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JustinM

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Everything posted by JustinM

  1. Lastly, nationals of the following countries cannot buy agricultural land in Turkey. Morocco Latvia Egypt Albania Afghanistan
  2. Good morning, Typically agricultural land cannot be built on. Especially in these regions. 5% of the property can be developed for a dwelling, but the main intent is the land is intended to be used for strictly agricultural purposes. Hence the reason in price differeneces between agricultural land and residential land. It will be doubtful that you could purchase this land and live on it since it is zoned agricultural. 1. Legal Basis: In accordance with the Article 35 of the Land Registry Law No. 2644, amended by Law No. 6302, which entered into force on 18 May 2012, the condition of reciprocity for foreigners who wish to buy property in Turkey is abolished. Information on countries whose citizens can buy property and estate in Turkey can be provided from the Turkish Embassies/Consulates abroad and the General Directorate for Land Registry and Cadastre. Persons with foreign nationality can buy any kind of property (house, business place, land, field) within the legal restrictions. Persons with foreign nationality who buy property without construction (land, field) have to submit the project which they will construct on the property to the relevant Ministry within 2 years. 2. Format of the Contract: According to the Turkish laws and regulations in force, transfer of ownership of a property is only possible with an official deed and registry which is signed at the Land Registry Directorates. It is possible to sign a “sales commitment agreement” before a notary. However, legal ownership to the property do not pass with a “sales commitment agreement” or other kind of sales agreements to be signed before the notary. 3. Legal Restrictions for Foreigners in Buying Property: a) Persons with foreign nationality can buy maximum 30 hectares of property in Turkey in total and can acquire limited in rem right. b) Foreigners cannot acquire or rent property within military forbidden zones and security zones. c) Persons with foreign nationality can acquire property or limited in rem right in a district/town up to 10 % of the total area of the said district/town. d) Legal restrictions do not apply in setting mortgage for real persons and commercial companies having legal personality which are established in foreign countries. e) The properties are subject to winding up provisions in following cases: (i) if the properties are acquired in violation of laws; ii) if the relevant Ministries and administrations identify that the properties are used in violation of purpose of purchase; iii) if the foreigner does not apply to the relevant Ministry within time in case the property is acquired with a project commitment; iv) if the projects are not materialized within time. 4. Application and Procedure: Buyer should be from the country whose citizens can acquire property or limited in rem right in Turkey and meet the necessary conditions. Application: The owner of the property or his/her authorized representative should make a preliminary application to the Land Registry Directorate. (Preliminary applications are made before noon by taking sequence number) If the preliminary application is incomplete, the file will be kept waiting. Necessary Documents: a) Tittle deed of the property or information on village/district, block, building plot, detachment. b) Identification document or passport (Together with its translation). c) “Property Value Statement Document” to be provided from the relevant municipality. d) Compulsory earthquake insurance policy for the buildings (house, office, etc.) e) 1 photo of the seller, 2 photos of the buyer (photos to be taken within last 6 months, 6×4 size) f) (If one of the sides cannot speak Turkish) certified translator, g) (If the power of attorney is prepared abroad) The original or certified copy of the power of attorney and its approved translation. Information on powers of attorney issued abroad: – Powers of attorney are issued by the Turkish Embassies or Consulates. – If the power of attorney which is issued by a notary of a foreign country is certified according to The Hague Convention dated 5 October 1961 and if it bears “Apostille (Convention de La Haye du Octobre 1961)” in French, there is no need for an additional certification of the said power of attorney by the relevant Turkish Consulate.(In the language of the country and including a approved photo of the interested person) – If the power of attorney is issued by a notary of a foreign country which is not party to The Hague Convention dated 5 October 1961, the signature of the said notary has to be certified by the relevant authority of the foreign country and then the signature and seal of the said foreign authority have to be certified by the Turkish Consulate in that country. (In the language of the country and including a approved photo of the interested person) Financial Aspect of the Procedure: Both seller and buyer have to pay the tittle deed fee, calculated according to the selling price which cannot be less than the “Property Statement Value” to be issued by the relevant municipality. (According to the Charges Law No:492, the title deed fee percentage is 4%.) 5. Other points to be noticed by foreigners who wish to buy a property in Turkey: – The foreigner has to inquire with the Land Registry Directorate if there is any limitation on the property, such as mortgage, arrestment or any obstacle which prevents the sale of the property. – If the application by the foreigner for buying a property is rejected, the act can be appealed to the relevant Regional Office of the Land Registry Directorate. – It is advised that foreigners do not work with persons/companies who/which are not expert or reliable. – Having a residence permit is not a condition for the foreigner who wishes to buy a property in Turkey. – If there is a disagreement between the sides on the sale of the property, the case has to be brought before the Turkish courts by referring to judicial authorities.
  3. Having worked in Logistics here when I first arrived in Turkey, I can assure you there will most definitely be storage fees. Mersin is one of the busiest ports in Turkey and everything will get processed by who knows who. So, if you know no one, be prepared to wait a week or so. Don't want to be a bearer of bad news, and I hope I am wrong. Just telling you to be prepared for worst case.
  4. JustinM

    Beylikdüzü

    Beylikduzu is an ok area in Istanbul. It is rather affordable, which makes it an attractive option for many families. However, you would need to be careful as to which area of Beylikduzu you would live, just like any other place. The further you can get away from Esenyurt, the better. List any specifics you are looking for, and I'll be glad to try and help.
  5. From what I know Ataturk invited all of those in the old Ottoman times to return to Turkey if they wished. I know this because my wife's grandparents returned from what is present day Romania. So, I doubt this is the case. Best thing would to be contact the consulate or embassy in your area and ask them directly. I wouldn't get my hopes up though.
  6. My process didn't go like this. I submitted the paperwork and did the interview in the same day. Got an email saying 7 months later it had been approved and I could head to the nearest consulate to pick-up my Kimlik, etc. This was done originally in Istanbul, but we were living overseas. Sorry, not much help I don't suppose.
  7. If you speak/read/write Turkish fluently, then your foreign education could be seen as a benefit, especially if you have English language and other language skills.
  8. Yes, there are restrictions for certain nationalities. The only two I know of that work with some of these nationalities is Kuveyt Turk and Al Baraka.
  9. Only once to get fuel coupons. Base was decent, with good services. Small area, but rather close to Milan and Northern Italy is hard to beat for food. Good luck!
  10. That is interesting for sure. Were you expecting any money back from your home purchase? The reason I ask, is a lot of these Insaat businesses are owned by Arab nationals. Just trying to run down and scenario. Either way, best of luck. Cheers, Justin
  11. Pete, Having dealt with several Turkish Banks both professionally and personally, I could almost guarantee this is a mistake. I have always had pleasant and professional experiences. I'm sure it will be resolved quickly. Please keep us updated. Cheers, Justin
  12. Late, late, late response I know. However, prices have relatively stayed the same, with an increase in Villa type properties. It is still a very affordable city compared to other coastal regions. This will change in the future as more and more expats take advantage of the low lira.
  13. Don't know if I would call it a scam or not. That's a reasonable fee for someone coming out to your home to take a look. he could have attempted to charge more if he was scamming. Sounds to me like a lost in translation issue as far as why they can't fix it. I would say that most anyone in that field here in Turkey will not have the language skills nor the previous foreigner interaction to accurately assist. Do you have any Turkish speaking friends that can call or be there while you are getting it fixed? This would seem to be the easiest way. Cheers
  14. Confused on how I don't know. It is upon purchase. Couple of threads now people are going out of there way to answer your questions, yet you have a negative response. No one here is going to say you must have an appraisal,only those selling or buying. If you are seeking to get away from the evil empires of Europe and America as you say, you will have a very hard time here in Turkey with an unappreciative mindset. Best of luck!
  15. There are a couple of different options. First, you could google Real Estate Valuation Report and your city. This will pop up with the local consultants doing this type of work. The second, is to contact the emlak (real estate agent) or bank you purchased your home through, or are currently purchasing your home through. They will have a company that they work with. However, here are a couple of very important notes. The value of the property will be determined by an official valuation survey done by the authorities that are announced by the Banking Supervision Board. The value of the property must be at least $250,000 in the valuation report. The cost of the SPK validated appraisal report will be between 1.000 to 2.000 Turkish Lira and buyers will pay this fee directly to the new real estate appraisal department. Foreign buyers should refuse to do business with any estate agent quoting more or claiming they are licensed to carry out the valuation. Appraisal reports will be valid for three months from approval. In the event of a canceled sale, if the seller finds another buyer, they can use the same appraisal report. If the property is at the off-plan or construction stage, the value will be the estimate at the time of completion. The value cited on the amount of the appraisal report will also appear on the title deeds. After the tapu (property title deed) is signed over, the Land Registry and Cadastre Information System will add the report to their system before returning it to the buyer. Expected time of completion is three days for Istanbul and six days for other provinces.
  16. I will add on to this topic for the sole fact that everything Ken has mentioned, is spot-on. I will say that if you do not have a large amount to invest and you have the possibility of having a Turkish bank account, that some of them offer ridiculous interest bearing savings accounts. Some as high as 12-13%. THis is not a long term strategy, but if you have some money you can put aside for a while, I say go for it.
  17. If the property is not new, a valuation report must be obtained through a certified program evaluator. That report must be submitted alongside the application to prove true value of the property.
  18. Omer, Unfortunately not, both the valuation and purchase price must be 250k. In addition, the funds transfer must be proven. Receipts of wire transfer are to be included in the application to show origin of transfer and amount equals full 250k.
  19. Ibrahim, If on my end, I wasn't trying to go in that direction. Just trying to fully understand what he is looking for. Let me know where it leads astray and I will edit. Wouldn't be posting numbers and market interest if trying to drum up business.
  20. The average return on investment in Turkey is around 4%. The new developments in Istanbul are averaging 6% at the moment. Now if you are truly investing, you are not holding on to this property for a long period of time. Average real estate investment for gain is 2-3 years. As the original post stated this is a "hyped-up" market are truly incorrect as proven by latest numbers. You can truly expect a 20% return on the right investment in Istanbul. The next market we are watchin is Izmir, however, you must be very select at the moment. Properties in Antalya, Fethiye, Bodrum, Alanya, if purchased out right can be a safe option for someone wishing to make an income during season and to have income to survive. I'm going to need more information to really guide you in the best way possible, as commercial options return low yields historically here in Turkey.
  21. You need to contact the nearest Turkish Consulate to you. They will assist you with information that is relevant to where you are. Turkey Embassy Canada 197 Wurtemburg Street K1N 8L9 Ottawa Ontario Canada Phone+1-613-789-4044 +1-613-789-3440 +1-613-244-2470 Fax+1-613-789-3442 +1-613-244-2491 [email protected] Website URLhttp://ottawa.emb.mfa.gov.tr Report changes Turkey Consulate Canada 10 Lower Spadina Avenue, Suite 300 M5V 2Z2 Toronto Canada Phone+1-647-777-4106 Fax+1-647-258-2725 [email protected] Website URLhttp://toronto.bk.mfa.gov.tr
  22. Turkish Citizenship Application by Real Estate Investment STEP 1 Getting a Tax Registration Number Tax Registration number can be obtained from any tax office in Turkey. Original Passport and Photos are required. STEP 2 Opening a Turkish Bank Account Documentation of transactions during the buying stage will be necessary. Passport Original and Tax Registration Number is required. An Official Document (such as Public Utility Bill) shows your current address is required. STEP 3 Finding the Property Total Value of $250,000 or equivalent Turkish Lira (single or multiple units) Completed or Close Completion Habitation License granted Construction Servitude or Title Deed ready Suitable for Official Valuation Survey STEP 4 Buying the Property Use Bank Transfer and document the transaction by receipt Get Title Deed Registry and/or Notarized Sales Contract annotated with “Not To Be Sold For 3 Years STEP 5 Obtaining the Certificate of Conformity Request, Provide Official Valuation Survey Submit the Bank Transfer Receipt Apply to Ministry of Environment and Urbanization> STEP 6 Application for Turkish Residency Gather the Required Documents Apply to Directorate General of Migration Management FINALLY Application for Turkish Citizenship Gather the Required Documents Apply to Directorate General of Migration Management
  23. Yes and no. We process these daily. I will say that the total value must be $250,000 USD. However, just because you pay $250,000, that does not mean you qualify. The property valuation must be $250,000. If a property owner has ever undervalued for tax purposes, then you can pretty much guarantee that property will not qualify. Here are some key points: Applicants are required to purchase a property in Turkey which is worth a minimum of $250,000. This can be fulfilled either by purchasing a single property or multiple properties, with provisions of regulations. Applicants are required to keep the purchased property for at least 3 years. This commitment must be registered as an annotation on the Title Deed and/or on the Notarized Sales Contract. The value of the property will be determined by an official valuation survey done by the authorities that are announced by the Banking Supervision Board. The value of the property must be at least $250,000 in the valuation report. The Property purchase price must be paid to the seller via bank transfer to be supported by bank receipts that prove the transaction is made from the buyer’s account to the seller’s account. The officially declared value of the property must be minimum of $250.000 at the time of the Notarized Sales Contract and/or of its ownership transfer at the Land Registry Office Any such property within this scope must not be registered under and foreign real person’s name including the applicant’s spouse or children; properties that have been transferred by the Applicant’s spouse or children after 12.01.2017 are not within the scope of the regulation. In case the property is purchased with a mortgage loan or is subject to mortgage by any means, the mortgage value will be deducted from the value stated in the valuation survey and the remaining amount will be taken into consideration. The application will be sent to the Ministry of Internal Affairs, General Directorate of Population and Citizenship Affairs, Directorate of Foreigners Department, through the Ministry of Environments and Urbanization, Land Registry Office.
  24. Yes, they do request deposits. Tends to be 1 month, but can be up to 2. Note: Latest trend for foreign renters is minimum of 6 months to 1 year up front. Not everywhere, but don't be shocked if they ask.
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