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FAQ

Frequently Asked Questions

Q1: Do foreigners have the right to own properties in Turkey?

Yes, they do. Turkish Parliament has issued a decree in September 2012, which gives foreigners the right of owning properties in Turkey.

Q2: What is the tax number? And how to get it?

Tax number in Turkey (vergı numarsı) is a number of your own, you are sometimes asked for it in legal and official transactions or when opening a bank account in Turkey. You can get it easily through the following:
Bring a copy of your passport and your address in Turkey.
Go to the nearest tax directorate (vergı müdürlüğü) in your neighborhood and ask for a tax number. They will enter your information into the system and give you a card with a tax number of your own.

Q3: Are the prices of properties the same for Turkish citizens and foreigners?

Yes. There is a price list which is the same for both Turkish and foreign buyers. You can be sure that all conditions are the same for all buyers.

Q4: Is the taxation system the same for Turkish citizens and foreigners?

Yes. The taxation system is exactly the same for everybody.

Q5: Wouldn’t I get a cheaper price for properties when I go to the developer directly?

No. Even if you go by yourself or with our real estate consultant, the same prices are offered by the developers.

Q6: How can I open a bank account in Turkey?

In order to open a bank account, first you need to get a Tax number. After that you need to provide:
- A statement showing your current address (it could be an electricity or gas bill, or a bank statement from your country).
- Your passport.
- Your tax number.

Q7: How can I get a residence permit in Turkey?

Foreign visitors can stay legally in Turkey for maximum 90 days with a tourist visa. After they buy a property and get the title deed, this directly gives them one-year residence permit that can be renewed later.

Q8: Can my family get a residence permit in Turkey?

Yes. Your wife and your children under 18 years old can also get a residence permit after your application.

Q9: How to get Turkish citizenship?

You can obtain Turkish citizenship through the following methods:
- Investment with a capital of $500,000 or the equivalent of other currencies in the technological or industrial fields.
- Investment of $250,000 in real estate sector for three years without selling the property.
- Setting up a company and recruit 50 Turkish citizens.
- Deposit $500,000 or the equivalent of other currencies in Turkish banks or the Treasury of the State or the Turkish Investment Fund for 3 years.

Q10: How many properties can I own in Turkish territory? And what is the minimum period the process of buying properties in Turkey takes?

The number of properties you can buy is unlimited. Also, more than one person can own the same property. Concerning the period, on average, purchasing process does not take more than 3 days.

Q12: Do I need a visa to enter Turkey? How long does the Turkish visa last ?

Yes, you do. You can get a visa either at the airport or when you go to the Embassy of the Republic of Turkey in your country. The visa lasts for three, subject to renewal, months. Moreover, you can get a six-month residence permit, which is also subject to renewal.

Q13: What are the bank means to transfer money from my country to Turkey? Are there any participation banks between the Gulf States and Turkey to facilitate the transfer of money ?

You may open an account at any Turkish bank very easily and then transfer money. You also may open an account at any Gulf Turkish participation bank such as the Kuwait Turkish Participation Bank (Kuveyt Türk Participation Bank) or in its branches such as Kuwait Finance Bank in Kuwait, and then you may ask for money as if you are in your home country.

Q14: What is the average price of a property in Turkey? Is there any installments system?

The price of a property varies from one city to another and from a district to another within the same city, but on average, it is fair to say that you can own a good apartment for 60,000 $. And yes, the installments system is available in Turkey.

Q15: Can I define my attorney to run the property due to transactions in Turkey?

Yes, you can by authorizing your attorney in your country, translating the authorization (sworn translation) and getting it authenticated by the Turkish Embassy in your country.

Q16: After buying the property, how could I provide it with gas, electricity, water and internet services? Then how could I pay the bills during my absence?

You have to go to gas, water, and electricity companies, pay a nominal amount insurance, and register meters respectively on your name.

Q17: How can I get benefits from the property during the months that I would not be in Turkey?

You may either rent the property or offer it for real estate investment, and the renter can transfer the monthly payments to you via the bank.

Q18: Is it possible to come to Turkey in my own car and register it in Turkey?

Yes, but the car entrance shall be through either land border crossings or seaports. That would happen without paying any taxes, on condition that the car leaves Turkey within six months. Otherwise, you have to pay a tax.

Q19: What does a housing project with the guarantee of the Turkish government mean ?

The term construction company projects affiliated with the government sector refers to those projects that are based on a partnership between construction companies affiliated with the Turkish government and private companies , where the state construction company provides land that is naturally owned by the state , while the construction company builds and executes the project that is under the supervision of the government Turkish in terms of building quality and accuracy in appointments and specifications , and in most cases the executing agency is a reliable and strong company .

Q20: What are the measures taken by the Turkish government to ensure the projects of its construction companies ?

Turkish government guarantees the right of the buyer to all phases of the project , starting with the pre-sale stage , in which the Turkish government follows up on all licenses that the construction company extracts to implement this project . It also checks all promotions on which the project is marketed . In addition to visiting the project by Turkish government experts to inspect the typical apartments in sales offices before the project starts for sale .

Q21: Can a foreigner invest his real estate in Turkey by renting it on a daily or monthly basis? What is the tax that the property owner must pay?

Yes, the buyer has the right to invest his real estate in Turkey by renting it on a daily or monthly basis. As for the tax, it is 18% monthly transferred automatically from the real estate owner’s account in Turkey to the Finance Department. And this tax shall be dropped that the landlord wants to obtain the monthly return in cash, not through the bank.

Q22: What are the returns on investment in an average in Turkey?

Returns of investment in an average in the city center are significantly lower than the rest areas, they range approximately between 4-5%, but in developed and modern areas the percentage rises to 7-8%, in addition to that, when you buy in the initial stage of construction, rental returns and the value of the property rise around 15-20% annually, so it is very easy to get 100% profitable from your property in a few years in Turkey.

Q23: How long does it take to buy a property in Turkey and receive the title deed?

The buying process begins with organizing the buyer's business visit to Turkey to see the project and signing the purchase contract with the company, and a two-day period is sufficient to complete this first step, while registering the property in the name of the buyer may take between 45 to 60 days, so you must come to Turkey twice once to sign the purchase contract and once again to receive the title deed of the purchased property.

Q24: Is it possible to obtain a residence permit for owning a property in Turkey? Is it possible to practice a profession within this permit?

After completing all official transactions and receiving the title to the property from the Land and Land Registry in the city in which it was purchased in Turkey, it is possible to apply for a residence permit request for all family members (meaning family members here: father, mother, wife or husband and children of different ages). The Public Security Directorate in the city itself has the requirement that all people come to Turkey in person upon application. This permit authorizes the buyer to live and move in Turkey and enter and exit from Turkey. This residence can open a company in Turkey and learn the Turkish language in one of the language schools. As for practicing a certain profession under the framework of obtaining a job in the private sector, it is necessary to check with the Ministry of Labor in the capital Ankara to obtain working permission.