Foreign nationals have the right to acquire real estate and limited property rights in Turkey, governed by Article 35 of the Title Deed Law No. 2644. Foreign individuals can acquire real estate in Turkey, subject to certain legal limitations. Here are the key points to consider:
Military and Security Zones: Foreign nationals cannot acquire or lease real estate in military forbidden zones and security zones.
Limitations on Property and Rights: Foreign individuals can acquire up to X hectares of real estate and limited property rights in Turkey. At the district level, they cannot acquire more than 10% of the privately-owned area.
Project Approval and Monitoring: Foreign nationals must submit their project plans for the undeveloped land they acquire to the relevant Ministry for approval within two years. Approved projects must be completed within the specified time frame.
Liquidation and Conversion to Cash: Properties acquired in violation of the law or used for purposes other than those intended are subject to liquidation and conversion to cash by the relevant Ministry if detected.
Foreign legal entities established according to their own countries' laws can acquire real estate and limited property rights in Turkey under special laws. Other foreign legal entities cannot acquire real estate or establish limited property rights in their favor.
The Council of Ministers can impose restrictions, suspend, or prohibit the acquisition of real estate and limited property rights by foreign individuals and legal entities when required for national interests. They are also authorized to double the amount of real estate that can be acquired per person nationwide.
Foreign individuals and legal entities must submit their project plans for undeveloped land to the relevant Ministry for approval. Approved projects are recorded in the land registry and must be completed within the specified time frame. The relevant Ministry monitors whether the projects are completed on time.
Maps and coordinate values for military forbidden zones, military security zones, and strategic areas are provided to the Ministry of National Defense and the Ministry of Interior to the Ministry of Environment and Urbanization for execution of land registry transactions.
Properties acquired in violation of the law, used for purposes other than intended, or whose projects are not completed within the specified time are subject to liquidation. If the owner does not liquidate these properties within the period given by the Ministry of Finance, the state will liquidate and convert them to cash, paying the owner the proceeds.
At JİT Consultancy, we provide professional support to foreign individuals and legal entities in their real estate acquisition processes in Turkey. We offer legal consultancy, project approval processes, and assistance with all land registry transactions. For a smooth and fast property acquisition process, contact us today.