Top Tips for Finances: Income Statement for Turkish Residence Permit Application

Top Tips for Finances & Income Statement for Turkish Residence Permit Application

The requirement to disclose their income on the application for a residence permit is a common source of confusion for petitioners. How does one declare and demonstrate their source of income? What are some suggestions and tricks for increasing your likelihood of acceptance? This article aims to answer your pressing concerns regarding the finances-related sections of the application for a residence permit.

Who must disclose their revenue on the application for a residence permit?

If you are applying for a residence permit on your own behalf and do not have another individual undertaking or sponsoring you, you will be required to attest that you have the financial resources to support yourself. This is required of all applicants except those seeking a residence permit for humanitarian reasons. For family residence permit applicants, the sponsor must provide evidence of ample income for themselves and the applicant. (and other members of the family if applicable).

What are the acceptable sources of revenue I can report?

Income from rental property, salary, business profits, inheritance, and savings are all examples of legitimate income sources. You must indicate your source of income on the application. A concise description of the source of income is also required.

It is extremely important to note that if you are employed in Turkey (for example, by a Turkish company) without a valid work permit, it is likely that this will be investigated if the income is declared and will likely cause problems with your application. You may not work in Turkey without the appropriate documentation.

Do I need to disclose my income on the application for a residence permit if I am unemployed?

Even if you are unemployed, you must disclose your source of income if you are applying without a sponsor. This could be the support of a family member or your own reserves if you have no active income.

How much of my income must I report?

Applicants for temporary residence must attest that they have sufficient funds for the duration of their requested stay. We recommend declaring a minimum monthly income of 1.5 times the minimum wage for each month of your stay in Turkey.

Sponsors applying for family residence permits for a family member must have a minimum income per family member equal to no less than one-third of minimum wage and a total income equal to no less than minimum wage, although we recommend declaring more if feasible.

Will I be required to provide proof of my income source when applying for a residence permit?

When you arrive for your scheduled appointment, it is possible that you will be asked to provide additional proof of your declared income. Typically, these are bank statements and employment documentation. Applicants applying for the first time are frequently required to apostille, translate, and notarize a bank statement from their native country for a minimum of six months. Renewals will require a certified and stamped bank statement from a Turkish bank for the same period.

How much should I list as my savings on the application?

If you indicate that your only source of income is reserves, you may be required to provide evidence that you have sufficient funds to cover your entire requested length of stay. This should be at least 1.5 times the minimum compensation per month for the requested duration.

How do I exhibit my international bank statements?

Recently, foreign bank statements are only approved for initial applications, while Turkish bank statements are required for renewals. Foreign bank statements must be notarized, apostilled, and translated.

Why am I required to list my income on the application for a residence permit?

People who state they are financially competent of supporting themselves pledge not to apply for financial assistance from the Turkish government.

If you are uncertain about how to complete the application for a residence permit on your own, do not stress. Contact us immediately to receive expert advice on how to maximize your chances of approval.