Feb 5, 2023

The Rights of Arab and Foreign Investors in Turkey

Investment in its general form in Turkey is considered one of the most important aspects that receive attention and follow-up in the country and is considered the focus of attention and receives great attention for foreigners, as Turkey has witnessed in the past years a comprehensive economic renaissance at all levels and its prosperity was very striking for foreigners and Turks themselves. Which increased the importance of Turkey real estate in its various cities among the regions of neighboring countries and countries of the world. Turkey noticed this and showed great interest to all its visitors from all countries.

In this article, we will talk about the rights of Arab and foreign investors who invest in Turkey real estate of various types and in its various cities.

Real estate investment in Turkey

Turkey real estate is considered one of the most attractive properties for investors in the world, as Turkey combines attractive economic advantages and diversity in real estate offers. What supports real estate investment in Turkey is the political and economic stability that the country is witnessing, along with the interest and continuous improvements in infrastructure and urban development.

Turkey real estate market offers diverse opportunities, from residential apartments to commercial and tourism projects and hotels. Foreign investors are encouraged to invest in Turkey real estate thanks to policies to facilitate access to real estate and government incentives related to real estate investment.

Turkey is considered one of the most important real estate hotspots in the world. Due of its geographical location, which is considered a bridge between the European and Asian continents, it offers exciting possibilities that make it a popular destination for international investors from everywhere.

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Why are Arabs and foreigners eager to invest in Turkey?

Turkey real estate investment has reached its peak after the renaissance it witnessed in recent years, as this investment has proven its success and safety. The demand of Arabs and foreigners for the Turkey real estate market has increased, and the importance of knowing the laws and guarantees that preserve their rights has increased. Citizens of (183) countries have the right to own land. Turkey, after Turkey abolished the principle of reciprocity with countries that do not grant the Turks the right to own real estate on their lands.

Turkey was interested from the beginning and realized the importance of foreign real estate investors, especially those coming from Arab countries and Middle Eastern countries, and therefore this interest produced more laws that raise the level of reassurance of foreigners and Arabs in Turkey to obtain good and suitable real estate investment opportunities for them in Turkey. The Turkish government no longer differentiates between foreign and Turkish investors in the laws related to investment. Rather, there are many facilities that the foreign investor enjoys in addition to easy laws that guarantee the rights of foreigners and encourage them to invest in Turkey real estate.

Once you own a property worth $400,000 in any Turkish city, a foreigner can obtain Turkish citizenship and have the same rights as a Turkish citizen. This law is extremely important and is considered a milestone in the life of every foreigner who aims to invest in Turkey real estate or reside there in the long term.

Turkey always seeks to inform the foreign real estate investor of the full rights guaranteed to him within the Turkey real estate investment laws. Providing all necessary facilities and procedures to help the foreigner adapt and facilitate his affairs in the best possible ways.

What are the rights of Arab and foreign investors in Turkey?

Obtaining real estate residence permit:

Real estate law in Turkey stipulates that foreigners who buy Turkey real estate worth $200,000 are entitled to obtain real estate residency in Turkey for a period of one or two years, subject to extension, unless the property is no longer in the name of its owner. It also grants the owner’s family the right to real estate residence permit, including a spouse and children under the age of eighteen. The holder of this residence permit has the right to enter and leave Turkey freely whenever he wants without the need for a visa. He also has the right to move between Turkish cities without referring to the authorities or requesting travel permission.

He can also obtain health and education services for free or at nominal prices at times. After eight years of real estate residency, its owner can apply for long-term residency in Turkey. The desire of foreigners to obtain real estate residency has increased after the government tightened the renewal of tourist residence permit for foreigners, as it is the ideal choice for those wishing to reside in Turkey now and obtain the many privileges that real estate residence permit holders obtain.

Obtaining Turkish citizenship

Turkish passport:

Turkish citizenship has a good position globally, as the Turkish passport is ranked 35th in the world, and until the beginning of 2024, the Turkish passport’s ranking recorded 128 points on the travel without visa index. Its holder can enter more than 70 countries without obtaining a prior entry visa (visa), and 51 countries grant the Turkish citizen a visa upon arrival, and 7 countries grant an electronic entry visa that is obtained online. Therefore, Turkish citizenship is considered a dream for many foreign investors in Turkey, especially since the procedures for granting Turkish citizenship to Turkey real estate investors have become greatly facilitated.

Turkish Citizenship:

Foreigners in Turkey have the right to obtain Turkish citizenship by investing in Turkey real estate, if the value of the real estate purchased by the foreigner reaches at least 400 thousand US dollars. There is no difference from a legal standpoint between any type of real estate in Turkey that nominates you to obtain Turkish citizenship, whether it is villas, apartments, offices, or buildings, as long as the general total of real estate prices reaches the minimum candidate for Turkish citizenship, which reaches the specified financial value as we mentioned previously.

However, there are two main conditions after the value of the property, which are that the property must be purchased from a Turkish citizen, and that the property must not be sold for three years. On the other hand, a foreigner also has the right to buy real estate in Turkey in more than one Turkish state, so it is not required that all the real estate he buys to obtain Turkish citizenship be in the same state. The important thing is that the above-mentioned conditions are met.

Will the facilities and rights continue for Arab and foreign investors?

In general, any country working to develop its economy and advance its people cannot stop foreign investment because of its significant financial returns to Turkey's economy. The current period is witnessing huge strategic projects that will have a significant impact on the international economy and international trade, and increase the demand for Turkish real estate incredibly, on the other hand. Logically, the wheel of the Turkish economy will not move alone, relying only on the citizens of the state. The state also needs the foreign investor, and for that, the state will continue to protect their rights and even support them and facilitate everything necessary for them.

At the conclusion of this article, we show that these rights represent a solid basis for attracting investors and strengthening the country's economy. The incentive policies and economic reforms undertaken by the Turkish government included the rights of investors, whether Arab or foreign, and gave them equal opportunities with Turkish citizens to benefit from the diverse economic environment and competitive advantages offered by the Turkish real estate market.

Property rights and legal protection, combined with the possibilities of ownership and operation, make Turkey one of the most attractive destinations for investors in the region and in the world.

The Turkish government's commitment to supporting foreign investors is demonstrated by providing a transparent and sustainable investment environment, which strengthens its role as a major player in stimulating economic development and enhancing international cooperation and confidence in business communities alike.
To learn more about real estate investment in Turkey and the rights of foreign investors, do not hesitate to contact us via WhatsApp. here. Our company's real estate consultant will respond to you immediately.

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