Rights overlooked by the foreign investor in Turkey

The growing interest of Arab and foreign investors in the real estate sector in Turkey is a long-standing phenomenon due to the economic policy that aimed to develop local investments on the one hand and support the rights of the foreign investor in Turkey on the other hand, and it is preferable to see it before going into the implementation of any of the steps of real estate ownership, so we dedicated this article to talk about it in detail...We wish you a pleasant reading:

See Foreign Investor Rights in Turkey:

Often foreign investors overlook some laws related to their rights, so we must mention some of these rights:

First:  Real estate residence permit:

A person who has purchased a real estate property for the purpose of housing on a  renewable real estate residence permit is available to  him,  his wife and children , who are also under the age of 18.  Obtaining this real estate residence permit in Turkey after purchasing a property means benefiting from all the rights  enjoyed by Turkish citizens. Obtaining it has become the ambition of every foreigner, especially after the procedure imposed by the Turkish government to renew the tourist  residence permit in Turkey, which forced most foreigners to buy real estate for the purpose of  obtaining real estate residence permit as an alternative, easy and legal solution.

Second: Compensation for any defect or default:

One of the most important rights issued by the Turkish government to the foreign investor stipulated that  if there is a defect, slip  or default in the property during the first five years of ownership, the person responsible for repairing it or compensating the buyer for any damage caused  through its default during completion and not for the buyer's use of the property is the construction or contracting company.

In the event that the source of the defect is construction due to fraud or deliberate concealment  by the construction company, it is certainly obliged to compensate the buyer for the property even after 5 years.   Moreover, the buyer has the right to file a  lawsuit against the completion company.

Third:  Turkish citizenship:

 Obtaining Turkish citizenship once you buy a property worth 400 thousand US dollars or more  is one of the most important advantages  of real estate buyers in Turkey.

One of the most important facilitating conditions for obtaining Turkish citizenship is that the foreigner  can buy one real estate equal to the value required for naturalization or a group of real estate equal to 400 thousand US  dollars in one or several Turkish states, as the procedures for  obtaining Turkish citizenship do not take  long, as it does not exceed 3 months, which makes citizenship   through real estate ownership including exceptional facilities in the procedures.

Moreover , it benefits those who aspire to obtain Turkish citizenship through owning a real estate is the real estate appraisal through which they can know the real price of the real estate, as the Turkish law set a condition, which is an obligation for every person wishing to naturalize  through a real estate to conduct  a real estate appraisal by experts  accredited by the Turkish state, which makes you safe from fraud cases.

Fourth: Exemption from Visa:

Because the foreign investor owns a property in Turkey, it is not  necessary to obtain a visa every time  he enters or promoters from Turkey due to the benefit he receives from his real estate residence permit,  which he can renew and not cancel as long as the property is legally in the name of its owner.

Fifth:  Freedom of movement:

A  foreigner who owns a property in Turkey can move  freely at its internal and external airports, in addition to any means of transport he prefers and at any point he wants to reach.

Sixth: Real estate inheritance:

One of the most important advantages offered by the Turkish government is the creation of inheritance, unlike many countries that can confiscate the property after the death of its foreign owner, where ownership of the property is transferred to the legitimate heirs. The heirs can also resort to the real estate judiciary in order to conduct the real estate transfer transaction. Moreover, all real estate ownership privileges are transferred to the heirs in their capacity as the new owner of the property.

What a foreign investor should do in Turkey:

Like Foreign investors  have rights which they must be entitled in full, They have things to do  as well  ,We will mention the most important of these rights in this paragraph:

First - The place where the property is located:

Foreigners are prohibited from owning a property or a group of real estate in the prohibited places in Turkey, foremost among which are the military and security areas, which contain important historical monuments.

Second- The area of the property:

The foreign investor shall not be entitled to exceed the area of his property in a specific city, town or neighborhood ten percent of its total area, in which case the real estate registration directorates shall order the granting of licenses to own the property to foreigners.

30 hectares is the maximum area of real estate that a foreign investor is allowed to own in Turkey.

Third - Purchase of land registered with the Turkish state:

Turkish law allows foreigners to purchase land registered in the Turkish government as suitable for housing in order to build an architectural project on it, provided that its project is submitted to the Ministry according to the nature of the property and the purpose of its construction within a maximum of two years.

Fourth- Manipulation and fraud

When any attempt to erect or purchase a property illegally in violation of the Turkish regulations is noticed, the procedures and transactions of real estate ownership shall cease fifth- The right of intervention by the Turkish State

The Turkish courts are the only authority authorized to resolve the differences in the sale of the property between the owner and the buyer.

Sixth- Preparing all real estate ownership procedures:

To initiate procedures for the purchase of real estate in Turkey by requiring the submission of a set of documents, including:

-  Extracting the real estate appraisal document:

There is no sale or purchase of any real estate, whatever its type in Turkey, without the existence of this document. It is of great importance due to the valuable information it contains, such as the location of the property, its area, specifications, etc., and in the context of talking about it, we must mention that it is easy to extract and you have it within a few days.

-  Bringing the passport:

The foreign investor wishing to buy a property in Turkey must bring a copy of his passport, provided that it is valid for a minimum period of six months, and it must be translated into Turkish and also certified by the notary.

Bring some important documents:

The most important of which is the health insurance policy and earthquake insurance.

In conclusion, we hope that we have explained to you some of the foreign ownership rights of Turkey's real estate and the things that must be implemented, and the truth of the Turkish government's statement greatly supports foreign investors and strives to preserve all their rights.

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