What are the investor's rights in Turkey?

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What are the investor's rights in Turkey?

Learn about the full rights of the foreign investor in Türkiye through this article

What are the investor's rights in Turkey?
15th August 2023
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Turkey is considered one of the distinguished investment destinations in the world, as it provides important opportunities for foreign investors, and one of the most important aspects that foreign investors look at when making the decision to invest in Turkey is their rights as investors and the Turkish government provides an encouraging investment environment and provides a wide range of rights and privileges to foreign investors, especially Arabs and therefore, through this blog, we will learn about the rights of the foreign investor on the territory of the Republic of Turkey and we wish you an enjoyable reading.

Learn with us the rights of foreign investors in Turkey

Below we will learn about the rights that a foreign investor will enjoy when investing in real estate in the real estate sector in Turkey:

Obtaining Turkish citizenship

Based on the provisions of Turkish law, buying a property worth $400,000 or higher is one of the most important advantages enjoyed by real estate buyers in Turkey to obtain Turkish citizenship, and the facilitating conditions for obtaining Turkish citizenship are one of the main factors, as a foreigner can buy one property for the amount It is required for naturalization, and the procedures for obtaining citizenship do not take long, as they do not exceed 3 months, which provides exceptional facilities in the procedures.

 

Obtaining real estate residence

People who buy real estate in Turkey for the purpose of housing are entitled to obtain a renewable real estate residence, and this real estate residence includes the buyer, his wife, and their children under the age of 18, when buying the property and obtaining the real estate residence, the investor can benefit from all the rights that are available to Turkish citizens .

 

Obtaining real estate residence has become an aspiration for many foreigners, especially after the restrictions imposed on the renewal of tourist residence in Turkey, and many foreign people have been forced to buy real estate to obtain this type of residence as an easy and legal alternative to staying and settling in Turkey.

 

Inheriting real estate in Turkey

Among the main advantages offered by the Turkish government to foreign investors is the inheritance system, unlike many countries that can confiscate the property after the death of the foreign owner, in Turkey the ownership of the property is transferred to the legal heirs, which confirms their legal right to keep it.

 

In addition, the heirs have the right to apply to the real estate court to complete the ownership transfer procedures, which ensures that the property transfer transaction proceeds legally and smoothly, and all privileges related to real estate ownership are transferred to the heirs as new owners of the property, which enhances the continuity of property rights after the death of the original owner.

 

Exemption from work visa

Thanks to the foreign investor owning a property in Turkey, it is no longer necessary to obtain an entry visa for every visit to the country and whether the visitor is the investor himself or the people who visit him, the investor enjoys the benefit of his real estate residency that can be renewed and kept as long as the property is legally registered in his name, this means that the investor can freely enter and exit Turkey without the need for repeated visa procedures and which saves him time and effort, real estate residence is a comfortable and sustainable option that allows the investor to enjoy and fully benefit from his property in Turkey without additional restrictions.



Compensation for any defects or omissions

In the event of any defects or shortcomings in the property within five years from the date of purchase, the responsibility rests with the construction company or contractor  and the company shall be obligated to repair the defects and compensate the buyer for any damages resulting from its negligence during construction and without regard to the purchaser's use of the property.

 

In the event of defects resulting from fraud or intentional concealment by the construction company, it is obligated to compensate the buyer for the property even after five years have passed from the date of purchase and in addition, the buyer has the right to file a lawsuit against the construction company for additional damages.

 

Advantages enjoyed by the foreign investor in Turkey

  1. The foreign investor gets full ownership of the property that he is buying, and he is free to dispose of it and use it as he wishes.

 

  1. The Turkish government offers facilitation procedures for foreign investors, which makes the process of buying real estate easy and simple, including property registration procedures and real estate ownership arrangements.

 

  1. After purchasing a property in Turkey, the foreign investor and his family are allowed to obtain a renewable real estate residence permit, and this residence grants similar rights to Turkish citizens including the right to enter and leave the country freely and to benefit from public services.

 

  1. Real estate in Turkey is an excellent investment opportunity, as the real estate market is witnessing sustainable and strong growth and a foreign investor can achieve a good financial return from his investment in real estate, whether by renting or selling it in the future.

 

  1. Turkey enjoys a wonderful geographical and cultural diversity, as it includes stunning landscapes, a rich history, and a diverse cultural heritage and the foreign investor can enjoy these advantages and explore the different regions and cities in Turkey.

 

  1. Benefit from tax incentives offered to foreign investors, especially Arabs, who wish to invest in real estate in Turkey.

 

  1. Turkey has many international schools and universities that contribute to the importance of the education sector in Turkey.

 

  1. The real estate market in Turkey is characterized by diversity, as it includes: villas, penthouses, triplexes, duplexes, hotel apartments, and studio apartments.

 

  1. Living in Turkey is cheap compared to living prices in other countries.

 

  1. Turkey includes various types of transportation, including: dolmus, tramway, metrobus, taxis, ferries, and bicycles.

 

  1. The possibility of buying a property in Turkey in installments and distributing your installments over equal periods of time.

 

  1. The country is characterized by security, safety, political stability and economy, which made it one of the most attractive countries for investors from all over the world.

 

  1. The possibility of buying an apartment in Turkey and renting or reselling it after three years and reaping huge returns.

 

Common questions

What are the rights of a foreign investor in Turkey?

  1. The right to full ownership of real estate and lands.
  2. Protection of property, contractual rights and intellectual property.
  3. The right to rectify and compensate for real estate defects.

Can a foreign investor contract with the Turkish government?

Yes, the foreign investor has the right to contract with the Turkish government and government institutions.

Can a foreign investor transfer his profits and capital outside Turkey?

Yes, the foreign investor is allowed to transfer his profits and capital freely outside Turkey.

 

Related articles :
The guide of real estate investment in Turkey 2022
Latest updates on Turkish citizenship and real estate residence
Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
Houses for sale in Turkey in installments
Villas for sale in Istanbul
Best offers for apartments for sale in Turkey 2022
How to obtain Turkish citizenship by real estate investment?
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey
The best real estate investment areas in Istanbul
#Binaa_investment    #real_estate   #Turkish_citizenship
#Istanbul_apartments    #real_estate_investment

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