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The rights of foreign real estate owners in Turkish law

The rights of foreign real estate owners in Turkish law

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Businessmen and owners of funds tend to investment in the real estate sector in Turkey , as real estate investment in Turkey is one of the most important aspects of investment in the country , especially for foreigners , and it is one of the safest and most profitable sectors for investors , and Turkey has paid close attention to the importance of foreigners real estate investors , especially those from Arab countries and the countries of the Middle East , and therefore this interest has produced more laws that raise the level of reassurance of foreigners and Arabs in Turkey in order to obtain good , profitable and suitable real estate investment opportunities for them in Turkey , achieving satisfaction and interest .

 

RH 80- Apartments with Bosphorus view and suitable payment plans in Sisli 

A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .

The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .

The project location is just 8 minutes away from Taksim .

This project has been designed in line with the highest quality standards in real estate in Turkey .

All apartments have private balconies with views of Istanbul or the Bosphorus .

The project includes special facilities that provide residents with comfort and entertainment and meet all their needs such as swimming pools , gym, walking paths , sport courts and restaurants , in addition to surveillance cameras and security .

Invest in this project today and benefit from its prices which will increase by 40% after the completion of the project .

All the project details in this link : RH 80

 

 What are the most important rights granted to investors in the real estate sector in Turkey ? 

  1. The right to obtain a real estate residence in Turkey :

Real estate residency in Turkey is a right of foreign real estate owners in Turkey , and it is granted by the Immigration Department in the state in which you own the property , and it allows its holder to reside on Turkish lands legally with the ability to travel to and from Turkey without the need to obtain a visa .

As for the duration of the real estate residence in Turkey , it is usually granted for one or two years , with the possibility to renew it annually as long as the property is in the name of the resident person . This matter distinguishes real estate from tourism in Turkey , which makes it better than it in terms of the possibility to renew the residence annually without any complications or obstacles .

 

The Turkish government grants foreigners who buy a property in Turkey , whatever its price or value , whether it is within a housing complex project or another property , the right to obtain a real estate residence in Turkey , which gives the foreign holder several advantages , including :

  • The right to enter Turkey for the duration of the residency without the need for a " visa " entry , and it is also possible to exit from Turkey at any time without fear of canceling the residency as long as the property is in your name .
  • The right to travel between Turkish cities through domestic airports or other means of transportation .
  • Granting real estate residence to the companions of the real estate owner , to : the wife / husband , with children under the age of 18 .
  • You can also take advantage of the characteristics of residency in Turkey in general and enjoy all your rights as a foreigner legally residing in Turkey .
  • The right to renew a real estate residence in Turkey as long as the property remains in your name .
  • The right to obtain education and health services in Turkey free of charge or for small nominal amounts .
  • After eight years of residency in Turkey , you have the right to apply for long-term residency in Turkey .
  • Real estate residence in Turkey does not grant its owner the right to obtain Turkish citizenship unless the property price exceeds 250 thousand US dollars , then the property owner can apply for Turkish citizenship .

The right to reside in Turkey is also an important motivation for foreigners to buy real estate in Turkey , especially after stressing the renewal of tourist residency by the Emniyet Department , and its renewal has become more complicated before , so real estate residency in Turkey has emerged as an alternative and a way to extend your presence in Turkey legally .

 

What are the necessary steps to obtain a real estate residence in Turkey ? 

  • Buy a property and get a title deed document in Turkey .
  • Reserve an appointment for residency and choose to own a property in Turkey.
  • Preparing the necessary papers to obtain real estate residency .
  • Attend the interview on the date specified for you at the Immigration Administration building , and submit the necessary papers and documents .
  • Paying the fees of real estate residence in Turkey .
  • Waiting for approval by the Immigration Department in Turkey , where the residence card is sent by Turkish post .
  • As for the renewal of the real estate residence , it is the same steps , starting from reserving the appointment for renewal to obtaining the real estate residence by Turkish post .
  • As for the companions of the real estate owner such as the wife and children under the age of 18 , they apply for real estate residency in one file with the real estate owner , and they attend the interview together, and they are approved in one payment .

 

RH 180 - Ready luxurious homes with direct sea view in Zeytinburnu

The project was built on a land area of 63.500 square meters . It consists of 6 residences blocks plus 1 hotel block , with its green spaces of 51.500 square meters .

The project offers apartment options ranging from 1+1 to 5+1 , in addition to garden duplex and penthouse .

The project located on the European side of Istanbul , in Zeytinburnu district , on the shore of the Marmara Sea ,  just outside the walls of the ancient city .

The project located at the very intersection of all new transportation systems , road , sea and rail systems of Istanbul right beside the Historical Peninsula .

In this project , the sea will become part of your daily life . You can reach the marina with only one minute’s walk from your home over the footbridge directly connecting the project to the shore .

The project includes many services and facilities that meet all your needs , such as parking for cars , video intercom system , gardens , playgrounds , swimming pools , sauna and others .

The project also offers security and surveillance cameras 24/7 .

The project is ready for delivery , and for more details please visit the project link here : RH 180

 

  1. The right to obtain Turkish citizenship if the property value is $ 250.000 :

One of the most important incentives provided by the Turkish government to real estate investors , is obtaining Turkish citizenship through real estate investment in Turkey , if the value of the real estate bought by the foreigner is at least 250 thousand US dollars , whether it is the value of one property or the sum of several properties .

Also , there is no legal difference between any type of real estate in Turkey that gives you the right to obtain Turkish citizenship , whether these properties are lands , villas , apartments , offices , or buildings , as long as the general total of real estate prices reaches the minimum level to obtain Turkish citizenship , which is 250 thousand USD .

On the other hand , a foreigner is also entitled to purchase real estate in Turkey in more than one Turkish city , so that all real estate he buys to obtain Turkish citizenship is not required in the same city .

The Turkish government also gave foreign real estate investors several incentives to obtain Turkish citizenship in exchange for buying real estate , and these facilities can be summarized as follows :

  • Reducing the minimum real estate investment for obtaining Turkish citizenship from one million US dollars to 250 thousand , and this matter contributed to increasing the number of foreign investors looking for Turkish citizenship , as about a thousand foreign investors obtained during the year 2019 Turkish citizenship through investment and the majority of them Real estate investments in Turkey .
  • Opening offices to facilitate coordination between the relevant Turkish ministries to save time and effort on those seeking Turkish citizenship through real estate investment , and to ease the routine of legal procedures .

 

What are the documents required to obtain Turkish citizenship when buying a property in Turkey ? 

  • A copy of the Tapo ( title deed of the purchased property ) , or the promise of sale contract with the notary ( Noter ) .
  • Valid evaluation report of the property , the validity of the real estate evaluation reports is three months , and the value does not exceed the value recorded in the title deed , and has a specific issuance cost , and is extracted within two or three working days by a valuation institution licensed by the Turkish government .
  • Original payment receipts from the buyer's account , stamped from the sending bank .
  • Original receipts from the seller's account , stamped from the receiving bank .
  • Two copies of the proxy of the application for citizenship , granted by the investor to the law firm to submit the file of citizenship , and follow-up with the official departments . The proxy is organized through a Notary in Turkey ( Notre ) at an estimated cost of 600 to 700 Turkish Lira per copy . If the investor's spouse is added to the naturalization file , a similar proxy must be provided for each of the spouses , and one joint proxy may be organized for the client and his wife . The fees of the legal team vary according to each case in terms of the number of papers and the number of individuals in the file and others .
  • Translation of the passport into Turkish , certified by a notary in Turkey ( Noter ) for the whole family : husband , wife , and children under 18 years of age .
  • Picture of the last Visa and entry to Turkey .

 

RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest 

Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .

The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .

The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .

Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .

Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .

Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .

The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from  Istanbul's third airport , which gives it strategic and investment importance .

The project is located near the metro station and public transport .

The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .

The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .

The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .

All the project details in this link : RH 163

 

  1. Real estate valuation in Turkey :

The compulsory valuation decision for real estate was issued by the Ministry of Housing of Turkey and came into force in early 2019 . The law stipulates that real estate evaluation should be obtained by the competent authorities at the commencement of the procedures for acquiring the property or the title deed of the property purchased . Obtaining real estate evaluation was mandatory for those who are seeking to get Turkish citizenship by purchasing a property in Turkey , but the amendment to the law obliged anyone who sells a property of any kind to foreigners in Turkey to undergo the evaluation . A list of real estate evaluation companies who are approved by the Turkish government has been issued , and any real estate evaluation issued by any other company that is not on this list will not be accepted .

Previously , a foreigner who seek to buy a property in Turkey in order to get Turkish citizenship had to obtain a real estate valuation , which proves that the property is valued at $ 250.000 or its equivalent in Turkish Lira , but the Property Valuation Law has been updated to include all purchases of real estate in Turkey that is carried out by foreigners , to ensure they get real estate prices without any manipulation . The property evaluation report in Turkey is valid for three months from the date of the issuance of the report . There is a new update on this law to include all transactions of sales and purchases of real estate in Turkey , regardless of the parties involved , that is , if a Turkish citizen wants to buy a property , want to buy this property , whatever its price and whatever its type , must be subjected to real estate valuation . The move would increase the credibility of the Turkish real estate market .

 

Real estate valuation aims to protect foreigners from any manipulation of the price of real property . The competent authority evaluates the price of the property based on several factors , namely : 

  • The area of ​​the property and the date of construction : where the total area of ​​the property is considered , in addition to the type of property whether it is commercial or residential , and how old the construction is .
  • The views : the property is evaluated in terms of the view , in case the property is overlooking the sea , for example , or if the property overlooks a forest , a main street , or so on .
  • Social facilities and services provided by the residential complex : such as swimming pools , gyms , parking lots , etc . The quality of the services and its availability within the complex play a big role in raising the value of the property .
  • The status of the property : in the sense of its condition in terms of seniority , and in case it has cracks , for example , the level of finishes and cladding in the construction , as well as its facilities such as water , electricity and gas meters are also relevant in the evaluation of the property .
  • Legal status of the property : it is to search the legal documents related to the property , such as licenses , and to make sure that there are no impediments to the transfer of ownership between the seller and the buyer , such as the presence of a reservation on the Tabu , for example .
  • The level of surrounding properties : when evaluating the property , look at the price of the properties surrounding the project , and get a comparison between the price of the property to be owned by the foreigner and the surrounding properties .
Eresin Project