Turkey: Acquiring Real Estate Of Foreign People In Turkey

Acquiring real estate of foreign real person and foreign legal person is ordered in the article 35 of Land Registry Law 2644. According to this;

With the reservation of reciprocity and compliance with legal restrictions, foreign real person can acquire real estates, where falling under the real estate use or locality development plan in central provinces for the purposes of using as residence or business aims in Turkey.

The trade corporations which have been established according to their own laws in foreign countries and have legal personality can acquire property of real estate and limited real rights in respect of special laws.

De jure and de facto circumstances are taken as basis in determination of reciprocity. In implementation of this principle it’s stipulated that the rights granted by a foreign country for real estate acquisition to its own citizens should also be granted to the citizens of the Republic of Turkey.

According to this, foreign real people’s acquiring real estates comprises of three groups in a country scale;

a. Precise reciprocity (The countries which their citizens can acquire real estate freely in general legal restrictions)

b. The countries without reciprocity. (Their citizens cannot acquire real estate)

c. The reciprocity which consist in specific circumstances.

(For instance the ones whose acquirements are allowed only a house, second acquiring are subject to permission, who can acquire with a circumstance of residence permit and whose acquirements belongs to special permit.)

When the citizens of countries which take places under the title of (a) and (b) apply to the Land Registry Offices, this demands are being fulfilled by these offices or received refusal.

The citizens of countries which take places under the title C can acquire under the supervision and permission of The General Directorate of Land Registry and Cadastre.

In any forms whatsoever when needed documents or permission process is completed, there is no difference between Turkish citizens and foreigners about its procedure, other process of foreigners real estate acquisition (transaction preparation, tax revenue, needed documentaries etc) is exactly the same as Turkish citizens.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

By |2018-01-26T15:34:34+00:00July 2nd, 2015|Real Estate|Comments Off on Turkey: Acquiring Real Estate Of Foreign People In Turkey