In this page, all the questions about real estate investments and real estate ownerships in Turkey will be answered. You can connect with us any questions about property for sale, ownership and title deed.
Q1: Do foreign people have a right to property aquisition in Turkey? When and How?
In 2012 September, Turkey parliament published a decree and from that day forward foreigns can take ownership in Turkey.
Q2: What are the procedures of ownership in Turkey?
- First: Choose the right property and prepeare the documents below.
- A copy of land register or title deed.
- A copy of the Mayor-council plan of the place you want to buy.
- The identity number of the property in mayor-council plan (for plots)
- Second: Take the tax identification number from tax administration.
- Third: Translate your passport to the Turkish and nottary approve it. Take 4 portrait photos of yourself.
- Forth: Sign a purchase contract with the seller and pay the property’s deposit. The deposit paid must be 25% of the property’s value.
- Lastly: Take an application for land ownership request. You may wait 1-45 days to approaval. During the approval go to the land registry office with the seller and be sure that your property identification number is correct. 3% of the property’s value is trading tax and it must be paid by the buyer.
Q3: What is tax number? Have can I take it?
In Turkey, you need a tax number for your financial affairs. You can take your tax number easily the ways below even though you don’t have residence permission.
Take your passport copy and take your address in Turkey, Go to any tax administration office and ask for a tax number.
They will process your data into a system and create a tax number for you. They will give you a card including your tax number.
Q4: Is it possible in Turkey like Gulf states that buy a property quoted from an Islamic bank?
Yes, you can buy a property if a bank in Turkey accept to buy and you can pay the price to the seller with installment.
Q5: How many property can I have? What is the minimum time that I have a property in Turkey?
For Arabic Gulf countries, there is no limit for purchase. Plus, more than one people can own a property together.
According to period, buying process will not be longer than 3 days. However cycle the property to the buyer will be maximum 2 months.
Q6: Which documents do I need to have for myself in Turkey?
Your passport will be enough for all your operations in Turkey.
Q7: Do I need a visa to get into Turkey? How long do I take my visa?
Yes, you need a visa to get into Turkey. You can take your visa from airport or Turkey Embassy in your country. The visa will take 3 months, it can be renewable. Also, you can take your residence permission for 6 months, it can be also renewable.
Q8: Do I have to go to security office to take a residence permission when I get into Turkey? After an ownership, what will my residence be?
If you are planning to buy a property immediately, you don’t need to take a residence permission. Because after buying a property you can take your residence for 2 years, renewable permission. However, if you don’t buy a property and stay more than 3 months you need to take residence permission for 6 months.
Q9: What does it mean to money transfer to Turkey? Is there any participation bank between Turkey and Gulf countries to make money transfer easier?
You can create a bank account in any bank in Turkey then you can transfer your money. If you want you can create a bank account from any Gulf participation bank like Kuveyt Turkish Participation Bank than you can take money like you are in your homeland.
Q10: What is an avarage cost a property in Turkey? Does it any installment system?
The cost of a property will change city to city but avarage cost will be 60.000$ and also you can pay the price with installment.
Q11: Do I authorise my lawyer to property business?
Yes, you can authorise your lawyer in your country, translate his/her authority (sworn translation) and can be have it approved from Turkey Embassy in your country.
Q12: What are the maturity expences except the property cost?
The owner of property need to pay 3% of property cost for real estate agent. Also the owner need to pay 3.9% of total property cost for trading tax.
Q13: What is real estate agency conditions in Turkey? Is there any worldwide insurance company?
Yes, earthquike insurance will be provide from worldwide insurance companies.
Q14: After buying a property, how can I take electricity, internet, water and natural gas services? And when I am not present here, how can I pay them?
You need to go to the administrative buildings to these services and you need to pay insurance and create a registration to your name.
Q15: When I am not in Turkey, have can I take benefit from my property?
You can rent your property and your renter transfer the money through the your bank monthly.
Q16: What are the procedures if a property’s value increases or if I want to sell the property?
If you want to sell your property before 5 years, you have to pay 20% of your property’s net profit to Turkish Tax Administration as a tax. After 5 years, you don’t need to pay taxes. Procedures can be changed if the property registired for a company.
Q17: Is that possible that I take my own car and register in Turkey?
Yes, it is possible but your car need to get in from ports or black border. If you will leave the country before 6 months, you don’t need to pay tax but if you will stay more than 6 months you have to pay tax.