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    Detailed Information About the Real Estate Law in Turkey

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    jacktandy00

    Messaggi : 23
    Data d'iscrizione : 2018-06-06

    Detailed Information About the Real Estate Law in Turkey

    Post by jacktandy00 on Mon Sep 24, 2018 2:05 pm

    How and when was the announcement of real estate ownership law for foreigners in Turkey?
    The Turkish government has made significant amendments to the Turkish Real Estate Law regarding the conditions that must be met by foreign individuals wishing to own real estate in Turkey by approving the law number 6302 on 05.05.2012, where they lifted some restrictions on the ownership of foreigners. And provided some facilities in the conditions to be met by foreign individuals wishing to own real estate in Turkey, with restrictions imposed on citizens of some neighboring countries of Turkey.
    The law of property ownership in Turkey does apply the principle of reciprocity
    With this law, Turkey has given the right of property ownership to citizens of 183 countries without being subject to reciprocity. The most important reason for issuing this law, which opened the way for foreign investors to own real estate in Turkey, is to increase the desire of investors to invest in real estate sector. The most important part of this law is canceling the reciprocity conditions for foreign investors. Thus, individuals from foreign countries are able to buy a property in Turkey, although Turks are not allowed to own the property in those countries to which those individuals belong. The principle of reciprocity is the rights and privileges granted by one State to the nationals of the other State, and the same privileges and rights are accorded to the nationals of those States.
    Restrictions included in amendments to the law of real estate ownership in Turkey
    This law imposes some restrictions on areas that can be owned by foreign individuals. According to the law, the total of what foreign individuals own must not exceed 10% of the area space, and the total space of land that can be owned by one person throughout Turkey should not exceed 30 ha Acres, The right to raise this area to 60 hectares is given to the cabinet, moreover, before this law, spaces that can be owned by the individual did not exceed 2.5 hectares across the county.
    In addition, the amendments to the Ownership Law in Turkey have linked areas that can be classified as military zones with the approval of the army chief of staff and the leaders they represent, as well as with land that can be classified as special security zones, Where it is linked to the approval of the state (province) where the property is located.
    What about foreign companies established outside Turkey?
    According to Article 35 of the Turkish Real Estate Law, foreign commercial companies, which have the status of legal entities and are incorporated according to the laws of their country, can own real estate in Turkey under special legal provisions (Tourism Marketing Law No. 2634, Industrial Areas Law No. 4737, Oil Law No. 6326), And other business companies established outside the country cannot own real estate in Turkey.
    Turkish companies with foreign capital
    According to article 36 of the law, if the company established in Turkey is foreign capital, and individuals are foreigners, foreign legal entity or international corporation owns 50% or more of the capital of this company or has the right to appoint and dismiss the majority of the company's board of directors, thus, The Company's right to own real estate is limited enough to cover the Company's activities contained in the Company's contract.
    Empty lands
    According to Article 35 of the Real Estate ownership Law, foreign individuals or foreign companies established in accordance with the laws of their country are obliged to submit the projects that will be developed on the vacant, non-built lands and that were purchased by the concerned ministries within two years from the date of purchase. According to Circular No. 1734 of the Ministry of Environment and Urban Civilization, in the case of approvals for projects that will be developed on empty lands that are not built to the Department of Real Estate Department, it is necessary to inform the registration data in the following form (the project was approved by the Ministry, date, day etc.)
    If the approved projects are not reported or not completed within two years, the local administrative units of the Ministry of Finance will contact the Real Estate Department regarding the liquidation of the property, where this shall be two years after the date of acquisition.
    Foreigners wishing to invest or purchase property in Turkey are required to take into account the following matters:
    • Finding out if they can get the right to own real estate or limited rights in kind.
    • Transfer of ownership of property in accordance with the laws and legislation in force in Turkey.
    • The total area of property purchased in all Turkey should not exceed 30 hectares.
    • Getting to know if the properties they want to buy fall within a security or military zone or areas that are not allowed to sell, because properties located in the security zones may not be sold to foreigners.
    • Visiting the real estate department and getting sufficient information regarding the property in question, such as whether the landlord has the right to dispose of the property or that the property in question is mortgaged or subject to any other action to prevent its sale.
    • Not to sign contracts that have the legal characteristics and not to pay any amount as the price of the property, before getting sufficient information of the property concerned from the directorates of real estate records.
    • The sale and purchase transaction shall not begin before the search and investigation of the persons or companies selling the property, and in the case of lack of trust or seriousness with the seller, it is not advisable to deal with.
    • If there is any difference in the buying and selling process, the matter must be referred to the court where the proceedings are held in the Turkish courts. The Turkish Ministry of Foreign Affairs or any foreign representative cannot interfere in the conduct of the case.
    General procedures adopted by the directorates of the real estate department in accordance with Circular No. 1734 of the Ministry of Environment and urbanization in regard to the ownership of foreign property and property limited rights
    • Examining the terms of ownership in terms of the nationality of the (applicant).
    • Investigating the property in question whether the property is located within a prohibited military zone or military security zone or in strategic locations.
    • Take the undertakings mentioned in the previous circular regarding the determination of 30 hectares of ownership.
    According to the circular issued by the Ministry of Environment and Urbanization, properties obtained in violation of Article 35 of the Real Estate Law or properties that are used in a manner contrary to the purposes of the acquisition will be subject to liquidation.
    List of special conditions and restrictions on foreign ownership of real estate in Turkey by country
    There is no explicit list of countries whose citizens can own real estate in Turkey because the laws and decrees section of the Presidency of the Council of Ministers have kept this list in their archives and not shown to the public opinion, but the information contained in the classifications listed below has been collected from the press and do not have any legal status.
    According to the results of research and press studies carried out in this regard, it can be said that the number of countries that can freely own property in Turkey rose to 129 countries, while the number of countries that imposed on their members some conditions and restrictions and approvals are 52 countries.
    Countries whose citizens are entitled to own property in Turkey without any conditions
    Saudi Arabia, Kuwait, UAE, Qatar, Yemen, Oman, Sudan, Germany, America, Argentina, Azerbaijan, Bangladesh, Barbados, Belarus, Belgium, Benin, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Djibouti, Chad, Jake, Finland, France, South Africa, South Sudan, Georgia, Netherlands, Honduras, Britain, Iceland, Jamaica, Japan, Kazakhstan, Kyrgyzstan, Republic of Korea, South Africa, Sweden, Switzerland, Kosovo, Costa Rica, Luxembourg, Madagascar, Macedonia, Malawi, Malaysia, Mali, Norway, Panama, Suriname, Turkmenistan, Uganda, Venezuela and New Zealand.
    Countries whose citizens are entitled to own only one home in Turkey
    China, Denmark, Fiji, the so-called State of Israel (Occupied Palestine), Malta
    Countries whose citizens are entitled to own real estate in Turkey after the approval of the Ministry of the Interior
    Australia, Austria, Bahamas, Bahrain, Algeria, India, Pakistan
    Countries whose citizens have the right to own a land, a dwelling, a place of work only
    Morocco, Hungary, Marshall Islands, Egypt, Micronesia, Vietnam
    Countries whose citizens are entitled to own real estate in Turkey but under special conditions
    Country State requirement
    Iran Shall not be among persons prohibited by the United Nations, approval by the Ministry of the Interior,
    a land of construction, a dwelling, a workplace only
    Russia Not be within the Black Sea coast, approval from the Ministry of the Interior
    Ukraine Shall not be within the Black Sea coast, approval from the Ministry of the Interior,
    an urban land, a dwelling, a workplace only
    Greece Land, workplace, provided that it is not within the border and coastal cities
    Albania A dwelling and a workplace only
    Jordan Two homes and one workplace
    Iraq Approval from the Ministry of Foreign Affairs and Interior, land of construction, dwelling, workplace only
    Tunisia The approval of the Ministry of the Interior, the land of the building, the dwelling, the workplace only
    Northern Cyprus Granted the same rights as the Turks


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