In the past six years, Turkey has become a destination for many Arab and foreign investors, and the real estate sector has recorded a remarkable development in recent times. After the decision issued in 2012, the foreigner was able to own a property in Turkey, and that all procedures were completed in one day, by implementing five basic steps to be able to own any property, so what are these steps:
The first step is the presence of the buyer inside Turkish territory to sign the property purchase contract, or to send an official agent on his behalf.
Second, obtaining a tax number, which is a number given to every foreigner to facilitate his transactions, is extracted from the Tax Department.
Third, opening a bank account in a Turkish bank, in order for the amount to be transferred from the country of the resident to the Turkish bank.
Fourth, prepare a passport copy translated into Turkish and certified by a notary public.
Fifthly and finally, that the seller assigns the property to the buyer, and that the buyer receives the keys to the property and the title deed.
If the property is under construction, the buyer receives the title deed after the completion of construction.
Regarding the property ownership tax in Turkey, estimated at 4% of the property value, 2% on the seller and the other half on the buyer, and after the buyer receives the title deed, he is entitled to obtain a real estate residence for a period of one to three years.