Turkey is known to be one of the best countries to reside in a modern world for its cultural heritage, beautiful weather and hospitality. The country offers the best of both ancient and modern worlds. With numerous investment options, career opportunities and best-in-class infrastructure, Turkey has been attracting people from all around the world to apply for citizenship.
The amazing healthcare facilities, free education and high quality of life at low cost are a few reasons that influence people to become a citizen here. Also, once you have a Turkish passport, you can travel without visas to 110 countries! While there are many ways through which one can get Turkish citizenship, the best option is believed to be investing in properties. Purchasing real estate worth a minimum of USD 400,000 is the most popular way among foreign investors. You can buy anything- a house, land, commercial property, an apartment or even an industrial premise.
What to keep in mind while buying a property?
Seek legal advice from the start: As foreigners, you must always have a legal person with you on board instead of acting on your own. You’re going to need their experience with the property and tax law.
The neighbourhood: Although there is no dearth of good investment opportunities in the country, having an expert by your side can make things easier. It’s always good to be assisted on where and how to buy property in Turkey.
Verification of the documents: It’s highly recommended that you analyse all the documents during the purchase. Our team is there to handle things professionally so there is no problem during transactions.
Inspection of the property: The job doesn’t end after analysing the documents; verification of the property is as important. With the help of our consultants, you can know all the details about the structure and facilities of the property.
The transaction: The legal team will review and amend the contract and ensure that all the documents are verified before you sign them.
The investment program
The investment program is excellent as it doesn’t just cover the applicant but also the entire family. To take the real estate route to obtain Turkish citizenship, you can either choose to invest in a single property or multiple properties and hold them for at least 3 years before you opt to sell them. Once you are don’t with your research and have chosen a property, you need to get in touch with a reliable agent to know more about the area before making a purchase. After you have negotiated the price and the terms, you need to hire legal help to help you with property and tax law and complete the acquisition without hassle.
Why do you need a legal professional?
Just like anywhere, there are many legal aspects involved in property purchase in Turkey like land register law, Turkish civil code, Turkish property legislation and notary process. Here we have a few solid reasons why you need a legal professional for purchasing a property in Turkey:
The paperwork: There are going to be many formalities and paperwork in the native language and hiring an English-speaking lawyer makes the process comfortable.
Security: The process of purchasing a property can take a long time and changes in social, economic and commercial aspects might happen. Having legal assistance can ensure you don’t get impacted.
Due diligence process: The purchase process often needs the buyer to be physically present for different formalities. Since an overseas person can’t make it personally for the mandatory visits, your legal aid will represent you.
Dealing with the brokers: Any mistake in choosing a real estate agent can create a lot of problems but having a legal professional with you rules out your chances of getting troubled.
Dealing with the taxes: Foreigners buying a property may be subjected to various taxes at different stages- tax while purchasing, after ownership and taxes related to the sale and inheritance of property. With a solicitor by your side, the taxation process goes comfortably.
Prime Property Tukey is there to help!
Turkish real estate enjoys global prominence and when the purchase is done under the right legal guidance, the deal can become a smooth sail. A reliable attorney with ensure peace of mind and will navigate you efficiently throughout the deal.
With more than a decade of working in the Turkish real estate market, Prime Property Turkey ensures that the needs of our clients are well taken care of. Not only do we offer you our expertise in the Turkish market, but we also offer consultation on the purchase and sale at later time. Our comprehensive legal service system help you in every stage. Our legal professionals will be there beside you during the application, documentation, purchase and taxation.
What are our unique offerings?
Preliminary free legal advice
Assistance in the preparation of the documents necessary for the purchase or sale of a real estate property
Ownership verification
Checks on possible burdens
Tax consultancy
Preparation of contracts and notary deeds
Revision of all transaction documents, including those made by third parties (for example, the documents for the notary transfer of the ownership rights) to make sure that your interests are fully protected
Legal help during the notary transfer of the ownership rights when purchasing or selling a property
Any other legal services required in each particular case.
Looking to own a property in Turkey? Click here so we can help you make your dream come true with the right consultation on the purchase and sale.
