IMPORTANT QUESTIONS :
What nationalities are permitted to purchase a property?
Turkey has a reciprocal agreement for the purchase of land and properties with the following countries; Denmark, Sweden, Norway, England, Germany, Austria, Switzerland, Belgium, Holland, Ireland, Spain, Italy, Canada, Luxembourg, Australia, France, Greece, Poland and some other African and South American states.
Do I have to be a resident or have a resident's visa to purchase?
No, To buy a property you do not have to have a Residents visa. This is only needed if you want to stay longer than three consecutive months, or wish to have a phone or buy a car. Then the three months tourist visa is not enough.
What do I have to check before purchasing?
Check that there are no rental agreements or mortgages on the property. That the seller has the legal right to sell the property and that they have a Tapu ( Title Deeds) for it. That the property is within a town's boundary, as foreigners are not permitted to buy within a rural Zone. If there is an agent how much commission "if any" is payable.
If I sell my property can I take the proceeds back to my country?
Yes.
Can I will my property to my beneficiaries?
You can make a Turkish Will and leave your property to your beneficiaries, but if you hadn't made a will, the property goes to your next of kin
Frequently Asked Questions.
· Do the Public Notaries carry out the sale procedure?
· Do I need to obtain visa to g oto Turkey for a short visit?
· What is the weather like?
· How do the locals treat foreigners who purchase there?
· Is it necessary to learn the language?
· How many British people live in the Mediterranean region?
· Are double taxation treaties in place?
· What additional costs are there in relation to the purchase?
· Is there a good range of banks and are they English speaking?
· Do I need a lawyer?
· What should I expect to pay in community fees?
· Like in the UK are the solicitors involved in property purchases?
· Are there any ongoing taxes?
· Which documents are required?
· What is the general buying process in Turkey?
· What is the average deposit required, and can I pay in stage payments?
· Are there any restrictions for foreigners purchasing in Turkey?
· Can I work in Turkey?
· Can I reside in Turkey as a British national?
· Are there many English speaking lawyers in Turkey?
· What about the healthcare in terms of the standard and costs?
· Office of the first economic counsellor, Turkish Embassy:
· Can I bring my house hold items to Turkey?
· What is the government system in the country?
· How much money can I take with me, when I leave Turkey?
· Can I bring a car to Turkey?
· If I move to Turkey, can I take my dog/cat with me?
· What about eating out?
· How does the general cost of living compare to the UK?
· What facilities are there on a typical development?
· Is social insurance coverage compulsory for foreign nationals in Turkey?
· Turkish Consulate General:
· What if I would like to renovate my property?
· Are families/children welcome?
· How safe is the country?
· What about furnishing my property?
· Will I have to pay tax for the money I could earn from the rentals?
· Can I rent out my property?
· What about paying for the energy and water supplies if my main home is not in urkey?
· Can I find properties with swimming pools, Turkish baths, saunas and other facilities in Turkey?
· Will I pay ‘Capital Gains Tax’ if I decide to sell my property?
· What about schools and colleges?
Q: Do the Public Notaries carry out the sale procedure?
A: Notaries are the lawyers most Turkish people use for such transactions. They are cheaper than the solicitors you can hire in Turkey, and they have set procedures for property purchases which are completely legal and secure. One thing you should know about the Notaries is there is 1,5% stamp duty to pay for whatever value you have out on the contract. For example, if you have made a contract for a 100.000£ worth of property, you would pay £1.500 as a stamp duty. Notaries normally charge around £100- £250 for their own fee. Public Notaries are the official witnesses who are the lawyers for both parties. Therefore hiring a solicitor will be a better option for you.
Q: Do I need to obtain visa to go to Turkey for a short visit?
A: British nationals are required to obtain visa for visiting Turkey. You don’t have to apply for visa for short visits to Turkey to the Turkish Embassy in UK. You’ll be able to obtain a ‘Multiple entry visa’ in the Airport or borders valid for 3 months. There is a £10 fee payable per person for this visa.
Q: What is the weather like?
A: Turkey has seasons similar to the UK but with much better temperatures. In winter, you’ll find the temperatures by the South coast ranging between 5 and 15 degrees, in spring it warms up to 25 degrees. The summer is usually dry and hot from May through to September peaking at 45 degrees, cooling again as we move into autumn back down from 25 to 15 degrees.
Q: How do the locals treat foreigners who purchase there?
A: You will find Turkish people extremely hospitable and friendly. Turkey has been a destination for British holiday makers since early eighties. Most people in the holiday resorts speak English and are very welcoming whether you make business with them or not.
Q: Is it necessary to learn the language?
A: No, but as with anywhere in the world, it always brings advantages.
Q: How many British people live in the Mediterranean region?
A: In 2003, there were about 2500 British people living around the Fethiye area, and with sales as high as they were in 2004, this figure has increased substantially. Away from costal areas, there are plenty of ex-pats in the main cities too.
Q: Are double taxation treaties in place?
A: Turkey is a signatory to a treaty for the prevention og double taxation with many countries of the world.
Q: What additional costs are there in relation to the purchase?
A: You will pay stamp duty, legal fees, wealth tax and purchase tax. The latter is just 3% (of the declared value at the time of deeds transfer) but sometimes split 50/50 with the purchaser, so that you pay 1,5% of the amount shown on the title deeds. Traditionally though it is the purchaser who pays the 3% for both parties.
Q: Is there a good range of banks and are they English speaking?
A: There are many banks where English is widely spoken, so no worries there. It is easy to open a bank account and you can have both Turkish and English accounts- your choice. You can transfer money from your UK account to the Turkish account and vice versa.
Q: Do I need a lawyer?
A: It is always easier with a lawyer to take care of formalities, but all the procedures related to the purchase will automathically be followed by the relevant authorities.
Q: What should I expect to pay in community fees?
A: This can vary from development to development. Your lawyer should look into this for you. Usually though, in complexes with around 50-80 houses with no pools, you expect to pay around £250 per year for maintenance of shared areas and gardeners, lighting, security etc. You should double this figure for the complexes with ‘shared pools’.
Q: Like in the UK are the solicitors involved in the property purchases?
A: Yes. As well as the Public Notaries, solicitors will handle the property purchase in Turkey. Although most Turkish people will choose Notaries, we recommend that you hire a solicitor for a secure purchase. Solicitors will direct you for the right way to go for each individual property.
Q: Are there any ongoing taxes?
A: State property tax (0,1% declared value), enviromental tax and wealth tax. However, these are relatively low and again your lawyer should be able to advise you.
Q: Which documents are required?
A: Your passport(s), which will be copied and translated into Turkish, and passport sized photographs. The Notary’s office works in conjunction with the title deeds office and the Aegean Army. The translated documents will be checked by the army to ensure there is no record of criminal intent or activity against Turkey, and that any property being purchased by a foreigner is not in the proximity to, or intended to be used for any military purposes. This can take up to 6 months.
Q: What is the general buying process in Turkey?
A: After paying the reservation fee, your lawyer should carry out the title deed checks. A contract will be drawn up between the seller and the purchaser. This will give details of the completion date, payment schedule and terms and conditions. When this is signed by all parties, the appropriate deposit is paid. You then apply for a security clearance to allow you to own a property in Turkey- this will often be applied for on your behalf by the developer or your solicitor. You can sign a Power of Attorney to conclude the necessary paperwork, if your circumstances require it.
Q: What is the average deposit required, and can I pay in stage payments?
A: You will normally pay a 10% reservation fee. Memoshome offers stage payments often with a degree of flexibility towards your own personal circumstances. This will be agreed at the time of the purchase.
Q: Are there any restrictions for foreigners purchasing in Turkey?
A: There are restrictions for some countries. Great Britain, Republic og Ireland nationals can purchase property in Turkey. Only in rural areas and military zones are the places where you can not purchase. In the developments on our boks and the website, there should not be any restrictions imposed.
Q: Can I work in Turkey?
A: You can apply to the Turkish Consulate in London for a work permit in Turkey. Your work permit will depend on your circumstances. Although you are allowed to purchase property in Turkey, there is a ‘Security Investigation’ to be carried out for every single foreign national. Security investigation is a step after you have decided on a property. Land Registry officials will send this to the authorities involved and we or your solicitor will need to chase the arrival. At the time of this application, they will need to see your passport as your identification and will keep a copy. One thing about the permission these days is it might take up to 6-8 months to arrive.
Q: Can I reside in Turkey as a British national?
A: If you would like to relocate to Turkey, Turkish Consulate in London is the place you should go. They usually issue a 1 year residency visa and you will then have to apply to the local immigration authorities for extending your visa. This extention usually is for two years after initial one year and renewable every two years. Consulate and immigration authorities in Turkey will check whether you have enough funds in your Bank, or you are receiving monthly income(such as your pension) to support yourselves in Turkey without needing to work. Any such application to Turkish Consulate general in London, should be applied for at least eight weeks prior to intended date of travelling.
Q: Are there many English speaking lawyers in Turkey?
A: For Turkey, and other emerging markets, you can find more English speaking lawyers in Istanbul, Izmir and Ankara and in the costal resorts such as Kusadasi, Bodrum, Altinkum, Fethiye.
Q: What about the healthcare in terms of the standard and costs?
A: The standard is generally very good. All foreigners have to pay for medical treatment and there are reciprocal private health plans available from the UK which will be accepted in the private hospitals. You can purchase a health insurance plan in Turkey at very good rates.
Q: Office of the first economic counsellor, Turkish Embassy:
A: 43 Belgrave Square, London, SW1X 8PA Tel: 020 7393 0202 turkish.emb@btclick.com
Q: Can I bring my house hold items to Turkey?
A: Household items can be brought to Turkey through a system called ‘Temporary Imports’ provided that the validity of the residence permit is no shorter than one year. In this case you pay a deposit and take them back if you decided to return back to your country.
Q: What is the government system in the country?
A: It is democratically elected as in the UK. Turkey is also one of the permanent members of NATO.
Q: How much money can I take with me, when I leave Turkey?
A: Each time you are leaving Turkey you can not take out more than 5000 US Dollars or an equivalent amount of other foreign currencies or Turkish Lira. However, there is no limit on the amount you can transfer by a Bank.
Q: Can I bring a car to Turkey?
A: If you are a tourist visa holder, then you can bring a car to Turkey for a maximum period of six months. If you are a residents visa holder and want to bring your car then you will be treated as if you are importing a car, and you’ll have to have to pay relevant taxes.
Q: If I move to Turkey, can I take my dog/cat with me?
A: You can bring your pets to Turkey with you as long as you carry ‘live animals health/vaccination certificates’ with you. However, there is a legal limitation on the number of live animals you can bring to Turkey. A person can bring, 1 cat, 1 dog, 1 poultry animal and 10 aquarium animals (such as fish) at the most. If you’d like to bring more than the allowed number, then you are advised to have someone else travelling with you.
Q: What about eating out?
A: Again, you will benefit from the relatively low prices. Being in a muslim country, you will often find pork and its associated products excluded from the menu, however, there is a wide choice of other meats, seafood and vegetables. As well as Turkish cuisine, you will find English, Italian and Indian restaurants quite commonplace. Eating out should normally cost you half what you will pay in the UK. There are some English restaurants in most holiday resorts which offer some pork related food should you wish to have any.
Q: How does the general cost of living compare to the UK?
A: Fresh produce is great value for money. You’ll find most items up to 50% cheaper than in the UK with electrical items being the most expensive.
Q: What facilities are there on a typical development?
A: Owing to the very pleasant summer weather, which can get rather hot at its height, a swimming pool-communal, private or both- is the main pre-requisite. You will find some offering tennis courts, Turkish baths, spa rooms and easy access to golf.
Q: Is social insurance coverage compulsory for foreign nationals in Turkey?
A: Short-term risk coverage (Health, maternity, occupational diseases) by the associated scheme is compulsory for all foreign nationals working im Turkey. On the other hand foreign nationals can voluntarily register to social insurance intuitions fort he long-term risk coverage( Old age, invalidity, morality). However, citizens of the countries with reciprocity agreements in the power of the law have been made are to be covered ( Compulsory) by the relevant social insurance scheme. These countries are United Kingdom, Germany, Nederlands, Belgium, Austria, Switzerland, France, Sweden, Libya, Denmark, Norway and Turkish republic of Northern Cyprus.
Q: Turkish Consulate General:
A: Rutland Lodge, Rutland Gardens, Knights Bridge, LONDON 020 7591 6900
turkishconsulate@btconnect.com
Q: What if I would like to renovate my property?
A: Memoshome have teams of builders and competitive prices for renovating, painting and decorating your property. We have many happy customers, and we will happily pass the contact numbers and email for references.
Q: Are families/children welcome?
A: Most definitely. There is a family orientated culture in Turkey and children are welcome almost everywhere.
Q: How safe is the country?
A: Turkey is a very safe country with a relatively low crime rate.
Q: What about furnishing my property?
A: Memoshome offers furniture packs. Alternatively, there is a wide range of furniture shops for you to explore. You should allow anything from £5000- £10000 to furnish an average sized property up to show house standard.
Q: Will I have to pay tax for the money I could earn from the rentals?
A: Yes. As in UK the Turkish government will expect you to pay some tax from your earnings from the property you rent. You will have to register with the tax office at the time of title transfer. You will have to find an accountant who could manage your yearly accounts and do your tax returns. Some people choose to charge their clients in the UK. As there is a treaty for preventing double taxation between two countries you will only pay the tax once. You should consult your accountant for this issue.
Q: Can I rent out my property?
A: Yes. The main season is from April until October, but you would still be able to rent out over the winter at lower rates. At the height at the summer you can expect a more than reasonable return.
Q: What about paying for the energy and water supplies if my main home is not in Turkey?
A: The easiest way to pay for your electricity is by direct debit via a bank in Turkey, similar to the UK. Currently all water bills are paid directly to the local Council office, however, arrangements can be made with Memoshome regarding payment of utility bills
Q: Can I find properties with swimming pools, Turkish baths, saunas and other facilities in Turkey?
A: Owing to the very pleasant summer weather, which can get rather hot at its height, a swimming pool- communal, private or both- is the main pre-requisite. We have many properties offering tennis courts, Turkish baths, spa rooms and easy access to golf.
Q: Will I pay ‘Capital Gains Tax’ if I decide to sell my property?
A: If you decide to sell your property any time in the first 4 years, you will have to pay ‘Capital Gains Tax’ in Turkey. You will be exempt from this tax after the first 4 years. The amount of the tax will be decided at a percentage of the profit you make between the cost (what you declared when you first your property) and the sale price (what you declare at the Land Registry Office when you sell your property).
Q: What about schools and colleges?
A: As a resident, you can send your children to local government or private schools. Both offer a good standard of education. The private schools are international and accommodate pupils from all over the world.
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