Property in Alanya. Ideal Alanya Real Estates, Real Estate in Alanya +90 532 487 02 57

SERVICES

Legal Consultancy

Let us support you with your legal issues in Turkey.

Preparing Purchasing Contract

  • In accordance with Private Laws in Turkey, a buyer or seller has the right to obtain legal advice from a lawyer during signing of contracts.  We at Idealhome are happy to arrange this service for you.  We will introduce you to reputable, trusthworthy lawyers who have invaluable experience in this field. 
  • You are, ofcourse, free to seek advice from a lawyer in whom you have more confidence.
Fraud
  • To report fraud or fraudulent activity, you should seek legal advice from a lawyer. Generally, such complaints are reported to the local Prosecutor.
 

Preparing the testament

Turkey is a very popular business and holiday destination for people all around the world. Buying real estate in Turkey became relatively easy after the laws which were released after 2003. Later statistics showed that the number of foreign buyers who own real estate in Turkey increased rapidly.

This reality brings up a question: ‘’how should overseas investors prepare a testament or a testamentary disposition of properties in Turkey in accordance with Turkish Law”?

The testament allows you to control what happens to your properties after your death. In order for your testament to be issued and executed properly, your testament must be in Turkish and must be prepared in accordance with Turkish Laws and Regulations. 

For Further information on testamentary disposition and testaments in Turkish Inheritance Law, please contact our Lawyer.

For foreign persons living in Turkey, there are two ways to prepeare your testaments.

 

How to issue a Testament By Handwriting?

  • It should be explained in the title that this letter has been written as a testament
  • You have to indicate that you are physically and mentally healthy at the time of issuing the testatement
  • Make a list of your immovable properties which will be the subject of the testament
  • Make a list of your successors
  • It must be clearly indicated that who will have to inherit what kind of property and percentages
  • You should write the date and hour
  • You should sign your testament letter
  • Deliver the letter to a Turkish Notary or Turkish Court to be opened after the person’s death.

Attention: Please be mindful that only handwritten testament will be deemed as valid and accepted by the administration of the testatement.  Any contents typed on a computer and printed or written on a typewriter will be rejected by administration of the testament. 

The person who delivers the testament to a court or a notary may also renounce it partly or completely at anytime.

How to issue a Testament Before a Turkish Court or Notary?

How to issue a Testament Before a Turkish Court or Notary?

Testifying before the court and notary formalizes testaments. Testament before the court is the safest way for execution after passing away. For foreigners residing in Turkey, completion of this process is possible if the testator appears before a court or a notary with two of his/her witnesses.

Foreign testators living in Turkey should be aware of that properties without a successor, will be claimed by the state. To complete these processes safe and sound, always seek professional help from lawyers.

Preparation of wills and transfer of property to the heirs

Wills prepared by foreign nationals in their own countries can be executed in Turkey so as to transfer the ownership of a property to the individual(s) stated within the wills.

To carry out the property transfer pursuant to a will, a heir has to gather a court letter confirming the will from the relevant court of his/her own country and to have it ratified at the Turkish Consulate General. Then he/she has to submit that letter to the relevant court of the province in Turkey where the property is located. Then, the Turkish Court issues an official document which allows the transfer. Finally, the heir presents the document granted by the Court to the Tapu (Land Registry) Office as well as other documents required for the transfer of ownership.

Please note that transfer of ownership of a property to an heir is subject to inheritance tax. Thus, if the heir sells out his inherited property, he is not subject to any personal income tax based on the capital gains.

Inheritance

Inheritance is made up of a person’s earnings, property, rights and debts accumulated during his/her lifetime. Just like every person in Turkey, you have the right to an inheritance. Men and women have equal rights to inheritance. If you are in Turkey under other statuses, International Law will be considered on the matters related to inheritance. If you inherit a real estate property located in Turkey, provisions shall be applicable regarding the acquisition of real estate by foreigners in Turkey. You can consult a legal advisor or lawyer for further information on inheritance law.

In Turkey, the rights of the inheritors are protected on the real estates acquired by overseas investors. Real estate may be transferred to foreign natural persons by inheritance.

But, if a real estate is transferred by inheritance to a citizen of a country that is not included in the list of specified countries, the citizen will not be eligible to acquire the real estate in Turkey, the real estate in question must be disposed after the transfer, otherwise it will be expropriated.

The Ministry of Treasury and Finance grants a period of one year to the owner of the real estate. If the owner fails to sell or dispose of the real estate within the period granted then the said Ministry receives the real estate and an appropriate amount shall be assessed for the same and such amount shall be paid to the right holder.

. For further information please contact our Lawyer.

Funeral Procedures

Death is a painful but inevitable phenomenon. The final duty of those left behind by the deceased is to ease the deceased last journey to the afterlife. In this case, application to correct organizations for assistance will make the procedures easier for people in pain and sorrow. There are certain legal procedures to follow in case of a death.

Procedures are given below respectively:

  • Obtaining a death certificate and a burial permit,
  • Preparing the corpse for burial,
  • Reporting the death to the civil registry office.

Municipalities are responsible for funeral procedures in Turkey. Therefore, after applying to the municipality of the deceased’s residence, funeral procedures are carried out. Municipalities provide funeral services 24 hours a day.

  • Deaths should be notified to civil registry office within 10 days of death.
  • This is done by the unit that issue the burial permit.

Foreigners are also obliged to notify deaths to Provincial Directorates of Migration Management

For Funeral Services 188 HOTLINE

Several cities including the metropolitan municipalities operate the hotline 188 for Funeral Services. When a relative of yours has passed away, you can first call the hotline 188 to get detailed information about what to do. 

When such a service is not available, you can apply directly to the funeral services unit of the municipality.

The procedures applicable to death of Turkish citizens are also applicable to death of foreign nationals in Turkey. 

However, if a deceased foreign national in Turkey is non-Muslim, funeral ceremonies are carried out by a cleric of the religion to which the deceased belongs.

Other procedures are under the responsibility of the municipality. If there are special cemeteries reserved to adherents of other religions in the area of burial, the deceased is buried there. 

If such a cemetery is not present, a separate place may be reserved in an appropriate part of the common cemetery.

 

REAL ESTATE CONSULTANCY

  • alanyarealestates‘ real estate consultants can help you turn your critical and complex real estate problems into growth opportunities.
    * From business owners and investors to lenders and corporate groups, we offer you the experience, knowledge and strategic planning to help you make better decisions.
    Our range of services includes: Due diligence, market research, portfolio services, leasing consulting and more. You will find almost everything you need to increase the value of your business at alanyarealestates.com.
  • We use emerging technology and analytics to generate deeper, transformative insights in areas such as valuation (with partners), due diligence and portfolio optimization to help our clients achieve successful results and increase the value of their business.
    Our Real Estate Consulting app helps companies change their critical and complex real estate issues into opportunities for growth, resilience and long-term advantage.
    By fully understanding the interaction between asset valuation, capital markets and today’s changing real estate market issues, we offer clients innovative ideas on how to improve their results and avoid key issues.
  • Our customers rely on us and our skill and experience to provide them with deep, forward-looking insights that can help them strategically plan and make decisions with confidence.

Development consultancy, feasibility study and real estate market research

Our team of consultants are equipped to conduct market research anywhere in any region. Our teams and our affiliates in other parts of Turkey are successfully carrying out comprehensive feasibility studies. We receive accurate analysis and detailed reports from customers, investors and also government institutions.

TAXES AND INSURANCE CONSULTANCY

Basic property-related taxes

With regard to real estate in Turkey, following taxes or compulsory insurances are possible:

  • Real Estate Acquisition and Purchase Tax (at the time of purchase or sale)
  • Earthquake insurance (a nationwide contribution rate is applied)
  • Property tax
  • Personal income tax (based on rental income and capital gains)
  • Inheritance and Succession tax
  • VAT (if a commercial delivery takes place)
  • Corporate tax (if a company has a business transaction)

More information about the Turkish Revenue Administration tax system of taxation can be found in the booklet prepared by the Presidency in Turkey.

Real Estate Sale and Acquisition Levy

Each of buyer and seller is to pay real estate sale-and-acquisition levy of 2%, based on the declared value of the asset (This value cannot be less than the threshold determined by authorities). It is collected in prior to the transfer of ownership at TAPU office.

Earthquake Insurance

Property is to be insured by the owner against the earthquake risks. It is compulsory and a national uniform tariff is applied.

Other property insurance types can be freely bought from the market and they cover some risks including theft and fire. For further information please visit our insurance page.

Real Estate Tax

Registration of the property under your name at the municipality must be issued. We assist you to register with the local municipality to pay yearly property tax.

 

Tax is calculated on the basis of the declared value of the asset which could not be less than a threshold determined by tax authorities.

Tax payments are made in two equal instalments in the period March-to-May and November each year and those are collected by the local governments (municipality).

The tax base is annually updated by a coefficient determined by the Ministry of Finance taking into account the inflation rate.

Real Estate Tax of the property in the year of acquisition is paid by the seller whereas the consecutive years’ taxes are paid by the buyer (new owner).

You should contact your local council (Municipality) for more information and payment options. The tax is calculated based on the value of the property and is subject to thresholds set by the tax authorities as follows:

 

For real estate located outside of a metropolitan municipality:

Residences, Apartments                          0.1%

Commercial Buldings                              0.2%

Plots (Construction Purpose)                   0.3%

Lands                                                    0.1%

 

For real estate located inside of a metropolitan municipality:

Residences, Apartments                           0.2%

Commercial Buldings                               0.4%

Plots (Construction Purpose)                    0.6%

Lands                                                      0.2%

 

Personal income tax :

What gains can be attained through property? Are those gains taxed?

A real estate property may enable an individual to obtain two types of gains. There is no difference between foreign nationals and Turkish citizens in terms of taxes or fees. Tax rates can be updated periodically.

Firstly, you can rent it out and earn rental income. In that case, you are to pay a personal income tax.

If you rent your property to a person or company, you must submit a tax return to the nearest tax office for your rental income for the previous calendar year from 1 to 25 March. Taxes are paid in two equal installments, the first in March and the second in July.

Secondly, the market value of your asset may rise and hence you can attain a gain. If you sell out your real property in the five-year-period following the acquisition date, you shall be subject to personal income tax based on the difference between the selling price and the inflation-adjusted acquisition price.

For sales by individuals after the 5-year-period following the purchase, no personal income tax is charged on the gains to be attained.

 

Inheritance and Succession Tax:

The transfer of assets without any payment by way of inheritance or in Turkey are subject to inheritance tax.

A taxpayer is a person who acquires property through inheritance or free of charge.

Inheritance and gift tax are assessed on the return submitted by the taxpayer.

In the case of inheritance, the declaration must be submitted within four months from the date of death. Death occurs and taxpayers in Turkey Turkey is outside the return period is extended to six months. declaration time if there except death and Turkey, the taxpayers will still be four months. However, when the death occurs in a foreign country and the taxpayer is in another foreign country, the declaration period is extended for eight months.

For transfers made free of charge, the declaration must be submitted within one month from the date of acquisition of the property.

The tax base is updated annually. There are some discounts for inheritance to daughters, sons and spouses.

Please note that transfer of ownership of a property to an heir is subject to inheritance tax. Thus, if the heir sells out his inherited property, he is not subject to any personal income tax based on the capital gains.

Corporate Tax:

if a company has a business transaction in real estate business;

Corporations with legal or business centers located in Turkey are qualiied as residents and are subjected to taxation on their income derived in Turkey. If both the legal and business centers are not located in Turkey, then these corporations are qualiied as non-residents and subjected to taxation only on their income derived in Turkey.

Corporate Tax Rate: In Turkey, the corporate tax rate levied on business proits is 20%. (The rate for corporate tax has been increased to 22% for the tax periods 2018, 2019, and 2020. However, the President is authorized to reduce the 22% rate down to 20%).

VAT Tax  

The Turkish taxation system levies value-added tax (VAT) on the supply and the importation of goods and services.

Liability for VAT arises when: A person or entity performs commercial, industrial, agricultural, or independent professional activities within Turkey

General VAT rate is 18%. However, some goods and services are taxed at either 1% or 8%.

Commercial delivery of a residential property with net area up to 150 m2 is subject to a VAT of 1% whereas commercial delivery of those with more than 150 m2 is subject to a VAT of 18%.

 

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