Posts

The Istanbul real estate market is growing day after day. Hence, Istanbul is one of the favorite choices for those who are looking for a home for host or just invest. But the priorities for these two purposes are different, each district and plan are appealing to a particular buyer. So, which district in Istanbul is for you?

Until taking action, it is critical that investors carefully examine, understand and have information about the business. This method gives shareholders some advantages in terms of the homes they are searching for and purchasing.

Are you searching for a villa or a summer house?

If you want a summer house with a garden, you may want to switch the districts that cater to you. Furthermore, cities and even the neighborhoods will be different. As a result, if you like to purchase a villa away from stress you can choose the district of Silivri. For a peaceful and calm summer house, it’s a great place. It is one of Istanbul’s districts that is away from the city’s tension. Because of its beaches, it is a well-known tourist area in the summer.

Looking for a near-business center district in Istanbul?

If you want a place close to business centers and in an environment that lives in the city’s spirit, you will be appealed by Sisli and Bakirkoy districts. Firstly, Sisli is situated on the city’s European side. Besides, it is one of Istanbul’s well-known trade regions. So, commercial business, shopping, and art culture are very popular in tis district, and some of the big and major corporations’ offices are situated in Sisli. One of Istanbul’s biggest malls, Cevahir, is located here.

Also, Bakirkoy is one of Istanbul’s key trade areas. National and international companies are close and Bakırköy plays an important role in Istanbul’s economy. There are currently 132 bank branches in the center of Bakirkoy and its various neighborhoods as an important center for the banking sector. The district is also home to the World Trade Center, which displays Turkish export goods.

But as we explained from the start not only districts and neighbourhoods have specific characteristics that appeal to you. Even, according to your desires, the projects you select would be different. If you would like extra service in the project, such as ornamental pools, picnic areas, sauna, fitness center, playground for children, swimming pools, etc., you have to determine which project fits your desires and expectations.

Find the right project that meets your wishes

With very different features, you can find various projects in the same district. Although both are in the same area, different expectations will be addressed.

If you want more information about why you should invest in Turkey, you can visit the post of ours: https://turesta.com/great-reason-for-investing-in-turkey/

The Turkish Investor Program is a Turkey citizenship application that allows you, through investing in Turkish real estate, to obtain a Turkish Passport with the right to live, work and also enjoy easy access to Schengen countries. So, we responded to the 5 most commonly asked questions about application for Turkey’s citizenship process 2019.

Q: How is the process of applying for citizenship functioning in Turkey?

When you purchase property with a gross value of at least $250,000, you can apply to the Tapu Office (General Directorate of Land Registry and Cadaster) and register for Turkish Citizenship.

Firstly, the request goes to the Ministry of Environment and Urbanization, whose evaluators test and confirm the property’s value. The Ministry then puts a notice on the Tapu (title deed) stating that for three years you may not sell it.

They then forward your application to the General Directorate of Population and Citizenship Affairs and you can later register and collect your Turkish passport and ID card.

Q: Can my family have Turkish Passports too?

Yes. You, your wife or husband and also your children under the age of 18 (on the date of application) can have citizenship.

Q: Should I buy just one property for above $250,000 or can I buy multiple properties?

You can purchase either just one property or several properties that are worth more than $250,000 in total, but note that you need to apply for your citizenship for all at the exact time. Only if the reported values are above $250,000  the Tapu office accept applications for citizenship.

Q: What is the Ministry of Environment and Urbanization’s responsibility?

The ministry checks with sworn appraisers that the amount declared on the Title Deed is right and above $250,000. Because of that, you should pay the property value to the Property Sellers by bank transfer.

Q: What are the processes and expenses to apply for in 2019?

Procedures, the fees and expenses for citizenship are in below.

Process of Turkey Citizenship Application

According to this;

1. Firstly, the charge for the Title Deed varies depending on the purchase price of the immovable property. The parties, the buyer and the seller, must pay 1.5% of the immovable value before 31.12.2019.

Although;

2. After the purchase of the immovable, you should apply for the conformity certificate.

3. Also, the certificate of compliance should be sent within 15 days to the client.

4. 256 TL + 85 TL residency fee and 80 USD visa fee will be charged after receiving the Certificate of Conformity. (If entry to Turkey was during the month that referenced 80 USD is not paid)

5. Short-term requests for residency are made after the applicant pays the relevant charges and the fee for citizens also is 15 TL per person.

6. Furthermore, to register for a residence permit, which varies depending on the insurance companies, it is mandatory to have a health insurance, but an average fee of 300-350 TL will be charged.

A notarized passport translation, prepared by a sworn translator is necessary for each applicant (i.e., spouse / children) for Turkey citizenship application.

7. A notarized passport translation, prepared by a sworn translator is necessary for each applicant (i.e., spouse / children) when applying for citizenship. Besides, roughly 200 TL per document are the expenses to be charged, including translation fees and notary authorization.

8. The notarized transcription of the marriage certificate with APOSTILE will cost 200 TL if the applicant is married.

9. The notarized translation of birth certificates with APOSTILE costs around 200 TL per report if there are children.

10. To benefit from the lawyer service during the purchase of the immovable property, the client must grant the attorney a Power of Attorney, provided by an authorized notary, and a sworn translator service is also required. The fees for attorneys and interpreters are about 350-400 TL.

For example, if one person wants to get citizenship with a $250,000 investment, the title deed + revolving fund is around 23,000 TL.

Approximately for other expenses, 1750-2000 TL will be needed. However, interpreter charges are the cost items that will vary here.

So, there will be about 500 TL for transportation, communication etc. expenses.

Also, if you wonder the advantages of investing in Turkey, you can visit the post of ours: https://www.listingturkey.com/what-are-the-advantages-of-investment-in-turkeys-real-estate/

In the subject of investment in real estate, Turkey lead the searches. We may claim its geographical, social-cultural and economic position as the first three reasons for this. Also, as other reasons for investment, low costs, medium and high returns, economic development and the legal advantages provided by the country may be given. Hence, we’ve summarized 4 reasons for investing in Turkey in this report.

1. Citizenship of Turkey

Turkey provides an investment program for citizenship. The Turkish Investor Program is a qualified citizenship program that allows you, while investing in Turkish real estate, to obtain a Turkish Passport with the right to live, work and enjoy easy access to Schengen countries.

Turkey declared in 2018 that foreigners should invest $250,000 to apply for citizenship. With the previously decreased investment amount from $1 million to $250,000, several investors had the ability to become both hosts and Turkish residents.

2. Strategic Position

Turkey is one of the world’s most popular countries. It is also a natural bridge that links Asia and Europe and across history, it has many trading routes. Turkey still has a strategic location for Asia, Europe and Africa that is economically important.

3. House Prices and Lower Bill Costs

Above all, one of the reasons of investing in Turkey is the Turkish lira has decreased in value in recent years. As a result of this situation, Turkey’s global housing sales have increased. For 2018, 2019 and 2020, corporate income tax dropped from 33% to 22%. In some special cases, foreign investors may be excluded from this tax in whole or in part.

4. Young Population

Compared to European countries, Turkey’s young population is very high. For investors who come for investment in real estate and business purposes, the young population is significant. Lastly, if you are willing to purchase Turkish estate and would like more information or advice on Turkish real estate law, or any other topic you may call us or send us an email.

If you would like more information about the advantages of investing in Turkey, you can visit the post of ours: https://www.listingturkey.com/what-are-the-advantages-of-investment-in-turkeys-real-estate/

Turkey has land in both Asia and Europe continents. The country has many beautiful features such as multicultural architecture, fascinating history, and geography. Turkey is one of the most preferred countries for investment. Turkey is a developing country and the construction sector is one of the most growing areas in Turkey. Istanbul is one of the most well-known cities in Turkey. It is largest populated and most improved city in the coutry. We have illustrated advantages of investment in Turkey in this article.

1. Citizenship of Turkey

Turkish citizenship is the most important benefit of buying a property in Istanbul. There is a program called “The Turkish Investor Program” which is offered by Turkish government. It is an unique system of citizenship that requires you to obtain a Turkish Passport. In that way, you will have the right to live, work, and experience easy access to Schengen countries. Turkey declared in 2018 that you should pay $250,000 amount of investment to apply for citizenship.

2. Cheaper Real Estate Than Most Countries

If you are interested, this means that the most important part of your decision is costs. Turkey is a country where you can buy properties cheaper than most other countries, especially Europe. Investing in Turkey also has the benefit of obtaining a Turkish passport, as we described in the first chapter.

3. You will get a return from your investment

Investing in Turkey means investing in a project that has a good future. One of the advantages of investment in Turkey is investments in real estate are promising, particularly in a big city like Istanbul. Istanbul is the perfect investment if you want a return on your invest.

4. Living Cost

You will realize everyday wherever you live in Turkey, that life is more affordable than other countries. It ensures you are not only buying less expensive property than other countries, you will also live a more comfortable life than ever before.

5. Perfect Place for International Company Owners

Turkey is one of the world’s most popular countries. It is also, as we have already mentioned, a natural bridge connecting Asia and Europe. It has a lot of trade paths all through history. Today, Turkey still has a strategic position that is commercially vulnerable to Asia, Europe and Africa. If you do or intend to do an international work, it’s exceptional because of Turkey’s geographical location.

If you would like to learn about the advantages of investment in Turkey, you can visit the post of ours: https://www.listingturkey.com/great-reason-for-investing-in-turkey/