FAQs for Foreigners Investing in Turkey: Property, Citizenship
Discover essential FAQs for investing in Turkey, including property purchase, residency, citizenship, taxes, legal procedures, and more. Get expert insights now!
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Table of Contents
What is important when I rent property as a tenant?
Inspect the property, know what’s included in the rent, understand the terms, communicate with your landlord.
Do I have to pay taxes in Turkey for assets located outside of Turkey?
Residents are taxed on worldwide income; non-residents are taxed only on earnings in Turkey.
Do I and my family members have to serve in the Turkish Army if I become a Turkish Citizen by Investment?
Those over 22 are exempt; those under 22 must serve.
If my application for Turkish Citizenship is rejected, can I reapply?
Yes, you can reapply with the missing documents.
How can my children older than 18 and my parents become Turkish Citizens?
Through investment or 5 years of residence in Turkey with a permit.
Can my children older than 18 and parents apply for resident permits and later Turkish Citizenship?
Yes, after 5 years of continuous residence in Turkey.
If I invest $500K for Turkish Citizenship, do I have to pay tax for $500K and its interest?
No tax for the $500K, but tax for earned interest.
May I freely send my deposit in a Turkish Bank outside of Turkey after three years?
Yes, you can.
What is Yuvam Hesap and its main advantages?
It’s a Turkish Lira Time Deposit account offering protection against exchange rate volatility and additional returns.
What happens to my Turkish Citizenship Status if I withdraw my $500K within 3 years?
Citizenship will be canceled retrospectively.
Can I invest $500K in different Turkish Banks?
No, it should be in the same bank.
How long does it take for Turkish Citizenship by Investment?
Around 4-6 months after completion of investment.
Is it must to change foreign currency to Turkish Lira for property purchase?
Yes, payment must be made in Turkish Lira.
Is the legal process for collecting money in Turkey difficult?
It can be straightforward with the right legal steps.
Does Turkish Citizenship allow dual citizenship?
Yes, Turkey recognizes dual citizenship.
Does having a criminal record in my own country affect my application for Turkish Citizenship by Investment?
Yes, a clean record is typically required.
Can I and my family choose a new name and surname when we become Turkish Citizens?
Yes, within Turkish naming conventions.
Does Turkey report Turkish Citizenship applications to the relevant authorities of the applicant’s country of origin?
No.
Can my children study in Turkish schools without restrictions after becoming Turkish Citizens?
Yes, they can.
Can my family benefit from the Turkish Insurance and Health System after obtaining Turkish Citizenship?
Yes, they will have the same rights as Turkish citizens.
Do I have the same rights as Turkish Citizens if I become a Turkish citizen by Investment?
Yes.
Is there any minimum stay requirement during the application procedure for Turkish Citizenship by Investment?
No, but a stay may be required for a residence permit.
Can I work freely without a work permit in Turkey once I become a Turkish citizen by investment?
Yes, as a Turkish citizen, you can work without a permit.
Is it possible for foreigners to buy land in Turkey?
Yes, with some restrictions.
What are 5 tips for moving to Turkey?
Prepare for the climate, learn the language, expect friendly locals, enjoy the food, be kind to stray animals.
Is it possible to buy property and invest in Turkey using bank credit?
No.
What are 5 useful apps in Turkey?
E-DEVLET, MHRS, ENABIZ, SAHIBINDEN, MOOVIT.
What are the features of Power of Attorney in Turkey, and how to give POA?
Must be issued from Turkish notaries or consulates for real estate transactions; issued at any Turkish notary.
Are there specific requirements for POAs for real estate transactions and divorce in Turkey?
Yes, they must be issued specially in accordance with legislation and include photos.
Is it possible to buy a business in Turkey for a foreigner?
Yes, with certain requirements.
Can you please describe prenuptial agreement and its features according to Turkish Law?
Allows spouses to arrange property-sharing and debt principles.
What are the requirements for cancellation of Turkish Citizenship according to Turkish Law?
Must be of legal age, not wanted for crime or military service, and not have financial or criminal restrictions.
What are the requirements for deportation from Turkey according to Turkish Law?
Being a supporter of terrorism, dangerous to public safety, illegal workers, etc.
Is it possible to legalize foreign country’s court decision in Turkey?
Yes, through recognition and approval procedures.
How to secure a deal when buying real estate in Turkey and what is TAPU?
Use a knowledgeable lawyer, TAPU is an official title deed confirming property ownership.
After purchasing a property, may I make a will in Turkey?
Yes, with certain requirements.
Where and how to draft a will in Turkey?
In a notary public with witnesses present.
How to execute a will in Turkey?
Wills must be in writing and signed by the testator in the presence of witnesses.
What do you advise to foreigners before registering marriage with a Turkish Citizen?
Consider residency requirements and marriage regime choices.
What are the procedures of divorce for foreigners in Turkey?
Must have resided for 6 months, can be negotiated or contentious.
What are the procedures of divorce for foreigners in Turkey, division of property, and custody agreement?
Foreigners must have resided in Turkey for at least 6 months. Divorce can be negotiated or contentious, with property division and custody agreements determined accordingly.
Can foreigners own property in Turkey?
Yes, with certain restrictions and requirements.
What is the process for obtaining Turkish Citizenship through investment?
Invest a specified amount, fulfill requirements, and apply for citizenship.
Is there a fast-track option for Turkish Citizenship by Investment?
No, despite claims, there isn’t a genuine fast-track option.
Do foreigners need to live in Turkey during the Turkish Citizenship by Investment application procedure?
No, there is no minimum stay requirement.
What is TAPU and why is it important when buying real estate in Turkey?
TAPU is an official document confirming property ownership and is crucial for real estate transactions in Turkey.
Is it possible to buy property and invest in Turkey using cryptocurrency?
No, property transactions in Turkey must be conducted using legal tender.
Can foreigners open a bank account in Turkey?
Yes, with proper documentation and requirements.
What are the tax implications for foreigners who own property in Turkey?
Foreigners are subject to property tax and may be subject to income tax on rental income.
Can foreigners obtain a Turkish driver’s license?
Yes, by meeting certain requirements and passing the necessary exams.
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