President Abdullah Gül has approved the legislation which brings the principles of the entrance of foreign nationals to Turkey, their stay, exit, and the protection to be provided, into line with the EU.
Residency Permit duration increase
The legal hurdle on foreign nationals buying property had been removed with the reciprocity legislation. The expectations of the real estate sector were now on the increase of the duration of the residency permits given to foreign nationals who buy property. With the White paper published, a Short Term Residency Permit has been adopted for foreign nationals who have property in Turkey.
The serious rise in real estate purchases by foreign nationals which has been expected in the sector is now considered to be imminent with the introduction of this new residency permit. From now on, foreign nationals will be able to be able to stay in the properties they have bought for long periods.
The law states as follows:
Residency permits of 1 year will be given to foreign nationals owning property in Turkey.
This 1 year residency permit will be extended for periods of 1 year at a time subject to the property not having been sold.
Individuals who wish to take advantage of this permit will be required to provide details of the property they have purchased and the address where they will reside.
- Individuals may be requested to bring details of their police record from their own country.