Frequently Asked Questions
1 – Is it possible for foreigners to own real estates in Turkey?
Yes, foreigners can own real estates in Turkey, especially after the abolition of the principle of reciprocity, and the enactment of private ownership law for foreigners on 15/5/2012. It has become very easy to own a real estate in Turkey provided it is not in the military zones, rural, or any land belonging to the state in general. There are only three countries that Turkey has frozen relations with (North Korea – Armenia – Syria) so the acquisitions in Turkey to the citizens of these countries is not possible. But they can overcome this obstacle through acquisition on the name of the company they create.
2 – What are the required documents when I decide to buy a real estate in Turkey?
Only a passport valid for at least 3 months.
3 – Do I need a visa to enter Turkish territory?
It depends on your nationality. As a result of the policy of openness to the world pursued by Turkey, the citizens of more than 71 countries are exempted from visa to enter Turkey. So you should check this with Turkish missions in your country before coming. You can also check through the Turkish electronic visa site through the following link www.evisa.gov.tr.
4 – Do I need a residence permit to own real estates in Turkey?
You do not need a residence permit to buy a house in Turkey. But you can get a residence and an exemption from the visa when you buy a house in Turkey. The recently passed law gives the owners of real estates in Turkey a stay for a year that can be obtained from the nearest police station to the place of your stay in Turkey.
5 – What are the required documents to get a Turkish residence permit?
- Contract for the purchase of the house.
- 4 photographs such as those used in your passport.
- Photocopy of the main page of your passport, the page containing the validity of the visa, and that containing entry stamp to the Turkish territory.
6 – Do I have to open a bank account in Turkey?
Is not necessary to open a bank account in Turkey, you can even transfer the amounts of payments property directly from your country. But it is preferable to open a bank account in order to make it easier the transfers and the bills pay via Internet if you are not in turkey.
7 – What is required to open a bank account in Turkey?
- Your passport
- Tax number you get from the department of taxation
8 – Is there global banks in Turkey which we can deal with or create an account?
There are many global banks in Turkey such as (Fortis and HSBC) and there are banks with branches in Europe like (AKBank and Garanti Bank) and there are Islamic banks such as Kuwait Turkish Bank (Küveyt Türk) and Al Baraka Bank (Albaraka Türk).
9 – Can I get a loan from Turkey against the mortgage of the property that I’ve purchased?
Yes, you can get a loan from Turkey against the mortgage of the property depending on the house that you would like to buy it. For more information contact us.
10 – Is it possible to ensure home and property with insurance company in Turkey?
Yes, there are many local and international insurance companies that offer insurance services for real estates and properties.
11 – Can you invest through real estate lease?
Yes, you can coordinate with Real estate agencies to rent your home and we can help you with that. Contact Us.
12 – Can I re-sell the real estate?
Yes, we can help you through an announcement in our website. Contact Us.
13 – How much time does it take to get the title?
The registration in the department of land registry and obtaining the title takes From 2 to 5 months, because the procurement official papers are sent to the competent military authorities to carry out the necessary audit, to make sure that the property is not located near military zone or checkpoints. It has been verified that all the projects promoted by our company are away from military areas. And to get the title it’s required to have:
- A valid passport.
- Four photos.
- Tax number.
14 – Is it possible to bequeath property for those who want to without restrictions?
There are no restrictions on the issue of inheritance, in the case of absence of will the property will be owned by the rightful heirs.
15 – Can I take my money to my country in the event of the sale of my property in Turkey?
There are no restrictions on taking your money to your country, except for capital tax that you have to pay in the case where your ownership period in Turkey does not exceed five years. And if you pass five years of ownership you are not obliged to pay this tax.
16 – How is the state of hospitals and the health sector in Turkey?
Hospitals and health facilities in Turkey, whether private or government provide high-level services and are cheaper than that in Europe by 40 to 50% and most of them offer translation service for foreign patients.
17 – When purchasing real estate in Turkey who should represent me?
Under Turkish law, there is no need for a representative of you when doing the organization of the purchase contract and procedures to get the title. But if you want to feel more secure we can recommend you lawyers with a good reputation and who are speak foreign languages.
18 – How much should I pay as a tax for buying a real estate?
Registration and Transfer tax of the real estate ownership is 4% of the real estate price to pay only once (divided equally between the buyer and seller). Sales tax worth 10% is added and borne by the buyer.There are some other simple expenses (Earthquakes Insurance / insert water bills, gas and electricity on behalf of the buyer).
We have tried to answer some of your frequently asked questions, and we are ready to answer all questions which are not listed here.