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Law on the acquisition and investment of foreigners in Turkey

Law-on-the-acquisition

A historical perspective:

Prior to 2012, a system of reciprocity in terms of ownership and foreign investment was applied in Turkey, which narrowed the number of countries entitled to own land in Turkey, meaning that Turkey was following a system based on reciprocal relations between countries. If a particular state allowed Turkish citizens to own Turkey, on the other hand, allowed the citizens of those countries to own and invest in them. If a certain country does not allow Turkish citizens to own and invest in it, Turkey, in contrast, does not allow the citizens of that country to own and invest. Nevertheless, Turkey was able to attract for many foreign investments.

However, with the promulgation of the Turkish Real Estate Law, article 35 of the Land Registration Law No. 2644, amended by Law No. 6302, on 18 May 2012, which raised the quality of the many restrictions relating to the purchase of real estate and opened the Turkish real estate market to nationals of more than 180 countries , Where the principle of reciprocity between Turkey and other countries has been lifted and foreigners can own and invest in Turkey, which led to the recovery of the Turkish real estate market in an unprecedented manner.

Legal view:

 

According to Turkish law there are two types of legal figures:

 

First: The average real person:

Is the individual who represents himself only, and according to the law of acquisition and new Turkish investment, the foreign person is entitled to possess all types of real estate (land, housing, work place), but provided that follow the legal boundaries of ownership under Turkish law. The average person is entitled to 30 thousand square meters (30 hectares) in Turkey, and he is not entitled to own any more. The army’s permission is required to own any property for a foreigner or a foreign company in Turkey.

The foreigner, who has a resident of Turkey, has the right to invest in the land he owns in Turkey, but he must inform the ministry of the quality of the project and take the necessary approvals.

 

According to Turkish law, the transfer of real estate is done through the “Tabu Foundation” located in each Turkish city, which follows the process of registration and the process of writing contracts between each seller and inventor.

 

 

 

As for the documents required for registration of real estate in the Tabu are:

 

  • Passport (must be translated).
  • Secure the earthquake from an insurance company if the property is a residence or work place
  • A personal photo of the seller (number 1) and a personal photograph of the buyer (number 2), provided that the images are up to 6 * 4 dimensions).
  • Payment of sales or purchase charges from the tax department.

An important thing that an investor must consider before buying is to make sure that there is no reservation on the property that he wants to invest in. To make sure of this, you can check the Tabu Foundation. In the event of any dispute or dispute between the seller and the buyer, the dispute must be transferred immediately to the judicial courts.

 

Second: Owners of legal property in Turkey:

Legal persons are intended for companies with an official trade register, public associations, trade unions and institutions, where the subject of the ownership of real estate property in Turkey was regulated under article 35 of the Turkish Property Law No. 2644. Under special conditions that companies have a commercial register issued by their country (Turkish Law No. 6491, Tourism Promotion Law No. 2634, Industrial Zones Act No. 4737), and there is no limit to the size of the ownership and investment of foreign commercial companies for real estate, Bah Commercial companies can own and invest in the size they want without any limit. However, there is a law that defines the quality and how foreign companies invest in other areas in Turkey. As for other legal entities (not commercial companies), such as associations and trade unions, Ownership and investment therein, these limits are found in Article 34 of Act No. 2644.

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Ramzy Real Estate advices for Investors

Ramzy real estate رمزي للتسويق والاستثمار العقاري

Dear Investor, Investing in Turkey’s real estate is one of the best ways to earn profits and excellent returns. If you are interested in investing in the Turkish real estate sector, we first advise you to know exactly and clearly where to start your investment in Turkish real estate. In the first stage, The real estate project is good, where investment and purchase is preferred in existing areas with high demand, or in promising areas with excellent future returns. The real estate near transportation is very high and fast, and the real estate that has a variety of facilities has a higher demand than non- Property buyers are often associated with landmark rates and nearby locations. Most people prefer to have the property close to the financial centers of the cities. We also advise you to pay attention to the year of construction of the property to be purchased. Most properties built before 2006 are not built with seismic technology.

Dear Investor, Identify the size of the opportunities before you and the risk factors surrounding them, to adopt a forward-looking outlook for the market and the expectations of return on investment.

 

We at Ramzy Real Estate make it easier for you to own and invest in real estate in Turkey. Our experts are always there to study the best projects and provide advice in all stages of real estate investment, from planning to investing to obtaining title. All you have to do is contact us.

 

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The volume of foreign and Arab investments in Turkey

حجم الاستثمارات الأجنبية والعربية في تركيا

Turkey is one of the most promising countries for investment, with its strong economy promising, it was able to occupy 17th place as the world’s most powerful economy. The Turkish economy has achieved a qualitative steps in recent years, so that the Turkish economy in less than a decade can double the per capita income Three times, to exceed 10.5 thousand dollars annually, as well as its strong economy, there are many other reasons that encourage investment in Turkey, the most important of which is the Law on Attracting Foreign Investments, which is based on the principle of equal treatment, allowing foreign investors to obtain the same rights and duties as Local investors, and foreign direct investment in Turkey, the volume reached 151 billion US dollars in the last ten years, equivalent to 24.8% of the total investments are focused in the Turkish real estate sector.

Where the volume of Russian investment in Turkey $ 5,182 billion between the period from 2010 to 2016, to form the volume of direct investment of Russian companies in Turkey, 3.7% of the total.

The European countries (France, Greece, Spain, Belgium and Germany) are among the top 10 countries investing in Turkey, with a total investment of $ 38.413 billion. Luxembourg alone is worth $ 8,985 billion in six years, 6.4% of the total.

For the Netherlands, the volume of investments in Turkey between 2010 and 2016, $ 22.15 billion, the Netherlands alone accounted for 15.8% of the total foreign direct investment in Turkey, and thus tops the list as the most investment country in Turkey.

As for Arab investments, Arab investments in Turkey are huge and many, with Arab investors making up 50% of the total foreign investors in the Turkish real estate sector. Saudi investments in Turkey are estimated at $ 6 billion, ranking 12 among the investing countries In Turkey, in all sectors, 658 Saudi companies invest in Turkey, 27% of which invest in real estate, and the rest (73% of the total) invest in other areas concentrated in energy, industry and food. For Emirati investments, Emirati investors alone own more than 300,000 square meters in the Turkish real estate market, and Qatari investments in Turkey have exceeded $ 10 billion to become a leading investment country in Turkey.

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The future of real estate investment in Turkey

مستقبل الاستثمار العقاري في تركيا

There are a number of factors that make Turkey an attractive environment for investment opportunities in many fields. Many Arab investors, Asian and Western investors see Turkey as the place to invest. It is a land that attracts investors and gives them profits that many countries do not. It is one of the most profitable countries in investment. Its strategic location linking continents, Turkey’s potential and resources, and the country’s political and economic stability make it the focus of investors around the world, especially in the real estate sector, as Turkey sees a strong urban renaissance, efficient infrastructure plans and mega-projects. International financial and real estate experts Property prices in Turkey will continue to rise during the coming period due to urban renewal, which will have a very positive impact in the near future. Large population growth plays an important role in increasing the size of urban renewal projects and my work T housing renovation. It is estimated that about 6.7 million units in Turkey will be demolished and rebuilt over the next 20 years, equivalent to an average of 334,000 units per year. Resulting in the need for about US $ 15 billion to finance urban renewal projects annually. With a budget of 400 billion US dollars for this initiative, with the private sector dominating the largest share. The investment law in Turkey has opened the doors for citizens of more than 180 countries to invest and own in Turkey, giving foreigners a great opportunity to contribute to this huge architectural activity. In Turkey, in general and in Istanbul in particular, the use of modern techniques in the construction of real estate and apartments in keeping with the modern methods of living, and is compatible with high standards of safety and seismic standards.

Property prices in Turkey are constantly increasing due to an increase in the demand of foreigners wishing to invest and own property in Turkey, and an increase in the domestic demand for real estate in Turkey. The statistics showed in 2016 that the percentage of citizens between the ages of 15 to 64 and able to work up To 67.8% of the population.

 

In Turkey, there are more than 165 hotel chains, 15% of which are owned by international investors, there is still a gap between supply and demand, and the supply does not meet the needs Turkey’s growing tourism, according to actual and projected tourism levels in Turkey

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Prospects for real estate investment in Turkey

آفاق الاستثمار العقاري في تركيا

Turkey has experienced a strong economic growth over the past decade and has established strong economic bases. The Turkish economy ranks 17th among the world’s largest economies, and the sixth largest in Europe. with a total domestic GDP of about 949 billion dollars in 2016.

The Turkish real estate sector is one of the most important results of Turkey’s economic growth. It is one of the largest growth sectors in Turkey. All indicators show the rapid growth of the Turkish real estate sector compared to other developed countries. This is based on several advantages such as Turkey’s unique geographic location, the experience and strength of the construction sector, population growth, increased per capita income and facilities for doing business. All these characteristics contributed to the increase in the share of the Turkish real estate sector in GDP and the increase in foreign direct investment to over 12.5 billion dollars. The real estate and construction sector achieved more than 4 billion dollars of total foreign direct investment, That is the result of the law that allows investors from more than 180 countries to own and invest in real estate in Turkey, in addition, to the many investment incentives in Turkey, which are active in the real estate sector and make them a real estate investment destination, where Turkey has an excellent climate and moderate makes it Preferred destination for tourists from all the world, as well as the strategic location of Turkey and the competitive position advanced as one of the 10 most powerful global economies in the growth of real estate, in addition to competitive prices in the Turkish real estate makes it desirable destination for real estate investment.

The real estate investment in Turkey includes several sectors, the first is investment in apartments, which is the most widespread and traded by foreign investors, and there is investment in commercial offices, from the purchase of offices and rent or resale after the increase in value. Investment in land is one of the most important areas of real estate investment in Turkey. Investment in land is very profitable. It is heavily sold and required in all international real estate markets. However, this kind of investment takes some time to achieve good results