Russian investment in Bodrum
Bodrum is getting a lot of investment from Russia in the figure of three hundred million dollars investment not to be laughed at.


Grey wisdom
Russian investment in Bodrum
No free lunches comes to mind here, how long before there is a Russian mayor of Bodrum?


Russian investment in Bodrum
Next thing will be some Russian's expensive yacht catching fire in the marina. Insurance claim paid to local bank, hey presto, money out of home country. . . . it's happened before in Marmaris.


Russian investment in Bodrum

Russian investment in Bodrum
Exactly what are they investing in in Bodrum? Anyone know?


@ LUGANS this article gives you a very good idea. It's not just the property, it's also the chance to benefit from a Turkish passport. (See parts in red font) My guess is that there are many people in Russia who are beginning to realise some of these benefits.


Increasing demand by the Russian and Iranian to buy real estate in Turkey​

Turkey has become a major destination for investors and those who want to buy real estate from all countries of the world , as Arab investors have increased interest in heading towards Turkey with a goal of investment or stability , and the Turkish market continues to attract foreign investors month after month and year after year , especially since real estate investment in Turkey has witnessed a comprehensive renaissance at all levels in recent years . This was accompanied by the issuance of a package of laws that attract foreign investors to its various sectors .
The real estate sector in Turkey , which has received a large share of the economic renaissance , has become the focus of attention of investors from all over the world . Besides , the Turkish real estate sector has received the largest share of the laws that encourage investment . Perhaps the most important one is tax cuts , and granting Turkish citizenship in exchange for a real estate investment of $ 250.000 .
With the increase in demand for buying Turkish real estate by foreign nationalities , we face the following question : What is the reason for some nationalities going to buy real estate in Turkey ?

The successive statistics of the Turkish Statistics Department resulted in various rankings about the number of foreign investors who chose to buy real estate in Turkey during the recent period , which showed an increasing demand from a number of specific nationalities , and the share of Russian citizenship was in a clear rise , as the Russians became among the five most foreign nationalities owning real estate in Turkey in 2019 .
According to the statistical information of the General Directorate of Land Registry and Real Estate Survey , the Iraqis came first in terms of sales of Turkish real estate to foreigners , followed by Iranians , then the English , then the Germans , then the Russians , then the Saudis .
According to the Turkish Statistical Institute ( TurkStat ) , the number of homes sold to foreigners during the past 2019 year was approximately 45.500 , of which the Russians had a share of 2.893 .
Turkey is also the first destination for Russian tourists , as Russian citizens ranked first in 2019 in the number of foreign tourists in Turkey , with more than 7 million Russian tourists out of 51 million foreign tourists .
Experts say that the Russians previously preferred to buy real estate in Spain , Bulgaria and Italy , but their interest in these countries decreased , and their tendency to buy real estate in Turkey became more .

What are the reasons for the increasing demand of the Russians to buy real estate in Turkey ?
  1. Real estate prices in Turkey are low compared to those in European countries .
  2. Turkey's warm climate , compared to Russia's very cold .
  3. Turkey is a popular destination for Russian tourists , due to the low cost of airline tickets to it from all Russian cities , and the failure to request a visa from Russian citizens upon entering Turkey .
  4. Low real estate prices in Turkey because of the change in the exchange rate of the Turkish lira against foreign currencies .
  5. Low cost of living and taxes compared to the well-being and services available .
  6. High-end urban models within Turkish real estate , especially in apartment complexes , or in apartments with charming sea views .
  7. The desire to obtain Turkish citizenship and benefit from its advantages , as the Turkish passport allows entry-free visa to several important countries , with the possibility of obtaining an American investor visa category E2 .

What are the documents required to obtain Turkish citizenship when buying a property in Turkey ?
  1. A copy of the Tapo ( title deed of the purchased property ) , or the promise of sale contract with the notary ( Noter ) .
  2. Valid evaluation report of the property , the validity of the real estate evaluation reports is three months , and the value does not exceed the value recorded in the title deed , and has a specific issuance cost , and is extracted within two or three working days by a valuation institution licensed by the Turkish government .
  3. Original payment receipts from the buyer's account , stamped from the sending bank .
  4. Original receipts from the seller's account , stamped from the receiving bank .
  5. Two copies of the proxy of the application for citizenship , granted by the investor to the law firm to submit the file of citizenship , and follow-up with the official departments . The proxy is organized through a Notary in Turkey ( Notre ) at an estimated cost of 600 to 700 Turkish Lira per copy . If the investor's spouse is added to the naturalization file , a similar proxy must be provided for each of the spouses , and one joint proxy may be organized for the client and his wife . The fees of the legal team vary according to each case in terms of the number of papers and the number of individuals in the file and others .
  6. Translation of the passport into Turkish , certified by a notary in Turkey ( Noter ) for the whole family : husband , wife , and children under 18 years of age .
  7. Picture of the last Visa and entry to Turkey .

What are the advantages of obtaining Turkish citizenship ?
  1. The strength of the Turkish passport , where the Turkish passport is ranked 39th in the world , and its holder is granted access to 72 countries without a visa .
  2. The Turkish passport and citizenship are processed and delivered in a relatively short period of up to 30 days .
  3. Turkey's relationship with the European Union , where negotiations and agreements between the Turkish government and the European Union countries on the accession of Turkey to the European Union are still underway . Turkish citizen has the right to enter Europe without a visa in the future .
  4. Possibility of Turkish passport holders and Turkish citizenship to benefit from retirement programs as a Turkish citizen .
  5. The Turkish government provides free education and payment plans to the university for Turkish passport holders and Turkish citizens .
  6. The Turkish passport gives the holder all voting rights for all types of elections in Turkey .
  7. The Turkish government allows dual citizenship for those holding Turkish passports , as they may also have another citizenship .
  8. Turkish passport is valid for 10 years when received , and can be renewed for life .
  9. The economic importance of Turkey , including the ongoing reforms undertaken by the Turkish government in order to revive its economy constantly .


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