Everything about Libyans owning property in Turkey
Turkey is considered as the first destination for Arab investors and those who want to stay in it, for the purpose of study or work. This has been helped by the ongoing facilities provided by the Turkish government, most recently the opportunity of ownership for foreigners, where it became easier to buy property in Turkey and transfer ownership in the state departments from the owner or the construction company directly to the buyer, and the along with obtaining residence permits that help them to manage their legal matters within the country.
It opened the door to them by a decision issued by the government on May 3, 2012, and approved law No. 6302, which provides for lifting restrictions on the ownership of real estate for foreigners in Turkey, and has provided them with many facilities in the conditions that must be met by foreigners seeking to own real estate in Turkey.
There are several queries about buying real estate in Turkey, the most important of which are:
- Can a Libyan buy a property in Turkey and register it directly in his name?
- What type of real estate does Libyan passport holders can have?
- What are the required documents to complete all the procedures related to the title deed?
- Does the property law which 250.000$ grants Turkish citizenship include Libyans?
- What are the fees imposed on Libyans for ownership a property in Turkey?
- In the case of the death of the landlord, what is the Turkish inheritance law, and what happens to the property in the case of such an order?
Are Libyans entitled to own property in Turkey?
After the amendment of several laws by the Turkish government, the most important of which was the law issued in 2012, which opened the door to foreigner for ownership in Turkey for any type of real estate, whether apartments, villas or shops. Libyans were among the nationalities that are entitled to buy property in Turkey without conditions or restrictions, which in turn led to an increase in the number of Libyans and capitals from Libya within the Turkish labor market in general and the Turkish real estate market in particular.
What advantages does the Libyan get when buying a property in Turkey?
- The owner of the property in Turkey is granted a residence permit that entitles the owner to enter and leave the country without any need for a visa to Turkey, and gives the owner the right to move within Turkish cities in all comfort, as well as the right to grant his wife and children a real estate residence permit through his property, this residence permits for a year or two years and they are renewable.
- The Libyan property owner can enjoy all services in Turkey through the residence he holds, such as running government papers and registering his children in Turkish and international schools.
- The Libyan real estate owner can open a bank account in Turkey through real estate residence.
Does the Turkish citizenship law include Libyans?
The law issued on 19-9-2018 includes Libyans, which authorizes the landlord with a value of 250.000$ in Turkey to apply for Turkish citizenship after completing all the conditions and papers related to it.
What are the documents required to complete the procedures of acquiring a property in Turkey for the Libyan?
- Copy of the passport translated into Turkish and certified by the Turkish Notary or the Turkish Embassy abroad.
- Issuing a tax number from the "Emniyet".
- The existence of receipts for the payment of the title deed.
- 4 personal photos.
- The existence of owner of the property or any person to replace him (provided that there is an agency documented by the Turkish notary with him).
According to the latest studies carried out by real estate investment centers in Turkey, the number and percentage of foreigners who own property in Turkey increased by 31% in 2018 compared to the previous year, with the continued influx of foreigners into the Turkish property market and the rising number of properties sold annually.