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Yes, provided the property you want is located within a municipality and is freehold, the process is a relatively simple one.
Turkish law basically states if Turkish citizens can buy property in another country, the citizens of that country can buy property in Turkey. Therefore EU citizens are eligible to purchase property in Turkey. More information can be found here. There are areas in Turkey where a foreign national cannot buy a property, especially if it is near a military zone or in some rural areas.
Purchases of property are done in cash sales whether that be via a deposit and completion process using a mortgage or through a staged payment method as applicable normally with off-plan purchases.
Yes, proceeds from property sales can be transferred out of the country. Be aware of taxation rules on sales particularly if the sale has happened within the 5 year limit for Capital Gains Taxation exemption.
Title Deeds in Turkey are referred to as Tapu, they are similar to Title Deeds in the UK and are issued by the Tapu Mudurlugu (Land Registry Office).
Yes, they can be issued in as many names as you wish. We strongly recommend that you consult a lawyer regarding this issue, also ownership issues following death are also considerably different than in the UK and must be considered.
Yes you can, but we highly recommend that you use a Solicitor either in Turkey or preferably a Solicitor in Turkey that has a presence/offices in the UK also.
Stamp duty in Turkey is referred to as “pul vergisi” and is not payable for most purchases in Turkey. When payable, it is 0.75% the value of the property.
There is an annual real estate tax payable to the local municipality. This tax is nominal and based on the notional value of your property. Tax rates differ between municipalities but range typically from 0.1% to 0.2% of the property value.
If you sell your property and make a gain, there will only be a Capital Gains Tax if you have not owned the property for 5 years. If sold within the 5 year period, you will be subject to personal income tax, your gain will be taxed based on a sliding scale and based on the difference between the selling price and the inflation adjusted purchase price.
Inheritance laws are complex in Turkey compared with the UK. This area is so important consultation with a lawyer is highly advisable. By prior planning on ownership, minimal inheritance taxation can be achieved.
This is charged on properties bought from private individuals at a rate of 3% usually split between the purchaser and the seller, each paying 1.5% each.
Vat or KDV (katma deger vergisi) does not apply to property transactions.
These do not normally exceed £100 for an ordinary property.
These fees could include: architects fees, solicitors fees, Turkish legal fees, UK legal fees (typically 1%), connection to water, electricity etc; most these fees, except English Lawyers fees, are subject to Turkish KDV (VAT) at 18%.
In line with the boom in tourism, low cost airlines such as Turkish Airlines are already planning new routes, lower fares and increased services to cater for the increased numbers of visitors. As accessibility increases, Turkish property will become even more sought after and investors will inevitably see encouraging capital appreciation.
The main points of entry for investors in Turkey are Bodrum, Dalaman or Antalya, with bookings from Turkish Airlines, British Airways, Thomas Cook and Excel.
In winter, daily flights to Bodrum are available from Heathrow with transfer in Istanbul to Bodrum. However in summer, you can fly to Bodrum direct from most UK airports.
Turkey is a dynamic and emerging market equipped with a well-developed infrastructure and a globally competitive work forces. Turkey is also home to a thriving tourist industry and rapidly growing property market, attracting huge international interest.
The Turkish property market currently offers excellent quality and value for money. This, combined with the outstanding expected growth (25-40% per annum), offers property investors a unique opportunity.
Turkey is currently at the very start of the long road to possible EU inclusion. There are many factors yet to be discussed and Turkey issues to be corrected before inclusion will be seriously considered. When Turkey does get accepted into the EU, it can expect the price of property to rise substantially and tourism to improve even further. Many investors are purchasing in Turkey with EU inclusion as a major driving force for this investment, while they look to take advantage of the current low property prices and a growing rental market.
Turkish economy is very strong with 5.6% GDP growth in 2005 and Turkey now has the 22nd largest economy in the world.
Turkey’s system of government is democratic and it is a full member of NATO. The president, currently running the Justice & Development Party (AK), has broad powers of appointment and supervision, and is chosen by Parliament using proportional representation for a term of 7 years.
The stringent entry conditions imposed by the EU require human rights to play an instrumental role in the progress of a struggle between Turkey's policy makers. This will ensure a fully democratic system, in line with European standards, which is already well developed in such areas as allowing women a political vote and an allowance for complete freedom to worship any religious faith.
Flight time is only approximately 3 ½ hours from the UK.
Entering Turkey is simple and visitors from many EU countries and New Zealand are free to enter Turkey without the need for a visa.
However citizens of the following countries need to purchase a visa, which is a sticker obtained at the point of entry into Turkey and is valid for 3 months:
Country
Cost
UK
GBP 10
US
USD 26
Canada
Free
Australia
Ireland
Netherlands
10 Euros
You are well advised to apply to the Turkish Government Office for a Residents Visa if you are relocating to Turkey for more than 6 months. The document they issue will need to be taken to the police station for processing.
The monetary unit is the Turkish Lira (YTL) exchange rates are published in the daily newspapers. Most banks exchange foreign currency as do most hotels and local shops in the tourist areas, there are also many change offices in the major towns.
Credit and bank cards can be used in ATM's to obtain local currency but the exchange rate may be less than exchanging foreign currency locally.
Generally a better rate of exchange is obtained locally so it may be advisable to change foreign currency when you arrive. Check the Central Bank of Turkey web site for daily exchange rates.
In the tourist areas you may find that goods and services are priced in foreign currency i.e. Sterling - it is advisable to enquire what exchange rate applies before making any purchase.
You should make sure that you have suitable medical insurance cover when visiting Turkey as medical and treatment costs can be very expensive.
For minor ailments go to the chemists (eczane) and explain what the problem is, most medicines including antibiotics are available over the counter. In most towns and cities there is always a 24 hour chemist. If it is necessary to visit or call a doctor there will be a charge for his/her services.
There are private hospitals, clinics and doctor's offices available in towns and cities, your hotel or tour operator will be able to advise you of where they are. Many doctors and chemists in the tourist areas speak good English.
In some cases you may have to pay for medical treatment and then claim back from your insurance company when you get home so make sure that you receive all the necessary receipts and reports.
If a service charge of 10-15% is added to your restaurant bill it is customary to still leave a further tip of around 5% for the waiter. In smaller restaurants when a service charge is not added the norm would be a tip in the region of 10%.
It is not normal practice to tip taxis drivers a rounding up of the fare is the accepted practise.
British and Irish passport holders travelling to Turkey require a visa. Visas can be obtained at the port of entry in Turkey or from the Turkish Consulate General in London or Turkish Diplomatic Missions in other countries.
Sticker type visas are issued at the port of entry and allow staying in Turkey for up to 90 days. It costs £10 for UK and €10 for Irish passport holders. If there is more than one person travelling on the same passport, each individual is liable to pay the visa fee. This type of visa does not permit to engage in paid or unpaid employment.
Those who wish to obtain entry visa from the Turkish Consulate in London should apply to the Consulate General. Visa fee is £40 and should be paid by postal order or cash only. A passport size picture should also be submitted during application.
It is advisable to have a minimum of six months validity on your passport from the date of your entry into Turkey.
Travel document holders need to apply to the Consulate General in person with his/her travel document with a validity of at least one year, a passport size photo, fully filled application form, latest bank statement, a reference letter from his/her employer or school. The fee is 40 pounds sterling. All visas for travel document holders are single entry.
For more information or to make an appointment for a Visa application, please contact Turkish Consulate General in London.
Turkey works on a reciprocal agreement and if Turkish citizens are permitted to buy a property in their country, citizens from that country are allowed to buy in Turkey. With Turkey set to join the EU in 2007 this has opened its doors to allow citizens from many different countries to buy a property in Turkey in line with EU law.
Foreigners are allowed to buy property or land in their own names in towns but not in villages or rural areas.
Turkey is a highly sought after holiday destination and this factor is a strong contributing factor to the property investment success the country is currently undergoing. 25 million tourist flock to its coastal resorts each year (up from 14 million in 2004) and this, combined with an excellent sunny climate, indicates the success that Turkey is today.
Turkey’s current status as a strong candidate for EU membership has added to the overwhelming international interest in property iin Turkey. Returns on property investment are high and last year alone, property prices rose by around 50% in some areas. An increase in demand is set to drastically push prices upwards and create an environment that is ripe for buy-to-let investments.
The stunning natural beauty, warm climate and vibrant culture in Turkey continue to attract tourists and retirees each year.
Turkey’s appeal also lies in comparatively low cost of living and stable economic situation, further enticing visitors to the country. The government has tax incentives in place which favour property transactions, such as exemption from annual property tax in for the first five years of ownership, no capital gains tax for individuals who have owned a property for more than one year and easy repatriation of funds.
A tourist visa issued at the airport on entry into Turkey entitles you to stay in Turkey for 90 days including multiple entry and exist during the 90 days. You must however leave Turkey before the 90 days expires.
A residents visa permits you to stay in Turkey for time frames of 1 to 5 years depending on the length of visa applied for and granted.
In addition to not having to exist and renter the country every 90 days a residents visa also always you to:
Resident visas are applied for at the foreigners department of the regional police office of the area in which you are living. In our case Antalya.
To apply you will to have the following documentation.
The visa is a small blue book containing your details and photo which you should then carry with you at all times. You can present it on entering and existing Turkey and will then not need to pay the tourist visa entry fee.
The answer is simply no. In order to work in Turkey you will need your employer to apply for a Work permit on your behalf. The residents visa will be required though in order to apply for the work permit.
Alternatively you can form a Turkish company and through this route obtain the right to work in your own company.
No. You are required to be married for a minimum of 3 years before you can apply to become a Turkish citizen. As a Turkish citizen you will have the right of residency and work. Initially therefore you will need to have a residents visa and if you plan to work, for anyone other than your partner, then you also need a work permit.
Yes but in order to do so without incurring hefty import duties and taxes you will need to have documents to prove you own a property in Turkey and possess a residents visa before your shipment arrives for custom's clearance. A notarised rental agreement will also be considered equivalent to property ownership.
Technically speaking yes. You can bring a UK plated vehicle into the country for 6 months at a time. You will not however be able to simply reregister it on a Turkish number plate unless you are going to be working for a Turkish company or are in the armed forces. If you want to have a vehicle permanently in Turkey then you will either have to take your UK vehicle over the boarder every 6 months or buy and licence a vehicle in Turkey.
Providing your pets have a pet passport proving their inoculations and a health certificate then yes. There is a one pet per person rule for birds, cats and dogs and 10 for fish. In the event however that you should want to return to the UK, then your pets would have to go through UK quarantine, or spend 6 months in a European Union Country before returning to the UK.
If you working for yourself legally or for an employer you or your employer should be paying a National Insurance contribution. This will provide you will health care cover at Turkish State Hospitals and eventually a pension on retirement. If you are not working or working illegally then there is no health care provided and you should ensure visits are covered with a private travel health insurance or long term stay through private health insurance.