Buying a property in Turkey … the ownership of foreigners in Turkey
Ownership of foreigners in Turkey, how are its procedures, and does a foreigner have the right to invest in the real estate sector in Turkey, and what are the conditions for that? All these questions are asked by investors and those wishing to own and reside in Turkey, of all nationalities, about the possibility of Iraqi ownership. Or the Egyptians, or the Palestinians, or the Sudanese. Therefore, we will put in your hands all the answers that you are asking about and are looking for related topics.
The real estate market in Turkey has recently gained wide fame, and Turkey has become the best choice for Arab investors who are interested in looking for apartments for sale, such as Iraqis owning in Turkey, Egyptians owning in Turkey, Palestinians owning in Turkey, or other things. Based on this, foreigners’ ownership of real estate in Turkey is a big step that requires the investor to carefully study the Turkish real estate market before entering the world of investment and real estate ownership. Therefore, the investor should familiarize himself with the laws of foreign ownership in Turkey of real estate in order to protect himself and his money from falling victim to the trap of real estate fraud. With this, I ask you to give us the opportunity to shed light on everything the investor needs to know about foreign ownership laws in Turkey for real estate.
What is the foreign ownership law in Turkey for real estate?
The Turkish Parliament issued a law allowing foreigners to own property in Turkey on all of its lands, canceling the reciprocity law, which stipulates that ownership is only allowed for citizens whose countries allow Turkish ownership in it. Only some countries were exempted from this law, such as: Armenia – Cuba – North Korea – Nigeria. The number of this law is 35 of the Land Registration Law No. 2644, as amended by Law No. 6302 that was put into force as of May 18, 2012, and this law became the legal basis for foreign ownership in Turkey, and for real estate investment in Turkey.
What are the restrictions imposed on foreigners’ ownership of real estate in Turkey?
- Foreigners are allowed to own a maximum of 30 hectares and a hectare is equivalent to 300 thousand square meters in Turkey.
- If the foreign investor wants to own, he must stay at least 400 meters away from all the military barracks of the Turkish army and strategic and security sites such as airports, sea ports, oil and energy stations and other cultural and religious centers of the Turkish state.
- Foreigners in Turkey can own various types of real estate in any town they like, provided that the investment reaches a maximum of 10% of the total land in this region or town.
What types of real estate are included in the foreign ownership law in Turkey?
The foreign investor is not prevented from owning any type of real estate, as the Turkish government allows foreigners to own all kinds of real estate in its lands “residential – commercial – lands – farms – factories – schools … etc. For more information, visit our website from here. “
The ownership of Iraqis in Turkey and their interest in the real estate market
The ownership of Iraqis in Turkey is well-attested in the real estate market. Iraqis have been in great demand to buy apartments, seeking to obtain Turkish citizenship, benefiting from the law on foreign ownership in Turkey and obtaining Turkish citizenship.
The unstable situation in Iraq forced thousands of Iraqis to travel and settle in other countries, and the Turkish option was a successful choice for them, and many of them decided to live and own real estate in Turkey, because of the warmth, sympathy and reception shown by the Turkish community to Iraqi citizens, and based on that, what appeared It is called the Iraqi ownership in Turkey.
– What are the conditions for Iraqis to own in Turkey?
Iraqis in Turkey have a right to them, according to the law issued in 2012; According to the decision of the Council of Ministers regarding the purchase of immovable property (real estate in Turkey), by foreigners in Turkey, Iraq is among the countries whose members are allowed to own real estate in Turkey.
However, Iraqis have to fulfill some conditions in order to buy real estate; These conditions are: The approval of the Ministry of Interior and the Turkish Ministry of Foreign Affairs, as the Turkish Tapu Department implements these procedures after submitting the required papers, and the Iraqi citizen does not have to go to the Ministry of Interior or the Turkish Ministry of Foreign Affairs.
Egyptians own property in Turkey
Since a short period of time, the ownership of Egyptians in Turkey has become active, especially since the Egyptians are among the active groups that benefited from the foreign ownership law in Turkey and participated in the various economic investments on its lands.
The data of the Turkish Statistics Department indicate that Egyptian nationals were among the most nationalities owning real estate during the years 2015, 2016 and 2017. For example, Egyptians ranked tenth for the year 2017 on the list of foreign nationalities with the highest ownership of real estate in Turkey, with an increase of 60% over Its predecessor was 2016, when the number of residential properties owned by Egyptians amounted to 587, and it can be rightly said that the ownership of Egyptians in Turkey was strong and spread over a wide area of its states.
Are Egyptians entitled to own all types of real estate in Turkey ?
The investment laws issued by successive Turkish governments allowed Egyptians to own and invest in real estate in Turkey in various types of real estate without any restrictions. It gave them the opportunity to own apartments, villas, and commercial establishments, as well as land and buildings for their residential and commercial uses. However, the most important exception from the ownership of Egyptians in Turkey is that the Turkish law prevents the Egyptian nationality from directly owning agricultural lands. The Egyptians resorted to another method, which is that the Egyptian can buy a land in Turkey by establishing a Turkish company, and then registering the land in the name of the company owned by an Egyptian citizen without any obstacles, considering the company a Turkish legal personality, and this is the only thing that exempted the Egyptians from the law of ownership Foreigners in Turkey in general.
Ownership of Palestinians in Turkey for Palestinian passport holders
Initially, the decision issued in 2012 was limited to allowing Palestinians to own a Palestinian passport (the Palestinian Authority’s passport) in Turkey, without anyone else.
Under the aforementioned law, Palestinians have the right to own property in Turkey, who hold a Palestinian passport, and buy real estate in Turkey without specifying the number of properties that a Palestinian can own. In a way that includes all types of real estate without restrictions, with the exception of the Palestinians buying land in Turkey, provided that the land area does not exceed 30 hectares.
Palestinians in Turkey own Jordanian passports
Under the same law, Palestinians holding a Jordanian passport were allowed to own property in Turkey, while treating them as a Jordanian citizen with the right to own, sell and buy real estate, without specifying the number or type of real estate.
Owning the Palestinians in Turkey from holders of Lebanese, Iraqi and Egyptian travel documents
On March 6, 2019, the Turkish government issued amendments to the decision to own Palestinians in Turkey, thus allowing Lebanese, Iraqi and Egyptian document holders the right to own property. Provided that this person obtains residency in Turkey before purchasing the property, which constituted a major breakthrough for Palestinians in Turkey to own this category.
What are the procedures for foreign ownership of real estate in Turkey?
- Choose the right property.
- Ensure the following information:
- Title deed or title deed.
- Location statement: A copy of the property’s location in the municipality’s plan.
- Property number according to the municipality’s scheme.
- The absence of any restrictions that hinder the sale of the property, such as mortgages or inheritance issues.
- Extracting a tax number.
- Translating the passport into Turkish with a sworn translator registered with the Syndicate of Translators and certified by the Notary Notary.
- The contract of “Concession to Sell Agreement” is a preliminary sale contract in the presence of the notary “Notary” between the seller and the buyer, in both English and Turkish.
- Reviewing the Land Registry “Tabu Department” within 15 days from the issuance of the approval with the seller and it is preferable to have a sworn translator to ensure the correctness of the data, the number of the property and its area.
Documents required when buying a property in Turkey
- Documents to be provided with the seller:
- Property title deed.
- The “property value statement document” is obtained from the competent municipality.
- A recent 4 x 6 cm personal photo, no more than 6 months old.
- A copy of the project building permit and its registration document in the municipality.
- Copies of all company documents, such as: company establishment license – a copy of the commercial register.
- Earthquake insurance certificate.
- Documents to be provided with the buyer
- Obtain a tax number. (Vergi No)
- Passport with translation into Turkish by a sworn translator certified by the Notary Public.
- Two recent personal photos, size 4 x 6 cm, not more than 6 months old.
read more :