Turkey Permanent residency by investment is a way often preferred by foreigners. There are some visas and residence permits got for the purpose of residing in Turkey. The residence permit visas provided by these visas also different from each other and Turkey Permanent residency by investment.
Foreigners who want Turkey permanent residency can apply for these different types of visas in accordance with their purpose and duration of stay in Turkey and obtain a residence permit. Therefore, there are two conditions for permanent residence in Turkey. The foreign person must either obtain a long-term residence permit or get permanent residency in Turkey by investment.
With the regulation made in 2018, the amount of Turkey Permanent residency by investment has been reduced, thus, the way to obtain Turkey permanent residency by investment has become the most preferred way by foreigners. Turkey is Turkey permanent residency by investment. The latest regulations on this issue were brought with the presidential decree issued in May 2022.
In this article, we will discuss ways of Turkey permanent residency by investment, the differences between obtaining a residence permit by getting visa and Turkey permanent residence by investment, and all the other information you need on the subject.
Turkey Permanent Residency by Investment
Turkey permanent residency by investment is another way of permanently residing in Turkey. Since it takes many years to permanently reside by obtaining a residence permit is not preferred by foreigners. With the amendment made in 2018, the terms of the Turkey permanent residency by investment were changed.
With this change, it has become much easier to acquire citizenship through investment and thus to obtain a Turkey permanent residency by investment. In this respect, it has been the most preferred way of people who want to obtain a permanent residency by investment in Turkey.
In order to acquire a Turkey permanent residency by investment, you must first decide on the type of investment you will make.
Turkey permanent residency by investment has six different investment methods. With the regulation made in 2018, the amounts of these investment types were reduced. In the current regulation, you can acquire Turkish citizenship by making one of the following investments:
- Making a fixed capital investment of at least 500,000 USD.
- Purchasing real estate worth at least 400,000 USD provided it will not be sold or transferred for three years (This amount was 250 thousand dollars before the new regulation in May 2022),
- Creating employment for at least 50 people,
- Depositing at least 500,000 US Dollars or equivalent foreign currency to banks operating in Turkey provided that they are kept for three years.
- Purchasing government debt instruments worth at least 500,000 US Dollars
- A foreign person who fulfills one of the conditions for purchasing an immovable investment fund participation share or venture capital investment fund participation share can acquire Turkish citizenship.
After making one of these investments, applying for Turkey permanent residency by investment, you can acquire Turkish citizenship and Turkey permanent residency by investment with the decision of the competent authority. If you would like to get detailed information about the conditions and procedural procedures required to acquire Turkish citizenship and permanent residence permit by investment, you can browse our articles on the subject.
Visas and Residence Permits
Turkey residence permit types are classified within the scope of the Law on Foreigners and International Protection, and different conditions and periods have been introduced for each residence permit type. They are short-term residence permit, family residence permit, student residence permit, long-term residence permit, humanitarian residence permit, and human trafficking victim residence permit. For detailed information on the conditions of residence permit types, you can read our article on the subject.
The period of residence in Turkey without a visa or after the visa expires is 90 days. After 90 days, foreigners are required to obtain a visa in accordance with the reasons for coming to Turkey.
According to Article 23 of the Law on Foreigners and International Protection, “Residence permits are issued for sixty days shorter than the validity period of passport or passport substitute documents, depending on the purpose of stay and for each foreigner.”
The only way to get permanent residence by obtaining a residence permit in Turkey is a long-term residence permit. There are some conditions for obtaining a long-term residence permit. If these conditions are met, permanent residence permit can be applied. According to Article 43 of the Law on Foreigners and International Protection, these conditions are as follows:
- To have resided in Turkey for 8 years before obtaining a long-term residence permit
- Not having received social assistance in the last three years
- To have a sufficient and regular source of income to provide for himself or his family, if any.
- To have valid health insurance
- Not to pose a threat to public order or public security.
As a result, there is a long-term procedure for people who apply for a permanent residence permit in order to stay in Turkey. However, there are many documents and some fees that must be submitted to the competent authorities. This situation is not preferred by foreigners who want to reside in Turkey permanently.
Conclusion about Permanent Residency in Turkey by Investment
The use of right of permanent residency in Turkey by investment is a method frequently preferred by foreigners. Obtain a permanent residence permit is not applicable because of that, the requirement to reside in Turkey for at least 8 years and other requirements.
It is a much more applicable way for foreigners to acquire the right of permanent residence and citizenship at the same time by investing in Turkey. You can choose one of the above-mentioned investment methods, take the necessary actions, and acquire Turkish citizenship and permanent residence permit.
Obtaining a permanent residence permit by investment cannot be obtained directly with the application, but depends on the positive decision of the competent authority.
In order to have a permanent residency in Turkey by investment, the conditions determined by the competent authorities must be met, and the investment must be realized in accordance with the law. It will be in your best interest to get legal advice from a lawyer for these legal proceedings.
Topo Law Firm, with its expert lawyers, provides legal consultancy to foreign clients on permanent residence permit processes by investment. You can contact us to get detailed information from our expert lawyers or to get legal advice from our lawyers.
FAQ About Turkey Permanent Residency by Investment
Can you get residency in Turkey if you buy property?
Yes, you can get a residence permit by meeting the conditions for obtaining permanent residence through investment.
2. How much do I need to invest in Turkish citizenship?
It depends on the investment way which you prefer. Minimum amount of investment way is the 250,000 USD.
3. How can I get permanent residency in Turkey?
As we have explained above, you can get Turkey permanent residency by investment and making the necessary procedural procedures.