Many foreigners want to buy real estate in Turkey, especially after encouraging the Turkish government to invest through the Turkish citizenship program through real estate investment with an amount of at least 250 thousand US dollars, but there are still questions in their minds regarding the ownership law as foreign citizens, we will mention the most important ones and try To give an answer to it:
Does Turkey follow a policy of reciprocity?
The law of reciprocity with regard to the right to own property for foreign citizens on Turkish lands has been abolished, according to Article 35 of the Land Registration Law No. 2644, which was enacted on May 18, 2012, which allows foreigners the right to own property in Turkey even if their country does not allow Turkish citizens Ownership of its lands.
Do foreigners have the right to own and invest any type of real estate in Turkey?
Foreigners have the right to own and invest in Turkish lands, in any type of real estate they desire, whether residential, commercial, land or farms, but there are legal controls regulating foreign ownership of Turkish lands.
What are the controls that regulate foreign ownership of real estate in Turkey?
- A foreign citizen is not entitled to own more than a maximum of 30 hectares of immovable property, in all parts of the country.
- The total area of real estate owned by a foreign citizen must not exceed 10% of the area of the administrative region.
- Foreign nationals are prohibited from owning or renting real estate in the security and military areas or the areas close to them.
- A security and military approval is required for any foreign citizen who wishes to own or establish a foreign company in Turkey.
What are the papers needed to transfer ownership in Turkey?
- Tax number that contains the personal information of a foreign citizen, with the aim of using it in official transactions, and is obtained from any tax department in Turkey.
- Real estate appraisal report obtained from real estate appraisal companies accredited by the Turkish government and registered with the Land Registry Department.
- A copy of the passport, translated and certified by a notary public.
- Two personal photos with dimensions of 6 x 4 and must be dated no more than 6 months.
How does the transfer of ownership work?
The process of transferring ownership varies according to the purchase status, if it is cash or in installments:
Cash purchase condition:
Initially, an appointment must be booked at the Land Registry Directorate, in the municipality to which the desired property belongs, and all the required papers must be delivered to them. Then a text message will be sent with the transaction number to pay the fees and ownership tax, which is 4% of the apartment price, to be paid equally between the seller and the buyer. .
Both parties, the seller and the buyer, go to the Directorate of Land Registry, and the ownership transfer process is signed after making sure of all the information and that the property is free of any mortgage or seizure, in the presence of the responsible employee and a translator sworn by the state, and then the title deed is delivered in the name of the owner The new property.
Installment Purchase Status:
In this case, the process of transferring the TAPU (title deed) is not done directly until after the completion of the payment of the installments due on the property, where a sale-purchase contract is signed between the owner company and the buyer, and this contract can be ratified at the Turkish notary to guarantee the rights of both parties, and consequent On the certification process, fees are paid to the notary, which vary according to the price of the registered property and the number of pages of the sale and purchase contract, and after the end of the installments, the ownership is officially transferred in the TAPU Directorate from the construction company to the name of the new owner of the property that was purchased under the previously concluded contract.