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:
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 webmaster@tkgm.gov.tr
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.