Real Estate Acquisition by Foreign Natural Persons

Foreign real persons who wish to acquire real estate in our country;

Must be among the citizens of the countries determined by the President who can acquire real estates and limited real rights in our country and meet the acquisition conditions.

Foreign real persons may acquire any kind of real estates (residence, workplace, land, field, etc.) in our country, provided that the legal restrictions are complied with.

Real persons of foreign nationality are obliged to submit for the approval of the relevant Ministry within two years the project to be developed in accordance with the nature of the real estate (such as land, field, etc.). In case of failure to apply to the Ministry within two years or if the project is not completed within the time period, the real estate in question will be subject to liquidation provisions.

Legal Restrictions

In our country, only citizens of countries designated by Presidential Decree can acquire real estate and limited real rights. However;

 The total amount of real estates that a foreign real person can acquire is maximum thirty hectares throughout the country.

The total area of real estates that may be acquired by real persons of foreign nationality may not exceed ten percent of the total area of the district subject to private property.

The indication regarding the real estates located in military prohibited and security zones is registered in the register of the real estate and information is provided by the land registry offices.

In 81 provinces, the registration of real estates within military prohibited and security zones in the land registries has been completed.

The real estate to be acquired must not be located in areas designated as military prohibited and security zones or in other areas prohibited for foreign real persons.

The real estate to be acquired must not be located in areas designated as military prohibited and security zones or in other areas prohibited for foreign real persons.

In case of acquisition of unstructured real estate by foreign real persons, a project must be developed within two years and this project must be submitted to the approval of the relevant ministry.

Real estates acquired in violation of the provisions of the Law, which are found by the relevant ministries and administrations to be used contrary to the purpose of acquisition, which are not applied to the relevant ministry in due time or the projects of which are not performed in due time, are subject to liquidation provisions.

Sale Transaction Template for Foreign Real Persons

01

An agreement is made for the real estate to be purchased.

02

The application of the real estate appraisal report was abolished in the acquisition of real estates by foreign real persons. In acquisitions for citizenship acquisition purposes, TTB application has been introduced. For detailed information about TTB, please click TTB

03

An application is made to the land registry office with the necessary documents, including the foreign currency purchase certificate via REM.

04

The documents are examined by the land registry office. If the documents are complete, the process is initiated. If there is any missing document, the relevant person is notified via SMS.

05

If the necessary conditions are met, the title deed fee and revolving fund fee required for the transaction is notified to the relevant person via SMS.

06

After the payment is made, the necessary notification is made to the land registry office through the system.

07

The transaction is completed and the official deed is issued and the relevant person is notified via SMS when s/he should come for signature.

08

The signatures are put and the title deed of the real estate is given to the foreign real person/his/her representative who is the owner of the real estate.

"TEMPLATE FOR SALES TRANSACTIONS OF FOREIGN REAL PERSONS"

Sale Transaction Template for Foreign Real Persons

01

An agreement is made for the real estate to be purchased. The value of the real estate must be at least $400,000.

02

An application is made to the land registry office with the necessary documents.

03

Necessary examinations are made by the officer.

04

If the documents are complete, the process is initiated. If there is any missing document, the relevant person is notified via SMS.

05

Fee and revolving fund fee details are notified via SMS.

06

After the payment is made, the necessary notification is made to the land registry office through the system.

07

The transaction is completed and the official deed is issued and the relevant person is notified via SMS when s/he should come for signature.

08

The signatures are put and the title deed of the real estate is given to the foreign real person/his/her representative who is the owner of the real estate.

"TEMPLATE FOR SALES TRANSACTIONS OF FOREIGN LEGAL PERSONS"