Foreigners are entitled to own all types of real estate in Turkey “residential – commercial – land – farms – factories – schools, etc.
Yes, foreign companies can own real estate in Turkey.
- Property title deed.
- “Property Value Statement Document” is obtained from the competent municipality.
- A valid 4 x 6 personal photos not more than 6 months old.
- Copy of the building license and the registration document in the municipality.
- Copy of all company documents such as: Establishment license – Copy of the commercial registry no. “if buying from a developing company”.
- Earthquakes insurance certificate
- Tax number.
- Valid Passport translated to the Turkish and a certified by the Notary.
- 2 new personal photos of 4 x 6, not more than 6 months old.
Only passport will be enough to own a property in Turkey.
Is it possible for more than one person to participate in the ownership of the same property and be registration for all partners?
Yes, according to the Turkish law on the foreigner’s ownership, more than one person with no family relationship has the right to own the same property and the ownership deed of the property is registered with all the partners’ names.
This term refers to the landlord’s rights inherit, trade or lease the property whenever wanted.
When buying a property in Turkey, this includes land ownership and the property and it is a lifelong freehold and it is automatically inherited to the husband or wife or children.
The title deed is a legal document which proves that your ownership rights of your property in Turkey. All official title deeds are registered in the Land Registry Office.
Proceedings may take 6-4 weeks after the property is purchased.
- Obtaining the tax number which is granted to every tourist or foreigner residing in Turkey in order to facilitate the official transactions.
- Translation of a valid personal passport and ratification it at the notary.
- Opening an account Turkish bank.
- 2 personal photos.
- Signing the purchasing contract in the presence of Prestige Istanbul Real Estate company’s the lawyer to ensure your safety and contracts validity.
- If purchasing from the developer of the project directly, the contract is signed between the buyer and the developing company and usually the contract is in English and Turkish.
- In case purchasing from the property owner, the contract shall be signed between the buyer and the owner and must be registered in the notary to commence with the procedures of title deed transfer
- If the buyer is the first foreigner to buy in the project, a military approval must be obtained to allow the ownership of the foreigners in this area. It may take from 1 month to 45 days to obtain the approval.
Yes, by giving an authorized attorney through the Turkish embassy or consulate in your country, or through the Notary in case you are in Turkey.
The tax number is an official number you get from one of the tax departments.
it may be needed for legal and official transactions or to open a bank account in Turkey.
This number can be obtained regardless having a residence permit in turkey and it’s obtained as follows:
- Bring a copy of your passport and providing you’re staying address in Turkey.
- Visit to the nearest tax department and request this number.
- Department employee will provide you with a card with your tax number.
Yes, tax system is equivalent for all and paid by Turkish and foreign alike without any discrimination.
The value of the registration tax and the transfer of ownership of the property is 4% of the property purchasing price. It paid only once by the buyer after the completion of the purchase and paid to the Turkish state.
In case purchasing in an under-construction project, this tax shall be paid after the completion of the project and property is delivered.
Yes, there are limited annual taxes on residential properties equals 0.002% of the property value.
The buyer and the seller pay 3% separately of the of the property value to the broker.
The annual rental tax is 15% of the total annual rent.
The profit tax is only paid if the property it re-sold within 5 years of the first purchasing date and is calculated as 35% of the difference between the present selling value of the property and its value when it was sold at the first time.
If a property is sold after 5 years from purchasing date, a tax exemption is obtained by law right.
The monthly expenses paid to the complex management for cleaning, maintenance and guarding services and the complex facility usage of swimming pools, gyms, sauna, etc.
It is approximately 3 – 4 Turkish lira per square meter of the property gross area.
Yes, there are many local and international insurance companies.
Insurance against earthquakes and natural disasters known as “DASK”, and it is mandatory insurance and a legal condition that must be fulfilled.
The insurance is a must the property registration and obtaining the title deed. It is renewed annually and depends on the value of the property.
Yes, related to water, electricity and gas subscriptions, paid only once after receiving the property.
In addition to the monthly expenses related to electricity, gas, water and internet bills and is fully dependent on personal use.
Yes, the Turkish law provides the right of a foreigner to obtain a life-time residence permit, bearing in mind that it is renewed annually after proofing that the property is still registered on you name and has not been sold.
Wife and children under the age of 18.
No, you can buy a property in Turkey without the residence permit.
According to the current nationality law in Turkey, foreigners can obtain Turkish citizenship by purchasing a property worth at least $ 250.000, with a pledge not to sell it for three years.
The property owner and all his first-class family members gains the right as well.
Yes, owner can re-sell his or her property after obtaining Turkish citizenship only after a period of 3-years of the purchasing date.