Before 2022, foreign residents used to apply for a residence permit and be granted it with a rental agreement. However, with the latest decision of the Presidency of Migration Management of the Ministry of Interior, foreigners will not be able to obtain residence permits with a rental agreement anymore.
In the past, foreigners could obtain a residence permit for more than 90 days by simply renting a property in Turkey. However, according to the recent amendment, foreigners now have to purchase real estate in Turkey to be eligible for a residence permit. On the other hand, you can still stay in the country for up to 90 days with your tourist visa.
Minimum Investment Limits Changed Too
According to this new regulation, foreigners who invest in real estate worth at least $50,000 in non-metropolitan cities or $75,000 in metropolitan cities can apply to obtain a residence permit. The sales price must be correct and above the determined limits both in the title deed and appraisal report for the approval of the application.
Unfortunately, you will not be able to obtain a residence permit as a foreigner by any means apart from investing in real estate in Turkey within the provided minimum limits. It is worth noting that there are no upper limits in your investment to obtain a residence permit.
What Will Happen to Previous Buyers?
This new regulation is in force as of April 27, 2022. If you have purchased your real estate before this date and you got your title deed before April 27, you have nothing to worry about. The regulation will be in force as of April 27 and any previous buyers will be exempted from it.
If you need further assistance or discuss other incentives you can benefit from to reside or work in Turkey, please feel free to contact us whenever you want.