Steps and information about foreign ownership and purchase of real estate in Turkey
Turkish law
A decision was issued by the Turkish Parliament in the Turkish capital, Ankara, in December 2005, granting foreigners the right to own real estate on Turkish lands according to the principle of reciprocity, meaning that in other words granting the right to own real estate to citizens of foreign countries – which grants the right to own real estate to Turkish citizens on its land To own in Turkey. But in September of 2012 and due to the economic crisis that many leading construction companies have suffered from in Turkey, the Turkish state rushed to limit and exit from this crisis, and at that time a decision was issued to amend the same legal article by the Turkish Parliament, stipulating granting the right to own real estate to all citizens of countries The world, abolishing the principle of reciprocity with the exception of holders of passports of countries: (Armenia, Cuba, North Korea and Nigeria). Today, foreigners enjoy ownership of real estate throughout the Turkish Republic, with the exception of residential neighborhoods near all military barracks of the Turkish army, strategic and security sites such as airports Sea ports, oil and power stations, or other cultural and religious centers of the Turkish state, and a foreigner is also entitled to own more than one property in Turkey on an area of up to 30 hectares.
Steps to buy and own
First: You must verify the title deed (ownership) while buying a property in Turkey, and make sure that the property is free from any debts or loans, and that is done by a lawyer who takes over this task, and usually real estate companies in Turkey, including the real estate owners, deal with reliable lawyers, Because the lawyer organizes the sales contract that includes all the details and conditions related to the sold property, and the buyer knows all the obligations contained in the property purchase contract in Turkey.
Second: The buyer comes to Turkey to sign the contract to purchase the property, and he can send someone on his behalf through an official agency,
Third: Extracting the tax number from the Istanbul Tax Department, which is a number that is given to every foreigner in Turkey, to facilitate his official transactions.
Fourth: Opening a bank account in a Turkish bank, to transfer the money from the resident’s country to the Turkish bank.
Fifth: For the seller and the buyer to go to the real estate office “Tabu”, so that the seller waives the property in favor of the buyer, and the latter receives the title deed and the property key,
And if the property is not ready for delivery, such as buying a house under construction from a real estate company, the title deed is not delivered to the buyer until after the house is handed over to him.
It is indicated that the property tax in Turkey amounts to about 4 percent of its price, and it is paid at 2 percent by the seller, and the same is from the buyer, and the buyer who owns the title deed is entitled to obtain a “real estate residence” from the Turkish Ministry of Interior for a period of one to three years Years, and this residency is granted exclusively to foreigners who own real estate inside the country.
Signing the property purchase contract between the buyer and the company – The purchase contract consists of several items written in Arabic and Turkish, and the contract is signed by the two parties of the buyer and the company in one of the company’s offices in Turkey. Of course, this is made by paying an amount submitted by the buyer, for which the property is seized until the title deed is officially received from the Land Department and Land Registry in the city in which the purchase was made. The following documents shall be attached to the purchase contract:
Official documents required
– A copy of the passport of the buyer;
– Two passport photos of the buyer (no more than 6 months old);
– A copy of the project building permit and its registration document in the municipality;
– A copy of the title deed of the real estate, to be transferred later to the new owner;
– Copies of all company documents such as: the company’s establishment license, a copy of its record in the Chamber of Commerce and a copy of its commercial activity.
Sixth: When the foreign buyer is the first foreigner to buy from the project, the process of registering the property in his name takes a period ranging from 45 to 70 days, and this is due to the investigation that the military department of the Turkish Ministry of Defense in the capital, Ankara, as soon as submitting a request to transfer ownership of the property, This investigation is to ensure that the property is not located in areas prohibited for foreign ownership or in areas that may pose a threat to Turkish national security. In the event that this military permission is issued, any other foreigner who buys from the project, the process of transferring the title deed takes from two to three days only, because the military permission is issued for the whole project when the first foreign buyer submits the title deed. It should be mentioned that most of our projects have already been bought by foreigners, so the process of transferring ownership is easy and simple and takes two to three days at most. Also, if you apply to us to buy a property, you will be informed of all its details by our sales representatives.
Seventh: Once the military approval is obtained and the procedures are finalized with the competent authorities, the buyer is summoned again to Turkey, and he must come within 15 days to receive the title deed and the key to the property, and then he pays the full amount to the construction company. Thus, the title deed of the property is delivered to the Land Department and the Land Registry, in the presence of the two parties, the buyer and the representative of the company, and also in the presence of a sworn translator who has already been assigned – the translator at the moment of handing over the document presents some information related to the property to the buyer by the employee in the department, and not by the notary It is the case in most European Union countries.
* It should be noted here, that in the event that the buyer cannot come to Turkey for reasons at the time or for other personal reasons, it is possible for the buyer to send another person on his behalf to finish the first phase of the purchase process and sign the contract. He can also authorize a person on his behalf to receive the title deed of the property (Tapu) later, but the latter needs a power of attorney to be written at the notary in the country in which the buyer resides outside Turkey.
Compare listings
Compare
