Turkey Residence Permit thepcgllc.com

Turkey Residence Permit

Turkey has become an increasingly popular destination for foreigners interested in real estate investment. In fact, in 2020, Turkey ranked amongst the top three countries for foreign home purchase. To assist foreign buyers in making smart investment choices in Turkey, Phoenix Consulting Group is thrilled to announce a new initiative focused on real estate investment and residence in Turkey.
One of the most important advantages of purchasing a property in Turkey is the high return on investment. Apartments in residential complexes located in the areas with well-developed infrastructure, are in high rental demand all year round. Thus, they are already rental guaranteed by the nature of the market.
Turkey offers a wide variety of real estate at extremely attractive prices. Throughout Turkey, you can find affordable studio apartments as well as luxurious sea view penthouses and villas. Foreigners are mostly attracted by the coastal tourist cities and cultural capital Istanbul, thanks to its central location.
Turkey is consistently voted to be the most desirable place to live in. The easiest way to establish a life in Turkey is to buy property and get a residence permit. Turkey offers multiple ways to get residency and citizenship but the post common are to buy property and/or start a business.
Turkey Citizenship by Investment
Turkey offers a fast route to acquiring a second passport within 2 months, through property investments from $250,000. The program features a straightforward application process without any obligation to declare the investor’s assets or income generated in other countries, and without their physical presence being required. Whether it is purchasing property as an alternative residence, or as a solid investment with high ROI potential, there are a wide range of modern apartments and luxury seafront villas, all at highly competitive prices. Investors can benefit from rental income and may re-sell after 3 years.

Turkey Residence Permit

If you wish to settle in Turkey and start your business or purchase a property, you may apply for a Residence Permit.

There is no minimum investment amount required; you can even buy property for just $45,000 to get your residency, you only have to prove that you own a property or you are running a business, and that you have sufficient financial means to live in the country.

Your dependents (spouse and dependent children) may apply for a family visa, once you get your residence permit.

This permit is issued for a maximum of two years, extendable, provided that you are still running the business or owning a property, have stayed in the country at least 184 days per year, have been a tax resident and you have enough income to support yourself and your dependents.

After just 5 years of legal residency with a total interruption of less than six months, you may apply for citizenship.

Why to Invest in Real Estate in Turkey?

This the best time to invest while Turkish Lira is depreciating. Turkey’s population is increasing each passing day. According to the Turkey Statistical Institute (TUİK) data; population residing in Turkey in 2018, increased by more than 1 million people compared to the previous year. The proportion of the working age population in Turkey is 67.8 percent. Istanbul where 18.4 percent of the population of Turkey lives, is close to 16 million people. The population of Turkey in 2050 is expected to be 94.6 million.

Where to Buy
Istanbul has always been and will always be Turkey’s leading city. As a hub of business, tourism, education, and economy, its local real estate sector leads the way in sales, both to foreigners and Turks. The city is on a mission to reinvent itself through mega projects and modernization of its housing market. Hence many buyers are attracted by off-plan and new developments in districts like Bağcılar, Küçükçekmece, Beylikdüzü and Esenyurt.
Here is where you should be looking to buy:

Nisantasi.

One of the most expensive areas, this is where the fancy restaurants and the shops are. Finding cheap deals here is impossible, but if you purchase something in Nisantasi, the chances of its value going up in the future are really high. You can find good $250K options that will be suitable for the citizenship by investment program, but it would be a relatively small place.

Taksim.

A central area within the historical center,Taksim has the oldest mosques and palaces in all of Istanbul. Buyers can definitely find something under $1,000 per square meter in Taksim, but they should be careful. The quality of the buildings will differ from street to street. Most ground floors, mezzanine, first, and second floors are the cheaper options.

Karakoy.

It’s an area of mostly older buildings, which can be described as the hipster side of Istanbul. There are loads of cafes and restaurants on the streets, plenty of people out and about. You can really feel the big city vibes here. Deals for around $1,500 per square meter can be found in Karakoy by those who look well enough and do their due diligence.

Cihangir.

Just minutes away from Karakoy is another trendy part of town. Cihangir has long been a favorite with the musicians and the artists of the city. Now, many startups have made Cihangir their home too. Well-educated Turkish families and expats intermingle here, which makes it a perfect place to buy an apartment for an investment.

Are you ready to Make the Move?

PCG provide full service for clients interested in buying property and residing in Turkey, we will provide all the necessary services under one umbrella. Our core team will guide potential buyers throughout the entire process, from scouting the best properties in Turkey to applying for the residency permit, supervised by our legal team. We will also provide guidance on establishing a new business in Turkey.

PCG works with leading real estate agencies in Turkey to find best investment and residential properties. Our team knows that one size does not fit for all, so we will offer a customized experience to each of our clients.
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