As a pioneer company in Real-Estate investment and consulting, we put in your hand all you have to know about acquiring property and citizenship in Turkey.
What foreigners need to know about acquiring property and citizenship in Turkey
- In Turkey, acquisition of property ownership titles may only be approved upon registration at the land registry directorates.
- Preliminary real estate contracts, issued by notaries or entered into by natural persons in writing, do not confer transfer of property per se. They only serve as a commitment for the transfer of ownership; the property in question does not change hands by means of such instruments.
- There are burdens such as mortgages, liens, and similar types of restrictions that may exist with regard to the said property, ِwhich would prevent the sale of property. So you should check it prior to the initiation of procedures at the respective land registry directorate.
- You can quire about property online at parselsorgu.tkgm.gov.tr. Where you can use specific details of the city, district, quarter/village, map section, and plot to look up the property. Notice that, the basic information on the real estate property, including its current status, is thus accessible online from anywhere in the world. But personal information of the owner remains inaccessible, however.
- Foreign nationals do not need to have a residence permit as a pre-condition to acquire real estate in Turkey. In addition, foreigners who acquire property in Turkey are granted renewable short-term residence permits under Law No. 6458 on Foreigners and International Protection.
- A natural or legal person intending to acquire real estate in Turkey has to apply to the General Directorate of Land Registry and Cadastre together with the owner of the property. In addition, they may call the Alo 181 Call Center, offering service around the clock, or visit randevu.tkgm.gov.tr to make an appointment without having to visit the directorates’ offices in person.
- Turkish companies with foreign capital, on the other hand, should first file an application at the Provincial Directorate of Planning and Coordination (PDPC) at the local governor’s office where the real estate is located. Once granted a positive response from PDPC, they should then apply to the Land Registry Directorate. These companies may apply in person, via post, or e-mail.
- Foreign natural persons
- Foreign legal persons
- Turkish companies with foreign capital
More information about acquiring property and citizenship in Tukey
- If you get permission to own property, you may acquire any real estate in areas where the government allows private property (residential, commercial, land lot, agricultural etc.).
- If the real estate acquired does not include any previously built construction, the owner of the foreign origin is to apply to the relevant public administration within two years in order to develop a project.
- A natural person of foreign origin may acquire real estate and limited rights in rem anywhere in Turkey of up to 30 hectares. The Cabinet of Ministers may grant larger areas if deemed appropriate.
- Natural persons of foreign origin may not acquire and lease real estate within prohibited military zones or military security zones. However, they may acquire and lease real estate within special security zones upon permission of the governor’s office.
- Total acquisition by natural persons of foreign origin may not exceed ten percent of the total district area where government allows private property. To clarify, the government don’t allow foreigners’ request for acquisition in case they exceed a ten percent limit.
- Foreign investors hold fifty percent or more of the shares, or
- Foreign investors are entitled to appoint and dismiss the majority of the board of directors
- Creation of mortgage
- Acquisition of real estate within the scope of cashing out a mortgage by the beneficiary of a mortgage
- Transfer of real estate ownership and limited rights in rem arising out of company mergers and demergers
- Acquisitions in organized industrial zones, industrial zones, technology development zones, and free zones
- Acquisitions realized due to the transactions considered as loan within the framework of the relevant banking legislation or for the purpose of collection of receivables
In Turkey, foreigners’ right of inheritance is protected. In the event of a foreigner’s death, the real estate owned by them shall pass to their inheritors. If the inheritor is eligible to acquire the real estate (if they are eligible in terms of nationality and if the total limitation conditions per person and throughout the country allow), the inheritor may then keep the inherited property. Otherwise, such person is to transfer the real estate immediately. Otherwise, the Ministry of Treasury and Finance shall sell the real estate and reimburse the price to the inheritor.
- Shall purchase real estate worth at least USD 250,000
- Shall state, in the application for acquisition, that they purchased the real estate for this purpose, the title deed should state this purpose, and the foreigner shall declare that they shall not sell the real estate for three years in the section of the form where declarations are made.
- Land registry of the real estate or information on the village/quarter, map section, plot, building, and independent section
- Photo ID or passport issued by the country of which the foreigner is a citizen (notarized and certified translations should be submitted for ID cards and passports issued in alphabets other than the Latin alphabet)
- If the procedure involves representation, document regarding representation (order regarding guardianship, letter of authorization, power of attorney etc.)
- Document on the current market value of the real estate issued by the relevant municipality
- Mandatory earthquake insurance policy for the buildings
- A photo of the seller and two photos of the purchaser (taken within the last six months, size 6×4 cm)
- Certified interpreter if a party does not speak Turkish
- Issued by Turkish consulates at their discretion over real estate
- Issued by competent authorities entitled to issue power of attorneys abroad
- Issued in the language of the country where it is issued
- Includes photo (with a clear seal and signature over the photo)
- Includes the apostil, if issued in a country that is a party to the Hague Convention
- Should have certification of the signature of the official signing the power of attorney by the relevant authority and the signature and seal of such authority should be certified by the Turkish Consulate if the power of attorney is issued in a country that is not a party to the Hague Convention
With (b) prepended to the first paragraph of Article 12 of the Law No. 5901 promulgated on July 28, 2016;
- Those who obtain a residence permit further to (j) of the first paragraph of Article 31 of the Law No. 6458, by investing within the scope and amount determined by the President
- Foreigners holding the Turquoise Card
- Made a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira, as attested by the Ministry of Industry and Technology
- Acquired a property worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years, as attested by the Ministry of Environment and Urbanization
- Created jobs for at least 50 people, as attested by the Ministry of Family, Labor and Social Services
- Deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years, as attested by the Banking Regulation and Supervision Agency
- Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years, as attested by the Ministry of Treasury and Finance
- Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years, as attested by the Capital Markets Board of Turkey