Turkey has become a popular destination for foreign nationals looking to invest in real estate, whether it’s for personal use, rental income, or as a long-term investment. In recent years, the Turkish government has taken steps to facilitate property ownership for foreigners. One key aspect of this process is title deed sales, also known as “tapu” in Turkish. If you are a foreign national considering buying property in Turkey, it’s important to understand the process of title deed sales and the documents required. In this article, we will explore the ins and outs of title deed sales for foreign nationals in Turkey and how it is done.
Which Documents are Required for Sales to Foreigners?
Purchasing property in Turkey as a foreign national involves several steps, and there are specific documents that are required for the sales process. Here are the key documents you need to be aware of:
- Passport and Tax Identification Number (TIN): As a foreign national, you will need to provide a valid passport and obtain a Tax Identification Number (TIN) from the local tax office in Turkey. The TIN is a unique number used for tax-related transactions, and it’s mandatory for property ownership in Turkey.
- Title Deed Information Form: This form is obtained from the relevant Land Registry Office in Turkey and includes details about the property you are purchasing, such as its location, size, and value. You will need to complete this form accurately and sign it.
- Sales Agreement or Contract: This is the legal document that outlines the terms and conditions of the property purchase. It should be prepared by a licensed Turkish lawyer and signed by both parties (buyer and seller) in the presence of a notary public.
- Military Check (for certain properties): In Turkey, there are certain areas designated as military zones and properties located in these areas require a military check. This is to ensure that the property is not located in a restricted or prohibited zone. The military check process is usually initiated by the Land Registry Office, and the result will be included in the Title Deed Information Form.
- Appraisal Report: Some Turkish banks may require an appraisal report to determine the market value of the property for mortgage purposes. This report is typically prepared by a certified appraiser and includes information on the property’s value, location, and condition.
- Proof of Funds: You may be required to provide evidence of your financial capacity to purchase the property, such as bank statements or other relevant financial documents.
- Power of Attorney (if applicable): If you are unable to be physically present during the title deed sales process, you can appoint a trusted person to act as your representative through a power of attorney. This document should be prepared by a Turkish lawyer and notarized.
It’s important to note that the same documents and requirements may vary depending on the property’s location, the buyer’s nationality, and the specific regulations in place at the time of the purchase. Working with a reputable and experienced Turkish lawyer or real estate agent can help ensure that you have all the necessary documents and that the title deed sales process is completed smoothly.
Once you have gathered all the required documents, you will need to submit them to the relevant Land Registry Office in Turkey. The Land Registry Office will review the documents and conduct necessary checks, such as the military check (if applicable), before transferring the property ownership to your name. Once the title deed transfer is completed, you will receive a Title Deed Certificate (tapu) as proof of your ownership.
It’s worth noting that property purchases in Turkey are subject to certain fees and taxes, such as the title deed transfer fee, value-added tax (VAT), and stamp duty. These costs may vary depending on the location and value of the property, and it’s important to budget for them accordingly.
We hope this article has provided you with valuable insights into the title deed sales process for foreign nationals in Turkey. If you have any further questions or need assistance with buying property in Turkey, feel free to contact us.