Acquisition of Real Estate in Turkey by Foreigners
To understand the process of acquisition of real estate in Turkey by foreigners must know the legal infrastructure.
Who is the “Foreigner”?
- Foreign natural persons
- Foreign legal persons
- Turkish companies with foreign capital
The legal ground for the purchase of property by foreigners is articles 35 and 36 of the Land Registry Law No 2644. The foreigners, who are determined by the President under the authorization granted in the Land Registry Law, may acquire real estates and limited rights in rem in our country subject to the legal limitations.
Foreign Natural Persons, who would like to Acquire Real Estate in Turkey;
- The foreigner should be a citizen of the country determined as eligible for the acquisition of real estate in Turkey by the President and should meet the criteria for acquisition.
- Natural persons of foreign origin may acquire any real estate in areas where private property is allowed (residence, workplace, land, field, etc.), provided that legal limitations are observed.
- If natural persons of foreign origin acquire unbuilt real estates (real estates with no built structures thereon, such as land and field), then a project is to be developed depending on the nature of the real estate and such project is to be submitted to the relevant Ministry for approval within two years. If the Ministry is not applied or the project is not completed within two years, then such real estate shall be subject to provisions on nationalization.
Foreign Legal Persons, who would like to Acquire Real Estate in Turkey;
- Incorporated trading companies established in foreign countries according to the laws of such countries may acquire real estates and limited rights in rem only if there are special provisions to such an effect in the applicable laws.
- It is impossible for any legal persons except the trading companies established in foreign countries according to the laws of such countries (incorporated or unincorporated foundations, associations, cooperatives, societies, groups, communities, etc.), on the other hand, to acquire real estates and to have rights in rem created to their favor in our country.
Turkish Companies with Foreign Capital, who would like to Acquire Real Estate in Turkey;
Turkish companies with foreign capital can purchase real estate to perform the tasks appointed in their main contract.