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Turkish Authorities Increase Minimum Price for Residence Permits to $200,000

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Turkish Authorities Tighten Conditions for Residence Permits

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A recent update from the Turkish Immigration Department reveals that obtaining a residence permit in Turkey has become more challenging. Turkish authorities have raised the minimum price of real estate that must be purchased in order to qualify for a residence permit.

Turkish authorities have increased the minimum purchase price for real estate to $200,000. Previously, the minimum price was $50,000 for smaller towns and $75,000 for urban areas. These new regulations aim to ensure that only those who invest significantly in the country are eligible for a residence permit.

The updated rules state that a residence permit can only be obtained if the purchased property is valued at least $200,000. Additionally, a “Taboo” paper is required as proof of real estate ownership, without the need for a property valuation.

It’s important to note that these new rules will only apply to individuals who purchased real estate after October 16, 2023. For those who bought property before this date, the previous regulations still apply, with a minimum price of $50,000 for small cities and $75,000 for larger cities like Istanbul and Izmir.

Source: News

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