To make the right real estate investment ;
- The most common disfunction in the construction industry is that some real estate firms use separate pricing for domestic and foreign buyers !!!!
- It must be checked in the Directorates of Land Registry whether there are any limitations such as pledge or seizure etc., on the real estate or there are any situations hindering the sale of the real estate.
- It must be checked whether the real estate has the necessary building permits and occupancy (residential) permits by examining the document in the affiliated Municipality.
- In case of any dispute between the parties relating to the sale of the real estate, it is necessary to bring a suit in the courts of the Republic of Turkey by referring the situation to the judicial authorities.
- The price of the real estate purchased must be paid after the official transactions in the Directorate of Land Registry or the Notary Public.
The legal framework for the acquisition of real estate by foreigners in Turkey has changed with the amendments made to the the Article 35 of the Land Registry Law No. 2644,amended by Law No. 6302 which entered info force on May 18 th, 2012
• Cancellation of Reciprocity Principle
• Max. size of immovable property that can be acquired: 30 hectares
• Foreign persons and legal commercial entities may purchase land and space, whether they are in the planned or unplanned area and classified as agricultural land or not
With its unique social, cultural, historical and architectural characteristics and located in a region that boasts great investment potential and a lively economy, İstanbul’s star seems to shine more and and more with each passing day. In fact, the combination of its deep cultural legacies and its unparalleled opportunities make İstanbul one of the world’s most vital and important centers today. The human legacy and wealth in İstanbul is powerful whether one talks about the ideas created in the city or the city’s economic energy or its cultural and historical experience. Since 2010 six of the most important global indexes have regularly shown İstanbul to be one of the world’s most important cities.
There are 2 international airports in İstanbul , one on the Europeanside, and one on the Asian side. There is also a third international airport under construction on the European side. İn addition , all the major cities in Turkey have airports.
To open a bank account in Turkey in your own name you would need to get a tax number from a local tax office and then submit it with a copy of your passport to the appropriate bank branch. Due to strict banking regulations in Turkey, no one else will be able to withdraw money or view details about your account unless they have Power of Attorney or are a joint account holder.