PURCHASE PROCESS - IDEAL ESTATES ALANYA

Property in Alanya. Ideal Estates, +90 532 777 4 777

BUYERS GUIDE

PURCHASE PROCESS

PURCHASE PROCESS FOR BUYING REAL ESTATE AS A FOREIGNER

There is no difference between Turkish citizens and a foreign person concerning the purchase process for land registry and cadastre procedures. Presently, citizens from 184 countries may acquire real estate in Turkey.

Foreign Natural (Private) Persons;

Foreign individuals looking to acquire real estate in Turkey must follow a specific purchase process.

Turkey offers an attractive opportunity for foreign nationals to own any type of property, whether it be residential homes, commercial premises, or lands. However, it is important for them to adhere to all legal restrictions and requirements in order to make a safe and successful investment.
Individuals who are non-citizens and buy undeveloped real estate, such as land or fields, must ensure that they develop a project suitable for the nature of the property. The project must be submitted to the relevant ministry for approval within two years of the purchase. Failure to apply to the ministry or complete the project within the given timeframe will result in the expropriation of the real estate.

Purchase Process for Companies with Foreign Capital

Turkish-established corporations hold full permission to purchase real estate and limited rights in REMs to conduct their operations as specified in their articles of association. To qualify as a foreign capital company, a corporation must possess over fifty percent of the shares of foreign legal entities or international organizations founded under foreign country laws and have the authority to nominate or remove most managers.

The governorships conduct inquiries in front of the appropriate registry directorate to ensure that these corporations do not operate in militarily restricted areas or security zones, as long as they reserve the provisions of the Military Forbidden Zone. The Land Registry Directorate provides necessary information within three working days, maximum.

Companies with foreign capital must present their “certificates of authorization,” which must include a list of authorized representatives, representation, and binding to acquire real estate. The certificate must include real estate approval and personnel data from the same year.

Purchase Process for Foreign Companies

Foreign trading companies can acquire property and restricted rights in Turkey, provided that their respective national laws include specific provisions.Legal entities can acquire real estate and hold rights in Turkey by following their country’s legal frameworks. For instance, a company established in Germany in accordance with German laws, with shareholders who are German, French, or Turkish nationals, can confidently acquire restricted rights in real estate ownership and management (REM) within Turkey. Such a company has full authorization to engage in business, industrial, or tourism-related activities.

Legal Limitations

According to Turkish Laws and Regulations, purchasing real estate and limited rights in REM is only allowed for nationals of specific nations. However, it is important to follow the prescribed rules and limitations:

According to Turkish laws, any foreign individual is strictly restricted to buying a maximum of thirty (30) hectares of real estate in the country.
Foreign non-domiciled individuals can sell up to 10% of their private property in a district if it’s located within the “Special Security Zone”.
The governorship of the district in which the real estate is located must provide authorization.
Land registry directorates can offer the necessary information. Real estate situated in military-prohibited and security zones is identified in the registry records.
It is strictly prohibited for any legal entity other than incorporated trading firms, which were established in compliance with their respective national laws and meet specific requirements, to purchase real estate or be granted restricted rights in REM. These laws must be followed and enforced to ensure compliance and avoid any legal consequences.

Sales Process Documents

Documents Required for the Purchase Process!

We conduct a thorough property inspection and diligently collect all necessary documents prior to drafting the purchase agreement. We leave no stone unturned in procuring the necessary documentation from both the seller/s and buyer/s.

Documents required for the Property:

The following Documents are required from the seller/buyer for the Property before submitting for purchase.

Copy of Title Deed (Tapu) contains mandatory information: owner’s name, location, type of Property, etc.

Up-to-date Title Deed Investigation Document: Searches are conducted to clear any obstacles or debts that may hinder the sale of the property.

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 as ownership and construction permissions.

Documents required by the Seller:

Seller’s required documents depend on their legal status as an individual or company for real estate transactions. For example:

If the property owner is a natural person,they need to have the Identity document of the title deed holder.
If the property owner is a Company (Ltd, A.Ş, for example), the Company’s legal documents are required.

Documents required by the Buyer:

The documents required for the buyers depend on whether the Buyer is a natural person or a Company. For example:

If the Buyer is a natural person, we request a copy of a valid identity card from Turkish citizens and a copy of a valid passport from foreign citizens.
If the Buyer is a Company, the companies’ legal documents are required for both Turkish capital companies and foreign capital companies.