Can I get a residence permit in Turkey (residence visa) if you purchase a property?
Depending on the new law, each foreigner can obtain a residence permit for one year (renewed each year with the title of Tapu) until the sale of your property.
Are there any restrictions for foreigners to buy a property in Turkey?
Foreigners are not allowed to own property in military areas.
Can foreign companies buy real estate in Turkey?
Yes, your company can own real estate in Turkey if your country has a mutual agreement between Turkey.
Who determines the price of the property?
If you buy a property in a new development area, the price will be determined by the developer. Regardless of the estate agent's commission.
Can everyone sell real estate in Turkey?
Yes, leather jewelry wholesalers and dealers are the most recognized real estate sellers in most tourist areas of Turkey.
What are the real estate agent services fees?
When a property is sold, registered real estate agents and licensors are entitled to a 3% service charge on the actual sale price of the property from the buyer and the owner of the property separately.
Who can buy real estate in Turkey?
All nationalities can buy a property in Turkey.
There are only three countries Turkey has frozen diplomatic relations with - North Korea, Armenia, Syria.
Some countries prevent Turkish citizens from owning land. For this reason, these countries are not allowed to own in Turkey. There are some exceptions like Russia. Russian citizens can buy with special permission from the Ministry of Internal Affairs.
What is the title deed (Tapu)?
The title deed is called "Tabu" and all foreign real estate transactions are carried out only through the Directorate of Land Registry of the relevant area in which the property is located.
What documents are required?
Your passport, which will be copied and translated into Turkish with passport-size photographs. The notary's office works alongside the Tabo office and military headquarters in the Aegean Sea. Documents translated by the military will be examined to ensure that there is no record of a criminal act or activity against Turkey and that any property purchased by a foreigner is not near a military zone or intended to be used for any military purpose.
Why real estate is so cheap in Turkey?
The Turkish economy is at the beginning of maturity, and inflation has fallen from 30% to 7% manageable in the last few years has led to the survival of prices are low but started to rise. This is partly due to the interest of foreign investors and also to the increasing mortgage options that have begun to emerge for citizens in Turkey. As the mortgage market becomes more competitive, it opens up to foreign buyers as well, and prices will continue to rise.
Are there any ongoing taxes?
State property tax, environmental taxes and wealth tax. However it is relatively low and your lawyer will explain it to you.
Can I secure my property?
Yes, you can .
Can I rent my property?
Yes, the main season from April to October but you will be able to rent them during the winter months at low prices. At the height of the summer you can expect more austere.
What is the system of government in the country?
It is an elected democratic government. Turkey is also a permanent member of NATO.
Is there a property management service?
Yes, there are some companies that offer property management service in Antalya and Plek.
Do Arab citizens have the right to invest in Turkey?
Yes, according to the Turkish law, all citizens of the countries of the Middle East, as well as North African citizens, are entitled to buy property on the territory of the Republic of Turkey. The property is then registered in the name of the purchaser of the Tapu ve Kadastro Dairesi Within Turkey.
How long does it take to buy a property in Turkey and receive a title deed?
The purchase process begins with the organization of a working visit for the buyer to Turkey to see the project and sign the purchase contract with the company. Two days are sufficient to complete this initial step. Registration of the property on behalf of the buyer takes between 45 and 60 days, so it is necessary to come to Turkey twice to sign the purchase contract And again to receive title to the property purchased.
Is it possible to buy without coming to Turkey?
Yes, it is possible to buy without coming to Turkey.
Is it possible to send a friend or family member to receive the title of the property on behalf of the original buyer?
Yes, it is possible to obtain a personal agency that can be requested from the Turkish embassy in the country of residence outside Turkey.
Is it possible to obtain a residence permit when owning a property in Turkey? Is it possible to practice a profession in this statement?
After the completion of all official transactions and the receipt of title to the property from the Land Department and the Land Registry in the city purchased in Turkey, you can apply for a residence permit for the whole family. (Family members here: father, mother, wife or husband of different ages ) At the Public Security Directorate in the same city, provided that all persons are personally present at the time of application. This permit authorizes the buyer to live and move in Turkey and to enter and leave Turkey. This residence can open a company in Turkey and learn Turkish in a language school. For a specific profession under the private sector, working permission.
What is the value of a property tax in Turkey, and is it annual?
The property tax in Turkey is 3.9% of the total value of the property, paid only once by the Land Department and the real estate register at the moment of registration of the property on behalf of the buyer and receipt of title deed, which is not annual at all.
Is an Arab buyer entitled to sell his property whenever he wishes?
Yes, the Arab buyer has the right to sell his property whenever he wishes and can sell his property to a Turkish citizen or another foreigner. There is no tax payable by the seller then.
Is it possible to buy real estate in installments in Turkey?
Yes, you can get a mortgage from a Turkish bank. This requires the following documents: A copy of a personal bank account book from a bank in the country where the buyer resides outside Turkey, a copy of the passport, a pension and information about the company he works in. The buyer in the country of residence.
Is a citizen of Arab countries entitled to buy and register more than one property in his name in Turkey?
Yes, of course he is entitled to do so, and there is no legal impediment to him provided that the area of land or real estate registered in his name does not exceed more than 2.5 hectares.
Are two or more persons entitled to participate in the ownership and registration of the same property in the name of all the owners of the property?
Yes, according to the Turkish law on the ownership of foreigners, any two or more persons who do not have any family relationship with the same property are entitled to share, and the deed of ownership of the property is registered on behalf of all persons.
Is the title deed (Tapu) written in Arabic or English?
All data written in the deed of title of the property is in Turkish because there is no other official language approved in the Turkish Republic. Upon delivery of the bond translates to the foreign buyer some important points by a sworn translator in the Land Department and the Land Registry in the city that has been purchased within Turkey.
In the Turkish construction law there is a so-called "construction according to the new earthquake standards", what is the meaning of these standards?
After the disaster of the 1999 earthquake that hit the city of "Izmir" located in the Marmara Sea area near the city of Istanbul suffered heavy losses of Turkish state, the state worked to lay the foundations and new methods of construction in Turkey, until the decision to amend by the Ministry of Labor and Works Turkish In the year 2007 to impose new standards on building permits in order to avoid a similar disaster in the future, and the city of Istanbul has now gone a long way in this field as all construction companies comply with these new geological studies and other field application known as TS 500 and Deprem Yönetmeliği e A decision is also the old buildings restoration work and strengthen the pillars and foundations.
Is it possible to come to Turkey by car and register in Turkey?
It is possible to introduce a foreign car to the Turkish territory through one of the border crossings, without paying any taxes provided that it is taken out of Turkey within 6 months. Otherwise, the owner of the car must pay a financial tax based on the type of car, which is a fairly high tax. Within Turkey for those who wish to stay longer than six months.
Is ownership in Turkey a free possession for life or for a specified period, as in some countries where ownership is for a period of 99 years?
Ownership in Turkey is a lifelong possession and foreigners are entitled to inherit the property for their families and to register the heirs in the housing department in the city where the property is located.
Can a foreigner invest his property in Turkey by renting it on a daily or monthly basis? What tax should the landlord pay?
Yes, the buyer has the right to do so. As for the tax, 18% is automatically transferred monthly from the property owner's account in Turkey to the Department of Finance. This tax is deducted if the landlord wishes to obtain the monthly return in cash, not through the bank.
Before I enter Turkey Do I have to get a visa?
The GCC countries get the visa from the airport and we recommend that you check the Turkish consulate in your country.
What is the permitted stay in Turkey?
The normal visit visa is valid for 3 months and varies from country to country.
Can I get a visit visa that is allowed to stay in Turkey longer?
Yes, before coming to Turkey you can take a longer visa. This type of visa is valid for one year.
Do I have to open a bank account in Turkey?
No, to be able to transfer money from the bank located in your country should not open a bank account in Turkey. But many want to open an account in Turkey to transfer their money before the start of the journey and so their money is ready when the completion of the agreement, and this method of organizing the payment of invoices automatically. To open a bank account in Turkey, you must obtain a residence permit.
Should I register to pay tax in Turkey as a property owner?
Yes, you must obtain a tax number by checking with the Tax Department before starting another business.
Can I believe in the home and property of insurers inside Turkey?
Yes, many internationally recognized insurance companies and Turkish local institutions offer insurance options for buildings and properties.
What is the lowest amount to buy a property in Turkey?
Property prices vary by region where you want to buy a property and there is no minimum or maximum requirement.
When I want to buy a property, can I pay by installments?
There are a number of projects under construction that offer installments and installment payments.
Can I rent the property?
Yes, through coordination with a real estate services office.
What are the property purchase taxes?
The value of the registration tax and transfer of ownership of the property is 4% of the price of the property paid only once (usually distributed equally between the seller and the buyer), and if the purchase from a real estate company may add 18% sales tax may be borne by the buyer.
Are there annual taxes on real estate?
Yes, there are limited annual taxes on residential properties and you must ask to know them when buying the property.
What are the real estate agents' commissions in the Turkish real estate market?
The buyer pays 3% of the value of the property, and the seller pays 3% of the value of the property.
Can I sell the property at any time?
Yes, through coordination with a real estate services office.
Can I sell the property at any time?
Yes, through coordination with a real estate services office.
What are the taxes on selling the property?
The value of the property registration and transfer tax is 4% of the property price paid only once (usually divided equally between the seller and the buyer), plus 20% of the net profit goes to the tax authority.
What is the way a third party works to sell and buy real estate in Turkey?
The buyer goes to a notary public in Turkey for the work of the agency he wants in the presence of a certified interpreter accredited by the notary public or the agency's work in the buyer's country and translated into Turkish and authenticated by the Turkish Embassy in the buyer's country.
When I buy the property, can I register it directly in my name?
Yes, after obtaining the consent of the security authorities, which usually takes 3-6 weeks.
Can I buy a property in any city in Turkey?
Yes, unless it is next to security or military zones or the percentage of ownership of foreigners has been met.
How can you enter Turkey depending on your nationality, whether on a visa and how long you can stay in Turkey?
What should you do to book your apartment?
You must bring your passport when you go to review the project. 1% of the value of the sale will be paid as a booking fee either by your bank card or cash. The apartment will be booked in your name and the price will be fixed for two weeks until you pay the initial payment within two weeks from the date of booking. This amount will be deducted from the initial payment.
How do I get a bank account?
In order to obtain a bank account, you must go to the government tax office with your passport and get a tax number. You must present the following documents: a document showing your current address (possibly an electricity or gas bill or a document from your bank in your country), your passport, and your tax number. They are submitted to the Turkish bank where the account is to be opened.
How do I get a stay?
Foreign visitors can get a temporary tourist stay to stay in Turkey for 90 days. Once you have the title, this automatically gives you the right to a one-year stay. You can fill out the application form at https://www.eikametrandevu.com/goc-idaresi/islemler?gclid=EAIaIQobChMI8aOL1_LO4AIVBUQYCh12hgcHEAAYASAAEgIzsDP_BwE
Is it possible for my family to get a residence as well?
Yes, it is possible for your wife and children under the age of 18 to get a residence after you apply.
How do I get Turkish citizenship?
Foreigners must have an uninterrupted stay of 5 years in Turkey in order to apply for Turkish citizenship. Even if all conditions are met, there is no guarantee that the application will be approved by the Turkish authorities.
What are the penalties for my contract with the Project Management?
In most purchase contracts. There is an item relating to the penalty you will have if you terminate the contract. This can change about 10 - 20% of the selling price. At any stage when the buyer decides to terminate the contract, this fine will be deducted and the rest of the amount paid to the buyer by the project management.
What are my rights if the project management is not completed on time?
According to the law, the developer is entitled to an extension of 6 months to complete the project. After the expiration of this period, if the Developer fails to deliver, the Administration shall pay a monthly fine to the Buyer, as provided for in the Contract.
What is the average return on investment in Turkey?
The average investment returns in the center of the city are significantly lower than the rest of the region, ranging from about 4 to 5%. In the developed and modern areas, the percentage rises to 7-8%. In addition, when you buy in the initial phase of the building, rent returns can be projected. The value of your property will also be around 15-20% annually. When you consider all those factors, it is very easy to get 100% profitable for your property in some years in Turkey.
What are the benefits of buying in the early stages of construction?
If you want to make maximum profit possible in the project, you should buy in the first stage of construction. There is almost always a steady increase in selling prices from the early stages of the project until completion.
Which areas exactly are the center of Istanbul?
This is a very common question by foreigners, and there is a great misunderstanding here, since it is neither divided nor Sultan Ahmed considered Istanbul center. These are the main tourist areas.
Istanbul has a population of 17 million and there are 39 districts in the city. Many of these areas have a population of approximately 500,000 people living in all these areas and each has its own center depending on the area in which they live. For this reason, you will be able to find everything you need in the area where you live.
Can I pay in installments?
There is almost always a payment plan in installments until the completion of projects. The first batch ranges from 20% to 40% according to the project.
In some cases, there is a system of premiums even after the completion of projects. Sometimes, there may be plans to pay premiums for completed projects as well.
Do I have the opportunity to sell real estate before the project is completed?
Depending on the project you purchased, you can sell your property during the construction phase. There may be 2% - 3% commission payable to the developer if it is mentioned in the sales contract in some cases.
Can I apply for a mortgage in Turkey?
In order to get a mortgage through banks to buy real estate in Turkey, you need to have a regular income here. And because this is usually not possible, it is not possible to get loans by banks in Turkey.
What maintenance fees do I have to pay for the complex?
Maintenance fees vary by project. When there is more facilities in the complex, maintenance fees can be increased. However, compared to other cities like Dubai, maintenance fees in Istanbul are very reasonable. Typically, per month they will be about 1 - $ 1.5 per square meter. For example, for a two-bedroom apartment of 100 m 2, you will pay $ 100 per month maintenance fee for management.
What are the annual costs of owning real estate in Turkey?
Maintenance fees that reach about $ 1 - $ 1.5 per square meter per month.
Property tax which is 0.2% of property value per year.
How much is the insurance against earthquakes?
Compulsory insurance against earthquakes is around US $ 70-80 per year.
What are the final costs / taxes for purchasing the property?
Purchase Tax: 4% of the selling price. (Usually divided between buyer and developer where they are 2% per party).
VAT: 1% of the selling price. (If the area of the apartment is greater than 150 square meters, VAT is increased to 18% of the selling price).
Application of utilities (electricity, water, communications gas): about US $ 1000 maximum.
Stamp Duty + Notary Fee: Paid only for projects that are funded by the government. Usually VAT is not paid for these projects making the terms almost equal for the buyer.
What is the capital gains tax when I sell my property?
Tax rate capital gains varies from 15% - 35%. This tax will be paid in case you decide to sell your property within 5 years after you purchase the property. In other words, if you keep your property for at least 5 years and then sell it, there will be no capital gains tax paid to the government.
What rent tax should I pay?
The rent tax is gradually increasing to zero percent. After this limit, the tax will increase from 15% - 35%. However, many of the costs can be reduced from this income and this tax can be reduced. Please check the Useful Information section for more information on this topic.
Does owning real estate in Turkey have a lifetime?
Yes, whoever buys real estate in Turkey of any nationality will own the property in absolute terms and in other words with all its rights.
What is the inheritance law in Turkey?
Part of legal inheritance reserved for children 75% of the property and money of the deceased. It will be divided equally according to the number of children in the household. The remaining 25% goes to the spouse.
Can I get to Turkish food easily?
Turkish cuisine is one of the best in the world and is a common view of many people. Its variety gives everyone a reason to enjoy it. From where you are coming, you will get used to Turkish cuisine easily and begin to enjoy it.
Are there schools in English?
There are many schools studying English / Arabic in Istanbul at different locations where most foreigners study. In addition, Turkey has become an important country for students who wish to continue their studies abroad to attend university. Many universities have lectures in Turkish and English.
How is the climate in Istanbul?
Istanbul is one of the most fortunate cities in the world for its climate for all four seasons. The distinctive weather here can be seen as a cooler version of the Mediterranean climate. Spring is wonderful, perfect summer temperatures maximum 30 - 35 degrees, easy fall with blue sky, rainy rainy about 5 degrees.
Can I use a credit card in Turkey or is it better to have cash?
You can almost use your credit card everywhere and that is probably the safest way to do shopping.
Why does my phone not work with Turkish SIM card?
The Turkish government levies a purchase tax on those who buy mobile phones from outside Turkey. Your phone will be blocked within two weeks after the Turkish SIM card is started in Turkey. To activate it, you need to deposit 700 TL to the tax office and then take this receipt to the Turkish GSM operator and buy your SIM card.