Legislation of the Republic of Turkey
The law on real estate acquisition by foreigners in Turkey.
The new law on foreigners buying property in Turkey. January 7, 2006 in the Turkish Official Gazette "(Resmi Gazete) published a new law number 5444 on real estate acquisition by foreigners in Turkey, which allows foreign persons to acquire real estate in the country.
The law on real estate acquisition by foreigners adopted by the Turkish Parliament on December 29, 2005, effective as of July 26, 2005. Thus, signed on the eve of his Turkish law came into force.
Under this law, in Turkey foreign physical persons can acquire ownership of property or get into someone else's use of real estate on the basis of limited property rights in accordance with the following conditions:
1. Restrictions on the area of real estate:
The total area of real estate owned by a foreign person on the ownership or received them in use on the basis of limited property rights, may not exceed 2.5 hectares (25 sq m) throughout Turkey.
However, the law stipulates that the Council of Ministers may raise this threshold to 30 hectares. In this regard, according to the adopted General Cadastral Office Turkey Circular № 2006-1 dated January 20, 2006, in preparation of documents in the land register a foreigner must sign a statement which certifies that the total area assigned to it of real estate across Turkey (including this one ) does not exceed 2.5 hectares, and agrees that, otherwise, he is obliged to release the excess space to be sold, and the resulting amount will be transferred to his account.
The new law imposed an additional constraint on the area: in each region (in Turkish "il") not more than five thousandths (0,5%) of the total area of this region may belong to foreign individuals. However, the Council of Ministers is authorized to establish this number separately for each area, but not more than 0,5% by law.
With regard to this limitation, exception is legitimate
inheritance.
2. Restrictions on the type of property:
An alien may be issued only real estate that is registered in the land register as a home or workplace, or intended to be used for this purpose in accordance with architectural plans for building or a local architectural plans.
Here, under the "workplace" means a complex of immovable property used for commercial activities, that is, it can be both office space and, for example, a hotel or a factory with all the surrounding buildings.
When you register you must provide documents relevant certificate from the mayor or governor of the location of the property.
