Owning real estate in Turkey for Syrians
Last Updated: 2023-07-27
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Owning real estate in Turkey for Syrians
Most nationals of the world can own real estate in Turkey, with the exception of the citizens of Armenia, Cuba, North Korea, Greek Cyprus and Syria, and because 4 million Syrians live in Turkey, the Mersat Real Estate team prepared a study on the possibility of Syrians owning real estate in Turkey legally.
You will read in this article
Ways to own real estate for Syrians in Turkey
Owning real estate in Turkey for Syrians in the name of a Turkish citizen
What does it take to set up a company in Turkey
Syrians in Turkey own real estate through investment or deposit
Can a Syrian obtain Turkish citizenship by owning real estate in Turkey?
Ways to own real estate for Syrians in Turkey
Ownership in the name of a commercial company
One of the most successful and first solutions used to obtain property ownership in Turkey by a Syrian person is to establish a company in Turkey, and thus the company has a legal personality through which it has the right to own real estate in Turkey. When adopting this method, the property must be commensurate in terms of its price and area with the size and capital of the company that was established. This method represents the most prominent legal solution to overcoming the obstacles in the field of Syrian ownership in Turkey. A Syrian citizen can establish a company without the need for a Turkish partner, and thus the company can acquire a Turkish legal personality that enables it to buy real estate in Turkey without obstacles, which allows for a steady increase in the effectiveness of investment in Turkey by Syrians.
One of the most successful and first solutions used to obtain property ownership in Turkey by a Syrian person is to establish a company in Turkey, and thus the company has a legal personality through which it has the right to own real estate in Turkey. When adopting this method, the property must be commensurate in terms of its price and area with the size and capital of the company that was established. This method represents the most prominent legal solution to overcoming the obstacles in the field of Syrian ownership in Turkey. A Syrian citizen can establish a company without the need for a Turkish partner, and thus the company can acquire a Turkish legal personality that enables it to buy real estate in Turkey without obstacles, which allows for a steady increase in the effectiveness of investment in Turkey by Syrians.
What would it take to establish a company in Turkey?
Of course, the first thing you need to do is to submit an application for incorporation of the company, followed by a set of papers obtained by hiring a law firm and specialized services, which you will have to follow in the following steps:
- Application to establish a company
- Power of attorney to follow up the procedures
- Declaration of incorporation statement
- Memorandum of Association of the company
- Two copies of the passport and personal identity, translated and duly certified
- Signature statement from the owner of the company
- Certified copies of other foreign documents, if any
- Bank receipts
- Chamber of Commerce registration statement
- Undertaking: Usually requested from the foreign partner (who does not hold Turkish citizenship)
- Tax assignment document
- Buying the property and registering it in the name of the company, which represents the best solution for the procedures for legal ownership of Syrians in Turkey.
Owning real estate in Turkey for Syrians in the name of a Turkish citizen
Sharing with a Turkish citizen who can be trusted can be considered one of the possible ways to own real estate in Turkey for the Syrians, without contravening the totality of Turkish laws. The dilemma of this method can be considered the need for the presence of a Turkish partner who can actually be trusted, and from the urgent need to sign a partnership contract that includes the parties to the partnership through which the rights of each party can be clarified in a way that is in line with frankness and clarity in a place, with the possibility of additional procedures aimed at ensuring all rights of both parties in cases such as placing a mortgage sign on the property in favor of the Syrian party to the contract.
Syrians own real estate in Turkey after obtaining Turkish citizenship:
What an expected solution; Acquire the Turkish citizenship and own the land!
The process of owning a property for Syrians in Turkey cannot be done directly, but at the same time, my dear, you as a Syrian can obtain the right to own real estate in Turkey after obtaining Turkish citizenship to be like any Turkish citizen. Syrians in Turkey own real estate after obtaining Turkish citizenship. A major decision was issued by the Turkish government in the ninth month of 2018, allowing foreign investors to apply for Turkish citizenship, through several methods; Each person who fulfills the conditions of any of these methods has the right to apply for Turkish citizenship, and these options include:
The process of owning a property for Syrians in Turkey cannot be done directly, but at the same time, my dear, you as a Syrian can obtain the right to own real estate in Turkey after obtaining Turkish citizenship to be like any Turkish citizen. Syrians in Turkey own real estate after obtaining Turkish citizenship. A major decision was issued by the Turkish government in the ninth month of 2018, allowing foreign investors to apply for Turkish citizenship, through several methods; Each person who fulfills the conditions of any of these methods has the right to apply for Turkish citizenship, and these options include:
- °Fixed investment of not less than 500 thousand US dollars
- ° Providing a job opportunity for at least 50 Turkish citizens, after the condition stipulated that they were 100 citizens.
- ° The value of the deposit requirement in Turkish banks was also reduced to 500 thousand dollars, after it was previously 3 million dollars.
Through this, it appears that the Syrian investor can follow one of the previously presented ways to obtain Turkish citizenship, through which he can own and buy real estate in Turkey like any ordinary Turkish citizen. It must be mentioned that the Turkish government has not limited its amendments to the Nationality Law to theoretical matters, but has practically intended to provide more facilities by opening specialized offices and committees that include representatives from the Ministries of Interior, Treasury, Finance, Environment, Urban Development, Labor, Social and Family Services, Industry and Technology, to work on monitoring and following up The affairs of applicants for Turkish citizenship according to the amendments to the new law; In addition to the opening of special offices to accept applications for Turkish citizenship submitted by investors and to manage their affairs, as the work of these offices is subject to the supervision of the previous aforementioned committee composed of the aforementioned ministries as well. By following these steps, the Syrian investor can own the right to direct ownership in Turkey as a result of obtaining citizenship, which necessitates obtaining Turkish citizenship first and owning real estate secondly.
Can a Syrian obtain Turkish citizenship by owning real estate in Turkey?
Since the Syrian investor cannot own a property in Turkey in his name directly, some people believed that establishing a company and then buying a property and registering it in the name of the company that was established would give the Syrian the possibility to apply for Turkish citizenship according to the above-mentioned law. However, it later became clear that the Syrian investor is not allowed to obtain Turkish citizenship by purchasing a property in the name of the company, regardless of the price of this property. It was necessary to find a loophole, dear! Investors sought alternative solutions, including the Syrian investor depositing $500,000 in the bank, and then submitting an application for Turkish citizenship, which entitles him to own real estate in his name directly in Turkey.
The Turkish government offers many privileges and facilities to Syrian investors. If you are Syrian and want to obtain Turkish citizenship through investment, your contact with the legal team at Mersat Real Estate Company to request legal advice is the beginning of a way to succeed in Turkey.
Edited by Mersat Real Estate
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