Q 1: Do foreigners have the right to own property in Turkey? when was that ? how?
Yes, in September 2012 the Turkish Parliament passed a resolution allowing the right of foreign ownership in Turkey without regard to the principle of reciprocity.
Q2: What are the steps or procedures of ownership in Turkey?
First: Choose the right property and provide the following information:
a. Copy of the tabu (title deed) or real estate statement.
B. The location of property in the municipality map or the location statement.
C. Property number according to the municipality map (Private land).
Second: Taking the tax number from the tax department, which is very easy.
Third: Translation of the passport for the Turkish language and ratification by the notary public with 4 personal photographs.
Fourth: Signing the contract of purchase with the seller and make a payment first and preferably not more than 25% of the purchase value conditional on the approval of the security authorities, usually pays 25% of the value of the property , Until the transfer of ownership to the buyer from the competent authorities, then pay the rest of the full amount after the approval of the Directorate of the region and the security authorities.
Finally: Submit the application for transfer of ownership to the security authorities in this period, Please note that the approval of the security agency takes between one month to 45 days and we advise to pay the full amount after the approval of the security authorities.
When approval is made, the Land Registry Department (the instrument) is reviewed with the seller and it is preferable to bring an interpreter to verify the correctness of the data, the property number and the area.
Expenses that are due to the customer and seller selling and buying tax is approximately 3% of the value of the property, Tax 1% of the value of the property instead of the invoice value of the property and these are paid by the buyer.
Q3: What is the tax number? How do I get it?
Tax number in Turkey (vergı numarsı): Your own number is sometimes required in legal and official transactions or to open a bank account in Turkey, This number can be obtained without any consideration for an official residence in Turkey with ease through:
a. You must bring a copy of your passport and your address in Turkey.
B. Go to the nearest Tax Administration (vergı müdürlüğü) in your area and request this number from the employee.
C. The employee will enter your data into the computer and then give you a card with your tax number.
Q 4: How many properties do I can buy? What is the least time to buy a property in Turkey?
The number is not specified, and more than one person can own the same property, after the buyer chooses the suitable property the purchase does not take more than 3 days While the property’s transfer takes two months at most.
Q 5: What official documents should I take from my country to own in Turkey?
Q 6: Do I need a visa to enter Turkish territory? How much is the validity of the Turkish visa?
Yes, either at the airport or by the Embassy of the Republic of Turkey in your country, The period of the visa is 3 months renewable, and also you can get a 6 month renewable.
Q 7: After entering Turkish territory, do I have to check with the Department of Homeland Security for a formal residence? After owning the property, what about my residence in Turkey?
If you are planning to buy the property immediately there is no need to get a formal residence, you can get a formal residence for a year renewable after the own of the property for you and all members of your family in addition to your parents, If you stay longer than 3 months and you have not purchased the property, you can get a 6 month renewable residence.
Q 8: What is the means of transferring money from my country to Turkey?
You can easily open an account with any Turkish bank and transfer money.
Q 9: What is average price of property in Turkey? Is there an installment system?
This varies from one city to another and from one area to another within the city, But you can own an apartment Average of $ 60000, The installment system is available.
Q 10: Can I hire someone for me to run my property things in Turkey?
Yes, and that’s by a legal agency in your country, Then translate it into a translation and then authenticate it from the Turkish embassy in your country.
Q 11: What other expenses should be paid without the price of the property?
Real estate broker value 3%, One-time purchase tax, 3.9% of the total property value.
Q 12: What about property insurance in Turkey? Are there branches of international insurance companies?
Property insurance is available, Through branches of well known global insurance companies.
Q 13: After buying the property, how to increase the services of gas, electricity, water and the Internet? Then how do I pay the monthly returns when I am absent?
You should check with the gas, water and electricity companies to register in your name and pay a nominal insurance amount, Real estate companies also help you with property management service.
Q 14: How can I benefit from the property in the months when I am not in Turkey?
You can rent the property or offer it for real estate investment and the tenant can transfer your monthly payments to you through the bank.
Q 15: If the price of the property increases and I want to sell it, what are the procedures?
If you want to sell it befor 5 years from date of purchase, you must pay a tax up to 20% of the net profit to the Turkish Tax Authority.
Q 16: Can I come to Turkey with my personal car and register it in Turkey?
Yes, via land crossings or via sea ports without paying any taxes on condition you are taken out of Turkey within six months, and then the visitor will pay a financial tax.