Directory of foreigners for real estate in Turkey
Last Updated: 2023-09-10Real estate ownership law in Turkey
This guide has been carefully arranged and meticulously designed to be a reliable and reliable reference
Legal basis:
In accordance with the amendment to Article 35 of The Real Estate Law No. 2644 issued on May 18, 2012, the principle of reciprocity in relation to foreign ownership of real estate in Turkey has been abolished.
Foreigners are entitled to own any kind of property within the borders of the Turkish Republic.
Any foreigner who owns a plot of land for the purpose of establishing must review the municipality and the Directorate of Agriculture in the state where the land is located.
Contract shape:
- The area of property owned by the foreigner must not exceed 30 hectares.
- Foreign-owned properties within the boundaries of the administrative area must not exceed 10% of the total area of the administrative area.
- Obtaining security and military approval from the competent military authorities in the area where the property is located.
Procedures for the transfer of property ownership:
- The property owner will reserve an appointment at the Land Registry Directorate to complete the transfer of property. (The initial appointment is reserved electronically, before 12 pm, for a serial number)
- Reserving the appointment is either through the website of the Directorate of Land Registry https://randevu.tkgm.gov.tr
- The papers required for the transfer of ownership:
- The deed document of the property, which includes (the detailed address of the property).
- Passport in addition to translate it.
- Report the rate of real estate values in the region and this report is issued by the municipality.
- Property Assessment Report,
- Earthquake insurance policy for the property.
- A personal photograph of the seller as well as two photographs of the buyer.
- A Notary translator if one of the parties is not fluent in Turkish.
- If the purchase procedure is made by a Turkish special agency, at the consulate or embassy, so the buyer needs a certified translation from a Notary translator, attached to the original version of the agency.
Agency concluded outside the Republic of Turkey:
⦁ The agency concluded at the consulates and embassies of the Turkish Republic.
⦁ An agency with a notary in a foreign country and in the official language of that country, which includes a personal photograph of the owner of the agency.
⦁ It must be translated into Turkish and authenticated by the Turkish consulate or embassy in that country if this country is not signatory to the Hague Charter on 5 October 1961.
⦁ If it is a signatory to this charter, the Agency doesn’t need to be ratified by the Turkish consulates, provided that the commentary includes the sentence (Convention de La Haye du October 1961).
Transfer charges:
- The value of the property in deed must not be less than the value specified in the real estate rate report in the region.
- The fees for the deed procedures are estimated at 4% of the value of the property registered in the deed.
-The turntable has a trading capital of approximately $500.
-Value Added Tax (VAT) which is 3 tranches 1%, 10% or 20%
The reviews that foreigners should pay attention to during buying a property in Turkey:
- Before purchasing the property, the buyer must review the Directorate of Land Registry to ensure the legal integrity of the property, and free of any legal problems such as loans, reservations or inheritance problems.
- In the case of disability to obtain an appointment for the transfer of ownership, the Land Registry Directorate can be reviewed directly.
- It is recommended not to rely on untrusted real estate brokers whether they are companies or individuals.
- The buyer does not require a residence permit in Turkey until the transfer of ownership of the property is carried out.
- In the case of any disagreement between the parties to the contract must refer to the relevant Turkish judicial bodies.
- If the buyer is a company, it applies some special conditions.
Companies with foreign capital:
Foreign companies with foreign capital should check with the Commercial Registry Directorate for a document specifying capital ratios, and then the Planning Directorate of the provincial building in the state concerned should be consulted for permission.
Consulting team at Mersat Real Estate, welcomes your requests for assistance or enquiry
We are also pleased to inform you that most of Mersat Real Estate
Advisory services are free of charge and we do not charge any fees for them.
Source: Directorate of Land Registry in Turkey.
Edit: Mersat Real Estate ©
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