2024 Legal Conditions on Short Term Lease with Touristic Purposes are changing. A regulatory ecosystem has been established by the Turkish government at the end of the year of 2023.
Introduction
2024 Legal Conditions on Short Term Lease with Touristic Purposes are changing. This paper will underline recent regulatory changes for 2024 legal conditions on short term lease with tourism purposes.
Doing business in Istanbul for 2024?
Turkey is regarded as one of the most rapid emerging countries with its high-growth market for businessmen from all over the world. Particularly, Istanbul, as one of the largest cities of Turkey, hosts numerous foreigners at the crossroads of Europe and Asia. Indeed, Istanbul has been regarded as being the 9th major European city with a business-friendly environment.
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touristic purposes
For the main advantages of investing in Turkey take a look at our articles:
- Investment Opportunities in Turkey
- Is Turkey Safe for Investment: Six Advantages to Grow Your Business in Turkey
- Establishment of A Company in Turkey
What are the conditions for a legal stay in Turkey?
Primarily, obtaining Turkish citizenship is a workable solution for a legal stay in Turkey. Additionally, work permit, residence permit or international protection may bring a long-term solution. Nevertheless, foreigners may benefit from a short-term residency with a tourist visa.
The violation of residency rules is subjected to severe penalties in Turkey. Particularly orders on return or deportation and decisions on administrative detention may cause severe consequences to foreigners. Therefore, without comprehensive guidance and legal representation by Turkish immigration lawyer, it is quite hard to avoid negative results including severe sanctions on the grounds of infringements of legal stay rules.
Keeping in mind the increasing touristic rental activities, new reform is made by law and policy makers in Turkey. This time, new standards and principles are articulated for homeowners in Turkey in terms of lease activities for touristic purposes.
Legal Conditions on Short Term Lease with Touristic Purposes.
What is the new rental law in Turkey about 2024 legal conditions on short term lease with touristic purposes?
The Law on Rental of Residences for Tourism Purposes (Numbered 7464) was enacted on 25 October 2023. The main purpose of the new Law is to stipulate all necessary procedures and principles applicable to the rental of residences to natural or legal persons for touristic purposes. It is notable that key administrative sanctions are produced against unauthorized rental activities in accordance with Article 4.
What is the new rental regulation in Turkey about 2024 legal conditions on short term lease with touristic purposes?
Afterwards, the Regulation on Regulating the Activities for Rental of Residences with Tourism Purposes was published on December 28th 2023. New rental regulations introduce a clear pre-obligation for a permit certificate [izin belgesi in Turkish] with the aim of short-term lease with touristic purposes up to 100 days. The provision of permit paper is a necessary precondition for rental of houses by landlords. Additional obligations for permit holders are developed. Permit certificate applications can be made online by means of necessary paperwork. Documentation process is stipulated in a very detailed manner by the Regulation. A set of papers should be properly prepared and submitted by permit holder candidates including a copy of ID card or a passport document, tax identification number, trade registry number or MERSIS number.
Conclusion
Considering above-mentioned analysis, new regulations represent a landmark development in Turkey with regard to the 2024 Legal Conditions on Short Term Lease with Touristic Purposes. Rental activities fewer than 100 days are regarded as "short-term" and therefore fall within the ambit of the Law and the Regulation. Core legal obligations are set forth by the Law and the Regulation in question. The initial step should be the provision of a permit certificate for short term lease with touristic purposes.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
