Lawyer in Turkey

Tuesday, August 20, 2019

No need for a pass photo on a Tapu

No need for a pass photo on a Tapu (ownership title)

In the past 15 years, the Turkish government has worked hard to digitize civilian personal data in the country. Now it's time to reap the benefits. Simplifying the well-known Turkish bureaucracy has started. As of 10.07.2019 the legal obligation to place a certified passport photo on the official deed of ownership has been lifted.

Whatever action you took at the Tapu, it was previously required that you could identify yourself with a recently taken passport photo not older than 6 months in addition to your ID document. The passport photo was stuck in the official transaction books of the cadastral service and had to be signed by the parties with the deed of purchase and delivery.
The purpose of this was to prevent scams. The official on duty was to ensure as far as possible whether the identity of the applicant corresponds to the person who was registered in the deed.

With the digitization of Turkey, this is no longer necessary. Nowadays getting the very last personal data via the national digital system is a matter of a few minutes. This saves a lot of time and administration for both the civil servant and the citizen.

However, a passport photo is still placed on the Tapu (read: certified copy of proof of ownership) if one so wishes.

Finally, we would like to draw your attention to the fact that there is a so-called QR code on all new extracts (Tapu Senedi). By scanning this with your telephone, the location on which your property rests will be visible. This is a good tool so that you can object on the spot when another lot is shown.

If you have any questions regarding cadastral operations at the Tapu office, do not hesitate to contact us.

Thursday, March 14, 2019

Obligation for Property Valuation in Turkey

The Turkish real estate market is dealing for years with unregistered money circulation. Herewith the government is missing a lot of tax rates, due to the fact that investors are not giving up the fair market value with property transactions. The reason therefore is that the legal transfer fees are calculated on base of the purchase amount that the parties declare independently at the title of deed office. And that's the point where it goes wrong. Actually the basic indication for the purchase value is the municipal current market value, but often the municipal market value differs from the fair market value.

Besides the lost tax rates, the buyer is often the victim of unrealistic purchase amounts, with the result that Turkey can not create a stable trade name on the international real estate market.

So far the imposed measures proved to be ineffective. That is the reason why the Ministry is  introducing the obligation of a valuation report starting from 4th of March 2019! Before the deed of purchase and delivery can take place, a valuation report with the fair market value of the object must be established by a recognized valuation company, which will serve as the basis for calculating the property transfer fee.

The regulations are laid down in a Land Registry Regulation by the Ministry of Environment and Urban Development (TKGM). In accordance with this regulation, the procedures of purchase and sale of a property will have to deal with a recognized valuation office that has been approved by the government, the so-called "SPK lisanslı uzmanlar".

With this new regulation, all foreign investors will be subject to the mentioned conditions.  The established valuation report has a validation period of maximum of 3 months from the date of issue. Obtaining a new valuation report within those 3 months is not necessary unless there is such a change to the property that will have an effect on the value. In case of buildings who are under construction, the value will be based on the details of a completed object.

The purpose of the government may be clear, but the remain main question is; whether the intervention of a recognized valuation office will actually benefit the foreigner. On the other hand, it is certainly a fact that the intervention of an recognized valuation office will considerably delay the ownership transactions in a country where the economy is running very fast.

For more information and guidance on your real estate sale or purchase, please contact us.

Wednesday, October 17, 2018

OBTAIN TURKISH CITIZENSHIP with buying property

Turkey has never been as generous as the last year. The economy of the land keeps moving with its ups and downs and finds reasons to attract foreign capital to invest. The news comes from internal affairs and reports that the conditions for acquiring Turkish nationality is been changed in the sense that the investment capital contribution has been reduced in particular.

With the regulation amending the regulation on the application of the Turkish nationality law published in the Official Gazette, the foreigners are able to acquire Turkish citizenship on the following possibilities;


  • In the context of business investment, the minimum fixed capital investment is reduced from 2 million dollars to 500 thousand dollars
  • purchase investment in real estate property is been reduced from  $ 1 million 250 thousand dollars, provided that the purchased real estate will not be sold within three years
  • the amount limit foreseen in order to obtain citizenship by acquiring a certain amount of deposits in Turkish banks for a period of three years or the acquisition of government debt instruments is limited from 3 million dollars to 500 thousand dollars,
  • to participate and investment in fund participation share of venture capital fund or venture capital is reduced from 1.5 million dollars to 500 thousand dollars.
In addition, the limit on the amount of employment envisaged to acquire Turkish citizenship through employment creation has been reduced from 100 to 50 persons.

As an expert in real estate investment and legal matters, my attention has been drawn in particular to the possibility of obtaining citizenship when investing in real estate.

Imagine that you would like to set up a company with real estate for storage, processing, production, trading or whatsoever , a nice step to bypass the application for a work permit.
You must have a work permit to start your business.

Don't hesitate to contact us in case you need more information.