The New Rules for Obtaining Residence Permits in Turkey by Tapu.
All the crucial details about these new rules and the key details that many overlook, right now.
Information obtained from the Directorate of Migration Affairs in Turkey and confirmed via the 157 hotline today reveals that from 16th October 2023, the rules for issuing a Turkish residence permit based on property will change.
From now on, to obtain a residence permit by Tapu, you will need to purchase a property worth at least 200,000 US dollars.
That is, when applying for a residence permit for the purpose of acquiring real estate with a paperwork date of 16.10.2023 and later, the selling price specified in the property right document should be no less than 200,000 US dollars in Turkish lira equivalent at the Central Bank’s exchange rate on the day of receipt of the ownership document for all cities in the country.
For Tapu issued after 16 October 2023, the previous property valuation expert report will no longer be accepted, and instead, the property right document's listed sale price will be taken as basis.
Residence permit applications for properties acquired before 16.10.2023 are not subject to this regulation.
For properties purchased between 26 April 2022 and 16 October 2023, a sum of 75,000 US dollars will still be required for metropolises and 50,000 US dollars for other cities, and a real estate valuation report will still be requested for these applications.
These changes will affect not only initial applications but also extensions or transfers from another type of residence permit to the one based on property.
There is no official published information yet, but it has been confirmed via phone and by the Turkish Directorate of Migration Affairs, and should be published soon.
Important: What do many overlook when talking about these new changes?
Due to inadequate information, it is unclear whether these changes will affect the tourist residence permit, which was also granted based on property.
What was the difference, you may ask?
For residence permits based on property, the buyer could apply for Turkish citizenship after 5 years of owning the property, providing they met a number of other conditions.
Owners of tourist type residence permits based on property were not able to do this.
A very important question, which is still unanswered, is whether it will still be possible to obtain a short-term tourist residence permit based on property ownership as was previously the case or not.
If this will be possible, these changes will only raise the overall threshold needed to obtain citizenship in the future, which is normal and understandable.
So, buyers of Turkish real estate can continue to get residence permits to live in the country, just now of a different type with no ties to the amount of 200,000 dollars..
Let's wait for official explanations on this very important issue for the market.
Stay with us, we will definitely keep you posted!
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