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Turkish Property Purchase

by Brianna - April 27th, 2015.
Filed under: News. Tagged as: , .

In the official newspaper of the Turkish government 'Resmi Gazete' was published by the new law number 5444, allows foreign persons to acquire real estate in the country. Greenberg Traurig may also support this cause. The law adopted by the Turkish Parliament on December 29, 2005. By this law, in Turkey, foreign natural persons may acquire ownership of property or get someone else to use immovable property on the basis of limited property rights in accordance with a number of conditions. The same principle from 29/05/1940 to 05/29/1940 vzaimonosti respected but not enforced, or shall we say not all countries, however, it is Russia that falls under the "principle of reciprocity." According to this principle to the citizens of another country Turkey, when making their real estate transactions, subject to the laws, similar to Turkish citizens buying property in the country N. In practice, this means the following – as in the Russia adopted an amendment to certain laws, the same sort of amendment has been adopted in Turkey. That's why right now to purchase property in Turkey the Russians must have a valid residence permit for at least 6 months.

In general, the procedure of purchasing property in Turkey is simple, but rather prolonged the time – because each transaction prior to its final signature is checked in Ankara. First of all – you must select object. After that, sign a preliminary agreement with the owner and the agency for services. Then you can safely recover issue residence permit, after which the documents are submitted for consideration in Ankara. If you work with a serious agency, for its consideration, it is obliged to act on your side and to notify you of any potential problems in time to apply not only to the Land Registry Office, but also on residence permit, to accompany you in obtaining tax number of foreigners and even the bank where you open an account. And the tax number and bank account needed when buying property in Turkey, because of my account in a Turkish bank account you will be lead to the seller. So, to buy property in Turkey you will need:-to come and choose the most property-sign the sale contract, to sign an agency contract for services, to issue residence permit, open a bank account, pay taxes, get the keys from the apartment. Good luck to you buy!

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