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If the property price goes up and you want to sell it, what are the procedures?

If you want to sell in a period of 5 years from the date of purchase, you have to pay a tax according to certain segments of persons announced by the Turkish government annually and ranges from 15-35% of the value of net profits, while in the case of companies, the profits tax is fixed, which is 20% of the net profits of the company’s business, If you want to sell after 5 years there is no taxes, as is the case if the owner of the property company, not an individual investor.

 

How long does it take to get the title deed in Turkey?

The time it takes to acquire full title deeds within a foreign property property in Turkey is 6 weeks. But this time frame depends on your lawyer and your property.

What is Tapu (title deed)?

The Tapu is a legal document (title deed) which proves that you have property rights on your property in Turkey and all official title deeds are registered at the land registry office.

 

When I own a property in Turkey, will I need to do insurance against earthquakes?

Yes, having an earthquake insurance (Dask insurance) for private property is a legal requirement in Turkey. Most banks and insurance companies in Turkey offer Dask earthquake insurance service.

Can I delegate a person to manage the real estate buying process in Turkey?

Yes, by a legal proxy through the Turkish embassy or consulate in your country, or through the Notary if you wish to give the proxy from within Turkey.

Do I need a visa to enter Turkey? How much is the validity of the Turkish visa?

Some nationalities do not need any visa and can stay for 3 months a year in Turkey. Some nationalities require a visa from either the airport or the Turkish embassy in their country. The visa is 3 months renewable.

Are there any restrictions for foreigners in buying real estate in Turkey?

As a foreigner in Turkey, you can not own a parcel of land that exceeds 2.5 hectares (25,000 square meters). Foreigners and foreign businesses are not allowed to buy property, strategic areas or security areas in Turkey.

Foreigners are also prohibited from buying property in certain areas such as land which is strategically important in terms of energy, agriculture, mining, history, cultural values, biological plants and national security.

How many properties are you allowed to own?

For GCC nationals the number is not specified, and more than one person can own the property itself

What are the real estate prices in Turkey?

Property and land prices vary in Turkey to suit all budgets, but in general property prices in Istanbul are higher than in other Turkish cities. Of course, there are several factors that play a role in determining prices such as building age, area, proximity to transportation and other factors.

Do foreigners have the right to own property in Turkey?

Yes, in September 2012, the Turkish Parliament passed a resolution allowing the right to own foreigners in Turkey without regard to the principle of reciprocity.

Is it possible to obtain a residence permit when owning a property in Turkey?

After the completion of all official transactions and the receipt of title to the property from the Land Department and the Land Registry in the city purchased in Turkey, you can apply for a residence permit for the whole family (Family meant here: father, mother, wife or husband and children of all ages ) At the Public Security Directorate in the same city, provided that all persons are personally present in Turkey upon submission. This permit authorizes the buyer to live and move in Turkey and to enter and leave Turkey. This residence can open a company in Turkey and learn Turkish in a language school. For a specific profession under the private sector, working permission.