Foreigners can purchase real estate from Turkey even if they are not Turkish citizens. However, some conditions must be met for this purchase. Article 35 of the Land Registry Law No. 2644 includes provisions related to the subject. According to the regulations on the subject, the purchase terms are following:1- For citizens of foreign countries who can buy real estate, if the person purchasing the real estate to be bought from Turkey is a real person, the citizenship of the said foreigner must be of the countries permitted by the President of the Republic.
2- The total area of the immovable to be purchased cannot be more than 10% of the district in which the immovable to be purchased is subject to ownership.
3- Foreigners cannot buy or rent military and security-related regions of Turkey.
4- Legal entities (Trade Firms are exceptions) cannot make real estate investments in Turkey.
Real persons' right to purchase real estate in Turkey is limited to 30 hectares per person. However, this limit can be extended up to 60 hectares in cases where the President gives permission. In addition, the President has the authority to restrict or completely prohibit these borders. A purchase and sale transaction contrary to the above limits is not valid.
If the foreigner who wants to buy real estate in Turkey resides in Turkey, he/she cannot apply for a housing loan while purchasing a house. To apply for a Foreign Loan, one must personally go to the bank and apply. If a problem arises in the purchase and sale of real estate, the foreigner has to solve the problem in Turkish Courts. For effective representation, it is essential for a lawyer affiliated with the Turkish bar association to follow up by giving power of attorney to prevent loss of rights.Documents Required for Foreigners to Purchase Real Estate
1- Valuation report prepared by a real estate company with CMB License in the last three months
2- Title deed of the real estate
3- Passport photograph of the Seller and the Buyer
4- In case one of the parties does not speak Turkish, a sworn translator, and two witnesses
5- Document showing that Compulsory Earthquake Insurance has been taken out
6- Passport of the foreigner who will buy the immovable
7- Current Value Certificate obtained from the municipality where the immovable is located
It is necessary to apply to the Land Registry Offices with the above documents.
Citizenship Application with Purchased Real Estate
Foreigners who buy a house in Turkey can apply for citizenship by showing the real estate they purchased. The value of the real estate they purchased is above $250,000, according to the latest effective exchange rate of the Central Bank of the Republic of Turkey. The price is determined before the relevant immovable is purchased, and an application is made to the immigration administration to obtain a certificate of conformity. After the necessary certificate of conformity is received, the sale and purchase are carried out. For foreign citizenship application, he/she should apply to the Population Directorate with the certificate of conformity obtained from the real estate purchased.
According to the provisions of Article 12 of the Turkish Citizenship Law, foreigners who have invested in the Republic of Turkey and whose investments are above specific scope and amounts, and family members of these foreigners, who are listed in the law, can apply for Turkish citizenship by taking advantage of a unique way. In addition, foreigners who want to obtain Turkish citizenship can also apply by purchasing more than one immovable according to the relevant provisions. Here again, the condition is that the total value of the immovables is at least $250,000.Footnote
As can be seen, citizens of foreign states can purchase real estate from the Republic of Turkey. Disputes related to immovables and applications for exceptional citizenship over immovables are susceptible issues so that individuals do not lose their rights, and follow-up and assistance services from a lawyer registered with the bar association are essential. We provide professional services in the field of real estate in our Law Firm
Views: 7
