The Turkish legislation (Law of 07.01.2006 №5444) permits foreign citizens and commercial organizations to acquire real estate with some restrictions.
Documents for individuals:
- Passport with a minimum validity of six months.
- Passport of the citizen of the Russian Federation.
- Color photos of 3.4*3.5 cm four pieces
- Personal tax number, open in the local tax office.
Documents for legal entities:
- Companies established in Turkey with foreign capital participation, must submit:
- the resolution of the Cabinet of Ministers, confirming the right to acquire real estate;
- the specimen signatures of the responsible people;
- power of attorney, if the buyer will be represented by trustee.
A foreign company established outside Turkey, shall submit the documents confirming the right to acquire real estate.
Purchasing procedure step-by-step.
1. Signing sales contract.
2. Issue of tax number.
3. Opening a Bank account.
4. Applying for the bank loan (under the contract).
5. Permission to purchase real estate from the Military Department and the Chief Cadastral Management (for objects that have been tested before May, 2011 by the Ministry of Defense in Izmir and received permission, re-inspection is not required).
6. Obtaining Tapu (title deed) and insurance - only after 100% payment.
7. ISKAN the act of putting the house in operation in Turkey. Iskan is as important when buying property in Turkey, as TAPU (title deed). To buy property in Turkey without Iskan is possible, especially at construction stage, but in the sales contract, the absence of Iskan should be noted and also approximate dates of its obtaining and responsibility of the developer of the property at failure of these terms should be stated.
8.Registering water and electric meters.
9. Obtaining a residence permit.
The residence permit is issued in Turkey for a period of one year and entitles its owner unlimited entry and exit during its validity. The procedure for obtaining a residence permit for property owners has changed with the new law on the presence of foreigners on the territory of Turkey dated April, 11 2014. Now residence permit is a plastic card, handed to the holder within 90 days from applying date.
For obtaining a residence permit in Turkey, health insurance is necessarily required and will assure your medical treatment during your stay. Public and private insurance companies offer a wide range of insurance products from which you can choose for the most affordable by cost and conditions.
Medical insurance for obtaining a residence permit includes:
- inpatient care;
- outpatient care;
- medical supplies.
11. Making of a will.