What is the investor’s residence in Turkey?
The Turkish government provides several types of legal residences for foreigners in Turkey, and Turkish Law No. 6458 on foreigners and international protection regulates the matters of these residences and defines their types and conditions according to the foreigner’s status and the purpose of his stay.
Articles 31 and 33 of this law are devoted to regulating long-term legal residency matters, and for short-term residence permits, Articles 28 and 29 of the Implementing Regulations for the Law of Foreigners and International Protection have been allocated.
Turkish law stipulates that short-term residence in Turkey can be up to two years, and this period varies according to the type of residence, and it can be renewed if the argument is convincing. In general, the residence granted to the investor in Turkey is of two types:
The first type: Residence permit under real estate investment in Turkey:
Turkish law stipulates that foreigners who own immovable property in Turkey can obtain a residence permit in Turkey. The immovable money is the property, that is, when a foreigner owns a property in Turkey which value exceeds $75,000, a foreigner can obtain legal residence in the country. The value of the property is related to the size of the property. The state, where a residence permit can be obtained when owning a property worth $50,000 in small states.
The second type: Residence for foreigners who have business relations and will establish business in Turkey
The Turkish government grants a legal, renewable residence permit to a foreigner who establishes a company in Turkey and is able to start a business officially and legally in the country. This residence permit includes foreigners participating in a pre-existing investment in Turkey such as factories, in addition to the capital of Turkish companies.
Who is granted investor residence in Turkey?
This type of residency is granted to two types of investors:
An investor in fixed assets, i.e. immovable funds
Turkish law grants legal residency to a foreign investor who owns one or more properties in Turkey.
The second type: foreign business founders in Turkey and direct investors:
The Turkish government grants legal residence permits to foreigners founding companies in Turkey or making direct investment in the country through multiple ways.
How to apply for investor residence in Turkey:
In the beginning, an application for the investor’s residence must be submitted to the General Directorate of Immigration before the end of the legal residence period in Turkey, and the investor attaches proof of his investment within the Turkish borders, and the type of papers required of each investor varies according to the type of investment as the papers required for the case of investment in companies differ For the papers required for the investment in real estate.
Advantages of investor residency in Turkey:
- The residence permit is granted to all family members of the investor, i.e. the wife and children who are not over 18 years old, and the children are registered in government schools.
- The investor’s residence in Turkey gives the right to travel to many countries with Turkish residency..
- Obtaining health insurance in Turkey and treatment in Turkish State hospitals.
- A foreign investor who has been in Turkey for 8 consecutive years can have a strong chance of obtaining permanent residence in Turkey.
- The possibility of obtaining Turkish citizenship after applying the conditions of the law granting Turkish citizenship to foreign investors.
