You will be required to own a property or multiple properties in Turkey, with a value of at least 400.000 USD, at the time the Sales Contract, or ownership transfer, is notarized at the Land Registry Office.
The Capital Market Board, after an official valuation survey is done and valuation report written, will authenticate the value of the property/s.
If there is a mortgage loan, or 'subject to mortgage' on the property/s, the amount will be noted in the valuation survey and deducted from the value.
The value of the property has to be paid via bank transfer from the purchaser’s account to the seller’s account. This will ensure the transaction is officially recorded with bank receipts.
Your application will be sent to various official bodies: Ministry of Internal Affairs, General Directorate of Population and Citizenship Affairs, Directorate of Foreigners Department, The Ministry of Environment and Urbanization and Land Registry Office.
You will be required to keep the purchased property for at least 3 years. This is annotated on the Notarized Sales Contract/title deed.
Please note: properties that have been transferred by the applicants spouse or children after 12.01.2017 are not within the scope of the regulation.
