REAL ESTATE - TÜRKİYE

 

  

 

Foreigners can buy real estate as a person in Türkiye

According to law no 2644 which was enacted in may 2012,  forigners can own real estate in Turkey as both a company and a person.

 

What are the conditions to be TURKISH CITIZEN ?

Buy property for 400.000 USD and not sell 3 years,

Invest commercial for 500.000 USD,

Employ 50 people,

Open the bank deposit account for 500.000 USD and keep in bank or state accounts for 3 years,

Become a Turkish Citizen with your family.

 

The following persons who provide limitless working and residence right to foreigners in Turkey and provide residence right to his/her relatives are given

TURQUOISE CARD

Persons  who are  deemed  compatible  for high - quality labor due to  their qualities  such as  educational level,   income,   occupational   knowledge and experience

and contribution to science and technology etc.

Persons who are high-quality invertors since they make industrial investment, realize export at significant level, and provide employment etc.

Scientists providing contribution to development in fields of science,  industry and technology and conducting studies deemed strategic in terms of country benefits

Persons  who have international  success in terms  of culture,  art  or sports  activities  and  have positive contribution to  international  promotion of Turkish culture.

 

  

 

Tax Rates and Advantages

VAT :  Foreign investors  who buy houses or workplaces in Turkey earn 18%  by not paying VAT  if they do not sell their first home or workplace  which  they bought within 1 year

Stamp Tax :  Stamp Tax which was around 09.48% is not paid at all

Title Deed Fee :  Title deed fee which was totally 4% before is paid at the rate of 3%. Buyer and Seller pay title deed fee with the respective rate of 1.5% and 1.5%

Earthquake Insurance : It is necessary to do it.The cost varies depending on the earthquake risk or structure of the zone.Annual fee is 200 USD for reinforced concrete structure 

Annual Real Estate Tax ;

Outside of big city municipalities and according to their fair value  Houses  % 01,  Lands  % 01,  Work Places  % 02,  Plots  % 03

In  big  city  municipalities  and  according  to  their  fair  value        Houses  % 02,  Lands  % 02,  Work Places  % 04,  Plots  % 06

 

Is that foreign nationals can receive Housing Loan in Turkey?

If they wish to purchase housing foreign nationals residing in Turkey to go to the bank, while housing loans can also refer to

 

Documents required for foreigners to prepare for sale

Photocopy of title deed

The municipality is known as the '' Fair Value '' document

Earthquake insurance for buildings '' DASK '' payment receipt

The Tax Identification Number, which will be obtained from the Tax Office

Photocopy of the passaport

2 names. picture. Must be drawn in the last six months and be 6 x 4 cm

If you are dealing with the power of attorney, the identity card of the person concerned and 2 names. formal

For foreign nationals who want to obtain a residence permit to buy real estate, residence permit issued by the police directorates.

 

  

 

About sales made by proxy

The power of attorney is valid only if it is issued in Turkish by the Turkish Embassy abroad.

If the power of attorney is in a foreign country notary party to the Hague Convention in the language of that country if it is arranged with the photograph of the person

and evicts "Apostille"

It can be translated into Turkish and the document can be approved without the approval of the Turkish consulate in that country. To translate,  the mandate  must be

authentic or certified

If  the  power of  attorney is issued  by a  notary public not party to the  Hague Convention,   in  the  language  of  the  country  and  with the photograph of  the person

This document is approved by the Turkish Consulate in that country

 

Transactions to be made in the Municipality, Tax Office and Notary Public before the sale

First, the title of the property is photocopied

All information about the municipal property is learned (what is the status of the construction, whether there is debt or other problems, can it be sold?)

Municipality den property '' Fair Value '' certificate

Taxpayers are required to obtain a"Tax ID Number" card from the Tax Office (to obtain title deed, to open a bank account, to have an Electricity-Water-Natural Gas subscription)

A Certified Translator is needed to translate the documents to be arranged at the notary

In the notary public the"Sales Promotion Contract"(Preliminary contract)is arranged and approved between theseller and the buyer(Sale price, payment and delivery conditions)

At this stage 10-30% of the deposit is paid. Payable in cash or by credit card, personal checks are not accepted by banks.

 

Transactions in title deed during the sales process

Documents related to title deed, property, seller and buyer are presented, pre-application is made and application number is taken

On the same day  the documents are  also  examined and sent to the  relevant  institution for approval of sale.  The documents  will be checked again at the institution and

if there is no problem they will be approved within 6 - 8 weeks

For sale in the property military zone, permission must be obtained from the military authorities

In case you are not in Turkey, you can benefit from your firm or private lawyer to provide notary public power of attorney

After the sale is approved, you will be contacted again for the sale of all the documents required

The sale will be completed within the same day.The buyer and the seller are notified of the time and the address to be made to the bank with the title deed phone number

After the seller pays the title deed and the buyer's debts, the deed will be at the time the parties are given an appointment

During the sales process, an interpreter has to make an official translation. 2 witnesses are also required (one witness may be an interpreter)

The deputy office organizes the documents.  The deputy director checks the documents and payment receipts, reads the sales contract to the parties,  and the parties sign

the sales document

The original title claim is delivered to the buyer or his lawyer. Sales records are kept in the land registry office and are always available

If there is a disagreement between the seller and the Buyer, they will be referred to the courts of the Republic of Turkey. A foreigner may also bring the case to his country

through the consulate

Electricity and Water subscription should be done after the title deed.

 

  

 

Documents required for application for residence permit

4 pictures (in normal sizes)

Passport original and photocopy (last entry page, the validity period and the contact information page)

Appointment Form

General health insurance

$ 500 bank account or currency exchange document for each month (USD 6,000 for one year)

Our Foreign Representatives (Consulate) mış Received from the Deed or Long Term Visa Dış

The documents to be taken from the Deed Directorate that the deed is on the person

One-year DASK insurance policy on behalf of the individual

Official letter of the title deed (current date from the title deed)

 

Which country' s citizens and what conditions can buy property in Turkey ?

A foreign national can buy up to  30 hectares of land - land in Turkey and buy land - land up to 10 percent of the land area of ​​a province

Foreigners must obtain permission from the relevant official agency to purchase property in prohibited military areas and security zones

Many citizens in the top list can buy property unconditionally in Turkey.16 If they are citizens of the country they must first obtain permission from the Ministry of the Interior

All Gulf States, Caucasus and European citizens can buy any kind of property in Turkey

In the Middle East,   Lebanese   citizens can buy any kind of property without any restrictions.   For citizens in the limit,   the limit is two houses and a business place

In the Middle East,  Iraqi citizens must first  obtain permission from  the Ministry of  Foreign Affairs. Iranian citizens must first obtain permission from  the Ministry of Interior

In the Caucasus,   There are no restrictions on Kazakhstan  and  Azerbaijan citizens but Russian and Ukrainian citizens can not buy property on the Black Sea coast

There is no limit for the citizens of Bulgaria who are in Europe with the border with Turkey but the citizens of Greece can not buy property in the coastal and border.