Who can buy a real estate in Turkey?

     1.   Foreign nationals (real persons) and foreign companies

According to the law on ‘property purchase by foreigners in Turkey’ enacted on January 7, 2006, foreign real persons and commercial companies having legal personality   established in foreign countries according to the laws of those countries will able to acquire real estate in Turkey on the conditions of being reciprocal and complying with   legal restrictions. In implementation of the reciprocity principle, it is essential that real estate acquisition rights given by a foreign country to its own citizens and to commercial   companies established in foreign countries according to the laws of these countries are also given to the citizens and commercial companies of the Republic of Turkey. 

   2. Companies established/participated by foreign nationals

Companies can freely acquire real estate or limited rights in rem through a legal entity established or participated in Turkey by foreign investors provided that such  acquisitions are permitted for Turkish citizens.

Reciprocity

Please email us and request the list of countries which have full-reciprocity regarding real estate acquisition.

 What is the legal framework for property ownership?

The Constitution, the relevant provisions of the Civil Code, the Title Deeds Act, the Foreign Direct Investment Law (Please look at pages to follow for the full text of the law.)   and  the relevant legislation form the legal framework which enables foreign people or corporate entities to buy real estate in Turkey.

Are Turkish citizens and foreigners treated differently?

According to the legal framework mentioned above, both Turkish citizens and foreign owners have equal property-ownership rights.

Purchasing and legal issues

Conveyance is executed in the Land Registry Office, which is a State Department. No other department, authority or person has the power to transfer deeds to your name.   The new owner of a property receives a “Title deed” (Tapu) in Turkish. Tapu is the official document proving ownership of a property.

Step by step guide to formalities

The property owner and the buyer sign a “Promise to sell and buy contract” before a Notary Public in most cases. This is an official document stating all the personal data of   the seller and the buyer as well as the property in question. The price of the property, details of the payment and the time of conveyance at the Land Registry Office are all   entered in this document. This document is signed by both parties in the presence of a Certified Translator appointed by the Notary Public. The Sworn translator translates   the contract to the foreign party.

An application is made to the Land Registry Office to start procedures for Military permission (this process may take a couple of months).

Parties or their legal representatives go in person to the Land Registry Office for conveyance upon receipt of the military permission. A Certified Translator is required when   one of the parties is a foreign national.

Expenses

Conveyance tax:

3% of the property value stated in the Tapu Office. This is paid at one of the State Banks at the time of conveyance.

Fee for certified translator at the Tapu Office:

50 Euro (A certified translator is required by law to translate the document to the foreign national).

Fee for certified translator at Notary Public:

50 Euro.

Registration Fee at the Tapu Office:

55 Euro.

Signing “promise to buy and sell contract” at Notary Public Office:

Starting from 350 Euro, approx. 1.2 % of the value of the property.