Obtaining Turkish residence offers a range of benefits, from investment opportunities to lower taxes and extended travel privileges. In this article, we will provide you with a step-by-step guide on how to obtain Turkish residence, including the different types of resident permits available and the advantages of acquiring one.
At Nomad Capitalist, we specialize in helping individuals navigate the process of obtaining second residence or citizenship. With our expertise and guidance, we will ensure you make the right choice for your specific needs as our valued client.
Turkey Country Overview:
Situated at the crossroads of Europe and Asia, with a population of over 85 million, Turkey is a vast market with a rich cultural heritage. The country boasts a Mediterranean climate, attracting sunseekers during the summer months. Turkey’s diverse terrain, characterized by mountains, adds to its unique appeal.
The Turkish economy is a mixed one, with both the public and private sectors driving growth. Over the years, Turkey has shifted from an agricultural-based economy to one focused on industry and services.
Turkish Residency Benefits:
Turkey offers an attractive business environment for entrepreneurs looking to establish a company or invest in real estate. By becoming a Nomad Capitalist client, you can explore the specific benefits that a residence permit in Turkey can offer you and your family.
While citizenship by investment is possible in Turkey, the minimum investment required has recently increased to $400,000. While this may seem steep, it’s important to consider the potential returns from the country’s solid real estate market. Turkish citizenship also grants visa-free travel to many South American countries. However, it’s worth noting that Turkey’s citizenship by investment program is considered niche compared to other popular programs like Malta’s golden visa or Caribbean programs.
Turkish Residency Requirements:
The duration of stay in Turkey on an e-visa depends on your country of origin and travel document. For visitors from the U.S., a tourist visa obtained at a Turkish Embassy allows for a 90-day stay, and a touristic residence permit can be obtained for a maximum of six months.
Different residence permits, such as family residence permits, humanitarian residence permits, student residence permits, and residence permits for victims of human trafficking, enable you to extend your stay further. The two main types of residence permits are short-term and long-term.
Short-Term Residency Permits in Turkey:
Short-term residence permits are typically issued for a maximum of two years. However, individuals who demonstrate an interest in investing in Turkey, subject to specific conditions, may be eligible for a five-year short-term residence permit. This can serve as a pathway to Turkish citizenship or a long-term residence permit.
To apply for a short-term residence permit, you must submit the necessary documents to the Provincial Directorate of Migration Management. These documents include the residence permit application form, passport or equivalent travel document, biometric photographs, proof of sufficient income, and other required fees.
Long-Term Residence Permit in Turkey:
Long-term residence permits in Turkey are granted indefinitely, and applicants must have continuously resided in the country for at least eight years. The application process involves submitting various documents, including the residence permit application form, passport, biometric photographs, proof of financial sufficiency, police record document, and valid medical insurance.
Source : Nomad Capitalist