Sale of Property to Foreigners
Are there legal restrictions on foreigners in real estate?
- Foreign nationals, a person can buy a maximum of 30 hectares of real estate and limited real rights in Turkey can learn.
- Foreigners can acquire immovable properties up to 10 percent of the area in which the property is owned.
- It is not possible for foreigners to acquire immovable in security zones, especially forbidden areas, and to rent them without permission.
What to do when the foreign buyer buys a plot?
When foreigners purchase an immovable property such as land, field, they must submit the project they will develop on the land in question in order to get approval from the relevant ministry for two years at most.
Where is the transfer of immovable property to the foreigner?
According to the information shared by the General Directorate of Land Registry and Cadastre, the transfer of the immovable property is possible with the official deed and registration to be signed at the land registry offices, in accordance with the legislation in force in our country.
How long is the process of a foreign land who buy property in Turkey?
The process, which will cover an average of 4 to 8 weeks in the land registry, is waiting for the foreigners who purchase real estate.
What transactions should the foreigners make in the land registry while owning a real estate?
The title deed starts with the pre-application of the real estate owner or his authorized representative to the Land Registry. Following the receipt of the application number, the documents required to be kept by foreigners for the deed transactions are as follows:
- Title deed document.
- Identity card or passport. If necessary, translation of the passport can be requested by a sworn translator.
- One photograph of the seller and two photographs of the buyer. The photographs should be taken in the last six months and their dimensions should be 6 × 4 cm.
- Real estate fair value document from the relevant municipality.
- Mandatory earthquake insurance policy for buildings.
How are land payment payments determined for foreigners?
In the duties and taxes that are mandatory to be paid in the deed transactions, T.C. There is no difference between its citizens. In the purchase-sale transactions, 2 percent of the price of the immovable property is charged.