Questıon & Answer

MILITARY ZONEForeigners may not acquire properties in military forbidden zones further to the Military Forbidden Zones and Security Zones Law No. 2565.FORBIDDEN ZONESAcquisition by foreigners is not possible at the places included in strategic areas and special security zones defined by the President as areas where foreign real and legal persons may not acquire properties

Syrian nationals are not allowed to buy property in Turkey

A foreign real person may acquire properties and restricted real rights of up to 30 hectares maximum. The President may increase this size up to two times.

REAL ESTATE PURCHASE LIMIT IN ONE DISTRICT

Total area of properties acquired by foreign real persons and independent and continuous limited real rights may not exceed ten percent (10%) of the surface area of the subject district of the private property

ELIGIBLE REAL ESTATE CRITERIA FOR CITIZENSHIP

Investor can buy any type of immovable property such as condo, land, apartment, shop, field, cropland. In the field of agricultural land acquisition requests of foreign people, it is undertaken to obtain preliminary permits within the scope of agricultural legislation and to submit an agricultural project within 2 years, and in the case of land acquisition, land owner should provide a building licence project to the relevant Municipality within 2 years .

Investors can apply Turkish Citizenship by Agreement for the Promise to Sale

As applicable for 07.12.2018 and thereafter, the

application may be filed after an undertaking is provided not to transfer and cancel the agreement issued before the notary for a period of three years, provided that the minimum amount of USD 400.000 or equivalent thereof is paid in advance for real estates with condominium or construction servitude created thereon.

Investor can buy more than one property in the same or different cities with the same investment amount. Also Investor can buy at different times, however without completion of the minimum USD 400.000 investment amount, you cannot apply for Turkish Citizenship.

The real estate(s) that will be purchased cannot be registered under any foreign real person’s name including the applicant’s spouse and children. Furthermore, the real estate(s) cannot be one that was transferred after 12.01.2017 by the foreign person, their spouse or children or any foreign real person. In addition, the real estate subject to purchase must not be one of the real estates registered in the name of the company to which the foreign real person is the partner or manage

THE DOCUMENT REQUIRED IN ORDER BUY PROPERTY IN TURKEY FOR FOREIGNER BUYERS

Tax number obtained at Tax Offices in Turkey

Passport translation notarized copy that includes nationality

Power of attorney given to a lawyer or authorised translator

Evaluation report to be received from the firms authorized for valuation as licensed by the CMB (Capital Market Board) as published on the official website of CMB

Minimum sale price document obtained by municipality

THE PROCEDURE TO BUY PROPERTY IN TURKEY

Buyer chooses property interested in and sign a reservation form with a developer and pay for the reservation fee.

If it is necessary, buyer opens a bank account in Turkey

Buyer obtains evaluation report of the property

Buyer signs preliminary sale agreement

Buyer pays sale price through bank transfer

Developer apply for appointment day at registration office

Both sides pay taxes to title deed office through bank transfer

Developer and buyer and/or assigned lawyer will go to appointment for title deed transfer and sign sale agreement

Title deed certificate is obtained at the same day of title deed transfer

INFORMATION ABOUT THE TRANSFER TO BE MADE TO PURCHASE THE REAL ESTATE

Sale price must be deposited to the bank account of the seller or the seller’s authorized representative through such means as money transfer, EFT etc. by the purchaser or the purchaser’s authorized representative and must be documented.

For real estates owned by public institutions and enterprises, such as TOKİ and Emlak Konut, the transfer/payment of the price may also be evidenced by a certified bank receipt or official letter showing the amount received

Investment amount can be paid through investor’s personal account abroad or Turkish account to developer’s account. Investment money should be directly transferred from investor’s personal account.

If investor cannot directly transfer from his personal foreign account, we recommend to open an account in Turkey and transfer investment money to your bank account in Turkey. Lawyer can open a bank account with power of attorney or can assist investor and be present to open a bank account in Turkey.

Investment money also can be paid to branch that developer’s account is hold by lawyer or investor itself. In this case, different explanation should have be written to cashier.

The US dollar value of the property shall be calculated based on the amount stated at real estate value assessment report and the effective USD selling rate and / or cross exchange rate of the Central Bank of the Republic of Turkey on transaction date.

THE TITLE DEED COST BUYER RESPONSIBLE FOR

1.Title deed tax is %4 of sale price. Legally buyer has to pay only %2 of the sale price. However, this conditions may depends on the negotiation.

2.Revolving fund fee which is another type of tax charged by tax office, at the amount of 1600 TL in 2021.

3.Evaluation report fee between 2000-3000 TL.

4.If the project is new, opening facility fees, approximately 5.000 TL