Legal guide for foreigners in real estate ownership in TurkeyLast Updated:: 2021-06-07
Guide foreigners in real estate ownership in Turkey
This guide was arranged to help foreigners desiring to own property in Turkey, after removing the legal barrier preventing citizens of 89 countries from owning property in Turkey pursuant to the reciprocal protocol, which encouraged more investment and doubled the sale of Turkish real estate units.
According to the Government Amendment to Article 35 of the Real Estate Law No. 2644 of 18 May 2012, the principle of reciprocity in respect of foreign ownership of real estate in Turkey has been abolished, whereby foreigners have the right to own any type of real estate within the borders of the Republic of Turkey.
The foreigner who owns a land for the purpose of establishing it, should consult the municipality and the Directorate of Agriculture in the state where the land is located to settle the land transaction legally.
Form of the contract:
In accordance with the laws and regulations in Turkey, the transfer of ownership of real estate is done through an official document called "deed" is duly signed and registered in the directorates of the Land Registry, thus turning the legal ownership of the new owner.
Restrictions of real estate ownership in Turkey for foreigners:
The abolition of the reciprocity protocol does not mean that foreigners should be granted these rights at all, but there are a number of conditions that must be observed:
The area of real estate owned by a foreigner should not exceed 30 hectares.
Real estate owned by foreigners within the boundaries of the administrative area should not exceed 10% of the total area of the administrative area.
Obtain security and military approval from the competent military authorities in the area where the property is located.
The process of transferring ownership of a property is easy and fast according to the following steps:
Application: The landlord will book an appointment at the Directorate of Land Registry to complete the transfer procedures.
(Initial appointment is booked electronically, before 12 noon, for serial number)
Book an appointment either through the website of the Directorate of Land Registry : https://randevu.tkgm.gov.tr
The bond of the property which includes (the detailed address of the property).
Passport in addition to its translation.
The report of average real estate values in the region, this report is issued by the municipality.
Property Evaluation Report,
Earthquake insurance policy for the property.
A photo of the seller plus two photos of the buyer.
A sworn translator in case one of the parties is fluent in Turkish.
If the purchase is made by an agency concluded outside Turkey, at the consulate or embassy, the buyer needs a translation certified by a sworn translator, accompanied by the original copy of the agency.
Attorney signed outside the Republic of Turkey:
Attorney in consulates and embassies of the Republic of Turkey.
Attorney signed by the notary in the foreign country and in the official language of that country.
It must be translated into Turkish and attested by the Turkish consulate or embassy in that country if the country is not a signatory to the Hague Charter on 5 October 1961.
If it is a signatory to this Charter, the attorney does not require ratification by the Turkish consulates, provided that the explanation includes the words (Convention de La Haye du October 1961)
Expenses of transfer of ownership:
- It is stipulated that the value of the property in deed should not be less than the value specified in the report of the average value of real estate in the region
- Fees of the procedures of the deed, estimated at 2% of the value of the property registered in the deed.
Notes Foreigners should pay attention to them when buying a property in Turkey.
- Before buying the property, the buyer should review the scope of the land registry to ensure the legal integrity of the property, and free from any legal problems such as loans, attachment or inheritance problems - In case of inability to obtain a date for the transfer of ownership can be consulted directly to the Directorate of Land Registry. - It is advisable after relying on untrusted real estate brokers whether they are a company or persons- The buyer is not required to obtain a residence permit in Turkey until the transfer of the property is made - In case of any dispute between the parties to the contract must be referred to the relevant Turkish judicial bodies.
If the buyer is a foreign company with foreign capital,
you should consult the Commercial Registry Directorate to obtain a document specifying the capital ratios, and then consult the Planning Directorate in the governorate building in the state concerned for permission.
Source: Directorate of Land Registry.