Turkey attracts many foreign investors wishing to own a property in Turkey, whether apartments, villas, or even investment lands, and there are many questions about the procedures for buying these properties and the type of papers required to complete the purchase process, in addition to that many people have no idea about the subject of the tax number and how to obtain Real estate residence. It is also possible to ask how to transfer money to Turkey to buy a property; many other questions will be answered here.
FAQ about buying properties in Turkey
Yes, a foreign person has the right to own properties in Turkey, as stipulated by the Turkish Parliament in its decision issued in September 2012, according to which the right of foreign ownership is granted in Turkey without taking into account the principle of reciprocity.
First: Choosing the right property for the investor, which is compatible with his investment objective and commensurate with his budget, and providing the following documents and information:
- A copy of the title deed or the real estate statement.
- A statement of the property’s location is shown within the municipality’s plan, with the property number shown within this plan.
- Property number according to the municipality’s plan (for owning land).
- Four personal photos.
- The passport is translated into Turkish and certified by the notary.
Second: Obtaining the tax number from the Tax Department.
Third: Signing the purchase contract with the seller and paying 25% of the property value as a down payment, and then requesting to submit a request to transfer ownership to the region’s directorate and security authorities. Ownership within one day and extending to 45 days if a foreign person did not previously own the property.
Fourth: When the investor is informed of the approval, the title deed department must review the real estate registry (the title deed) with the seller. It is advisable to use a translator to verify the validity of the data and documents;
Both the buyer and the seller are subject to a tax called a sale and purchase tax amounting to 3% of the value of the property in addition to a tax on the buyer only and amounting to 1% of the property in exchange for an invoice allowance for the value of the property.
It is a number requested during legal and official transactions and is specific to each investor. It can also be ordered when opening a bank account in Turkey. The possibility of obtaining this number is not related to having an official residence in Turkey.
Yes, of course, if the bank in your country accepts the purchase of the property and then transfers the payments to the owner in Turkey.
The number of real estates a foreign person can own depends on the person’s nationality. For example, citizens of the Gulf countries can own an unlimited number of real estate. As for some nationalities, there is a limited number of real estate that can be owned (such as Palestinian nationality).
The duration of obtaining the property averages from one to three days since after the approval is issued, purchasing and transferring ownership only requires one day.