The commercial residency in Turkey, also known as the investor residency, is an entry visa for Turkish territory granted to business or industrial entrepreneurs. In this article, we will cover everything related to this type of residence permit, how to obtain it, the required documents, and the conditions necessary to get it within a short period.
What is a Commercial Residency in Turkey?
Investor residency is a type of residency in Turkey granted by the Turkish Chamber of Commerce to the state in which the foreign businessman wants to start his project in a legal way that guarantees his rights and provides him with more benefits. The residency period is only one year, subject to renewal.
What are the Benefits of a Commercial Residencty in Turkey?
Holding a commercial residence permit in Turkey officially registers the holder as a merchant and grants several privileges:
Discounts in restaurants, parks, and hospitals, in addition to attending exhibitions without prior reservation.
Full legal rights with all privileges.
Enhancing the holder’s profile when traveling outside Turkey.
Health insurance for the holder and his family, providing free treatment in government hospitals, and free education in public schools for his children.
Facilitating visa applications for some European countries and allowing application for Turkish citizenship after five years of obtaining it.
It guarantees a pension upon reaching the age of sixty.
Conditions for Obtaining a Commercial Residence Permit in Turkey
This type of residence permit is relatively easy to obtain as it is granted to all business owners and their partners without special conditions. There are no restrictions on the company’s size, capital, type of business activity, or the number of partners’ shares. The only condition is that the company must be officially registered in the Chamber of Commerce and operate within Turkey.
Any business activity must have a legal representative, and the owner must pay taxes on time and have a capital exceeding 100,000 Turkish Liras.
How to Obtain Permanent Residence in Turkey for Syrians?
The above conditions do not fully apply to Syrian nationals who wish to establish their businesses in Turkey. There are additional conditions and documents required, such as:
Securing a work contract from the contracting company.
Providing invoices and customs statements related to goods imported to Syria, which must be in the trader’s name.
Importing goods to Syria worth at least $500,000 in the year preceding the application.
Obtaining approval for entry and exit from Turkish crossings.
Providing necessary documents such as the trader’s identity, vehicle documents, personal photos, and a passport copy.
How to Obtain a Turkish Commercial Residency?
Establish a company in Turkey or be a partner in a company operating within the country.
Hire a legal accountant to handle the application for the commercial residence permit and all legal transactions.
Fill out and sign the commercial residence permit application form.
Attach a personal photo with the application.
The process of issuing the commercial residence permit takes about ten days from the submission of the application.
The permit is sent to the work address via Turkish Post (PTT).
The appearance and color of the permit vary depending on the state where the trader operates.
The Chamber of Commerce in that state issues the permit.
Why It Is Recommended to Establish a Company in Turkey
Low taxes ranging between 20% and 33%. If operating in free zones, technology development zones, or industrial zones, taxes are further reduced and can reach total exemption.
Simplified customs procedures with European Union countries.
Possibility of obtaining Turkish citizenship.
Employing at least 50 Turkish workers at the minimum wage, which is currently 8500 Turkish Liras per month, for three years qualifies the business owner to apply for Turkish citizenship.
Types of Residences in Turkey
In addition to the commercial residence permit, there are several other types of rresideny in Turkey:
Tourist residency.
Student residency.
Work residency.
Commercial residency.
Investor residency.
Real estate residency.
Family residency.
Humanitarian residency.
Permanent residency.
Obtaining a commercial residency in Turkey is a crucial step for investors and business owners. Thanks to legal facilities and available services, investors can take advantage of promising opportunities in the Turkish market and ensure a prosperous business future in the country.
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