A new circular of the Presidency of Migration Management of the Ministry of Interior on 27 April 2022. The circular has details that bring new regulations for residence permit applications by real estate purchasing.
With the new regulation, the residence permit will no longer be obtained with the rental contract.
In order to apply for a residence permit, the value on the property appraisal report and the sale price of the property must be higher than 75.000 USD in metropolitan cities and higher than 50.000 USD in non-metropolitan regions.
So, the value of the appraisal report and the real estate sales price (the price on the deed) must be at least 75.000 USD in the big cities, such as Bursa, Balıkesir, and Istanbul, where foreigners invest in real estate the most. The value for properties in Yalova must be at least 50.000 USD.
If the property appraisal report value is over 75.000 USD but the title deed value is below the determined value, the title deed-based resident permit will not be accepted. In this situation, the tourist residence permit can be granted.
Applicants who had their title deed before 27 April 2022 will be exempted from this regulation.
We provide full assistance and legal support to foreigners in obtaining residence in Turkey with our comprehensive services and corporate lawyers. For details, visit the Residence Permit in Turkey page or contact us now.