Real Estate Acquisition Processes of Foreigners in Turkey

  • Real Estate Acquisition Processes of Foreigners in Turkey

In recent years, the acquisition of real estate by foreign nationals in our country has started to accelerate. Among the reasons for this is due to improvements made to a number of incentive arrangements put forward by the Turkish Government in order for foreigners to invest more in our country. The aim of the regulations is for more foreign investors to come to our country and contribute to the economy. The most important of these regulations was carried out in 2012 with the amendment to the Land Registry Law.

With the amendment to the Land Registry Law No. 2644 in 2012, some new improvements have been made to the point of foreigners acquiring real estate in Turkey. This situation is explained in detail in Article 35 of the law in question. Accordingly, the number of foreigners acquiring real estate, which was previously limited to 2.5 hectares, was increased to 30 hectares by the regulation in 2012. It is also stated in Article 35 of the law that this figure can be doubled by the decision of the President, that is, up to 60 hectares. According to the relevant article of the law, the sale of real estate in military prohibition and security zones cannot be carried out. It is stated that the evaluation will be clarified by obtaining information from the command regarding the General Directorate of Land Registry Cadastral. This process has been abolished in 76 provinces (except some districts) where military bans and security zones have been completed.

How Does the Process of Acquiring Real Estate of Foreigners Work?

According to the legislation of the Republic of Turkey, the transfer of real estate can only be carried out by registering it by official contracts. At this point, a sales contract can be arranged between the parties in the first stage in the presence of a notary public. However, in order to complete the official process, legal application procedures must be made in the Land Registry Offices. Thus, the official registration will be carried out. It should be noted that the sales contract to be made here from the notary will not be enough on its own.

Foreign buyers must be from the citizens of the country who are not transportable in our country and can obtain limited in-kind rights and must meet the conditions of acquisition. There are 183 countries mentioned here, and which ones are specified to the buyers by the General Directorate of Land Registry and Cadastre.

First of all, the pre-application must be submitted to the Land Registry Office of the relevant place. For this purpose, the order of application must be obtained by the real estate owner from the General Directorate of Land Registry and Cadastre online or by telephone on Alo 181. Then the application documents must be submitted to the relevant Land Registry office in full within the relevant time frame.

The documents required in the application are as follows:

a) Deed certificate of real estate or information about village/neighborhood, island, parcel, etc.

b) Identification document or passport

c) Real Estate Fair Price Certificate regarding the real estate to be taken from the relevant municipality

d) Compulsory earthquake insurance policy for residential and workplace etc. buildings

e) 1 photo of the seller and 2 current passport photos of the buyer

f) Providing a sworn translator if any of the parties do not speak Turkish

g) Original or approved example of the power of attorney with its translation if a proxy is being processed abroad

All these procedures require professional consultancy services. As an Ankara-based company, MyTurkish ID provides all kinds of technical and legal support in the real estate acquisition processes of foreigners. MyTurkish ID Ankara, which has established itself in this market with nearly ten years of industry experience, stands by all kinds of problems of customers and solves processes quickly. Thanks to the lawyers it contains, the legal follow-up process can be initiated in case of any negativity during the acquisition of the property.

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