Buying property in Turkey has become quite simple, the purchase is often much easier than in other countries.
Foreign citizens can purchase real estate or land in Turkey in their own name, and even on mortgage. When buying a property in Turkey, a lawyer is not required, but for your own peace of mind you can use the services of a lawyer.
The procedure for the purchase of real estate in Turkey. Step-by-step guide
- When the purchase decision is taken, you must sign the contract of real estate purchase-sale.
- The buyer makes an advance payment (750-1000 euros).
- The notary office issues the power of attorney, which gives the authority to the representative of our company to take care of all legal procedures (power of Attorney is not required, but we recommend that all our clients do it. If there is no power of attorney, the buyer will have to deal with legal issues, and for this course you need to be in Turkey constantly and know the language, so the power of attorney is issued by all of our customers).
- At the office of the tax service, the buyer receives an individual tax number. You only need a passport.
- The buyer opens an account in the Bank of Turkey on his name. Opening an account is optional but recommended. First, it is necessary for registration of residence permits, and secondly, it makes it possible to pay bills and taxes while in Russia (you need to connect the service “Internet Bank”). To open a Bank account, you need a passport, an individual tax number, some banks also require an official document confirming the address of the client’s residence (in this case, it does not matter in Turkey or Russia).
- Our company sends the documents (copy of the contract, legal papers, copy of the buyer’s passport) to the Cadastral Office and the Military Department of Turkey. It needs for a formal procedure – checking that the purchased land is not owned or used by the state. If permission from the Military Department for other apartments or villas in a residential complex was received previously, its re-receipt is not required.
- The Cadastral Office issues the title (TAPU) to the buyer in 10-24 weeks after the documents are submitted. From that moment, the property (including land) is fully owned by the buyer. The transfer of Ownership takes only a few days in the case that the authorization of the Military Department is not required.
- If the property (apartment, villa) is a new building, it is necessary to design the so-called Iskan. Iskan is a document that is obtained in Meria. Iskan is a technical passport of real estate, a residence permit in an independent unit (apartment, villa). In this document all technical information on the building is specified, it also confirms that the object is handed over, and the residence permit from Meria is received. Without Iskan it is impossible to issue a subscription for electricity, water and home phone. Letsgototurkey helps with getting Iskan for the Customer.
- After receiving TAPU and Iskan, our company helps with registration of water and electricity subscriptions.
- By law, property owners are required to take out earthquake insurance (DASK). Also, if desired, the client can fully insure their property. Our company helps with insurance for customers.
Additional costs when buying property in Turkey.
- Registration of power of attorney at the notary – about 200 euros.
- Purchase tax (or TAPU tax) is 3%. One-time fee.
- About 550 euros for registration of TAPU to the name of the client. One-time fee.
- About 1000 euros (the amount may be higher – determined by the municipality of the area where the property is located) for registration ISC, that is, a technical certificate of real estate (only for new buildings). One-time fee.
- About 300 euros for the design of season tickets for the water.
- About 250-300 euros for electricity passes.
- Property tax is 0.1 % Payable annually.
- Compulsory earthquake insurance (DASK) – 0.15 Euro per 1 m2. Paid annually.
- Property insurance (optional) – approximately 200 euros per year (depending on the estimated cost of housing).
- Utilities: water, electricity. Water and electricity are billed according to the meter. Gas, as a rule, must be bought by balloons.
It is worth noting that taxes are calculated on the basis of the estimated value specified in the TAPU.
The procedure for registration of residence permit
The period of visa-free stay in Turkey for Russian citizens is 30 days. Since May 2013, this period has been extended to 60 days. The total number of days of stay in Turkey should not exceed 90 in the period of 180 days.
If the owner wants to live in Turkey for a long time without having to travel or permanently, on the basis of the right of ownership of the foreign citizen has the right to issue a residence permit.