The minimum amount of property purchase in Türkiye for residence

Minimum Property Investment in Turkey for Residency

Purchasing property in Turkey is one of the most effective and quickest ways to obtain residency in the country. By acquiring a property of a specified value, you can secure Turkish residency within a few months and ultimately gain citizenship and a passport. As of October 16, 2023, the minimum property purchase amount required for residency in Turkey has increased to $200,000. This means that the total value of the properties you purchase must be at least $200,000. With this new regulation, it is no longer possible to obtain residency by purchasing a property of lesser value.
Therefore, before selecting a property, it is essential to ensure that its total value meets the minimum financial requirements set by the authorities. Additionally, the purchase amount must be officially registered in the property deed, and a property appraisal report must confirm its value.
For those seeking Turkish citizenship through property investment, the minimum investment requirement remains unchanged at $400,000. This amount allows investors to quickly and securely obtain Turkish citizenship and a passport. Given Turkey's dynamic economy and strategic geographic location, it has become one of the most attractive destinations for individuals seeking a second passport through real estate investment.

Conditions for Obtaining Turkish Citizenship Through Property Investment

One of the main conditions for obtaining Turkish citizenship is the financial value of the property or properties purchased in the country. The value of these properties must be at least $400,000 to qualify for Turkish citizenship.
Additionally, foreign nationals who purchase property for residency purposes must ensure that the property has not been previously owned by another foreign national. In other words, up to three owners of the purchased property must be Turkish citizens.
Another important requirement is that the purchased property should not be located in military or security-restricted zones. This regulation is in place to maintain public security and stability in Turkey and must be strictly followed.

Can You Obtain Residency with a Property Worth Less Than $400,000?

If the property you intend to purchase in Turkey is valued at less than $400,000, you can still obtain residency, provided the property meets a certain value threshold. In such cases, you may qualify for a temporary residence permit valid for one year. After receiving this temporary residency, you can extend it annually to continue residing in Turkey.

During this period, if you meet the necessary conditions, you may apply to convert your temporary residency into permanent residency. One of the key conditions for obtaining permanent residency is maintaining continuous residence in Turkey. To retain permanent residency, you must comply with the country’s travel restrictions, which allow a maximum of 90 days outside Turkey per year. Exceeding this period could jeopardize your eligibility for permanent residency, requiring you to restart the process through temporary residence permits.

Is It Possible to Obtain Residency with Less Than $400,000?

Yes, purchasing property in Turkey can be a pathway to obtaining residency. However, the eligibility for residency depends on the value of the property you purchase. The minimum property investment required for Turkish citizenship is $400,000. However, if you purchase a property valued below this amount, you can still obtain temporary residency.

In such cases, the Turkish government allows you to receive a temporary residence permit for one or two years, with the possibility of renewal. During this period, you have the opportunity to increase the total value of your real estate investment to $400,000. This can be achieved by purchasing additional properties or upgrading to a more valuable property.
Ultimately, to qualify for permanent residency in Turkey, the minimum property investment must be $400,000. However, for temporary residency, the minimum required investment is $200,000. A strategic approach for individuals with a limited budget is to initially purchase a lower-priced property for residency and gradually invest in higher-value properties over time to qualify for permanent residency.
For further details on the most affordable cities in Turkey for migration, contact our experts at Homeland.

How to Obtain Residency After Purchasing a Property Worth $400,000 in Turkey

As mentioned earlier, the minimum property purchase amount for residency in Turkey is $250,000. However, if you buy a property worth $400,000, you can quickly proceed toward obtaining residency in Turkey. This residency allows you to live in the country long-term and enjoy various benefits. But what are the steps to obtaining residency after purchasing a property?

Steps to Obtain Residency After Buying Property in Turkey

1. Ensure the Property's Value is Verified

After purchasing a property, make sure that its value is correctly assessed and documented. The total value should be at least $400,000 to qualify for Turkish citizenship by investment.

2. Consult an Immigration Lawyer

It is highly recommended to consult a specialized immigration lawyer who can guide you through the exact steps and legal requirements for obtaining residency in Turkey.

3. Gather Required Documents

Ensure that all necessary documents are complete and up-to-date. This will help speed up the residency application process. The required documents typically include:

• Valid passport
• Copy of the property title deed (Tapu)
• Bank receipts showing the property purchase transaction
• Property valuation report from an authorized expert
• Health insurance policy
• Tax identification number (obtained from the Turkish tax office)
• Proof of residence in Turkey (such as a rental contract or utility bill)

4. Obtain the Certificate of Compliance

A critical step in the residency process is obtaining a Certificate of Compliance, which verifies the official valuation of the purchased property. This certificate is issued by the Ministry of Environment and Urbanization upon submitting the valuation report and bank transfer receipts.

5. Apply for a Residence Permit

Once you have gathered all necessary documents, you need to submit your residency application to the Directorate General of Migration Management (DGMM) in Turkey. You will need to schedule an appointment (known as "Randevu") for an interview at the immigration office.

6. Attend the Immigration Interview

During the scheduled appointment, you must personally visit the immigration office with your documents. If everything is in order, you will be granted a one-year residency permit, which can be renewed in subsequent years.

7. Apply for Turkish Citizenship

After obtaining your residence permit, you can proceed with your application for Turkish citizenship by investment. The application is submitted to the Directorate General of Population and Citizenship Affairs and includes additional checks and verification.

Additional Considerations

• Mandatory Earthquake Insurance (DASK): You need to obtain earthquake insurance for your property before applying for residency.
• Municipality Registration: You must register your property at the local municipality office and obtain the “Tapu Dovum Belgesi” and “Numarataj” document.
• Work Permit Requirement: If you plan to work in Turkey, you must apply for a work permit (Çalışma İzni) separately.

Frequently Asked Questions (FAQs)