Guide for Foreigners to Acquire Real Estate in Turkey
1) UNINKABLE PROPERTY OF FOREIGN REAL PERSONS
The terms of im/zed ownership and limited rights of foreign real persons in Turkey are regulated by the Land Title Act m.35;
*Must be a citizen of one of the countries designated by the Council of Ministers taking into account foreign, international bilateral relations and country interests. (The ‘Terms of Reciliity’ have been abolished.)
*Across the country, a real person of foreign nationality can purchase up to 30 hectares (300,000 square meters) of im/ im/
*Real persons of foreign nationality may be im/zed up to 10% of the privately owned county area and may qualify for the same limited amount.
*Real persons of foreign nationality must present the project that they will develop in the unsymed realm (land, field) they purchased within 2 years for the approval of the relevant Ministry (Municipality, Provincial Directorate of Agriculture).
*Acquired in violation of the provisions of the law; determined by the relevant Ministries or Administrations that it was used in violation of the purpose of obtaining; applications or projects are not carried out within the period of purchases provided for the project; are subject to liquidation provisions. The property is liquidated, turned into a price and resaid to the right owner.
*Foreigners cannot acquire im/herds in areas where restrictions and prohibitions are imposed near military restricted areas, close to military security zones and close to strategic areas.
2) UNMISTIABLE INCOME OF FOREIGNERS THROUGH THE MIRAS
*The acquiring of im/ property through inheritance of foreign real persons also depends on the realization of the provision m.35/1 of the Land Title Law. I mean, the foreign heiress;
– to be a citizen of one of the countries listed by the Council of Ministers taking into account international bilateral relations and the interests of the country
– compliance with the provisions of other laws, such as the limitation of military prohibition zones.
– It is possible to obtain im/her property in Turkey through inheritance, as long as the total area of the independent and continuous limited rights with the acquired transports does not pass 10% of the area of the district subject to private ownership and 30 hectares.
3) UNSUSABLE ECONOMIC OF FOREIGN LEGAL PERSONS
* Deed Law m.35/2 provision ‘Trading companies with legal entities established in foreign countries according to the laws of their own countries can only obtain the same rights as im/hers and limited within the framework of the provisions of special law. Those other than these trading companies may not acquire ims and have limited rights in their favour. In favor of these trading companies and real persons of foreign nationality, the limitations contained in this article are not applied in the im/herd facility.’
In accordance with this provision;
‘Companies with legal entities established in foreign countries according to their own law’ can obtain im/her property in Turkey.
*Trading companies established in foreign countries may only be entitled to altitude or use in accordance with the provisions of the special law (Tourism Incentive Law no. 2634, Industrial Zones Act no. 4737, etc.) in the current application.
*Legal entities other than foreign commercial companies, i.e. ‘foreign associations, foreign foundations’, cannot acquire realms and have limited rights in their favor.
4) UNMIMILIABLE GOODS OF FOREIGN-FUNDED COMPANIES
* Provision m.36 of the Land Title Law;
– real persons of foreign nationality
– legal entities established in accordance with the laws of foreign countries
– international organizations
It includes ‘companies with foreign capital and legal entities established in Turkey’ where they have a 50% or more stake or have the authority to appoint or dismiss the majority of people who have the right to govern.
*Foreign-owned companies established in Turkey that do not carry the conditions specified in the title deed law m.36 provision may have im/her im/her im/herd ownership and limited rights in accordance with the provisions subject to domestic-owned companies.
*In this context, according to the foreign capital ratio and partnership structure of the company determined by the authorization documents to be obtained from the Trade Registry Directorates, transactions are directed within the scope of the relevant regulation, taking into account whether the application procedure should be followed to the Provincial Planning and Coordination Directorate of the Governorship.
5) APPLICATION, FEES AND REQUIRED DOCUMENTS
Reference;
* The im/zed maliki or authorized representative must make a preliminary application to the Land Title Office. (Preliminary applications are made by obtaining a sequence number at the Land Title Office.)
*If there is a deficiency in the pre-application conditions and it is in a position to be completed, the pre-application is put on hold.
Fees and Other Expenses;
* Deed fee is paid by both buyer and seller on the sale price, not less than the “Real Estate Rail Value” received from the relevant Municipality. (492 numbered Fees Act is determined by the land registry fee rate 2%.)
* Locally determined revolving capital fee is paid. (Up to $157 x $2.5 for 2019)
* In accordance with Article 35 of the Land Title Law no. 2644, the service charge is collected by the land deed directorate as an additional victim to the revolving capital price determined during the transaction and for the transaction. (For 2019: £733.25)
Required Documents;
a Deed of ownership in the land registry document or village/neighborhood), ada, parcel, building, independent information,
b) identity document or passport (if necessary, translation),
c) Obtaining the “Real Estate Rail Value Certificate” from the relevant Municipality,
d) Im memsmless Valuation Report,
e) For buildings (housing, workplace… etc.) compulsory earthquake insurance policy,
f) 1 photo of the seller and 2 photos of the buyer (in the last 6 months, size 6×4).
g) If there is a party that does not speak Turkish,
h) The original or approved example of the power of attorney with its translation if the power of attorney is made abroad.
Characteristics of the power of Attorney held abroad:
– Power of attorney sycaly organized by the Embassy or Consulate of the Republic of Turkey.
– The power of attorneys, which are organized by foreign notary notary in the country’s language, are certified according to the Hague Convention dated October 5, 1961, and if the ratification sherry contains the phrase “Apostille (Convention de La Haye du Octobre 1961)” in French as well as the language of the country, such documents and power of attorneys and Turkish translations will not be sought.
– In addition, the signature and seal of this authority are approved by the Turkish Consulate at that place by the authority to which the notary’s signature is attached in the power of attorneys, which includes an approved photo of the relevant in the country’s language by the notary of foreign countries who are not parties to the Hague convention dated October 5, 1961.
6)Form of Contract
*According to the applicable legislation in Turkey, the transfer of im/her im/her property is possible with the official promissity and registration to be signed in the Land Title Directorates.
*It is possible to sign a “sales promise agreement” in the presence of a notary. Signed in the presence of a notary public, however, “the promise of sale agreement” or external acquisition of immovable property with a sales agreement is not possible.
7) Advice For Foreigners to Pay Attention to
*Whether there is a mortgage, foreclosure, etc. restriction on the property or any other situation that interferes with the sale should be checked by the relevant Land Office.
*In case of rejection of the application for imm/am, an appeal can be made to the Regional Directorate to which the Title Deed Directorate is affiliated.
*There is no residence permit requirement for foreigners to obtain immaable in Turkey.
*In the event of any dispute between the parties regarding the imma property acquired, a lawsuit must be filed in the courts of the Republic of Turkey.
*It is recommended not to work with companies that are not known to be specialized and reliable.
