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Owning a property in Turkey

Posted by njoud on June 20, 2020
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Owning a property in Turkey

To know more about real estate ownership in Antalya Turkey house for sale, especially foreign ownership of apartments, villas and offices in Turkey, we recommend that you read this article. When you have apartment for sale Alanya you can contact with us and we will do our best for correct way.

People interested in purchasing the property ask many questions, such as:

How to buy a property in Turkey?

What are the required procedures and official papers to transfer ownership of real estate purchased in Turkey?

What is the tax number?

The possibility of buying a property in Turkey by financing Islamic banks?

What is the percentage of real estate allowed to buy for foreigners in Turkey?

How to extract real estate residence, and how to transfer money to Turkey in order to buy a property?

What is the average price of real estate in Turkey?

Is there an installment system?

Is it possible to appoint a person to manage the purchase of real estate in Turkey?

What is the real estate tax?

What about real estate insurance in Turkey?

How to manage property affairs remotely after purchasing it?

Q1: Are foreigners entitled to own property in Turkey? when was that? And how?

Yes, in September 2012 the Turkish Parliament passed a resolution providing for the right to own foreigners in Turkey without taking into consideration the principle of reciprocity.

Q2: What are the steps or procedures for ownership in Turkey?

First: Choosing the right property and providing the following information:

a. A copy of the title deed or property statement.

B. A copy of the real estate site in the municipality plan or a site statement.

C. Real estate number according to the municipality plan (for owning land).

Second: Taking the tax number from the tax office, which is a very easy process.

Third: translation of the passport into Turkish and notarized by the notary “Notre” with 4 personal photos.

Fourth: Signing the purchase contract with the seller and submitting his first payment, preferably not more than 25% of the purchase value, subject to the approval of the security authorities and often pays 25% of the value of the property until the ownership transfer process is done to the buyer from the competent authorities and then pays the rest of the full amount after taking approval from District directorate and security authorities.

Finally: Submit a request to transfer the property to the security authorities, “But if he had previously owned a foreigner, the property can be transferred in one day” and approval takes 45 days “if the property is in a building where a foreigner does not own.” We recommend that you do not pay the full amount until after obtaining approval from the security authorities.

Upon issuance of the approval, the Land Registry Department reviews the instrument (the instrument) with the seller, and it is preferable to bring an interpreter to verify the data, property number and area; However, all these services and procedures are provided to its customers and investors by a freehold company, as part of the after-sales services.

As for the expenses that are due on the customer and seller from the purchase and sale tax, they are approximately 3% of the property’s value. And a tax of 1% of the property’s value against a bill for the property’s value, which is paid by the buyer.

Q3: What is the tax number? How do you get it?

Tax number in Turkey (vergı numarsı): It is your own number that is sometimes required of you in legal and formal transactions or to open a bank account in Turkey, and this number can be obtained regardless of the existence of an official residence for you in Turkey with ease, through:

a. Bring a copy of the passport and knowing the address of your residence in Turkey.

B. Go to the nearest tax administration (vergı müdürlüğü) in your area and request this number from the relevant employee.

C. The employee enters your data into the computer and then gives you a card with your tax number.

Q4: Is it possible to buy a property in Turkey by financing an Islamic bank as is the case in the Gulf countries?

Of course it is possible, if the bank in your country accepts the purchase of the property and then transfers the payments to the owner in Turkey.

Q5: How many properties are you allowed to own?

For citizens of the Gulf states, the number is not specified. More than one person can own the same property, and some nationalities have a specific number, such as Palestinian citizenship.

What is the minimum period of ownership of a property in Turkey?

On average, from one to three days, after accepting the order, the purchase and transfer of ownership takes no more than a day.

Q6: What are the official documents you must bring from your country to own property in Turkey?

Only the passport.

Q7: Do you need a visa to enter the Turkish lands? How valid is the Turkish visa?

Some nationalities do not need any visa and can stay for 3 months annually in Turkey, and some nationalities need a visa either from the airport or by checking with the embassy of the Turkish Republic in your country, the visa period is 3 months renewable, but you can obtain a residence for a period of two years renewable.

Q8: After entering Turkish territory, do you have to go to the Wish Department to obtain an official residence after owning the property? How about your stay in Turkey?

If you are planning to buy the property immediately, there is no need to obtain an official residence, you can obtain an official residence for a year renewable after ownership of the property for you and all members of your family (wife and children under the age of 18), but if you stayed more than 3 months and did not buy the property, you can obtain Stay for 6 months, renewable.

Q9: What is the banking method for transferring money from your country to Turkey? Are there common banks between the Gulf countries and Turkey to facilitate the transfer of funds?

You can open an account with any Turkish bank very easily and then transfer money or by opening an account in a Turkish Gulf joint bank such as the Kuwaiti Turkish joint bank and its branches like the Kuwait Finance Bank in Kuwait then you can withdraw the funds as if you were in your home country. Antalya Turkey house for sale

Q10: What is the average real estate price in Turkey? Is there an installment system?

This varies from city to city and from one region to another within the city, but you can own an acceptable apartment for $ 65,000, and the installment system is available. Apartments for sale Alanya Antalya Turkey house for sale

Q11: Can you appoint a person to manage the real estate affairs in Turkey?

Yes, by appointing a legal agency through the Turkish embassy or consulate in your country, or through a notary “Notre” in case of wanting to give the agency from within Turkey. Antalya Turkey house for sale

Q12: What are the secondary expenses that must be paid except for the property price?

Real estate broker and its value: 3% one-time purchase tax, 3.9% of the total property value. Apartments for sale Alanya

Q13: What about real estate insurance in Turkey?

Earthquake insurance is available through branches of well-known international and local insurance companies.


Q14: After purchasing the property, how do you provide it with gas, electricity, water and internet services? Then how do you pay your bills when you are away?

You should check with the gas, water and electricity companies to register the meters in your name and pay a minimum security amount. Apartments for sale Alanya

Q15: How can you take advantage of the drug in the months when you are not in Turkey?

You can rent the property or offer it for real estate investment, and the tenant can transfer the monthly payments to you through the bank. Apartments for sale Alanya

Q16: If the price of the property increases and you want to sell it, what are the procedures for that?

If you want to sell 5 years before the date of purchase, you must pay a tax according to certain segments of people that the Turkish government announces annually and ranges between 15-35 percent of the net profit value.

As for companies, the profit tax is fixed and is 20% of the net profits of the company’s business, but if After 5 years I wanted to sell, there is no tax, as it differs if the property owner is a company and not an individual investor. Apartments for sale Alanya

Q17: Is it possible to come to Turkey with your personal car and register it in Turkey?

Yes, it is possible, through land crossings or through seaports without paying any taxes, provided that they are removed from Turkey within six months, after which the visitor must pay a financial tax.

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