There is no obstacle for foreigners to acquire property in Turkey, as long as they have the economic opportunity to do so and to pay the respective taxes since this country promotes foreign investment. Ingeneral terms, if a foreigner acquires a property in Turkey, he does not necessarily have to be a resident of the country.
What immigration policies apply to foreigners? Can I bring my family in an emergency?
First of all, in order for a foreigner to invest in Turkey, he must apply for a temporary investor’s visa, as long as the investment amount is not less than TL 1,500,000 Turkish Lira:
1) The applicant must submit to the consulate the project of productive, commercial or service investment, for a minimum of one million five hundred thousand (TL 1,500,000) pesos, and must prove the origin and legality of the funds and their income country by means of banking or financial institutions authorized by the Central Bank of the Turkish Republic. If it is in a language other than Turkish, the corresponding translation must accompany it.
2) This General Consulate will send the project to Turkey to be evaluated by the National Directorate of Migration (DNM).
3) Finally, will inform this General Consulate of the approval of the project by the Ministry of Industry and Tourism, which will have a specific peremptory deadline.
Avoid making Mistakes Real Estate Purchasing in Turkey
Mistakes to avoid when investing in real estate in Turkey
Investing in real estate may seem simple enough. Considered one of the most profitable businesses for investors this is a market that tends to offer low risk and high rewards. Turkey is rich with opportunity right now. Relatively cheap land not only for properties but for harvest and cattle breeding presents valuable opportunities. Investors should get involved in the market, so that they receive higher margins in the future.
However, it becomes very different and more complicated when you decide to invest in a foreign country. Typically, laws, regulations, and rules pertaining to foreign investors differ from your home country, where you’ve probably invested before. To make the best decisions for your wallet and the market in general, there are a handful of tips and tricks to keep in mind when investing in real estate in Turkey.