By law, adopted in 2017, foreigners could receive citizenship of the Republic of Turkey, if they buy a house 1 million dollars worth and keep in the hands for 3 years,. This amount decreased to 250 thousand dollars with the change made in 2018. As such, The number of foreigners turning to house purchases to have Turkish citizenship has increased. So, what are the considerations that foreigners buying house from Turkey should pay attention to?
- In order for foreign persons to become the owner of real estate in Turkey, a preliminary application must be made by the land registry directorates first. ( https://randevu.tkgm.gov.tr/ )
-After the preliminary application, the day is determined for the transfer of the real estate.
- Application documents must be ready on the designated day.
Application Documents For The Purchase Of Real Estate In Turkey ;
- Certificate of ownership of real estate
- Passport and photocopy of the foreigner who will buy (with approved Turkish translation)
-Certificate of fair value of Real Estate " to be obtained from the municipality where the property is located”
- Compulsory earthquake insurance policy for housing and workplaces
-1 photo of the person selling (white background, biometric)
- 2 photos of the buying stranger (white background, biometric)
- Sworn translator if the foreign buying does not speak Turkish
- Original or approved copy of the power of attorney in case of transfer operations with a proxy (approved Turkish translation if arranged abroad)
Fees and expenses for purchasing real estate in Turkey;
- Title deed fee (determined by the value of the House.)
- Revolving fund fee
- Cost of service to be paid to the land registry office
Notes To Be Known When Purchasing Real Estate In Turkey;
- It should be noted that there are no restrictions such as mortgages, foreclosures, injunctions in real estate.
- A preliminary application must be made to the land registry offices for transfer operations.
- The transfer of real estate is possible with the official promissory note and registration signed in the land registry offices.
- Residence permit is not required to purchase real estate.
-When purchasing real estate, a 3-year comment on not selling should be placed in the land registry. If no comment has been made on the Land Registry of this real estate, the declaration of the real estate is given to the house “regulation on the application of the Turkish citizenship law 20.within the scope of the article, there is a commitment that it will not be sold within 3 years from the date of acquisition."by applying to the General Directorate of Land Registry and Cadastre with the phrase 3 years of not selling comment should be put.
Note: Instead of the US dollar requested as a monetary condition, the foreign currency or the Turkish Lira equivalent of the same value is sufficient to meet this condition. The determination of this monetary requirement is based on the effective sales rate and/or cross exchange rate of the Central Bank of the Republic of Turkey (CBRT) at the date of determination.
When all these conditions are met, you are entitled to receive citizenship of the Republic of Turkey.
Life had come to a standstill due to the coronavirus that spread rapidly all over the world last year. Borders were closed, flights were stopped, and tourism, as in many other sectors, was largely disrupted.
During the epidemic, where we learned to live individually away from socialization, most of our habits changed. This process deeply affected both working life and holiday choices.