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Residence in Turkey for investors in the real estate sector

Posted by admin on January 22, 2022
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People who think about moving to Turkey often think that there will be a long and complicated process. However, there are consulting firms that offer easier solutions to this situation. It is necessary to consult investment advisors to make reasonable decisions regarding investment in the country and turn it into reality. In addition, the search for apartments is much faster if you consult with real estate agents. Investors looking for Turkey’s attractiveness and opportunities also find ways to obtain Turkish citizenship.

 

Residence in Turkey

Short-term residence permit for foreigners

Foreigners who invest or establish a company in Turkey must submit this application. If the necessary conditions are met, a residence permit will be issued for one to two years. Citizens who meet the necessary conditions must provide a place of residence. If your residence permit is not used within six months, you will lose the right to live in Turkey. You should obtain information from persons authorized to apply for citizenship of various kinds according to subjects such as education, residency, marriage or birth.

Long-term residence permit for foreigners

People who love to live in Turkey’s beautiful weather would like to have a permanent residence permit as real estate owners. However, there are certain conditions for this situation. The short-term residence permit can be extended, and they must prove eight years of residence in Turkey with permanent residence status. If approved, you may benefit from compound interest and tax exemption on investments. none

Investing in Turkey and Turkish Citizenship

People who pursue individual peace and are willing to take advantage of tourism opportunities usually seek real estate investment opportunities in Turkey. Investors who value their money and dreams also focus on the issue of citizenship, which can be obtained through real estate investment

Property tax in Turkey

Real estate rental in Turkey generates taxable income. Whether you are a citizen or a foreigner, tenants will have to consider paying the necessary taxes. It can be difficult to understand real estate tax in Turkey, especially if you have purchased a property in another country. Aside from the taxes you pay when investing in Turkey, there are other taxes that apply to rental property owners.

value added tax

In Turkey, real estate is subject to tax. 18% VAT is levied on commercial premises only. However, this differs when it comes to residential homes.

The VAT rate for apartments over 150 square meters is 18%.

Property in Turkey is freehold. If you sell your property, it is free from Turkish sales tax. However, if you buy and sell real estate through a real estate agency, the VAT rate is set at only 1%

 

Read also:

Characteristics and advantages of the Turkish passport

Real estate investment in Bodrum, Turkey

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