Turkey is very much in high demand amongst Pakistani tourists and has gained a hot position for Pakistani real estate investors.
The exciting history and culture and the magnificent natural beauty of this country have enamored many, including Pakistanis. Resultingly, Pakistanis who wish to move abroad for a better lifestyle, establish a business or any other reason are increasingly choosing Turkey as their second home.
Before 2012, citizens from more than 50 countries were forbidden from owning any type of property in the country because of the Reciprocity Law. Except for Syria, North Korea, South Cyprus, Armenia, and Cuba, all other countries are now free in their right to own any kind of real estate in Turkey, thanks to amendments set by the Turkish government in 2012.
How Do I Acquire Property in Pakistan in Turkey?
If you are dealing with a respectable and established real estate company that will explain each step of the way, buying property in Turkey is pretty straightforward. The language barrier can prove to be a challenge for the non-Turkish-speaking foreigner. In this respect, foreign clients can seize the opportunity and work with us to get expert advice for complete understanding and insight into the intricacies of the process.
We have the experience of serving a vast clientele featuring various nationalities. Prime Property Turkey has years of experience dealing in real estate. Our agents communicate in Turkish, English, Arabic, and Russian among other dialects.
A few documents would be required for transferring the title of the property you'll opt for once your choices have been narrowed down (Tapu). The General Directorate of Land Registry and Cadastre is the issuing authority of legal documentation, such as title deeds. It shows your ownership of the asset.
The following are the documentation needed for the transfer:
- An identification card or passport for both the vendor and the customer.
- Interpretation of the records.
- The property's existing title deed.
- A three-monthly property evaluation report
- Required Earthquake Insurance (DASK)
- Translator if neither party speaks Turkish
If you don't have enough time to visit Turkey in person, you can choose a representative to carry out the transaction on your behalf by giving them a Power of Attorney.
Is it Possible for Pakistanis to Invest and Obtain Turkish Citizenship?
Indeed. Pakistanis can also easily obtain Turkish citizenship because of the two nations' dual citizenship arrangement. The most popular route to Turkish citizenship is through real estate purchases in Turkey.
As long as you do not sell the property for at least three years, you can buy it for at least 400,000 USD. What is more, one does not need any minimum period of residence to apply.
For instance, you are allowed to sell your property so long as you have your Turkish passport. The conditions before one can acquire a Turkish passport cut across all nationalities. Azerbaijani citizens, for example, Pakistanis, and Russians, etc are all eligible to take Turkish citizenship provided they go through the compulsory stages of naturalization.
Citizenship in Turkey has one more advantage, which is free schemes of pension, free education, and free health insurance.
You are free to live abroad as a Turkish citizen as there is no time restriction or requirement for continued residency in Turkey. For citizens, all processes related to real estate investments are simplified.
With a Turkish passport, you can visit more than 100 countries without a visa.
Finally, but just as importantly, citizenship rights are awarded to all family members, including wives and dependent children under the age of 18.
Whether Pakistanis Can Buy Real Estate in Turkey?
Individuals from Pakistan can purchase real estate in Turkey. Foreigners, especially Pakistanis, are largely free of any specific restrictions to avail themselves of property in Turkey. The process is simple and made up of three major steps:
1. Real Estate Finding:
Select a home you want to purchase.
2. Acquiring Tax Number:
The Turkish tax office has to issue a tax registration number to foreign buyers.
3. Open Banking Account:
For conducting transactions, a Turkish bank account will be required.
4. Transfer of Title Deed:
Upon completion of the sales, the deed for the property is transferred to the new owner.
5. Residency Permit:
Purchasers of Turkish real estate can obtain a residency permit.
