BUYING PROPERTY IN TURKEY
Real estate purchases with movable purchases in Turkey are subject to different processes. In the purchase of movable property, only the parties’ agreements are sufficient while there is a more complicated process in the purchase of real estate property.
Real Estate Purchases in Turkey
With the amendment of Article 35 of the Land Registry Law No. 2644 on May 18, 2012, the reciprocity requirement has been abolished in the acquisition of real estate for foreign real people in our country. In this respect, citizens of countries determined by the Council of Ministers may obtain real estate from our country under certain conditions.
About which country citizens are able to acquire real estate; can be obtained information from Turkey Embassies, Consulates and information the General Directorate of Land Registry and Cadastre.
Foreign real person can obtain all kinds of real estates (residential, workplace, land, and field) in Turkey in accordance with the legal restrictions.
Foreign real person shall submit to the approval of the relevant Ministry within two years the projects to be developed on non-structural real estate (land, farm).
The transfer of the real estate property is possible with the official deed and registration to be signed in the Directorate of Land Registry.
It is also possible to sign the sale promise contract at the notary public. However, real estate is not acquired with the sale promise contract signed with the notary public or other similar sales contracts.
What are the legal restrictions on real estate acquisition of foreign real person?
- At present, a real person of foreign nationality may buy up to 30 hectares (300 acres) of real estate property. This figure may be doubled by the decision of the Council of Ministers. Thus, foreign natural person may acquire real estate property in Turkey Ministers on the Council up to a maximum of 60 hectares.
- Foreign real person may acquire real estate and limited real rights up to 10% of the area of
the district, other than public land.
- It is not possible for foreigners to acquire and rent real estate in military prohibited zones and security zones.
The Process of Buying Real Estate in Turkey for Foreigners
- The foreigner must not enter into the above mentioned legal restrictions and should be one of the citizen’s determinant by the Council of Ministers.
- In order to determine this, the Directorate of Land Registry sends a letter to the military authorities and asks whether the real estate property to be sold to the foreigners is prohibited. In case of positive response, transactions are carried out in the Land Registry Directorate.
- The real estate owner or his authorized representative must pre-apply to the Land Registry Office.
- If there is a deficiency in the pre-application conditions and if it can be completed, the pre-application dossier may be kept.
What are the required documents for real estate acquisition of foreigners?
1) The title deed certificate of the real estate or village, neighborhood, parcel, building, independent section information (deed registration process is done in the relevant Land Registry Directorate)
2) ID card or passport (with translation as necessary),
3) Receiving the Property Declaration Value Certificate of the real estate from the Municipality concerned,
4) The compulsory earthquake insurance policy for buildings (housing, work place, etc.),
5) 1 photograph of the seller, 2 photographs of the buyer (in the last 6 months, size 6×4).
6) If there is a side who does not speak Turkish, a sworn translator and two witnesses,
7) In case of a transaction made with the power of attorney issued abroad, the original or approved copy of the power of attorney with its translation.
What is the cost of purchase transactions?
- Deed fees
- Revolving fund fee
- Service fee to be paid to the Land Registry Office
What are the points that foreigners who want to acquire real estate in Turkey should pay attention to?
On the real estate, mortgage, foreclosure, etc. issues such as whether there is a restriction or if there is any circumstance which may prevent the sale of the property, should be checked from the relevant Land Registry Directorate.
Pre-application should be made to the Land Registry Directorate for transfer operations.
The transfer of the real estate property is possible with the registration and official deed to be signed in the Land Registry Directorate.
Having received a residence permit in order to obtain real estate in Turkey is not a requirement.
Turkish Citizenship through the Acquisition of Real Estate
- A real estate property worth at least US $ 250,000 must be purchased.
- When the real estate is purchased, an annotation must be placed on the title deed that the real estate cannot be sold for three years.
- The application documents required for the application for Turkish citizenship must be completed in a complete and correct manner.
- A commission is established by the relevant Ministries and the application for citizenship is evaluated and submitted to the President’s approval. The final decision is made by the President.
- At the approval stage, the nearest provincial police directorate calls the foreign for fingerprinting and interview.
How may TOPO Law Firm help you with this service?
Topo Law Firm, mortgage, foreclosure and so on conducts research for you on issues such as whether there is a restriction or any situation that may hinder the sale of the property.
Topo Law Firm informs you of the possible consequences.
Topo Law Firm plans the meetings in the Land Registry for you and provides the necessary documents.
Topo Law Firm assigns you information mails at every stage of the process.
As Topo Law Firm has mastered the entire process and works with professional attorneys, Topo Law Firm brings you to the best result in the fastest way.
Publish Date: February 12, 2019