FOREIGNERS BUYING PROPERTY IN TURKEY
The foreign nationals have the same formal process like Turkish citizens when buying property in Turkey. However, it takes for foreign buyers to complete the purchase formalities 4-6 week time.
Buying property in Turkey for foreigners are almost similar as Turkish citizens accept the security investigation by Military which takes 4-6 weeks. Because it’s required that Military authorities should approve the property that will be sold foreigner is not in the restricted military zone in order to complete the free hold title deed transaction.
If any foreign citizen has already bought property before in the same building or in land plot, then it is not required to receive this military approval for each time. To include the copy of title deed or owner ship certificate of the property that a foreign person possessed in the same building will be enough to complete purchase formalities and title deed transaction within 2-3 working days.
A new law dated 03 May 2012 with In accordance with the Article 35 of the Land Registry Law No. 2644, amended by Law No. 6302, which entered into force on 18 May 2012, the condition of reciprocity for foreigners who wish to buy property in Turkey is abolished. Persons with foreign nationality can buy any kind of property (house, business place, land, field) within the legal restrictions.
Turkish government is targeting to attract the foreigners buying property in Turkey with this new law. This new regulation allows almost the entire nationalities to buy property in Turkey accept some citizens such as Syrian, Armenian, North Korea and few more which Turkish Ministerial Committee found inconvenient. The properties which foreigner can buy should not exceed % 10 of the private properties in the municipal zones, and land should not be bigger than 30 hectare. Companies with foreign owners can buy over 30 hectare with the approval of Turkish Council of Ministers.
New law in Turkey enables foreigner to have Turkish Citizenship if they keep the property more than 5 years in their possession.
Our experienced customer service department provides more detailed information about buying procedure in Turkey for foreign nationalities.