10 reasons to buy a property in Turkey
10 reasons to buy a property in Turkey
- With the increased interest in real estate investment in Turkey , and the availability of distinctive real estate projects , the interest of Arab investors to move towards Turkey with the aim of investment or stability has increased . This coincided with a facilitations provided by the Turkish government to foreigners constantly , to encourage real estate investment , including amending certain laws and opening the door to many nationalities for direct ownership . Also , research shows that property sales in Turkey have increased in recent years , meaning that people visiting Turkey have decided to settle in Turkey for various reasons .
- Geographical location is another important factor for Turkey's prosperity , it is a link between Europe and Asia , and has provided a functional role and a qualitative leap in trade between the two continents . Turkey's strategic geographic location , gives it weight and political importance , being the center of transformation in the Middle East and Europe . Also , the nature and climate in Turkey , it is a paradise on earth . Turkey is a unique country with its natural beauty , green areas , pure sea , golden beaches , meadows and flat lands . Thanks to these advantages , Turkey's tourism sector occupies an important place in the desire of investors to obtain a Turkish passport .
- Turkey is closely following technological developments , and the Turkish government knows that supporting technological developments is a critical step , as this is an age of technological progress . The ongoing reforms by the Turkish government to revitalize its economy , as it is a country with a bright future . From this , its total sufficiency of natural resources and export of agricultural products , cars and furniture to various countries around the world . In addition to the huge development projects adopted by the Turkish government such as the opening of Istanbul International Airport , the largest airport in the world , the launch of the Istanbul International Finance Center , and the continuous development of the transportation network and trains .
- Turkey's economy is characterized by its rapid growth and development , in the twenties of the last century , Turkey was only a fully agricultural country , but now it is one of the most important industrial countries , and it exports its products to all over the world . Turkish industry and trade centers are concentrated around the city of Istanbul and other major cities . The industrial , commercial , agricultural , tourism , real estate and educational sector thrive in Turkey , and the country has become self-sufficient and less imported from abroad .
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Strong and developed infrastructure , as infrastructure projects in Turkey continue at a steady pace . The Turkish Minister of Transport and Infrastructure has announced that his country has completed projects in the transportation sector with a total value exceeding 150 billion Turkish Lira ( $ 26 billion ) . Among the most anticipated infrastructure projects are the 3-storey Istanbul Tunnel Project and the Istanbul Canal Project . Istanbul Canal project , the era project and the largest project in Turkey . It is the Istanbul Canal project announced by Turkish President Recep Tayyip Erdogan , when he was prime minister in 2011 , as one of his goals to reach a new Turkey in 2023 . It is a project that will strengthen Turkey's position in the field of water crossings , and will connect the Marmara Sea to the Black Sea in the European section of Istanbul . The Istanbul Canal project will divide the European side of Istanbul into two parts , which will lead to the formation of its beaches on the Black Sea , the Sea of Marmara , the new Canal and the Bosphorus Strait , which in turn will lead to a crazy rise in property prices in the areas covered by the Canal Istanbul project . The Istanbul Canal project will be a new waterway of 45 - 50 kilometers ( 28 - 31 miles ) and at a depth of 25 meters ( 82 feet ) , and it will be 150 meters ( 490 feet ) on the surface and 120 meters ( 390 feet ) at the bottom of the canal , these dimensions allow the largest number of ships and submarines to pass .
- The rapid growth of Turkey's emerging and developing economy . Since late 2017 , economic growth rates have exceeded official forecasts and indicators of Turkey's statistical and economic institutions . Turkish and foreign economists point out that Turkey's economic growth rate will reach around 12% in 2019 , the highest rate in Turkey's economic sector since 2015 .
- Skilled and competitive labor , where the Turkish President , Recep Tayyip Erdogan , that the labor force in Turkey rose from 22 million , in 2002 , to 29.5 million , stressing the increase in employment despite the increase of labor in the country .
- Turkey is a member of the G20 , the world's 20 largest economic powers . The G20 is a group of 19 countries as well as the European Union , and the meetings of this group focus particularly on economic policy topics .
- Obtaining Turkish citizenship by purchasing a property in Turkey , in line with the facilities and incentives offered by the Turkish government to investors , as it established a law that allows obtaining Turkish citizenship and Turkish passport immediately when purchasing a property of at least $ 250.000 .
What are the documents required to obtain Turkish citizenship when buying a property in Turkey ?
- A copy of the Tapo ( title deed of the purchased property ) , or the promise of sale contract with the notary ( Noter ) .
- Valid evaluation report of the property , the validity of the real estate evaluation reports is three months , and the value does not exceed the value recorded in the title deed , and has a specific issuance cost , and is extracted within two or three working days by a valuation institution licensed by the Turkish government .
- Original payment receipts from the buyer's account , stamped from the sending bank .
- Original receipts from the seller's account , stamped from the receiving bank .
- Two copies of the proxy of the application for citizenship , granted by the investor to the law firm to submit the file of citizenship , and follow-up with the official departments . The proxy is organized through a Notary in Turkey ( Notre ) at an estimated cost of 600 to 700 Turkish Lira per copy . If the investor's spouse is added to the naturalization file , a similar proxy must be provided for each of the spouses , and one joint proxy may be organized for the client and his wife . The fees of the legal team vary according to each case in terms of the number of papers and the number of individuals in the file and others .
- Translation of the passport into Turkish , certified by a notary in Turkey ( Noter ) for the whole family : husband , wife , and children under 18 years of age .
- Picture of the last Visa and entry to Turkey .
What are the advantages of obtaining Turkish citizenship ?
- The strength of the Turkish passport , where the Turkish passport is ranked 39th in the world , and its holder is granted access to 72 countries without a visa .
- The Turkish passport and citizenship are processed and delivered in a relatively short period of up to 30 days .
- Turkey's relationship with the European Union , where negotiations and agreements between the Turkish government and the European Union countries on the accession of Turkey to the European Union are still underway . Turkish citizen has the right to enter Europe without a visa in the future .
- Possibility of Turkish passport holders and Turkish citizenship to benefit from retirement programs as a Turkish citizen .
- The Turkish government provides free education and payment plans to the university for Turkish passport holders and Turkish citizens .
- The Turkish passport gives the holder all voting rights for all types of elections in Turkey .
- The Turkish government allows dual citizenship for those holding Turkish passports , as they may also have another citizenship .
- Turkish passport is valid for 10 years when received , and can be renewed for life .
- The economic importance of Turkey , including the ongoing reforms undertaken by the Turkish government in order to revive its economy constantly .