According to the law, the official sales contracts in Turkey are arranged by Land Registry Offices. Foreign persons, who seek to acquire real estate or benefit from real rights, have to make their applications to the Land Registry Office where the real estate is located.

 

Restrictions for Real Estate Acquisition of Foreign Persons in Turkey

It is forbidden to acquire property in the military regions. To ensure that the property is out of the military zone, it is required to make the application to the military authorities, that is a formality and has 2 to 5 months of approval period.

 

Required documents

The same documents for application are required from Turkish residents as well as foreign persons.

The following documents are necessary for Real Persons:

• The Title Deed of the real estate, if it is available. Otherwise, a document indicating the city blocks and parcel of the real estate or a verbal statement by the owner.
• The identity card or passport of the foreign person, also two small photographs.

If the person applying for demand of registration is a representative, a power of attorney of the representative, an identity card and two small photographs of the representative are required.

The following are necessary for Legal Persons:

• Companies established according to the Foreign Direct Investment Law numbered 4875 must show a competence document (“yetki belgesi”) obtained from the Turkish Trade Registry.
• Foreign trading companies established in foreign countries according to their laws are required, in compliance with the legislation of their country, to show a document having the effect of a competence document given by relevant authorities.
• Signature Circular of the Company.

If a person will be authorized except the legal representatives of the company Power of Attorney is required.

With regard to charges and taxes required to be paid in the course of transactions, there is no difference between foreign persons and citizens of the Republic of Turkey.

However, when asking the competent military post to determine whether the real estate demanded by foreign real or legal persons is located outside of Military Forbidden Zones and Security Zones or not, if any control in the field is needed to mark on a map of 1/25000 scale where the real estate is, a kind of service value will be paid as a transaction named “showing the parcel in its place”.

 

Property purchasing process

The property purchasing process is simple: after choosing the right property and inspecting it, reserve the property by leaving a deposit and give the power of attorney to a solicitor who will deal with further property purchase documentation. Consult on the final contract and instruct your solicitor to sign the contract on your behalf. After that, follow the terms and conditions indicated in your contract.

 

Legal costs

• The Land Registry Fee is 1.5% on the sale price of real estate. Both the buyer and seller pay this charge. Thus, the total title deed charge over the property that has to be paid is 3%.
• The Notary Public Fee is not required for real property acquisitions.
• The Legal Consultancy Cost is usually calculated on the basis of hourly rates by International Law Firms while lawyers prepare a legal due diligence relating to the real property and prepare the sale purchase agreement.
• Certified Translator Services cost 50 euros for official procedures at the Title Deed administration and public notary.
• Power of Attorney costs approximately 150 euros.

Note: The information is for guidance only. It is recommended to use professional advice before taking practical decisions.