Turkish government supports the foreign investments and because of that they repeal old complex laws with the new regulations, which are in favor of foreigners. By these new laws buying a property in Turkey is easier than buying in some other European countries.
These new laws eliminate the distinction between foreigners and the Turkish Citizens. Only difference between foreigners and Turkish citizens is, foreigners can’t buy, sell, transfer and rent any real estate located within military forbidden zones and security zones.
Someone who wants to acquire real estate or benefit from rights apart from property will make their applications to the Land Registry Office where the real estate is located. At the application, applicants should provide; a document indicating the city block and parcel of the estate, identity card or passport for foreigner, and a two small photographs. Beside these foreigners should do one more extra work of determining the demanded real estate is located out of military forbidden zones and security zones.
All these transactions have some fees like; the purchasing tax, which is paid by both buyer and seller, the fee of sworn interpreter, if the buyer or seller is from a foreign country and the determination fee of the property
Another option to buy an estate is giving a representative right to someone. If the person applying for demand is representative, a power of attorney of the representative, and identity card with photograph, two small photographs of the representative. If some of the purchasers are not present during the transaction, identity card with photographs, two small photographs and power of attorney of the representatives that represent the purchasers, are required. If the purchase or sale is done by the representative, then buyer or seller still pays the above fees. Moreover s/he pays to the notary for assigning someone as a representative. However, s/he does not need to do all the paper works.
All these transactions take up to six weeks. The time period mostly depends on the work load of the Land Registration Office. In a low work load times it can be completed in couple days.
Buyer can sell or rent his property, after all these transactions. For money transfer there is no restriction in Turkey. It can be done through the banks or private financial institutions.
On all these tasks, which will be done at Land Registry Office, we will be ready to help you.
For further information please visit General Directorate of Land Registrations Official web Page.
http://www.tkgm.gov.tr/ana.php?Sayfa=icerikana&ICID=2&DID=9
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