Law on Foreign Ownership of Real Estate in Turkey
A decision was issued by the Turkish Parliament in the Turkish capital of Ankara in December 2005, granting foreigners the right to own real estate on Turkish land in accordance with the principle of reciprocity, that is, in other words granting the right to own property to citizens of foreign countries – – Ownership in Turkey. But in September of 2012 and because of the economic crisis suffered by many of the leading construction companies in Turkey, the Turkish state rushed to reduce and get out of this crisis, and then a decision to amend the same legal material by the Turkish Parliament, provides for the right to own real estate to all citizens of States In addition to the holders of the passports of Armenia, Cuba, North Korea and Nigeria, the foreigners now own real estate throughout the territory of the Turkish Republic excluding the residential areas near all military barracks of the Turkish army. Strategic and security realities such as airports and seaports, oil and power plants and other cultural and religious centers of the Turkish state. A foreigner is also entitled to own more than one property in Turkey and an area of up to 30 hectares.
Steps to buy and own
1) The owner goes to the city he wants to buy in Turkey, is done
2) Organizing free real estate tours to the buyer in order to identify the areas and real estate projects during his visit, in addition to consulting and detailed explanation of all the components of real estate in the city.
3) Receipt of the Vergi No tax number for buyers in Turkey – Tax number is a number given to every foreign tourist or resident in Turkey with the aim of facilitating all official transactions.
4) Opening an account for the buyer in a Turkish bank to transfer the value of the property from the country of residence to Turkey later. In addition to translating the Turkish passport.
5) Signing the contract for the purchase of the property The owner and the company – The purchase contract consists of several items written in Arabic and Turkish, signed by the buyer and the company at one of the company’s offices inside Turkey. Of course, this is done by paying the amount provided by the buyer, for which the property is booked until the title is officially received from the Land Department and the Land Registry in the city where the purchase was made. The following documents shall be attached to the purchase contract:
– Copy of the owner’s passport;
– Two solar photos for the Mushroom (no more than 6 months old);
– A copy of the building license and registration document in the municipality;
– A copy of the title deed of the property, to be transferred later to the new owner;
– Images of all company documents such as: license to establish the company, a copy of its record in the Chamber of Commerce and a picture of its business activity.
6) Adama is the foreign buyer is the first foreigner to buy from the project, the process of registration of the property in his name takes between 45 to 60 days, because of the investigation conducted by the military service of the Ministry of Defense in the Turkish capital Ankara immediately after the request for transfer of ownership of the property, This investigation is to ensure that the property is not located in areas that are prohibited to the possession of foreigners or in areas that may pose a threat to Turkish national security. In case of this military authorization, any other foreigner who buys from the project, the process of transfer of the title of property takes only two to three days because the military permission is issued for the whole project when the first foreign buyer to submit the title of ownership. Most of our projects have already been bought by foreigners, so the transfer process is easy and simple and takes two to three days at most. Also, if you apply for a property, we will tell you all about it from our sales representatives.
7) Once the military approval is obtained and the procedures are finalized with the competent authorities, the buyer shall be summoned back to Turkey. He must come within 15 days to receive the title deed and the key to the property and then pay the full amount to the construction company. The deed of ownership of the property is handed over to the Land Department and the Real Estate Registry, in the presence of both the buyer and the representative of the company, and also in the presence of an authorized interpreter who has been pre-assigned. The interpreter shall, at the moment of delivery of the bond, deliver some information relating to the property to the buyer in English clearly and comprehensively. The property is formally purchased by the employee in the department, not by the notary as is the case in most EU countries.
*** It should be noted here that if the buyer can not come to Turkey for reasons on time or for other personal reasons, the buyer may send another person on his behalf to finish the first stage of the purchase and sign the contract. He can also delegate a person to replace him with a title deed, but the latter needs an agency to be written by the notary public in the country where the buyer resides outside of Turkey. This agency must be certified by the Turkish Embassy in the same country.