Real estate investment laws in Turkey
Real estate investment is considered one of the most prominent attractions of the Turkish economy, and an essential and indispensable pillar of this emerging economy, which is growing stronger and more established among global economies. With the growing Turkey real estate investment in Istanbul and the complexity of its dealings and provisions and all related matters, it was necessary to control this matter with a comprehensive and complete package of Turkish property law that make this investment as organized and safe as possible. Since many foreigners aspire to invest in turkey property, therefore, every foreign investor is supposed to be familiar with the real estate investment laws in Turkey.
In general, Law No. 35 of the Land Registration Law No. 2644, as amended by Law No. 6302, has been implemented and entered into force on 5/18/2012 and is the legal and basic basis for Istanbul real estate investment in Turkey, which allows foreigners to own and invest in the real estate sector in Turkey. This law allows a foreigner to own a maximum of 30 hectares, just as a foreigner does not have the right to exceed his total property 10% of the area of the region itself, and the foreigner is entitled to invest in all parts of Turkish territory except for the military and security areas.
Also, the real estate investment law in Turkey does not work with the principle of reciprocity, allowed Turkish property law for foreigners from 183 countries to invest freely in Turkey, which made real estate investors increase their investments in them, and the real estate investment law in Turkey allowed foreigners to invest real estate in Turkey even if it was his country The Turkish citizen is not allowed to invest in the real estate sector in that country, and this is a feature that made investing easier after the principle of non-reciprocity is included in the law, and here is a set of the most important laws on this subject, which guarantee the future of Istanbul property investment in Turkey for all who want.
Real estate residence
The Turkish government grants foreigners who invest in the real estate sector the right to real estate residence, whatever the price of the property, thereby guaranteeing several rights to the foreign investor, including:
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The holder of the real estate residence has the right to enter the Turkish lands without the need for an entry visa, and he has the right to leave the country at the time he finds it appropriate without fear of revoking the residence as long as the property is registered in his name.
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The foreign investor has the right to travel through the airports of the internal Turkish Republic and through other means of transportation without consulting the authorities and without obtaining a travel permit.
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Real estate residency is granted to the husband or wife and all their children under the age of 18.
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The investor can renew his residence in Turkey as long as the property is registered in his name.
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Real estate investment laws in Turkey ensure that investors enjoy full rights as a foreigner legally residing in Turkish lands.
Turkish citizenship by owning a property
The Real Estate Investment Law in Turkey grants citizenship according to simple conditions, as every foreigner whose real estate value has reached the name of $ 250,000 as a minimum has the right to obtain Turkish citizenship, regardless of the type of property he owns, and it does not matter also legally if it is Real estate in more than one state, as not all properties are required in the same state. Lowering the investor’s minimum limit from one million dollars to 250,000 dollars resulted in an increase in real estate investment during the past two years.
The right to inherit real estate for foreigners
Real estate investment laws in Turkey have provided the foreigner’s right to inherit real estate, as the legal heirs have the right to transfer ownership of real estate duly registered in the Land Registry after the death of its primary owner, and after the transfer of ownership the heirs have the right to obtain the privileges included in them for the real estate investment law in Turkey, and the issue of inheritance comes For foreigners in the most important priorities of the investor to check on the fate of his property in the event of an emergency.
Real estate is distributed in Turkey according to the Turkish real estate inheritance law and not according to the law of the country of the foreign owner of the property, but in the event that one of the legal heirs objects to the distribution of the inheritance within the Turkish law, he must submit an objection and also submit a request to distribute the inheritance according to the law of his country of origin and not the Turkish inheritance law And, the inheritance inventory distribution law is adopted after ensuring that there is no official will that is formally certified by one of the Notre offices in Turkey.
Land Registry
The Turkish government has made important amendments to the real estate law related to the Turkish real estate Registry (Tabu) regarding the conditions that must be met by foreign individuals wishing to own real estate in Turkey, as it lifted some restrictions imposed on foreign ownership, and made some facilities in the conditions that must be met by foreign individuals wishing to own Real estate in Turkey, with the continued restrictions imposed on the citizens of some countries neighboring Turkey, and by this law Turkey has given the right to own the property to the citizens of 183 countries without subject to the conditions of reciprocity and the most important reason in issuing this law that opened the way either Foreign investors to own real estate in Turkey, is to increase investors’ willingness to invest in the real estate sector.
The most important thing in this law is to raise the conditions for the reciprocal treatment to which foreign investors were subject, and thus the individuals of foreign countries are able to buy an apartment in Turkey and reside, even if the Turks are not allowed to own the property in those countries to which these individuals belong, but the principle of treatment Likewise, it is the rights and privileges granted by one of the countries to the citizens of the other country, and in exchange for the same privileges and rights are granted to the citizens of those countries. This law imposed some restrictions on the areas that foreigners can own, and according to the law the total property of foreign individuals must not exceed 10% of the area of the region, and the total area of what one individual can possess throughout Turkey does not exceed 30 hectares or 300 Acres, and I am given the right to raise this area to 60 hectares of the Council of Ministers only.
If you want to know how to buy a property in Turkey, or if you need someone to help you with the steps of buying a property in Turkey, or even if you are looking for real estate for sale in Istanbul, we are ready to help you determine your most suitable choice, and to ensure that you get the best available options What makes you profitable and saves the value of your future real estate that you wish for housing or investment in Turkey, take advantage of our guidance and advice completely free of charge, which our experts will offer you with pleasure and welcome to contact us .
