Significant Changes Have Been Introduced In The Procedures Governing Short-Term Residence Permits In Turkey, Particularly Those Based On Property Ownership. Based On Verbal Confirmation Received From The Authorities At The Migration Directorate, The Minimum Property Valuation Required For Individuals Seeking A Property Ownership-Based Residence Permit Has Been Increased To A Minimum Of $200,000 USD. The Previous Threshold Stood At $75,000 USD.
Another Significant Change Concerns The Evidence Required To Determine The Value Of The Property. Applicants Will No Longer Need A Separate Valuation Report Issued By An Authorized Agency To Evidence The Property's Value. Instead, The Migration Directorate Will Directly Assess The Property's Valuation Using The Sale Value Indicated On The Title Deed. Therefore, Foreigners Who Are In The Process Of Purchasing Property With The Hope Of Using It For This Category Of Residence Permit Should Take Note Of The Sale Price Listed On The Property Deed.
These Changes Will Apply Uniformly Across All Migration Directorate Offices In The Country For Individuals Who Have Purchased The Property On Or After October 16, 2023.
For Property Owners Who Purchased Property Prior To October 16th:
Property Owners Who Acquired Their Property Before This Date (I.E., On Or Before October 15th) Will Not Be Subject To Showing The Increase In Value. They Will Still Be Eligible To Apply For A Property-Ownership Based Residence Permit, In Accordance With The Previous Requirement That Came Into Force On April 22nd, 2022, Which Required A Property Valuation Of At Least $75,000 USD.
It Is Essential To Note That These Changes Are Recent And Have Been Confirmed Through Verbal Communication With The Authorities. Therefore, There May Be Additional Amendments Or Requirements. Additionally, It Should Be Emphasized That There Are Additional Requirements Pertaining To The Property For This Residence Permit Category, In Addition To Its Value, Such As Proof Of Earthquake Insurance. This Information Is Not Intended As Legal Advice, And Each Case Must Be Assessed Individually.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
