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Property Law in Turkey
Law on Buying Property in Turkey and Obtaining Permanent Residence
Foreigners are free to buy property anywhere in Turkey, except for military areas, according to citizenship laws regarding home buying in Turkey. Foreigners can purchase a home worth at least $ 6,000 to obtain Turkish citizenship. In other words, foreign nationals and their families who buy real estate in Turkey worth at least $ 5,000 or the total amount of their real estate in Turkey is equal to that amount can become Turkish citizens. Turkey is a country where investing in real estate is very booming, having a property in Turkey is one of the best ways to invest in Turkey.
Obtain the right to reside by buying property
Foreigners who experience buying property in Turkey can obtain their residence permit provided that the residence is extended for certain periods. They also have the right to apply for residence for their families. With this residence permit, their foreign children can study in Turkey. With a residence permit, it is easier for foreigners to find a job and it is easier for companies to get a work permit.
It is worth mentioning that you can even get temporary residency by buying a house in Turkey for less than $ 250,000 and you can get permanent residency after 5 years but you cannot obtain a Turkish passport or citizenship.
Getting Turkish citizenship
Citizenship gates are open to foreigners who buy a home in Turkey. Obtaining citizenship by buying a home in Turkey is available to foreigners who buy at least $ 250,000 worth of real estate in Turkey. In other words, you can make a profitable investment by buying a property in Turkey and become a Turkish citizen, and if you live in Turkey and extend your stay in this purchased property for a continuous period of 5 years, you will be entitled to apply for Turkish citizenship. Had. Note that during these 5 years there are restrictions on leaving the country that are being considered for citizenship review and that you have invested in Turkey.
What should foreigners do to buy property in Turkey?
Foreigners can purchase real estate, residence, office, land, etc. in Turkey provided that they respect the restrictions specified in this law. If a foreign national purchases a land, he is obliged to inform the Ministry of Environment and Urban Development within six years of the type of building on which the land is being built.
Restrictions on Buying Property for Foreigners
According to the relevant law, the following restrictions apply to foreigners purchasing property:
o A foreign national can buy a maximum of 30 hectares of property in Turkey.
o A foreign national cannot purchase property in military banned areas and security zones. Property can only be purchased in these areas with special permission.
o Foreign natural persons can purchase up to 10% of the total area where private property is located.
o Real estate designated by legal authorities to be used for a specific purpose should not be used for any other purpose. Also, property that has not been notified to the Ministry of Environment and Urban Development within 5 years, although they may have been purchased for construction, may Be exposed to problems with officials.
o The above-mentioned restrictions do not apply to companies of a legal nature established in accordance with the laws of their countries.
Steps to Buying a Property
The following steps should be followed when buying a property in Turkey:
1. The initial application must be sent to the Land Registry
2. Upon initial request, a date shall be set for the transaction between seller and buyer.
3. The following documents must be ready for the due date.
o Property title
o Passport and copy of foreign buyer’s passport (Turkish translation of passport may be required)
o The “property value declaration” document is produced by the relevant municipality.
Compulsory earthquake insurance for buildings such as homes, offices, etc.
o 1 photo of seller, 1 photo of buyer
o An official translator if the foreign buyer cannot speak Turkish
o Original and valid copy of power of attorney if dealing with power of attorney (Turkish translation of power of attorney if required overseas).
Other points to consider
You should ask if there are any restrictions such as mortgages, mortgages, etc. on the property. You can get the information you need from the Land Registry and no residence permit is required to buy a property in Turkey.