GUIDE ON HOW TO BUY PROPERTY IN ISTANBUL PROCESS 2020 TURKEY
This Real Estate Acquisition Guide Of Foreigners has been prepared to help foreign nationals who wish to acquire real estate in our country. However, this guide does not substitute the necessary professional consultancy services.
<p>This Real Estate Acquisition Guide Of Foreigners has been prepared to help foreign nationals who wish to acquire real estate in our country. However, this guide does not substitute the necessary professional consultancy services.</p> <p>1. LEGAL BASIS FOREIGNER MAY BUY TURKEY REAL ESTATE:</p> <p>The Land Registry Law No. 2644 was amended by Law No. 6302 which came into force on May 18, 2012 with the 35th amendment. In accordance with the article, reciprocity requirement for real estate acquisition of foreign real persons in our country has been abolished.</p> <p>Information can be obtained from the Embassies/Consulates of the Republic of Turkey and the General Directorate of Land Registry and Cadastre (Directorate of Foreign Affairs) and Land Registry offices about which country citizens are able to acquire real estate and limited real rights in our country.</p> <p>Real persons of foreign nationality can acquire all kinds of Real Estate (Housing, Business, land, Field) in terms of quality in our country, provided that legal restrictions are complied with. Real persons of foreign nationality must submit the project to be developed in the unstructured real estate they have purchased (land, Field) to the approval of the relevant ministry (Municipality, Provincial Directorate of Agriculture) within two years.</p> <p>2. FORM OF BUYING CONTRACT FOR <a href="https://turkishclassified.com/">TURKEY REAL ESTATE</a>:</p> <p>According to the legislation in force in Turkey, the transfer of Real Estate Property is possible with the official deed and registration to be signed in the land registry offices. </p> <p>It is possible to sign the “sales PROMISE agreement” before the notary public. However, it is not possible to acquire real estate property by means of “sales promise contract” or external sales contract signed before notary public.</p> <p>3. LEGAL LIMITATIONS ON TURKEY REAL ESTATE PURCHASE OF FOREIGNERS:</p> <p>a) a real person of foreign nationality can purchase a maximum of 30 hectares of real estate and obtain limited real rights throughout the country.</p> <p>B) military ban and security zones measurement studies have been completed in 81 provinces, whether the real estate is outside the military ban and security zones or not, by the Land</p> <p> </p> <p>Registry Directorate to ask the authorized command and the need to receive a positive answer for acquisition (except some districts) has been removed.</p> <p>c) real persons of foreign nationality may acquire real estate and limited real rights up to 10% of the face measurement of the privately owned district.</p> <p>d) legal restrictions do not apply in favor of commercial companies with legal personality established according to their legislation in foreign countries with real persons.</p> <p>E) the real estate acquired in violation of the provisions of the law; determined by the relevant ministries and administrations that it is used contrary to the purpose of acquisition; not applied to the relevant ministry in the period of the purchases provided that the project or the projects are not carried out within the period; are subject to liquidation provisions.</p> <p>4. BUYER AND SELLER APPLICATION AND METHOD FOLLOWED:</p> <p>The buyer must be"citizens of the country who can acquire real estate and limited real rights in our country and must bear the conditions of acquisition".</p> <p> Reference:</p> <p>The real estate owner or his authorized representative must make a preliminary application to the Land Registry Office.</p> <p>(Pre-applications are usually made before the lunch break by taking the number of the Land Registry Office.)</p> <p>If there is a deficiency in the pre-application conditions and it is possible to complete, the pre-application file is kept waiting.</p> <p> </p> <p>ONLINE <a href="https://turkishclassified.com/">TURKEY PROPERTY</a> TAPU APPLICATION:</p> <p>Citizens of the Republic of Turkey, (http://turkiye.gov.tr) or General Directorate of Land Registry and Cadastre (https://randevu.tkgm.gov.tr/) can obtain a sequence number from the appointment system. In addition, our citizens calling from abroad and Alo 181 line 90312.593 99 00 line can also make an appointment.</p> <p>REQUIRED DOCUMENTS FOR ONLINE TURKEY PROPERTY TAPU APPLICATION:</p> <p>a) title deed Certificate of Real Estate or Village / neighborhood, island, parcel, building, independent section information,</p> <p>B) identity document or passport (with translation if necessary),</p> <p>C) obtaining the "Real Estate Fair Value certificate" from the relevant municipality,</p> <p>D) Real Estate Valuation Report,</p> <p>e) for buildings (residential, workplace... etc.) compulsory earthquake insurance policy,</p> <p>f) 1 Copy of the seller, 2 copies of the buyer (within the last 6 months, 6x4 size).</p> <p>G) sworn translator if any party who does not speak Turkish,</p> <p>h) the original or certified copy of the power of attorney, together with its translation, should be processed by the power of attorney issued abroad.</p> <p> </p> <p> </p> <p>POWER OF ATTORNEY REQUIRED FOR TURKEY PROPERTY PURCHASE FROM ABROAD</p> <p> </p> <p>- Power of attorney issued by the embassy or Consulate of the Republic of Turkey.</p> <p> Turkish French October 5, 1961, “Apostille (Convention de la Haye du Octobre 1961)” in addition to the language of the country, such documents and power of attorney and Turkish translations of the Turkish Consulate in that place in the form of a certified photograph of the relevant power of attorney issued by foreign notaries in the language of the country is not required.</p> <p> </p> <p>- In addition, the signature of the notary public in the power of attorney issued by the notary public of foreign countries not party to The Hague Convention dated October 5, 1961, including the approved photograph of the relevant person in the language of the country, shall be approved by the authority to which the signature and seal of this authority are attached.</p> <p>FINANCIAL ASPECT OF THE TRANSACTION FOR TURKEY PROPERTY PAYMENT:</p> <p>a) the title deed fee shall be paid by both buyer and seller over the sale price, not less than the "Real Estate Fair Value"received from the relevant municipality. (The land registry fee rate determined according to the law on fees No. 492 is 2%.)</p> <p>B) the revolving fund fee determined locally is paid. (Up to £ 128 x £ 2.5 for 2019 )</p> <p>c) the service fee for the transactions that give rise to the ownership transfer debt made according to Article 35 of the Land Registry Law No. 2644 shall be collected by the land registry office as an additional cost to the revolving fund determined during the transaction and for the transaction.(For 2019: £ 598.25)</p> <p>5. OTHER ISSUES TO BE CONSIDERED BY FOREIGNERS WHO WANT TO BUY REAL ESTATE IN TURKEY:</p> <p>- On real estate, mortgage, lien etc. if there is a restriction or if there is an obstacle to the sale of the property, such matters should be checked by the relevant Land Registry Office.</p> <p>- In case of rejection of the application for real estate acquisition, an appeal application can be made to the Regional Directorate, which is affiliated to the Land Registry Office.</p> <p>- It is recommended not to work with people or companies that are not known to be expert and reliable.</p> <p>- It is not necessary for the foreigner to have obtained a residence permit in order to acquire real estate in Turkey.</p> <p>- In the event of a dispute between the parties concerning the acquisition of real estate, the case should be referred to the judicial authorities and a lawsuit should be filed in the courts of the Republic of Turkey.</p> <p>6. REAL ESTATE ACQUISITION OF FOREIGN LEGAL PERSONS IN TURKEY:</p> <p> 35 of the Land Registry Law No. 2644. According to the article, real estate acquisition of foreign legal persons in Turkey (other than easement or right of use) is essentially not possible. Commercial companies established in foreign countries, in the current practice, but special provisions of the law (Tourism Incentive Law No. 2634, industrial zones Law No. 4737, etc.) within the framework of easement or the right to use.</p> <p> </p> <p>This does not apply to the limitation of immovable pledge facility in favor of trading companies. Legal entities other than foreign trade companies (foundations, associations...) they cannot acquire real estate and limited real rights cannot be established in their favor.</p> <p>7. REAL ESTATE ACQUISITION OF FOREIGN CAPITAL COMPANIES IN TURKEY:</p> <p>Real estate acquisition of foreign capital companies in Turkey, 36 of the Land Registry Law No. 2644. Article, 16/08/2012 dated “2644 title deed law under Article 36 of the real estate ownership of companies and subsidiaries and limited real Rights Acquisition Regulation” and 2012/13(1735) organized by Circular No. Since these companies are established in Turkey and transactions are carried out on behalf of their legal entity, the nationality status of their partner or founder or the person who can personally acquire real estate in our country is not taken into consideration. There are no restrictions on the acquisition of these companies.</p> <p>In this context, according to the foreign capital ratio and partnership structure of the company determined by the authorization documents to be obtained from trade registry offices, the procedures are directed by considering whether to follow the application procedure to the Provincial Planning and coordination Directorate of the governorship within the scope of the related regulation.</p> <p> </p> <p> </p> <p> </p>