Foreigner House Buyers Get 1 Year Residence Permit in Turkey
The Turkish government has made house and real estate purchases easier in Turkey for foreign citizens over the last few years. With the lift of the Reciprocity law buyers from 184 countries are allowed to buy Turkish real estate in Turkey with a passport and 3 photos. The change is to encourage foreigners and companies to make more investment and business in Turkey that is estimated to bring an additional $30 billion into the economy by the end of 2015.
Turkey being on way as a member of the European Union has made many dynamic law changes in the parliament by the ruling AKP party to reflect higher standards like many western countries. The latest change is to provide a longer stay in Turkey for investors, set to minimum 1 year, till unlimited years.
Part of the legal process of buying a property in Turkey as a foreigner, is a static check done on the property by the Aegean Military to ensure the property passes the national security regulations. This regulation includes buying only within municipality boundaries, and excluding forbidden, special or military zones.
Both turkish and foreigner buying process is done the same way, except the foreigner purchasing property co-ordinates were sent to the Ege Ordu in Izmir to get approved first. This process made the buying period more longer that took between 1-2 months time to be able to complete the purchase made.
The most happy country citizens to see the new change into effect are of course those from the Arab and Gulf state nations like Iran, Iraq, Syria, Lebanon, Palestine, Kuwait, Dubai, Bahrain, Qatar, Saudi Arabia, Egypt, Libya, Erbil, Mosul, where a new life start-up for living and establishment in Turkey has become possible.