Foreigners wishing to purchase Property Estate in Turkiye Should Know
In Turkiye in Turkiye, the acquisition of title to property ownership can only be approved after registration in the directorates of the land registry.
Preliminary real estate agreements made by notaries or signed by natural people in writing, don’t confer transfer of property per se. They are only a commitment to transfer ownership of the property; it is not the case that the property being transferred does not transfer ownership through these instruments.
For burdens like mortgages, liens, and similar types of restrictions that might be in place with regard to the said property that would prevent the sale thereof should be checked prior the initiation 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. Basic information about the property’s real estate status such as the current status and status, can be found online from any location in the world. Information about the personal details of the owner is not accessible, however.
Foreign nationals do not need to obtain a residence license as a pre-condition to acquire property in Turkiye. Foreigners who buy property in Turkiye are granted renewable short-term residence permits under Law No. 6458 on International and Foreign Protection.
Anyone who is legal or natural planning to acquire real property in Turkiye must submit a request in the General Directorate of Land Registry and Cadastre along with the owner of the property. They can also call their Alo 181 Call Center, that is available 24/7 or go to randevu.tkgm.gov.tr to schedule an appointment without needing to visit the directorates’ offices personally.
Turkish businesses with foreign capital, on the other hand, should first file an application at the Provincial Directorate of Planning and Coordination (PDPC) located at the governor’s offices in the area where the property is. If they receive a positive answer from PDPC the company should submit an application with the Land Registry Directorate. Companies can apply in person, through post or e-mail.
General Information
In Turkiye, the term “foreigner” can be defined according to three categories in relation to the purchase of real estate:
Foreign natural persons
Foreign legal entities
Turkish companies that have foreign capital
The article 35 in Law No. 2644, on Land Registry sets out provisions concerning the acquisition of real property by foreign natural and legal entities. Article 36 lays out the rules on foreign-owned businesses.
Countries that have nationals who are qualified to purchase real property in Turkiye are set by the Ministerial Cabinet of Ministers, who may decide to set special conditions for purchase if essential.
If they are granted permission, natural persons of foreign origin can purchase real estate in areas where private property is permitted (residential commercial, commercial or agricultural land etc. ).
If the real estate acquired does not include any previously built construction, the owner of the foreign origin is to apply for the relevant public agency within two years to develop a project.
A natural person of international origin can buy real estate and have limited rights to property rem in Turkey of up to 30 hectares. It is possible that the Cabinet of Ministers may grant larger areas when it feels appropriate.
Natural people of foreign origin can not acquire or lease real estate in military zones or military security zones. They can however buy and lease real property in security zones that are specifically designated with the permission of the governor’s office.
The total amount of acquisitions by natural persons of foreign origin may not be more than ten percent total district area in which private property is permitted. Foreigners’ request to acquire will not be accepted in the event that the ten percent limit exceeds.
In Turkey, only trading companies created in accordance to local laws in their nations and possessing legal personhood can obtain real estate and have limited rights to rem as foreign legal persons. Legal entities other than trading companies (foundations associations, foundations etc. ) However, legal persons other than such trading companies (foundations, associations etc.) on the other hand, cannot buy real estate and not have rights in rem.
Real estate acquisition by trading firms which are established in other countries according with the law of those jurisdictions and having legal status, on the other hand, may be granted in special circumstances and is considered to be possible only where it is permitted by the rules of international agreements or other special laws. Some of the codes specific to and which contain specific provisions on this issue can be found Law No. 6491 on Turkish Oil, Law No. 2634 concerning Tourism Incentive, and Law No. 4737 on Industrial Zones.
Note: When it comes to mortgages, a provision is made, allowing no restriction on the mortgages which can be granted over property in the favor of foreign natural and legal persons.
Companies that have been established in Turkey as a legal entity are categorized under the heading of foreign-owned businesses as per the following requirements:
Foreign investors hold fifty percent or more of the shares, or
Foreign investors are entitled choose to nominate and disqualify all or a majority of board members
They may also acquire properties and rights to a limited extent in rem in order to be involved in the activities specified in their constitutions.
To accomplish this, businesses must first apply to the governor’s office where the property is located.
On the other hand, if the real estate planned for acquisition is situated in a military zone that is prohibited or in a military security zone or a military security zone, the acquisition will be subject to the permission granted by the General Staff; and if the property is located in secure private zones, it shall be subject to the consent of the governor’s office in the respective region.
In the event of positive settlement of the application to acquire 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 carried out.
The following procedures do not require approval from the governor’s office, therefore your application with the Land Registry Office may be directly made without seeking permission.
In the process of mortgage creation
Real estate is acquired within the context of paying off a mortgage the beneficiary of a mortgage
Transfer of real estate ownership and the rights to rem in limited amounts arising from mergers of companies and demergers
Acquisitions in industrial zones organized by the government Industrial zones, industrial zones, technology development zones, as well as free zones
Acquired assets arising from operations deemed as loans within the scope of relevant banking legislation or to collect of receivables
In Turkey the rights of foreigners to inherit is protected. In the event of death of a non-native, the real estate owned by them will pass over to the inheritors. If the inheritor is eligible to take possession of the property (if they qualify according to nationality and if total limitation conditions for each person and across the country allow) the beneficiary can take possession of the property. Otherwise, such person is to transfer the real estate immediately. In the event of a delay, then the Ministry of Treasury and Finance shall sell the real estate and refund the proceeds to the heir.
Natural persons from abroad are permitted to be granted Turkish citizenship by means of special procedures after the purchase of real estate valued at USD 250,000 and greater. For more information on Turkey citizen by investment visit this website.
To achieve this Foreigners
Should purchase real estate that is worth at the minimum of USD 250,000
Should state in the application to purchase, that they purchased the real property to fulfill this requirement, the title deed should specify this, and the foreigner must declare that they will not sell the real estate for three years within the section of the form where the declarations are made.
After the procedures for registering land are completed after which the foreign national is able to make an application to the appropriate administrations to be granted the right of citizenship or residence. This is done by submitting the proof of eligibility that will be issued to the owner.
The land registry for the real estate, as well as information about the quarter/village, maps section construction, plot and independent section
Photo ID or passport issued by the country in whom the foreigner citizen (notarized or certified translations should be provided for passports and ID cards in alphabets other than the Latin alphabet)
If the procedure requires representation, the document that is required to represent (order regarding guardianship, letter of authorization, power of attorney etc.)
Document on the market value of the property that is issued by the local municipality
Mandatory earthquake insurance policy for buildings
A photo of the seller, and two images of the buyer (taken in the last six months, dimensions 6×4 cm)
An official interpreter who is certified if a person doesn’t speak Turkish
If the procedure is to be conducted by a third party authorized by means of a power of attorney granted abroad, that power must include an authorization regarding the procedure that is to be conducted. In addition, the power of attorney must meet the following requirements:
It is issued in the name of Turkish consulates with discretion regarding real estate
The authority responsible for the issue is able to issue power of attorneys internationally
The language used is that of the country in which it was issued.
Included photo (with a clear seal and signature on the photo)
Incorporates the apostil, if issued in a country which is a party to the Hague Convention
Should have certification of the signature of an official who has signed an authority. the relevant authority and the signature and seal of such authority should be verified at the Turkish Consulate if the power of attorney is issued in a state that is not a party to the Hague Convention
The application should also include a certified and notarized Turkish language translation that meets the required criteria.
Extraordinary Acquiring Citizenship
With (b) prefixed with the 1st paragraph Article 12 of the Law No. 5901 promulgated by the Supreme Court on July 28 the 28th of July, 2016;
The applicants who are granted a residence permit under (j) in the 1st paragraph Article 31 under the Law No. 6458, through investing within the scope and amount determined by the President
Foreigners holding the Turquoise Card
may acquire Turkish citizenship upon the decision of the President of the Republic of Turkiye.
The scope and the amount determined by the new rules released in the Official Gazette on September 18, 2018 are defined below. Foreigners who meet any of the following criteria could be eligible for Turkish citizenship, subject to the decision of Turkey’s President: Republic of Turkiye:
Making a the minimum investment for fixed capital in USD 500 000 or similar foreign currency as verified through Ministry of Industry and Technology. Ministry of Industry and Technology
The acquisition of a property with at least USD 400,000 or equivalent foreign currency, with a title deed restriction on its resale of at least three consecutive years, as attested through the Ministry of Environment, Urbanization and Climate Change
The creation of jobs for at least 50 people, as attested through the Ministry of Labor and Social Security
A minimum deposit for USD500,000, or an equivalent amount of foreign currency with banks operating in Turkiye with the condition it is not taken out of the account for at least 3 years, as attested through the Banking Regulation and Supervision Agency
Buy government bonds with at least USD 500,000 or equivalent foreign currency with the requirement that they not be offered for sale for at least three years as attested from 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 worth of USD500,000, or the equivalent in foreign currency subject to the conditions that they’re not sold for at least three years, as attested from the Capital Markets Board of Turkiye
Making a minimum deposit equal to USD 500,000, or similar foreign currency in funds approved by the Insurance and Private Pension Regulation and Supervision Agency with the condition of remaining inside the system of pensions for a minimum of three years, as certified through the Insurance and Private Pension Regulation and Supervision Agency
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