Archives

December 2017

RESIDENCE PERMIT (IKAMET)

A standard Turkish Tourist Permit now allows you to stay in Turkey for no longer than 90 days in any 180-day period. Most nationals obtain these entry visas upon arrival at Turkish airports (cost Euro 15).  Please also refer to https://www.evisa.gov.tr/en/ for…

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Turkey Ranks 5th in Property Price Increase

The results of Knight Frank’s “Global House Price Index” study have been announced. The countries where property prices have increased the most in order are: Iceland (17.8 percent), Hong Kong (14.4 percent), New Zealand (13.8 percent), Canada (13.5 percent), Turkey (13.3…

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Turkey offers citizenship to foreign property buyers

Turkey has changed its law to offer citizenship to foreigners who buy property worth at least $1m in the country. The decree on the changes published in Turkey’s Official Gazette on Thursday also grants citizenship to foreigners who make a…

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Property ownership and doing business in Turkey as a foreigner

Legal Background The Regulation on the Law on Applications for Turkish Citizenship (“Regulation”) has been published on Official Gazette dated 12.01.2017 and numbered 29946. According to the amendment, a foreign investor who meets certain conditions mentioned under the provisions added…

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Turkey Real Estate Sector Grew by 3.4

Turkish Statistical Institute (TUIK) announced growth figures for the first quarter of 2017. Accordingly, in the first three months of this year, Turkey’s economy grew by 5.00 percent. While the industrial sector grew by 5.3 percent, the growth rate in…

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Owing a Property and doing business in Turkey

The Regulation on the Law on Applications for Turkish Citizenship (“Regulation”) has been published on Official Gazette dated 12.01.2017 and numbered 29946. According to the amendment, a foreign investor who meets certain conditions mentioned under the provisions added to the…

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Turkey offers citizenship to foreign property buyers

Turkey has changed its law to offer citizenship to foreigners who buy property worth at least $1m in the country. The decree on the changes published in Turkey’s Official Gazette on Thursday also grants citizenship to foreigners who make a…

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Foreigners now exempt of VAT when buying property in Turkey

The Turkish Government has abolished VAT on property purchases for foreign buyers, as the country attempts to attract more international investors. The new law means that foreigners are exempt of VAT on the purchase of either a house or office in Turkey, with…

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