Land Registry Law for the acquisition of land by foreigners
The law was signed on 03.05.2012 and on 19.05.2012 published in the Official Gazette.
The principle of reciprocity has been canceled
Paragraphs 35 and 36 of the 6302 title deed (tapu) law were changed on 5.3.2012.
The almost 100 years since current rules on reciprocity has been repealed.
The list of countries that may acquire property in Turkey will be released by the Cabinet. Countries which are not on this list cannot buy properties in Turkey.
Foreigners are allowed to buy in Turkey only max. 10% of the total area of the regions
Up to 30 hectare are available to purchase
Each foreign person has the permission to buy max. 30 hectare
The Cabinet has the privilege to maximize this limit to max 60 hectares per person.
Companies which were founded abroad can purchase properties in Turkey by certain conditions which provide by the Cabinet.
Foreign banks, companies and private persons are authorized to register mortgage in to the Turkish Land Registry and to delete them.
Projects on undeveloped land
Foreign private persons and companies which are founded abroad must develop within 2 years from the date of the acquisition of undeveloped land, a project for the land and submit this project to the relevant ministry and obtain approval.
Whether the project has been realized is controlled by the Ministry.
The project will be sent by the Ministry to the appropriate Land Registry Office and registered there.
Foreign companies founded in Turkey
Foreign companies which are established in Turkey and have 50% or more stake in the company in Turkey can buy properties. Foreign companies have for the acquisition of real estate to apply for the approval of the military department and the district administrator, which confirms that the property is not in a forbidden military zone.
NEW! NEW! NEW! Tapu title deed registration in only 3 - 4 days
Since 14 October 2013 there is a very positive new rule in buying properties in Turkey.
The title deed registration (Tapu) now takes just 3 - 4 days, if already a property has already been sold to foreigners on the same parcel and an official approval of the military authorities in Izmir is present.
Until now the documents for the purchased property and the details of the purchaser had to be sent to the military authorities in Izmir to obtain an official approval from there, which confirmed that the property is not located in the military district. This processing previously took 3-4 months.
This rule is over now! Since the 14.10.2013 all Europeans can get the title deed of the purchased property in only 3 - 4 days, as well as locals, if any property has already been sold to Europeans on the same parcel and the approval from Izmir is already valid.
Permissions which are applied after 05/05/2011 are valid for this new rule.
With this new rule buying property in Turkey is now absolutely safety and the processing is done smoothly in the shortest period of time, just as if a local buys from a local.