What Kind of Limits do Foreigners Have in Purchasing the Real Estate ?
What are the restrictions for foreigners’ acquiring property?
In accordance with the article 35 of the Title Deeds Law No 2644, acquisitions by foreign real persons are only possible within legal restrictions.
In accordance with the Military Restricted Area and Security Zone Law No 2565, it is not possible for foreigners to acquire property in military restricted areas.
A foreign real person can acquire property up to maximum 30 hectares and limited property right within the country. The Cabinet of Ministers is authorized to double such quantity.
Total area of the properties and the independent and continuous limited property rights that the foreign real persons acquire cannot exceed ten percent (10%) of the district where the private property is located.
It is not possible for foreigners to acquire property in strategic areas and special security areas which are determined by the Cabinet of Ministers as areas in which foreign real and legal entities cannot acquire property.
Is residence permit required for acquiring property by foreign real persons?
In article 35 of the Title Deeds Law No 2644 which was amended by Law No 6302, it is specified that “Provided that legal restrictions are complied, foreign real persons who are citizens of the countries determined by the Cabinet of Ministers with regard to international relations and in cases required by the country’s interests may acquire property and limited property rights in Turkey”. In order to acquire property and limited property right, real persons who are the citizens of the countries determined are not required to obtain residence permit.
Is a permit (by the Ministry of Interior) is required for foreign real persons to acquire property?
In article 35 of the Title Deeds Law No 2644 which was amended by Law No 6302, it is specified that “Provided that legal restrictions are complied, foreign real persons who are citizens of the countries determined by the Cabinet of Ministers with regard to international relations and in cases required by the country’s interests may acquire property and limited property rights in Turkey”. In order to acquire property and limited property right, real persons who are the citizens of the countries determined are not required to obtain permit (from the Ministry of Interior).
Does the military restricted area inquiry continue?
Military restricted area inquiry is regulated in the Directive No 2013 /14 (1751) on “Military Restricted Area and Security Zones” and the procedure shall be concluded in new acquisition requests on the same block/parcel without further correspondence provided that it was inquired and a positive response was taken after 05.05.2011 when the memorandum of understanding was signed by the Ministry of Public Works and Settlement, Turkish General Staff and Ministry of National Defence.
For the ones which were inquired before the date when the memorandum of understanding was signed, it is required that the matter is resubmitted to the related Command by enclosing the response letters about the inquiry in question and the procedure is guided according to the response to be received and the letter to be received shall be taken as basis for further requests and no further correspondence shall be required.
Can Blue Card be used instead of identification documents?
In relation to Blue Card regulation; since the practice was initiated on 12.04.2013 by Directorate General of Civil Registration and Citizenship Affairs, Blue Cards which were issued after this date can be used as identification documents alone.
Documents (Blue/Pink Card) regarding the use of the rights reserved in law No 4112/5203 which were issued before 12.04.2013 shall be evaluated together with national ID or passport unless they are renewed.
For the persons who have the rights granted in the law No 5901 and apply with their passport of national ID without submitting Blue Card; the transactions shall be realized after it is confirmed that they have Bleu Card following the inquiry in Blue Card registry in MERNİS or submitting the civil registration to be taken from the Civil Registration Office.
Is it obligatory to have a project approved within 2 years on properties without building?
In article 35 of the Title Deeds Law No 2644, it is specified that “foreign real persons are obliged to submit the project, which will realize on the property without building they have purchased, to the approval of the related Ministry within two years”, however they are not obliged to have the project approved within two years, but to submit the project for approval within two years.
Are the companies obliged to develop a project when they acquire a property without building?
Commercial companies with legal entity which were incorporated in foreign countries in accordance with their laws can acquire property in our country subject to special law provisions. Since the property acquired for that reason shall be used for the purpose specified in the reference law provisions, there is no obligation to develop a project.
Companies with Foreign Capital are regulated in article 36 of the Title Deeds Law No 2644 and property acquisition procedure is stipulated in directive No 2012/13. The obligation to develop a project, which was stipulated in article 35 of the Title Deeds Law No 2644 shall not apply to the companies with foreign capital.
If the shareholder of the company which was incorporated in Turkey is not included in the list determined by the Cabinet of Ministers, does this prevent the company to acquire property?
Companies with foreign capital are legal entities incorporated in Turkey in accordance with Turkish laws and they are regulated in article 36 of the Title Deeds Law. Shareholders’ not being included in the list determined by the Cabinet of Ministers does not prevent the company to acquire property.
Are all of the companies with foreign capital obliged to apply to the Governorate in procedures for acquiring property?
As regulated in the article 36 of the Title Deeds Law No 2644 and directive No 2012/13 on “property and limited property right acquisition of companies with foreign capital”; the statements “within the scope of article 36” and “not within the scope of article 36” in the certificate of authorization issued by Trade Registry Offices shall be taken into consideration when companies with foreign capital are acquiring property. Only the property acquisition of the companies within the scope of article 36 are subject to the Governorate process. For that reason, the companies which are not within the scope of article 36 are not obliged to apply to the Governorate.
Is there a difference between Turkish citizens and foreigners in terms of financial aspect of Title Deeds transactions?
In transactions which arise a debt for transferring ownership in accordance with the article 35 of the Title Deeds Law No 2644, service fee shall be collected by the title deeds office as fixed during transaction and in addition to the circulating capital fee determined for the transaction.
Is descent of inheritance to foreign real persons possible?
Descent of inheritance to foreign real persons is possible. However, in the event that the descended property is located in an area where foreign real person cannot acquire property, it is required that the property is sold or otherwise liquidated following the descent. In addition, if the inheritance is descended to a citizen of a country which is not included in the list determined by the Cabinet of Ministers, it is also required that the property is sold or otherwise liquidated following the descent..
How can I access the list of the countries which can acquire property in Turkey?
In accordance with the article 35 of the Title Deeds Law No 2644, the list of countries which can acquire property in Turkey is not available to the public, but it is possible to obtain information from any title deeds office based on individual countries.
Is the translation of passport required?
As regulated in the directive No 203/13 on “identification in title deeds transactions of foreigners”; Turkish translation of the passports and national ID cards on which an alphabet other than Latin alphabet is used may be required if it is deemed necessary by the Title Deeds Office, but the Turkish translation of the passports and national ID cards issued in Latin alphabet shall not be required.
Which documents are required in property acquisition?
Title Deed of the property or village/neighbourhood, block, parcel, building, flat information,
Identification card or passport (with its translation if required),
“Certificate of current value of the property” from related Municipality,
Obligatory earthquake insurance policy for buildings (residence, office, etc.),
1 picture of the seller and 2 pictures of the buyer (taken within last 6 months, in 6×4 size),
Certified translator for the party that does not speak Turkish, if any,
If the transaction is carried out in accordance with a power of attorney drawn up abroad, the original copy or certified copy of the power of attorney along with its translation.
What are the restrictions for companies with foreign capital to acquire property?
There are no restrictions for companies with foreign capital to acquire property and they are able to acquire properties in any number provided that they comply with their activities.ENQUIRE NOW