Navigating property acquisition in Turkey as a foreigner may seem complex, but many of the common concerns are straightforward once clarified. Here are the top five questions foreign buyers often ask when purchasing property in Turkey.
1) Do Foreign Buyers Need a Translated Copy of Their Passport?
Foreign buyers sometimes worry about the need for passport translation. Turkish regulations require a translation only if the passport or identity card uses a language other than the Roman alphabet. However, if the document uses the Roman alphabet, the Directorate of Land Registry generally does not require a translation.
2) Can Foreigners Inherit Property in Turkey?
Yes, foreigners can inherit property in Turkey. However, if they inherit property in a restricted region, they must sell or liquidate it. Moreover, inheritors from countries not listed under Article 35 must also sell or liquidate the property after the transfer.
3) What Obligations Do Foreigners Have When Buying Undeveloped Land?
Foreigners who buy undeveloped land need to develop a project on it within two years of acquisition. They must also submit the project to the relevant ministry for approval based on its type. The ministry may extend the timeframe for project completion, with reviews currently underway to allow for more time.
4) Can Blue Card Holders Use it as an Identity Certificate?
Blue Card holders can use this card as a valid ID for property transactions if issued after April 12, 2013. Those with older Blue or Pink Cards, however, need to provide either a passport or national ID alongside the card for verification in Turkey’s central registry system.
5) How Do Authorities Appraise Property for Citizenship?
To qualify for citizenship, properties must meet a minimum appraisal value of USD 250,000, calculated according to the Central Bank of Turkey’s exchange rate on the day before deposit. Both the appraisal report and official documentation must show a value no less than that on the payment receipts.
