The Turkish government sets a $75,000 minimum on foreigners’ residence permits

The Turkish government sets a $75,000 minimum on foreigners' residence permits

As part of the updated criteria, the Turkish government of Migration Management of Turkey has decided that foreigners who wish to obtain short-term residence permits or family residence permits through purchasing immovable property in Turkey will have to buy a property for a minimum value.

Under the previous rules, foreigners could only stay for three months, depending on what kind of property they bought. According to existing law, foreign nationals who buy real estate get a two-year residency permit.

What’s new in the latest decision of Turkish government?

You’ll have to make sure your property by May 5, 2022, is worth at least: if you want to take advantage of this scheme, you will have to make sure your property is worth at least:

  • If it’s in one of the 30 major cities in Turkey, it’ll be at least $75,000
  • If it is located in one of the remaining 51 smaller cities in Turkey, the price would be $50,000 and over.

Foreign nationals will have to purchase a home from Bodrum or Fethiye for at least $75,000 because these districts are part of the Muğla Metropolitan Municipality.

In Turkey, if the property value reaches $250,000, you may qualify for the “Turkish citizenship through property investment” program. Here’s how: Turkish Citizenship.

The list of the cities

Below is a list of the 30 cities eligible for $75,000 and classified as “large cities,” managed by their respective metropolitan municipality.

  • Adana (Adana Metropolitan Municipality)
  • Ankara (Ankara Metropolitan Municipality)
  • Antalya (Antalya Metropolitan Municipality)
  • Aydın (Aydın Metropolitan Municipality)
  • Balıkesir (Balıkesir Metropolitan Municipality)
  • Bursa (Bursa Metropolitan Municipality)
  • Denizli (Denizli Metropolitan Municipality)
  • Diyarbakır (Diyarbakır Metropolitan Municipality)
  • Erzurum (Erzurum Metropolitan Municipality)
  • Eskişehir (Eskişehir Metropolitan Municipality)
  • Gaziantep (Gaziantep Metropolitan Municipality)
  • Hatay (Hatay Metropolitan Municipality)
  • Istanbul (Istanbul Metropolitan Municipality)
  • Izmir (Izmir Metropolitan Municipality)
  • Kahramanmaraş (Kahramanmaraş Metropolitan Municipality)
  • Kayseri (Kayseri Metropolitan Municipality)
  • Kocaeli (Kocaeli Metropolitan Municipality)
  • Konya (Konya Metropolitan Municipality)
  • Malatya (Malatya Metropolitan Municipality)
  • Manisa (Manisa Metropolitan Municipality)
  • Mardin (Mardin Metropolitan Municipality)
  • Mersin (Mersin Metropolitan Municipality)
  • Muğla (Muğla Metropolitan Municipality)
  • Ordu (Ordu Metropolitan Municipality)
  • Sakarya (Sakarya Metropolitan Municipality)
  • Samsun (Samsun Metropolitan Municipality)
  • Şanlıurfa (Şanlıurfa Metropolitan Municipality)
  • Tekirdağ (Tekirdağ Metropolitan Municipality)
  • Trabzon (Trabzon Metropolitan Municipality)
  • Van (Van Metropolitan Municipality)

If you’re looking to buy in Canakkale or Rize, you’ll need a minimum of $50,000 to qualify for the resident permit program.

Is My Family Eligible to benefit from This Scheme?

It is important for any foreign national wishing to qualify for this plan that the real estate they purchase be listed and used as their primary residence.

In this situation, foreign national family members can apply for a residency permit if they jointly own or co-own the residence. The Turkish authorities count a person’s spouse, children under 18, and adult children dependent on them.

You can find out how to apply for a Turkish residency permit and what documents you’ll need here.

You can find out more about life in Turkey by reading this guide.

Standard short-term residency permits for activities related to tourism are not affected by this change. A property classification designation applies only to individuals who bought the property to designate it.

Conclusions and Considerations

  • Despite the low value of your property, if you bought a one-bedroom apartment in the city centre for 25,000 in Alanya after May 1, 2022, you’re still eligible for residency under the tourism classification system. 
  • For example, suppose you purchased a two-bedroom apartment near Bodrum’s marina for 35,000 before May 1, 2022. You are still eligible to keep your residency under the property class because you purchased the property before the new restrictions were implemented.
  • Those who desire to apply for residency through a rental agreement, hotel, or staying with family and friends will not be concerned by the information in this article.
  • Since it only applies to first-time applicants, the President’s Executive Order on Migration Management won’t affect your current status if you’re renewing your residency.

You can find below some properties on our website.

Please Contact Us For Your Inquiries

General Contact Form

Compare listings