• About
  • Contact
Şengün Law
  • Deutsch
  • Français
  • Türkçe
  • Español
  • Italiano
  • Investment Advisory In Türkiye
    • Company Formation
    • Foreign Shareholder
    • Concessions – Incentives
    • Tax Liabilities
    • Insurance
    • Real Estate Purchases
    • Risk, Compliance and Regulation
    • International Logistics
    • ESG
    • Competition
    • Trade Union Consulting
    • Region Selection
    • Digital Transformation
    • Information Technology Consultancy
  • Articles
    • From Nedim Korhan Şengün
    • Entrepreneurship Center
    • Global Green Center
    • Center Of Risk Management And Regulatory Compliance
    • Center of Arbitration, Conciliation, and Mediation
    • Capital Markets and Financial Transactions Center
    • Insurance Center
    • Intellectual Asset Management Center
    • Personal Data Center
    • Competition Law and Practice Center
    • Investment Advisory Center
  • Turkish Citizenship and Immigration
    • Acquisition of Turkish Citizenship
    • Work Permit
    • Residence Permit
    • Family Law for Foreigners
    • Criminal Law for Foreigners
    • Intellectual Property for Foreigners
    • Administrative Practices for Foreigners
  • International Disputes
    • Local and International Dispute Resolution
    • Arbitration/ Recognition /Adjudication
  • Announcements
No Result
View All Result
  • Investment Advisory In Türkiye
    • Company Formation
    • Foreign Shareholder
    • Concessions – Incentives
    • Tax Liabilities
    • Insurance
    • Real Estate Purchases
    • Risk, Compliance and Regulation
    • International Logistics
    • ESG
    • Competition
    • Trade Union Consulting
    • Region Selection
    • Digital Transformation
    • Information Technology Consultancy
  • Articles
    • From Nedim Korhan Şengün
    • Entrepreneurship Center
    • Global Green Center
    • Center Of Risk Management And Regulatory Compliance
    • Center of Arbitration, Conciliation, and Mediation
    • Capital Markets and Financial Transactions Center
    • Insurance Center
    • Intellectual Asset Management Center
    • Personal Data Center
    • Competition Law and Practice Center
    • Investment Advisory Center
  • Turkish Citizenship and Immigration
    • Acquisition of Turkish Citizenship
    • Work Permit
    • Residence Permit
    • Family Law for Foreigners
    • Criminal Law for Foreigners
    • Intellectual Property for Foreigners
    • Administrative Practices for Foreigners
  • International Disputes
    • Local and International Dispute Resolution
    • Arbitration/ Recognition /Adjudication
  • Announcements
No Result
View All Result
Şengün Law
No Result
View All Result
Home Articles Investment Advisory Center

Foreign Real Persons’ Real Estate Acquisition in Türkiye

13 December 2024
in Investment Advisory Center
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Linkedin

Article 35 of Land Registry Law no. 2644 allows citizens of countries designated by the relevant presidential decree to acquire real estate in Türkiye. To date, citizens of 183 countries may exercise this right “without the condition of reciprocity” and thus own real estate in Türkiye under certain conditions.

There are some statutory limitations on foreign real persons’ acquisition of real estate. Accordingly, they may own any type of real estate (residence, workplace, land, field) in Türkiye, provided that they comply with the relevant legal restrictions.

Hence, foreign real persons who purchase undeveloped real estate, such as lands or fields, are required to submit their projects on the real estate for approval by the relevant ministry within two years. If an application is not submitted to the ministry within two years, or if the project is not completed within the specified timeframe, the relevant liquidation provisions will be enforced for the real estate in question.

  • Real estate ownership may be transferred with an official deed and registration signed at a land registry office.
  • In Türkiye, the acquisition of real estate titles needs to be approved and registered at land registry offices.
  • Real estate precontracts issued by notaries or made in writing with real persons do not authorize the transfer of real estate on their own. These documents solely constitute a commitment to transfer ownership and do not, in themselves, effectuate the transfer of real estate ownership.
  • Liabilities such as mortgages, liens, or other encumbrances that could hinder the sale of real estate should be checked before initiating transactions at the relevant land registry office.
  • Foreign citizens are not required to have a residence permit as a prerequisite for acquiring real estate in Türkiye. In fact, foreigners purchasing real estate in the country are granted renewable short-term residence permits as per Law no. 6458 on Foreigners and International Protection.
  • In this regard, natural or legal persons planning to acquire real estate in Türkiye must apply to the General Directorate of Land Registry and Cadastre, jointly with the property owner.

Limitations:

Foreign real persons may acquire real estate and limited rights of an independent and permanent nature, up to a maximum of 30 hectares nationwide, which may be increased by a presidential decree, to double that limit at most.

Law no. 2565 on Restricted Military Areas and Security Zones prohibits foreign ownership of real estate in designated military areas.

Foreign real persons may acquire real estate and limited real rights up to 10% of the area of a district designated for private property.

However, they are prohibited from acquiring real estate and limited real rights in areas specified by the Presidential Decree for reasons of public interest and national security.

Exceptions:

i) Blue Card Holders (individuals who were born Turkish citizens but have renounced their Turkish citizenship)

Pursuant to article 28 of the Turkish Citizenship Law no. 5901, the real right claims of those permitted to renounce their Turkish citizenship, including claims relevant to real estate acquisition, transfer, inheritance, and ownership, and of their dependent children will be processed and completed in the same manner as those of Turkish citizens, without any legal limitations for foreigners.

ii) Citizens of the Turkish Republic of Northern Cyprus

The “Agreement between the Government of the Republic of Türkiye and the Government of the Turkish Republic of Northern Cyprus on Granting Additional Rights to the Citizens of the Two Countries” grants citizens of the Turkish Republic of Northern Cyprus the same rights as those of the Republic of Türkiye regarding the acquisition of real estate in Türkiye. Therefore, they are exempt from the statutory limitations on foreign real persons’ real estate acquisition.

SOURCES:

  • Chamber of Survey and Cadastre Engineers of the Union of Chambers of Turkish Engineers and Architects (TMMOB), 17th Turkish Scientific and Technical Congress on Surveying, April 25-27, 2019, Ankara, “Türkiye’de Yabancı Gerçek Kişilerin Taşınmaz Edinimi”
  • Ministry of Foreign Affairs of Republic of Türkiye, “Yabancılar İçin Türkiye’de Taşınmaz Satın Alma İşlemleri Rehberi”
  • Land Registry Law no. 2644
  • Law no. 6302 Amending the Land Registry Law and Cadastral Law
ShareTweetShare
Previous Post

Analysis of Asset Management Companies’ Collection Processes as per Personal Data Protection Law

Next Post

Legal Framework of International Trade and the Necessity for Unification of International Trade Law

Related Posts

A Historical Overview of Investment Advisory Regulations From Global and Local Perspectives

Investment advisory has evolved in parallel with the growth of financial markets and economic shifts. In this process, investment advisors...

Investment Practices Of The Future

The financial sector is constantly changing in line with technological advances, creating new opportunities and challenges for investors and advisors...

Next Post
Legal Framework of International Trade and the Necessity for Unification of International Trade Law

Legal Framework of International Trade and the Necessity for Unification of International Trade Law

Latest Posts

Şirketlerin Siber Güvenlik Açıkları ve Yeni Nesil Dolandırıcılıklara Karşı Hukuki Yükümlülükleri

Companies’ Cybersecurity Vulnerabilities and Legal Obligations Against Next-Generation Fraud

Dijital Bankacılık ve Kişisel Verilerin Güvenliği

Digital Banking and Personal Data Security

The Rights of Consumers Against Contractors

The Rights of Consumers Against Contractors

Board of Directors’ Roles and Responsibilities in ESG

Dijitalleşmenin İş Dünyasında İş ve Sosyal Güvenlik Hukuku Bakımından Değerlendirilmesi

Digital Transformation in the Context of Labor and Social Security Law

Rekabet Kurulunun Yerinde İnceleme Denetimlerinde Hukuka Aykırı Delillerin Değerlendirilmesi

Analysis of Illegally Obtained Evidence from the Competition Board’s On-Site Inspections

  • About
  • Contact

© 2024 Şengün Partners

No Result
View All Result
  • Investment Advisory In Türkiye
    • Company Formation
    • Foreign Shareholder
    • Concessions – Incentives
    • Tax Liabilities
    • Insurance
    • Real Estate Purchases
    • Risk, Compliance and Regulation
    • International Logistics
    • ESG
    • Competition
    • Trade Union Consulting
    • Region Selection
    • Digital Transformation
    • Information Technology Consultancy
  • Articles
  • Turkish Citizenship and Immigration
    • Acquisition of Turkish Citizenship
    • Work Permit
    • Residence Permit
    • Family Law for Foreigners
    • Criminal Law for Foreigners
    • Intellectual Property for Foreigners
    • Administrative Practices for Foreigners
  • International Disputes
    • Local and International Dispute Resolution
    • Arbitration/ Recognition /Adjudication
  • Announcements
  • About
  • Contact
  • English
    • Deutsch
    • Français
    • Türkçe
    • Español
    • Italiano

© 2024 Şengün Partners