Property ownership in Turkey, is it possible for foreign investors to invest in the real estate sector in Turkey, and what are the conditions?

Many questions posed by investors and those wishing to move to Turkey about the possibility of ownership.

We will discuss and answer all related information on this topic.

 

Real Estate Ownership Law in Turkey

The Turkish Parliament passed a law granting the right of real estate ownership to all citizens around the world on the Turkish territories, nullifying the reciprocity principle except the passport holders of: Armenia, Cuba, North Korea, Nigeria.

Law No. 35 of Land Registrations Law No. 2644, amended by Law No. 6302, which was implemented on 18/5/2012, is the legal basis which allows foreigners to own and invest in real estate in Turkey.

 

Legal restrictions on foreign ownership of property in Turkey

1. Foreigners are allowed to own a maximum of 30 hectares equals 300 thousand square meters all over Turkey.
2. Foreigners are not allowed to own or lease property within 400 meters of all military barracks of the and strategic sites such as airports, seaports, oil and power plants and other cultural and religious centers of the Turkish state.
3. Foreigners can buy property in a region or town with a maximum of 10% of its total land area.

 

Types of real estate foreigners can own in Turkey

Foreigners are entitled to own all types of real estate in Turkey "residential - commercial - land - farms - factories - schools, etc.

 

Procedures to buy a property in Turkey

1. Choose the right property.
2. Sureness of the following information:
   • The title deed "Tabu".
   • Site statement: An official copy of the real estate site from the municipality plan.
   • Property number according to the municipality plan.
   • There are no restrictions that hinder the sale of real estate such as mortgages or inheritance issues
3. Extract tax number.
4. Translation of the passport to Turkish by a certified translator and certified by the Notary.
5. A primary "commitment to sell" contract in the presence of the notary signed between the buyer and seller in English and Turkish.
6. Checking the Land Registry within 15 days from the purchasing approval with the seller. It is preferable to have a certified interpreter to verify the accuracy of the data, the number of the property and its area.

 

Documents required for purchasing

Documents required from the buyer

• Tax number (Vergi No).
• Valid Passport translated to the Turkish and a certified by the Notary.
• 2 new personal photos of 4 x 6 not more than 6 months.

 

 

Documents required from the seller

• Property title deed.
• "Property Value Statement Document" is obtained from the competent municipality.
• A valid 4 x 6 personal photos not more than 6 months old.
• Copy of the building license and the registration document in the municipality.
• Copy of all company documents such as: Establishment license - Copy of the commercial registry no. "if buying from a developing company".

 

 

Inheritance of foreign-owned property

The foreign- owned property is automatically inherited to the husband, wife or children.