage, loans are issued for the purchase of property (as a rule, the money goes directly to the seller’s account).
The real estate acquired on credit is registered to the new owner, while the mortgage encumbrance for the loan repayment period is recorded in the TAPU. The buyer has to go through several main stages.

The Turkish state is not interested in where you got such a large amount of money to buy an apartment or villa. They will not ask for documents to prove your income. It is important to know that payment for housing and registration of its ownership must be carried out on the same day. You submit a paid invoice for real estate to the Cadastral Office, and after that you are given a TAPU – a document confirming your ownership.

How do you usually pay for real estate?

Bank transfer
Instant money transfer systems
Cash payment

International bank transfer. It’s called SWIFT. It is carried out through the bank’s cash desk, some banks provide this service in Internet banking. To make such a transfer, you need to indicate the bank details of the recipient (seller): his account number, full name, Iban code, bank details. If you are a client of the bank from which you are making the transfer, then you can immediately transfer satisfied large amounts, tens of thousands of dollars or euros. Our clients have repeatedly transferred one-time up to 150 thousand in foreign currency. If you are not a client of the sender’s bank, then the maximum amount for sending is limited, in different banks in different ways, but exactly up to 10 thousand in foreign currency. A prerequisite for sending a Swift transfer is to indicate the purpose of the payment. To do this, you will need to provide your contract of purchase and sale for the apartment, the payment for which you want to transfer. The size of the commission for sending in different banks varies and depends on the number of intermediary banks through which the bank transfer will pass. Only the bank itself will give you accurate information about the commission, usually this amount does not exceed 3%. The term of the operation from the moment of sending to the moment of receiving the money is up to 5 working days.

Pros of bank transfer:

– relatively low commission

-Ability to send large amounts one time

Minuses:

– long terms for receiving funds

– many banks find fault with every letter in the contract and demand to remake it

– the bank may refuse to carry out the transfer without specifying the reasons

– sometimes the transfer does not go through and is returned to the sender, and the bank has the right not to indicate the reasons for canceling the operation. And the money is not sent and the commission is charged.

– if during the transfer an error was made in the recipient’s data and it did not go through, or if the bank itself for some reason did not pass the transfer, then the refund also takes several working days.

Instant money transfer systems.

Their mass, Western Union, Uni Stream, Money Gram, Golden Crown, and many others. To send such a transfer, you just need to come to the point of departure (you can find addresses on the official websites) or use a mobile application (for many of the listed systems they have already been developed), specify the Recipient’s Data (Name, surname, phone number, city and country of departure, sometimes data passport) and the amount of the transfer. Money transfers of this kind are carried out almost instantly, within a day at most. But the commission is higher than that of a bank transfer, for different systems from 2 to 5 percent of the transfer amount. The transfer amount is limited. For the same Western Union – this is no more than 4 thousand in foreign currency one-time, and this is the limit for sending from one person within a whole month! More convenient in terms of limits and size of commission are the golden crown, intel express …

Pros:

– instant send and receive

– there is no need to confirm the purpose of the payment

– convenience of sending

– the received funds are received by the Seller in cash

Minuses:

– higher commission

– restrictions on the amount of sending and receiving

Cash payment.

The more you can pay in cash, the less you overpay for sending funds. When paying in cash, you will definitely receive a receipt, confirmation of payment, because it is absolutely safe. You can bring funds with you and declare them, you can bring with you the maximum allowed amount that is not subject to declaration, you can even send funds with your relatives or friends who go on vacation to our city, we will help you meet them, collect payment and we will provide them with a receipt of receipt of funds.

Pros:

-no commission for sending

-easy to transfer

Minuses:

– it is not always possible to come and bring money in person or transfer

– it is not always possible to declare funds, and the amount may exceed the maximum allowed for carriage without a declaration

The nuances of buying real estate in Turkey by foreigners
First of all, it is important to note that since 2006, buying real estate in Turkey has become available to foreign citizens. Since that time, investors from any country have the opportunity to buy housing in this attractive country from different points of view. However, there are some points in making deals.

The law stipulates that individuals can conclude sales contracts, but only in general in Turkey they can own no more than 2.5 hectares of real estate. When registering documents in the land register, a foreigner indicates that he does not exceed the declared threshold. Otherwise, he needs to get rid of the surplus by selling them, and the money will be transferred to his account.

In addition, foreigners are not allowed to buy absolutely all real estate. For example, they can easily buy apartments with sea views in Turkey. You can buy offices or hotels, factories and other options, designed as a “workplace ;. That is, when buying, you need a certificate of what the real estate can be used for. Foreign buyers are allowed to purchase residential or commercial properties.

There is another point in Turkish law that foreigners need to know about. There is the so-called “principle of reciprocity”. The point is that they are ready to provide citizens of other countries with the same rights that the Turks have in their homeland. For example, guests from some countries will be able to buy land plots. And all because those countries are ready to provide the same opportunities to the visiting Turks.Buying an apartment in Turkey – what the buyer needs to know
Of course, buying a home abroad, in European countries and in Turkey, has a number of distinctive features in comparison with a similar procedure at home. To begin with, the applicant must make sure that he has the right to purchase, select apartments that satisfy his needs and choose the best option for himself. In addition to searching, experts in this field recommend that you independently figure out what the registration process is like, how much maintenance will cost, the amount of utility bills, etc.

Buying Turkish property by foreigners and Turkish law
In 2012, the Turkish government made significant changes to the legislation and noted the “principle of reciprocity” that has been in force for many years. According to this law, only those foreigners could buy real estate in the state, in whose homeland Turkish citizens received similar rights. The amendments made allowed citizens of 129 countries of the world to buy square meters in Turkey. The list of countries includes, in particular, Azerbaijan, Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan. Russians, Ukrainians, Belarusians also have the right to become the legal owners of land plots, Turkish apartments and houses. The transaction can be executed for an individual and a legal entity (subject to its registration in the territory of the Republic).
Citizens of the Russian Federation and Ukraine have some restrictions before the acquisition of property, associated with the specifics of the territorial location of the countries. Thus, Russians and Ukrainians cannot buy real estate on the Black Sea coast. For all foreign buyers, there is a restriction on the acquisition of land plots – no more than 30 hectares.
The Turkish government has a very loyal policy regarding buyers from abroad, which is associated with the need for foreign capital injections into the country’s economy.
Every year, simplified schemes for concluding purchase agreements are developed, and the process of obtaining a residence permit and citizenship by investment is accelerated. For example, from 2018, every foreign owner who buys apartments in Turkey for an amount of USD 250,000 or more can become an applicant for a Turkish passport.However, the acquisition of real estate property is not only a holiday by the sea and a great prospect for the future, but also a number of responsibilities that are assigned to the owner.
The responsibilities of an overseas Turkish property owner include:
Payment of the annual tax on real estate ownership (the duty is valid for all residents of the country, regardless of citizenship).
Utility bills (for water meters, electricity, gas, maintenance of the common area – aydat).
It is important for foreign buyers to know that under Turkish law, individuals are not allowed to rent out their property for short-term rent.

The main stages of buying real estate in Turkey
The process of buying an apartment in Turkey involves several main stages:
Signing a purchase and sale contract
Collection and preparation of all necessary papers
Payment for real estate
Re-registration of ownership
Registration / re-registration of subscribers for the provision of utilities
Let’s get acquainted with each of the stages in more detail.

Conclusion of a contract between the buyer and the seller

Payment

There are many advantages to obtaining Turkish citizenship. So, in Turkey dual citizenship is allowed, that is, those wishing to obtain a Turkish passport may not give up the passport of their country. Provided, of course, that dual citizenship is permitted in your country. All procedures for obtaining Turkish citizenship are confidential, so the Turkish authorities do not provide any information to any international organization. Turkish citizens will be able to visit more than a hundred countries of the world without a visa. Turkey has recently been establishing and strengthening international relations, and the number of visa-free countries for Turkey is constantly growing. Also, Turkish citizenship gives full rights to work in any industry, without any restrictions. A foreigner with a Turkish passport will be able to work, invest, open a business on the same conditions as other Turkish citizens. Foreigners who have received citizenship also receive state health insurance, which is also very important, because it gives the right to free and preferential services. Recently, Turkey has raised the quality of its medicine very highly; people from all countries of the world come to the republic for treatment. If there is an opportunity to purchase several objects, then this can also become a profitable source of passive income. For example, you can live in one apartment and rent another one. For a Turkish citizen, it is very convenient to do this, you can not work at all, renting out housing not only for long-term, but also for short-term rent. For example, cities such as Alanya, Antalya, these are resort towns, where you can always rent real estate, at any time of the year it will be in demand.

How long does the process of obtaining citizenship take?

From our experience, this is only 2-3 months. During this time, all documents are drawn up and the foreigner receives a Turkish passport. At the same time, there are no failures, there was not a single one from our practice, all cases were resolved positively.

Ability to travel without a visa to other countries
Having a Turkish passport, you can travel to different countries of the world without the need to obtain a visa and spend additional time and money on it. At the moment, the Turks have the right to visa-free entry to the territory of more than 100 countries in Asia, East, Oceania, Africa, Europe, the Caribbean. For example, go on vacation to the Bahamas or the Dominican Republic, visit Mexico, Panama, Argentina, Serbia, Montenegro, Macedonia and many other powers.

Turkish citizens can enter three states even with their national passports – Ukraine, Georgia and Northern Cyprus. In some countries, a visa can be issued upon arrival and stay in their territory for 20 to 90 days.

Of course, such prospects will delight all travel lovers and those who often travel abroad on business trips.

Citizenship is obtained by the whole family of the investor
A Turkish passport for investment is issued not only to the owner of a home in Turkey, but also to his immediate family – spouse, children under 18, as well as parents, if they are dependent on the investor.

It is worth knowing that citizenship has no statute of limitations, applies to all family members and is passed on to future generations.

After purchasing an apartment and obtaining a residence permit for the whole family, you can start filing an application for citizenship. Documents are submitted in a single package – for the investor and his close relatives. At the same time, you do not need to reside in the country permanently (or most of the time) both before and after the issuance of a passport.

Chance of getting an American visa
Citizenship in Turkey by investment is interesting in terms of a quick and legal move to the United States of America on a business visa.

The whole process of obtaining a Turkish passport takes approximately three months. After that, you can get a passport and a business visa to the United States under the E2 program, which makes it possible to reside permanently and work in the United States, investing your savings in any business – both in a new project and in an existing one. The gradual increase in the amount of capital investment to $ 900,000 allows you to qualify for a green-card and job creation in the United States.

The E2 visa has a number of advantages, including: quick processing of the application, no tax burdens and additional obligations, a relatively low threshold of required investments.

It is important to know that only a few countries have agreements with the United States on privileged relations on an E2 business visa – Turkey, Jordan, Grenada, Montenegro, Moldova. In this list, the Republic of Turkey is one of the most attractive and promising countries, in particular, with regard to the size of investments and the conditions for obtaining a “golden passport”.

If you want to immigrate to the United States through obtaining a Turkish passport for real estate investments, you should think about it now. Since conditions can change, depending on the geopolitical situation in the world.

Investor can move to UK with Turkish passport
What else does a Turkish passport give? A significant advantage of Turkish citizenship is the ability to obtain a business visa and move to the UK to work. A visa contract between Ankara and the United Kingdom allows a Turkish national to issue a visa for a period of one year. It is possible to renew the work permit for three years and this applies to both the applicant himself and his family members.

The UK business visa program has several advantages:

After issuing a Turkish passport for investment, the depositor is able to submit an application to open his own business in the United Kingdom on a Turkish Businessperson visa. At the same time, there are no special conditions for the amount of capital investments.
The UK currently supports an agreement signed with Turkey, which allows those seeking to relocate to the country under a simplified scheme to take advantage of this unique opportunity.
Britain does not impose difficult requirements for immigrants from Turkey. In particular, the applicant must want to live and work in England, confirm his income or the availability of start-up capital to open his own business, or his participation in a foreign business, the status of a sought-after specialist or investor.
Moving with the whole family (including with a common-law spouse), the opportunity not only to work, but also to study.
Turkish Businessperson visa allows you to further apply for permanent residence and obtaining the citizenship of the country.
As experts clarify, it is not known for certain which agreements will remain between the Republic of Turkey and Great Britain after the completion of the Brexit process (withdrawal from the European Union), how this will affect Turkish citizens and the visa regime. Therefore, if you are planning to move to live in Europe from Turkey, you should think about it now.

If you want to live and work in Turkey, obtaining Turkish citizenship through the purchase of real estate will allow you to quickly and easily open your own business in the country.

So, according to statistics for the past 2020, about 600,000 working foreign companies and enterprises were registered in the state, as well as about 700,000 foreign citizens were employed. In addition, the Republic of Turkey was among the ten most attractive countries in the world for foreigners – for living and working. And now, against the background of events taking place in the world, Turkey, thanks to its well-developed healthcare system and effective measures taken in the fight against coronavirus, remains a safe place for foreigners.

The “golden passport” program for investing in the Turkish economy is a really interesting offer for investors from abroad