Until now, foreign buyers could get a residence permit in Turkey with a rental agreement. However, a new regulation was implemented with the decision of the Presidency of Migration Management of the Ministry of Interior (İçişleri Bakanlığı Göç İdaresi Başkanlığı). The residence permit will no longer be obtained with the rental agreement.
As a tourist residence permit, rental contracts previously gave foreigners the right to stay in Turkey for more than 90 days. But now, foreigners must purchase real estate to apply for a residence permit in Turkey.
On the other hand, a new minimum limit was also determined for the residence permit by real estate investment as of April 27. According to the new regulation, in order to obtain a residence permit in Turkey by owning a real estate, a property must be worth at least 75.000 USD in metropolitan cities and 50.000 USD in non-metropolitan regions. The price must be above the determined limits in the appraisal report and the title deed both.
So the sales amount must be above 75.000 USD in both documents for properties in Istanbul. The residence permit will not be given to the foreigner if even one of the sales amounts is below the determined prices. The property also has to be a house or an apartment to obtain a residence permit in Turkey.
Note: Property owners who received the title deed before April 27, 2022, will be exempted from this new regulation.
Tekce Overseas provides full legal support to foreigners in obtaining residence in Turkey with our comprehensive services and corporate lawyers. Visit our Residence Permit in Turkey page for more information about documents, procedures, and conditions.
