Titles
What is the process of buying an apartment in Turkey ?
The general process for buying an apartment in Turkey as a foreigner involves finding a property, obtaining a tax number, opening a bank account, signing a sales contract, paying a deposit, applying for a title deed transfer, and paying the purchase price. It is recommended to hire a local lawyer or real estate agent to guide you through the process and ensure that all legal requirements are met.
How to get tax number in Turkey ?
Foreigners can obtain a tax number in Turkey by visiting a local tax office (vergi dairesi) in person with their passport or other valid identification document. The tax office will issue a tax number (vergi numarası) on the spot, free of charge. Some tax offices may require an interpreter if the applicant does not speak Turkish. The tax number is required for various transactions in Turkey, including buying property, opening a bank account, and obtaining a work permit.
How to open a bank account in Turkey ?
To open a bank account in Turkey as a foreigner, you typically need to provide the following documents to a bank:
- A valid passport or residence permit.
- A tax identification number (Vergi Kimlik Numarası).
- Proof of address, such as a utility bill or rental agreement.
You may also need to provide additional documents depending on the bank’s requirements. Once you have provided the necessary documents, the bank will open an account for you and issue a debit card. It is recommended to compare fees, interest rates, and services offered by different banks before choosing one.
How to apply for title deed transfer in Turkey ?
To apply for a title deed transfer (tapu devri) in Turkey, you will need to follow these steps:
- Obtain a tax number (vergi numarası) from the local tax office.
- Sign a sales contract with the seller and pay a deposit.
- Apply for military clearance (askerlik şubesi) if the property is located in a restricted area.
- Obtain a property valuation report (emlak değerleme raporu) from a licensed appraiser.
- Go to the Land Registry Office (Tapu ve Kadastro Müdürlüğü) with the seller to complete the transfer process.
- Pay the purchase price and associated fees, such as the title deed transfer fee and the real estate purchase tax.
- Receive the title deed (tapu senedi) in your name.
It is recommended to hire a local lawyer or real estate agent to assist with the title deed transfer process and ensure that all legal requirements are met.
How to hire a lawyer in Turkey for real estate ?
To hire a lawyer in Turkey for real estate transactions, you can follow these steps:
- Ask for recommendations from friends, colleagues, or other professionals, such as real estate agents or accountants.
- Search for lawyers who specialize in real estate law in Turkey through online directories or bar associations, such as the Istanbul Bar Association or the Ankara Bar Association.
- Contact several lawyers and schedule consultations to discuss your legal needs, their experience, and their fees.
- Choose a lawyer who has the necessary expertise, is responsive to your communication, and provides transparent and reasonable fees.
- Sign a written agreement with the lawyer that outlines the scope of work, fees, and other terms and conditions.
- It is important to work with a reputable and qualified lawyer who is fluent in English or your native language, as well as Turkish, to ensure effective communication and a smooth legal process.
Things to know before you buy an apartment in Turkey
Here are some important things to know before you buy an apartment in Turkey:
Legal requirements: As a foreigner, you may need to obtain a tax number, open a bank account, and obtain a residence permit to buy property in Turkey. It is also important to ensure that the property is free of legal disputes or claims, and that all necessary permits and documents are in order.
Location: The location of the apartment is an important factor in terms of accessibility, transportation, amenities, and potential resale value. It is recommended to research the neighborhood and visit the property in person before making a purchase.
Financing: If you plan to finance the purchase with a mortgage, it is important to compare interest rates, fees, and repayment terms offered by different banks. You may also need to provide a down payment of at least 30% of the purchase price.
Taxes and fees: In addition to the purchase price, you may need to pay various taxes and fees, such as the title deed transfer fee, the real estate purchase tax, and the appraisal fee. These costs can add up to around 5-7% of the purchase price.
Property management: If you plan to use the apartment as a rental property, it is important to consider the costs and responsibilities of property management, such as maintenance, repairs, and tenant relations.
Legal assistance: It is recommended to hire a local lawyer or real estate agent who is familiar with Turkish laws and regulations to guide you through the purchase process and protect your legal rights.
