Total value of the bank receipts evidencing payment must match the value USD 250.000 taking into consideration the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding the date of payment.
The values given in the valuation report and the official deed must not be less than total values given in the bank receipt.
If the bank receipt is paid in Turkish Lira, the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding the payment date is relied upon to calculate the USD equivalent of the value in the bank receipt.
Total values calculated based on the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding date, when each bank receipt is issued, must match USD 250.000.
For bank receipts, the effective sale rate of the Central Bank of the Republic of Turkey applicable on the last business day preceding payment date, and for official deed, the effective sale rate of the Central Bank of the Republic of Turkey applicable on the business day preceding the sale shall be relied upon. In this case, both values must match USD 250.000 separately.
A valuation report is to be received from the valuation firms published on the website of Capital Market Board (CMB) (http://www.spk.gov.tr/SiteApps/SirketIletisim/List/gds). It is considered to be valid for three months following the date when it is issued. It will be considered valid starting from the time it is submitted until the procedure is complete.
It must be deposited to the bank account of the seller or the seller’s authorized representative through such means as money transfer, EFT etc. by the purchaser or the purchaser’s authorized representative and must be documented.
For real estates owned by public institutions and enterprises, such as TOKİ and Emlak Konut, the transfer/payment of the price may also be evidenced by a certified bank receipt or official letter showing the amount received.
Once the undertaking stipulated by the regulations is processed within the framework of the applicable Regulations and the circulars regarding implementation thereof, the land registry directorate that consummated the procedure sends all the documents to General Directorate of Land Registry and Cadastre or the relevant regional directorate.
The foreigners, who receive a certificate of eligibility, first apply to the Provincial Directorate of Migration Management for residence permit and to the General Directorate of Civil Registration and Citizenship Affairs for citizenship.
It is possible if the share is worth USD 250.000 minimum.
It is possible.
No. It is possible to apply for the real estates purchased at different times.
For processing an undertaking through sale, the quality of the real estate does not matter (It can be residence, land, field, orchard etc.) However, in cases, where undertaking is processed into a notarized agreement for the promise of sale, the real estate must be a real estate with condominium or construction servitude created thereon.
It is not. The real estate must be registered to the natural person, who is to file the application.
It is not. The real estate(s) to be sold or promised for sale must not be registered to the legal personality of the company, in which the foreign natural person is a shareholder or director.
The real estate(s) to be sold or subject to the promise of sale must be registered to Turkish citizens. Moreover, it also must not be a real estate transferred by a foreign natural person after the date 12.01.2017 (Including the foreign natural person to acquire and his/her spouse and children).
The procedure will depend on the response to be received from the Provincial Directorate of Civil Registration and Citizenship Affairs.
It is possible for the sale to take place along with an existing mortgage or attachment.
In this case, the advance payment amount remaining after subtracting the loan amount shall be taken into consideration. For sales with legal mortgage, on the other hand, the portion paid in advance must match the value of USD 250.000.
It is possible if this is clearly stated in the power of attorney.
As applicable for 07.12.2018 and thereafter, the application may be filed after an undertaking is provided not to transfer and cancel the agreement issued before the notary for a period of three years, provided that the minimum amount of USD 250.000 or equivalent thereof is paid in advance for real estates with condominium or construction servitude created thereon.