PURCHASE PROCESS
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.
Purchase process for Foreign natural person, who would like to acquire real estates in Turkey:
Incorporated companies established in Turkey may acquire real estate and limited rights in REM (a judicial act directed against property rather than against a specific person) to operate as outlined in their articles of association.
For a company to be accepted as a foreign capital company, it must hold fifty percent or more of the shares of foreign legal entities or international organizations established under foreign country laws and have the power to appoint or dismiss the majority of persons authorized to manage.
Provided that the Military Forbidden Zone provisions will be reserved. Such companies’ real estate acquisition will be subject to investigation by the governorships to determine whether they remain in military forbidden and security zones. Such investigations by the governorship occur directly before the relevant registry directorate. The land registry directorate responds within three working days at the latest. In the case of real estate acquisition within special security zones, authorization is required from the governorship of the region where the real estate is located.
Companies with foreign capital must submit their “certificates of authorization” by showing the authorized representatives in addition to representation and binding in their applications to acquire real estate. The certificate of authorization must contain the authorization to purchase real estate. It must have the personal information of the persons authorized to act on behalf of the company. It must be dated to the same year as the procedure.
Shareholders representing 50% or more of the shareholding who are not Turkish citizens yet are established and registered with the Turkish Trade Registry (according to the applicable legislation of our country). It may be qualified as a “Company with Foreign Capital” and may acquire real estate ownership under the provisions of the legislation in force.
According to the laws of their countries, incorporated trading companies may acquire property and limited rights. Only if there are special provisions in the applicable laws.
It is only possible to acquire real estate and to have rights in Turkey for any legal entity if the trading companies are established in foreign countries according to the laws of such countries (incorporated or unincorporated foundations, associations, cooperatives, societies, groups, communities, etc.).
For example, a company incorporated in Germany under the legislation of that country, which has shareholders who are citizens of Germany, France, or Turkey, qualifies as a foreign company; and may only acquire limited rights in REM in our country within the scope of tourism, industrial or oil operations.
In our country, only citizens of the countries determined by Turkish Laws and Regulations can acquire real estate and limited rights in REM. However, the below guidelines/restrictions must be adhered to:
Before preparing the property purchasing contract, we first request all necessary documents to inspect the property. Our next step is to ask for all the required documentation from the seller/s and the buyer/s.
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 carried out to ensure no situations are preventing the sale of Property, such as debts or obstructions, etc.
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 from sellers depend on whether the Seller is a natural person or Company before submitting any real estate to sell or buy. For example:
The documents required for the buyers depend on whether the Buyer is a natural person or a Company. For example:
