2.Can anyone buy property in Turkey?
Title Deed Law article 35 states that FOREIGN NATIONALS can buy property in Turkey on the condition it is reciprocal and complies with legal restrictions. Simply this means that those foreigners wishing to purchase property can do so if they are from countries where Turkish citizens also have authorisation to buy property.
There are a total of 129 countries such as the following that have this agreement with Turkey:
More recently the Gulf State and many Middle Eastern countries have also been included in the reciprocal law showing Turkey’s motivation towards investing in its tourism industry.
FOREIGN COMPANIES are subject to the same rights as domestic foreign investors and companies who invest their foreign capital are considered to have equal rights to Turkish companies. Unfortunately foreign charities, societies or foundations do not have the right to purchase property according to article 35 of the Title Deed Law.
COMPANIES ESTABLISHED BY FOREIGN INVESTORS in Turkey can buy property in Turkey on condition they are lawful and adhere to operational intention stated in the company’s Article of Association. If the company is then acquired by a Turkish company or a foreign investor the same regulations apply.
A company established by a foreign investor in Turkey wishing to buy commercial land or property in a restricted area is subject to the consent of the Turkish General Staff.