Investment facilities for Egyptians in Turkey that push them to buy and own real estate in Turkey
In 2012, Turkey passed a law abolishing the principle of reciprocity, which allowed all foreigners to own real estate in Turkey except for five nationalities due to security and political reasons and old agreements.
It is noteworthy that during the year 2015 – 2016 – 2017, holders of Egyptian nationality were among the most foreign nationals buying real estate.
Turkish Statistics Authority: Investment facilities for Egyptians in Turkey open their appetite for owning real estate in Turkey
- The Turkish Statistics Authority revealed, that the real estate purchased by them last year recorded an increase of more than sixty percent over the previous year.
- The focus of Egyptian nationals is largely on the economic capital, Istanbul, and you find it the center of their stability and building of their investments and business entities.
- The authority explained that the ownership of Egyptians in Turkey was based on the advantages and benefits that they will obtain, indicating that Turkish citizenship is one of the most important points that encourage foreigners to own real estate in Turkey, and their demand for it increased after that. The Turkish government issued a decision in 2018 AD to reduce the value of the property to two hundred and fifty thousand US dollars, after it was previously one million dollars.
- They also chose to obtain this citizenship in several other ways, most notably:
Ways to obtain Turkish citizenship
- A financial investment of $500,000 for a period of three years.
- Deposit an amount of 500 thousand US dollars in a Turkish bank for a period of three years.
- Establishing a company and hiring 50 Turkish employees.
- Marriage to a citizen of the Turkish state (it can be submitted after three years from the date of marriage).
Source: Turkish Statistics Authority
How to apply for real estate residence in Turkey and the advantages of real estate residence
- The second point that we will talk about today is the way and how to apply for real estate residence in Turkey, as it is possible to obtain real estate residence if the property is intended for housing. Among the advantages of real estate residence in Turkey, we mention:
- It is noteworthy that the real estate residence permit is one of the most important types of residence permits in Turkey.
- The owner of the real estate residence is granted the right to travel to and from Turkey without the condition of obtaining a travel permit.
- The holder can move between Turkish states without restrictions.
- It also allows him to open an account in a bank in Turkey.
- Benefit from the most important rights enjoyed by the Turkish citizen (medical and health services).
- What distinguishes Turkey from the desire of foreigners to own property in it despite the high population density witnessed by the availability of a modern and developed transportation network that contributed to linking all cities and regions to each other.
- One of the most popular means of transportation in Turkey is the Metrobus, which is the longest and fastest line.
- In addition, transportation costs are very moderate.
The advanced educational system in Turkey encourages Egyptians to settle and own real estate in Turkey
- Investment facilities for Egyptians in Turkey Turkey is an important destination for those wishing to study, as it attracts thousands of foreigners annually in order to obtain an education and obtain an academic seat in its most important universities.
- Turkey relies on well-researched curricula that are constantly changing to keep pace with the latest global developments.
- Students obtain degrees that are recognized in the most important countries of the world, especially in the European Union.
- They can study in public and private universities.
One of the reasons for foreigners’ desire to own real estate and settle in Turkey is the low cost of living
- If you compare the costs that a person will need to live and reside in Turkey and Europe, then the Turkish Libra will definitely win.
- The cost of living includes not only food and drink, but also everything you need in Turkey.
- House rental costs are also moderate (there is a large variety of properties to suit all budgets and tastes).
Documents and papers required to own Egyptians in Turkey
The most important securities and documents related to securities to own and register real estate in Turkey are the following:
- Tax code extraction.
- Opening an account in a bank in Turkey (the price of the property must be transferred through the bank and delivered by hand).
- The buyer must be in Turkey to sign the contract, and in case he is not able to attend, a representative can be sent on his behalf.
- The passport after it is translated into Turkish and certified by the Notre.
- 2 personal photos of the buyer.
What are the properties that Egyptians have the right to own in Turkey
Among the most common questions among foreigners interested in real estate in Turkey:
A question: Is a foreigner with Egyptian citizenship entitled to own any property he wants?
Answer: Foreigners can buy villas, apartments and any type of real estate and commercial buildings without being bound by any restriction or condition, but as stipulated in the Turkish Constitution regarding foreign ownership of real estate, the holder of Egyptian citizenship is prohibited from owning agricultural real estate.
Is there a way for Egyptians in Turkey to own agricultural land?
Certainly, there is a way and investment facilities for Egyptians in Turkey, which is to establish a Turkish company and then register the land in the name of the company owned by the Egyptian citizen.
What is the future of real estate in Turkey and the reasons why Egyptians choose the Turkish real estate market
- It is expected that real estate prices in Turkey will increase significantly in the coming period.
- Real estate can be invested to get high return and profits.
- The Turkish real estate sector is growing rapidly
- Added to all of the above is the reviving Turkish economy, which played a major role in the Egyptians’ ownership of Turkey, in contrast to the many crises that Egypt has witnessed in recent years and their full realization that a successful economy is one of the pillars. The ideal life because its reflection is not on a particular sector or one aspect, but its overall effect.
- Also, real estate prices in Turkey are relatively low if you compare them to the prices in the European Union or some Arab countries. All these reasons made the Egyptians choose Turkey over other countries of the world.
It is worth mentioning in this regard is the knowledge of the relationship between Egypt and Turkey, and does the strong relationship that brings together the two countries have a role in the Egyptians’ ownership of real estate in Turkey?
First of all, you should know that the relationship between these two countries is not a result of today, but rather a historical and ancient relationship that belongs to the Ottoman era, and there are many aspects and commonalities between them in terms of religion and customs. Traditions, culture, etc.
We can say that since 1925 AD and until now there are good diplomatic relations between Turkey and Egypt, and if there is a difference of views, this does not mean that there is a difference between them.