Steps to owning a property in Turkey and who can buy a property in Turkey?

  • 2 years ago
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Steps to owning a property in Turkey and who can buy a property in Turkey?

In light of the many facilities provided by the Turkish government in the real estate sector in Turkey, including buying and owning a property in Turkey, and the laws that guide the purchase process, and there are steps that the property or apartment buyer must know, Before buying any property, While many Arab and foreign investors coming to Turkey are looking to invest and own a property in Turkey, there are steps that must be taken to owning a property in Turkey, which are detailed steps that we explained to you in this article.

Steps to owning a property in Turkey

Every buyer of a real estate or apartment in Turkey must know the correct steps through which to own a property in Turkey correctly, which are:

  1. The buyer or real estate investor comes to the city and state in which he wishes to own and buy a property in Turkey.
  2. Studying the areas in Turkey in which the investor and buyer seek to own property, as he organizes exploratory tours of the areas and real estate projects available in Turkey, especially in Istanbul, He has to know the apartment, its advantages, and its proximity to land, sea and air transportation, through which the ownership of real estate in Turkey and many factors is achieved.
  3. When you buy a property and own a property in Turkey, you must go to a real estate company specialized in the field of real estate to obtain advice and advice and to obtain offers and real estate and investment opportunities offered by this company.
  4. When you select an apartment or property that you want to own in Turkey, you must do some legal matters that will make it easier for you to legally own real estate.
  5. Extracting the tax number (Vergi No) of the buyer or investor in Turkey
  6. Opening a bank account for the buyer or investor in a Turkish bank, In order to facilitate the process of transferring the value of the property from his country of residence to Turkey.
  7. Signing the real estate purchase contract between the buyer and seller, The purchase contract consists of several clauses written in Turkish, The contract is signed by the buyer and seller, An advance payment is made by the buyer, In order to reserve the property until the title deed is officially received from the Land Department and the Land Registry in the city in which the purchase was made.
  8. If the buyer or investor is the first foreigner to buy or invest in one of the regions in Turkey, Registering the property in the name of the new buyer may take between 45 to 60 days. This is in order to ensure that the property is not located in areas prohibited for foreign ownership, and to obtain permission from the competent authorities. As for any other foreigner who buys from the same area (after the approval of the first buyer is issued), the process of transferring the title deed takes from two to three days. It should be noted that the vast majority of projects available to us, Many properties in it were owned and purchased by foreign buyers and investors. So it has already been approved, To make the process of transferring ownership easy and simple and takes only two to three days.
  9. Receipt of the title deed and the key to the property, And pay the value of the property in full to the seller. Thus, the title deed of the property is delivered to the Land Department and the Land Registry. In the presence of the buyer and seller, In the presence of a sworn translator as well.

What are the documents required for a contract to buy an apartment in Turkey or to own a property in Turkey:

There are many documents required from you in order to hold a property ownership contract in Turkey, and these documents are:

  • A copy of a valid passport for the purchaser of the property or apartment.
  • Two solar photos of the buyer (no more than 6 months old).
  • A copy of the project building permit and its registration document in the municipality.
  • A copy of the property title deed, to be transferred later to the new owner.

Registration fees and taxes for owning a property in Turkey

  1. Translation and attestation of the buyer’s or investor’s passport to the Turkish language: $100 USD.
  2. Fee for obtaining a title deed (Tapu) in the name of the new owner: 90 USD.
  3. The tax for owning a property in the Turkish Republic is at the rate of: 3.9% of the total property value.
  4. Fees for calling a sworn “English-Turkish” translator registered with the Syndicate of Translators in Turkey: $100 USD.
  5. Fees for submitting an application for transferring ownership of the property (to be paid to the map office at the Land Department and Land Registry): 200 USD.
  6. Annual municipal fees, which are at the rate of: 0.03% of the property value, Payable at the city’s municipal palace every year in the month of May, This is in exchange for services related to the civil organization of the municipality.

Buying real estate in Istanbul

Istanbul has recorded a large and high real estate sales rate, as the percentage of real estate investments has increased in recent years. Turkey is one of the most preferred countries for Arab investors to buy real estate apartments in Turkey. One of the best areas to invest in Turkey is Istanbul, which has a charming and awesome aesthetic, great urban progress, strong infrastructure, and advanced and modern means of transportation.

Who can buy real estate in Turkey?

List of foreign nationals who can buy real estate in Turkey: The following foreign nationalities are absolutely not able to buy real estate in Turkey:

  • Armenia
  • Syria
  • North Korea
  • Nigeria
  • Cuba
  • Yemen

The following countries have some restrictions on buying real estate in Turkey, but they can still buy it anyway:

  • China
  • Jordan
  • Israel
  • Fiji
  • East Timor
  • Denmark

And some regions in Turkey impose restrictions on some foreign nationals regarding the purchase of real estate there, But these nationalities can buy real estate in other areas that are not prohibited:

  1. Russians and Ukrainians cannot buy real estate along the Black Sea coast of Turkey.
  2. Also, Greeks are not allowed to buy real estate in the Black Sea coast and some areas in the Aegean Sea in Turkey.
  3. Russians and Ukrainians cannot buy real estate along the Black Sea coast of Turkey.
  4. It also does not allow the Greeks to buy real estate in the Black Sea coast and some areas in the Aegean Sea in Turkey.

Citizens of the following countries, They can now own and buy a property in Turkey:

  • United Arab Emirates
  • Kingdom of Saudi Arabia
  • Lebanon
  • Kuwait
  • Azerbaijan
  • Kazakhstan
  • Turkmenistan
  • Uzbekistan
  • Kyrgyzstan

While nationals of 31 countries have restrictions on the type of property they can buy in Turkey:

  • Morocco – They are not allowed to own agricultural land.
  • Egypt – They are not allowed to own agricultural land.
  • Latvia – They are not allowed to own agricultural land.
  • Afghanistan – they are not allowed to own agricultural land, They must also obtain a permit to own any real estate or property of other types.
  • Albania – they can only buy residential and office properties in Trica, They are not allowed any other kind in the country.

The following nationalities need to obtain permission from the Ministry of Interior in Turkey before they can purchase:

  • China
  • Iran
  • Palestine
  • Iraq
  • India

While the following foreign nationalities can own a property in Turkey without the need for any special permissions or permits:

  • United States of America
  • germany
  • Argentina
  • Belgium
  • Belize
  • boys
  • Bosnia and Herzegovina
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Chad
  • Dominican Republic
  • Estonia
  • Ivory Coast
  • Finland
  • France
  • Gabon
  • Zambia
  • Guinea
  • South Africa
  • South Korea
  • Georgia
  • Croatian
  • Netherlands
  • United kingdom
  • Ireland
  • Spain
  • Sweden
  • Switzerland
  • Italy
  • Canada
  • Kenya
  • Republic of Northern Cyprus
  • Colombia
  • Kosovo
  • Libya
  • Lebanon
  • Luxembourg
  • Financial
  • Moldova
  • Monaco
  • Namibia
  • Niger
  • Norway
  • Poland
  • Portugal
  • Peru
  • Romania
  • Serbia
  • Slovakia

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