9.How do foreign company investors buy land or property in Turkey?
A company established in Turkey in agreement with the Foreign Direct Investment Act must have documented authorisation from the Commercial Registry Office for a land or property purchase to take place. This document will include:
- The name or title of the company
- Names of the authorised representatives of the company
- Declaration that the nature of the business is coherent with the completion of the sale
Commercial companies from one of the 129 permitted companies must submit a notarised document similar to the one above. If an agent is acting on behalf of the company with this application, two passport photos and a legal power of attorney is required.
The Turkish British Chamber of Commerce and Industry can assist in the preparation of the relevant documents. These documents can be verified at the Turkish Consulate General in London. More information is available on this subject via the TAPU Directorate General at www.tkgm.gov.tr email address email@example.com
The land or property purchase application for the company along with the relevant documentation is sent from the TAPU land registry office to the General Directorate of TAPU for reciprocity control. It will also be checked to ensure that the land or property is not in a restricted or military zone. Once these checks are completed and the documents received have been legally notarised, the company is able to proceed with the said purchase.
The end of the purchase process involves receiving the revised TAPU documentation, making any pending payments to the seller and notifying the local council of the purchase to begin the necessary council tax/real estate tax payments.
The statements written in the questions & answers section guide relate to any land or property purchased by a non-Turkish national such as apartments, flats, villas, beach front homes, stone-built village property, holiday complex property, investment rental property with or without swimming pools, gardens or access to beaches.