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Rules governing real estates purchased by foreigners

Foreigners are entitled to purchase real estate in Turkey. However, Section 35 of the Title Deed Law stipulates the following restrictions over real estates to be purchased by foreigners in Turkey:

• Nationalities of foreigners entitled to purchase real estates in Turkey are subject to a restriction. Only the real person foreigners having the nationalities included in the applicable Presidential Decree are entitled to purchase real estates in Turkey.
• Total surface area of a real estate to be purchased by a foreigner in Turkey will not exceed 10% of the surface area assigned to private properties in the relevant borough.
• Total surface area of the real estates which a real person foreigner can own is limited to 30 hectares. However, this limit may be expanded up to 60 hectares in some cases. The right to expand this limit remains with the President.
• Legal persons other than commercial businesses are not entitled to invest in real estate in Turkey. Commercial businesses can make such investment after presenting their projects for the real estates they intend to purchase. If a real estate purchased this way is later used for a purpose not described in the relevant project, the relevant ministry will liquidate that real estate.
• Foreigners are not entitled to purchase real estate in restricted military zones and security zones. Foreigners can neither purchase nor rent a real estate located in such zones.

In addition to the restrictions described above, the President has the right to impose additional restrictions and limitations. The President can impose other limitations than the above mentioned ones for the sake of national interest. Such limitation can be a full prohibition.

Foreigners are recommended to take into consideration the following things in purchasing a real estate in Turkey:

1-If they will purchase a real estate through a real estate agent, they should select a reliable agent.

2-They should inquire the zoning permit status of the real estate.

3-Authorization of the real estate owner and of the seller to sell the real estate should be checked. Authenticity of the power of attorney used by the seller should be verified.

4-If a dispute arises between the parties during the purchasing stage, a lawsuit should be filed with a Turkish court.

5-A promise of sale agreement signed by the parties before a notary public will not be enough for the sales transaction. The sales transaction must be performed before the relevant land registration office.

6-Foreigners are not required to have a residence permit to purchase a real estate in Turkey.

7-Application by a foreigner to purchase a real estate in Turkey may be rejected. In this case the foreigner may appeal to the area directorate to which the relevant land registration office is subordinate.

Documents to be submitted by foreigners to purchase a real estate in Turkey

First of all, an application should be filed with the local land registration office. Applications filed by real persons should contain the documents described below:

1-Identity card and passport of the foreigner.

2-Current value appraisal report for the real estate intended to be purchased.

3-If the real estate is a residential, commercial or similar structure, obligatory earthquake insurance policy.

4-Title deed of the real estate.

5-Passport-size photos of the seller and the buyer.

6-If the sales transaction will be performed using a power of attorney issued abroad, the original, an attested copy and Turkish translation of that power of attorney.

TERMS AND CONDIDITIONS OF USE AND DISCLAIMER

Information given in this website only contains general information and opinions, does not substitute legal recommendation or professional legal service, and may not be used as legal recommendation or professional legal service. You are highly recommended to receive professional legal service and opinion for each case depending on its peculiar circumstances.

Lawyers employed by Gulis Law and Counseling Office are definitely not responsible for the accuracy or completeness of the information given here. Given that information, laws and stare decisis may abruptly change, the information given here may not be undertaken or guaranteed to be current. You are recommended not to make a business decision based on any part of the information given here, and to buy professional legal service for each case depending on its peculiar circumstances.
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Gulis Law & Consultancy Office