Foreigners wishing to purchase the Real Estate in Turkiye Should Know
In Turkiye the acquisition of title to property ownership can only be approved after registration with the directorates of land registration.
Preliminary real estate agreements that are signed by notaries or signed by natural people in writing, don’t confer the transfer of property in itself. They are only an obligation to transfer ownership of the property; it is not the case that the property itself is not transferred through these instruments.
The burdens of mortgages, liens and similar types of restrictions that could be in place in relation to the property which would hinder the sale of that property must be examined prior to the beginning of procedures with the appropriate directorate of land registration.
Inquiries about properties may be made online at parselsorgu.tkgm.gov.tr, where specific details of the city, district, quarter/village, map section, and plot may be used to look up the property. The basic information about the property’s real estate as well as its status can be accessed online from any location in the world. The personal information of the owner is not accessible however.
Foreign nationals are not required to possess a residence permit as a prerequisite to purchase property in Turkiye. Additionally, foreigners who purchase properties in Turkiye are issued temporary residence permits that are renewable under Law No. 6458 on International and Foreign Protection.
Anyone who is legal or natural who plans to purchase real property in Turkiye must apply for an appointment with the General Directorate of Land Registry and Cadastre along as the proprietor of the land. Additionally, they can contact at the Alo 181 Call Center, providing service 24 hours a day or visit randevu.tkgm.gov.tr to schedule an appointment, without needing to visit the directorates’ offices personally.
Turkish firms with foreign capital however they must first submit an application with the Provincial Directorate of Planning and Coordination (PDPC) located at the governor’s office in the town where the property is. If they receive a positive answer from PDPC the company should submit an application for approval to the Land Registry Directorate. The companies can apply by mail, in person or email.
In Turkiye the term “foreigner” can be defined in three categories in relation to the purchase of real estate
Foreign natural persons
Legal entities from outside the country
Turkish companies that have foreign capital
The article 35 in Law No. 2644 of Land Registry sets out provisions regarding the acquisition of real property by foreign natural and legal entities. Article 36 lays out the rules for companies that have foreign capital.
Countries that have nationals who are qualified to purchase real property in Turkiye are decided through the cabinet of Ministers, who may set out special conditions for purchases if they are deemed essential.
If they are granted permission natural persons of foreign origin can acquire real estate within areas where private property is permitted (residential commercial, residential land, agricultural, etc. ).
If the property acquired is not part of any construction that was previously constructed the person who owns the foreign-owned property must apply to the appropriate public administration within two years in order to create a plan.
Natural persons of foreign origin can acquire real property and limited rights in the rem of anyplace in Turkey that is up to 30 acres. It is possible that the Cabinet of Ministers may grant greater areas, if it is deemed necessary.
Natural people of foreign origin can not purchase and lease real estate in prohibited military zones or security zones. However, they can purchase and lease real estate in security zones that are specifically designated with the approval from the governor’s office.
The total amount of acquisitions by natural persons from a foreign country cannot be more than ten percent the total area of the district where private property is permitted. Foreigners’ requests for acquisition is not allowed when the ten percent limit exceeds.
In Turkey only trading firms that are incorporated in accordance with law of the respective countries and possessing legal status can acquire real estate and have limited rights in rem for legal entities from abroad. Legal entities other than trading corporations (foundations associations, foundations etc. ) On the other side, are not able to purchase real estate and not be entitled to the rem.
Real estate acquisition by trading firms that are based in foreign countries, according with the law of those countries and possessing legal status, on the contrary, can be granted in certain circumstances and is only permitted in accordance with the provisions of international conventions or specific laws. The codes that are specific and that contain provisions in the subject include Law No. 6491 regarding Turkish Oil, Law No. 2634 regarding Tourism Incentive, and Law No. 4737 on Industrial Zones.
Note: In the case of mortgages, an exemption is provided that there is no restriction on the mortgages that can be made over the property to benefit of legal and natural individuals.
Companies that have been established in Turkey as legal entities are classified under the category of foreign-owned businesses according to the following requirements:
Foreign investors own 50 percent or more the shares, or
Foreign investors have the right to nominate and remove most of the directors of their company.
The companies can acquire properties and rights to a limited extent in rem to carry out the activities described in their constitutions.
To accomplish this, businesses must first apply to the governor’s office in which the property is situated.
However in the event that the property to be acquired is situated in a military zone that is prohibited or a security zone for military the acquisition of real estate is subject to the approval from the General Staff; and if the property is located in an area of private security, it will be subject to the approval of the governor’s office in the region in question.
If there is a positive settlement of the application to purchase real property, the governor’s office will notify the business/enterprise as well as the Land Registry Office in writing to ensure that the registration can be completed.
The following procedures don’t require the approval of the governor’s office. Therefore, an application for the Land Registry Office may be directly submitted without requesting permission.
The creation of a mortgage
Real estate acquisition within the context of the cashing out of a mortgage by the mortgage’s beneficiary
Transfer of ownership of real estate and restricted rights in rem that arise from mergers of companies and demergers
Acquisitions in industrial zones that are organized or industrial zones, as well as technology development zones, as well as free zones
Acquisitions made as a result of transactions deemed to be loans in the context of applicable banking legislation or to collect of receivables
In Turkey the right of foreigners to inherit is protected. In the case of the death of a foreigner the real estate held by them will pass over to the inheritors. If the person who inherits is eligible to purchase the real estate (if they qualify by virtue of nationality and if the total restriction conditions for each person and across the country permit) the person who inherits may be able to keep the property they inherit. In other cases, the person has to transfer the property immediately. In the event of a delay, it is the responsibility of Ministry of Treasury and Finance will sell the property and pay the cost to the person who inherits it.
Natural persons from abroad have the option to obtain Turkish citizenship through special procedures after the purchase of real property worth USD 250,000 or more.
For further details on the Turkey citizen by investment get in touch with our team.
To achieve this for this purpose, foreigners:
Should purchase real estate that is worth at minimum USD 250,000
In the acquisition application, that they bought the real property for this purpose, the title deed must state this intention, and the foreigner must declare that they will not dispose of the property for three years within the area of the form in which declarations are made.
After the procedures for registering land are completed and the foreign national can make an application to the appropriate administrations to obtain the right to citizenship or residence by submitting the proof of eligibility that will be issued to the owner.
Registry of land for the real estate, or details on the quarter/village, maps section, construction, plot or an independent section
Passports or photo IDs issued by the country in where the person is resident (notarized or certified translations must be provided for passports and ID cards issued in other alphabets than the Latin alphabet)
If the procedure requires representation, a document pertaining to representation (order concerning guardianship, letters of authorization or power of attorney, etc.)
Document describing the current market value of the property issued by the municipality in question
The mandatory earthquake insurance policy must be in place for the structures
A photograph of the seller as well as two images of the buyer (taken in the past six months, in the size 6×4 cm)
A certified interpreter is needed if the party is not fluent in Turkish
If the procedure is going to be carried out by a third party authorized through a power of attorney granted abroad, that power should contain the authorization for the procedure that is to be conducted. In addition, the power of attorney must meet the following requirements:
The issue is handled through Turkish consulates, at the discretion of their respective on real property
Authorized by competent authorities to issue powers of attorney in foreign countries.
It is issued in the language of the country in which it was issued.
The package includes a the photo (with an unmistakable seal and signature on the image)
Incorporates the apostil, if issued in a country which is a signatory to the Hague Convention
Must be accompanied by a certificate of the signature of the official who signed the authority. the authority responsible and the seal and signature of the authority concerned should be confirmed through the Turkish Consulate in the event that it is issued in a country that was issued in a nation that is not a signatory to the Hague Convention
The application must also include a notarized and authenticated Turkish version of the powers of attorney which is in compliance with the requirements.
Extraordinary Gain of Citizenship
With (b) added in the beginning of Article 12 of the Law No. 5901 promulgated on the 28th of July 2016, and
Anyone who is granted an residence permit in accordance with (j) in the 1st paragraph Article 31 in the Law No. 6458, through investing in the amount and scope set by the President
Foreigners who hold the Turquoise Card
The possibility of acquiring Turkish citizenship on the basis of the decision of the President of the Republic of Turkiye.
The scope and the amount determined in accordance with the new regulations that were published by the Official Gazette on 18 September 2018, are described below. Foreigners who meet the following requirements may be eligible to apply for Turkish citizenship subject to the approval by president of Republic of Turkiye:
A minimal fixed investment in capital of at least USD500,000, or similar foreign currency, as certified through Ministry of Industry and Technology. Ministry of Industry and Technology
A property that is worth at least USD 400,000 or the equivalent foreign currency, with the restriction of a title deed on its resale of at least three years as confirmed through the Ministry of Environment, Urbanization and Climate Change
The creation of jobs for at least 50 people, as verified through the Ministry of Labor and Social Security
A minimum deposit in USD 500 000 or an equivalent amount of foreign currency at banks that operate in Turkiye subject to the condition that it is not taken out of the account for at least three years as confirmed through the Banking Regulation and Supervision Agency
Government bonds that are worth at least USD 500,000 or the equivalent in foreign currency, subject to the requirement that they not be sold for a minimum of three years, as certified through Treasury and Finance Ministry. Ministry of Treasury and Finance
Purchase of real estate investment fund shares or Venture Capital Investment Fund shares that are worth a minimum in USD 500 000 or the equivalent in foreign currency, subject to the condition that they’re not sold for a minimum of three years, as certified through the Capital Markets Board of Turkiye
A minimum contribution in USD 500 000 or similar foreign currency into funds deemed by the Insurance and Private Pension Regulation and Supervision Agency with the condition that it is within the pension scheme of private retirement for a minimum of three years as substantiated through the Insurance and Private Pension Regulation and Supervision Agency
Prime Property Turkey
Merkez, DAP Vadi, S-Blok, Ofis No:108-109, 34406 Kâğıthane/İstanbul, Turkey
+90 531 553 54 84