- COMPANY PROFILE
- BUYERS GUIDE
Purchasing Property in Turkey
There is no difference between Turkish citizens and foreigners in terms of the processes for land registry and cadastre procedures. At present, citizens from a total of 184 countries may acquire real estates from our country.
Natural (Private) Person; Foreign natural person, who would like to acquire real estates in Turkey:
Foreign natural persons may buy any real estate in Turkey where private property is allowed (residential homes, commercial workplace, lands etc.), by obeying the legal limitations. If foreign natural persons buys unbuilt real estates (real estates with no built structures; such as land and field), then a project must be developed depending on the nature of the real estate. Such project must be applied to the relevant ministry for approval within two years. If an application has not been made to the ministry or the project has not been completed within two years, such real estate will be subject to expropriation.
Companies with Foreign Capital
Incorporated companies established in Turkey may acquire real estates and limited rights in rem in order to operate as set forth in their articles of association. In order for a company to be accepted as a foreign capital company; it must hold fifty percent or more of the shares of foreign legal entities or international organizations established under foreign country laws, and have the power to appoint or dismiss the majority of persons authorized to manage.
Provided that the provisions of the Military Forbidden Zones will be reserved, the acquisition of real estates by such companies will be subject to investigation by the governorships to determine whether they remain in military forbidden zones and military security zones. Such investiogation made by the governorship takes place directly before the relevant registry directorate and the land registry directorate responds within three working days at the latest. In case of acquisition of real estates within special security zones, authorization is required from the governorship of the place, where the real estate is located.
Companies with foreign capital are required to submit their “certificates of authorization” by showing the authorized representatives in addition to manner of representation and binding in their applications to acquire real estates. Certificate of authorization must clearly contain the authorization to acquire real estate and the personal information of the persons authorized to act on behalf of the company and it must be dated to the same year as the procedure.
Shareholders representing 50% and more of the shareholding who are not Turkish citizens, yet established and registered into Turkish Trade Registry according to the applicable legislation of our country, may be qualified as a “Company with Foreign Capital” and may acquire real estate ownership under the provisions of the legislation in force.
Incorporated trading companies established in foreign countries according to the laws of these countries may acquire real estates and limited rights only if there are special provisions in the applicable laws.
It is impossible to acquire real estates and to have rights in Turkey for any legal entity except the trading companies established in foreign countries according to the laws of such countries. (incorporated or unincorporated foundations, associations, cooperatives, societies, groups, communities etc.).
For example: A company that is established in Germany under the legislation of that country, which has shareholders who are citizens of Germany, France or Turkey, qualifies as a foreign company; and may only acquire limited rights in rem in our country within the scope of tourism, industrial or oil operations only.
In our country, only citizens of the countries determined by Laws and Regulations can acquire real estates and limited rights in rem. However, the below guidelines/restrictions must be adhered to:
Documents Required for Buying Real Estate!
Before preparing property purchasing contract, we first request all necessary documents required to inspect the property. Our next step is to request all necessary documentation from the seller/s and the buyer/s.
Documents required from the seller or buyer for the property before submitting any real estate for sale or purchase.
Title Deed Copy (Tapu) mandatory information: name of the owner, property location, type of property etc.
Up to date Title Deed Investigation Document: searches are carried out to ensure there are no situations preventing the sale of property such as debts or obstructions etc.
Habitation Certificate (ISKAN) mandatory document: “Building Usage Authorization Certificate”. A habitation certificate is a building utilization permit that shows the property is legally habitable.
If the property for sale is under construction, we obtain all legal documents such ownership and/or construction permissions.
Documents required from sellers are dependant on whether the seller is a natural person or Company before submitting any real estate to sell or to buy. For example:
After the buyer/s decide to buy the property, documents required for the buyers are also dependant on whether the buyer is a natural person or Company. For example: