FAQ

Frequently Asked Questions

Can I purchase more than one property? A: Yes. You can purchase as many properties as you want.

If I purchase property, how do I know when to make my payments? A: This will be detailed in the sale agreement.

Do I need to pay £10/€10 every time I enter the country? A: Upon entering Turkey, UK citizens will need to pay £10 and Europeans €10 per person for a visa. Even though this visa is valid for 3 months, it will be a single entry visa, which means that you will have to pay £10/€10 each time you enter Turkey. However, if you ask for a multiple entry visa (same price of £10/€10), then when you next return to Turkey, if it is within the three month period, you will not have to pay the visa fee again.

I want to stay in Turkey long term. Is this possible? A: Yes, it is possible. Non Turkish citizens would need to apply for a residency visa. We can assist clients with the process. Fees would have to be paid directly to the local government authorities for the permit.

If I own a property in Turkey, is there a limit to the amount of times I can come to Turkey to use it? A: No, there is no limit.

How long does it take until the property will be in my name? A: Presently it takes a number of months for the Title Deeds to come through. When this happens, the property will be in the client’s name. However, it is expected that this process will soon be changed and that Title Deeds will be transferred in a much shorter period of time.
Some people wait along time for their Title Deeds, this is unnecessary - it should only take about 4 months, we can advise you on how to make sure your Title Deeds have been applied for and that they will be received on time.

Can the Title Deed have more than one name on it? A: Yes, it can have as many names as you wish on it. You will need passport copies, full names and addresses of all those whose names are to appear on the Title Deeds.

When I die, will the Turkish Government have any claim to my property? A: No, it won't have any claim. The same rules apply here as in English law; in that the husband/wife and/or children would inherit the property.

Are properties freehold or leasehold? A: They are 100% freehold.

What is the difference between a licensed and non-licensed estate agent?
The question speaks for itself. The licensed estate agent pay tax to the government, they have a tax number and are certified by the Turkish Government. A non-licensed agent usually operates from a bar or a restaurant. It is advisable to use a licensed estate agent and always ask to see certificates.

Taxes
Yes the dreaded taxes!!

Property tax

Annual real estate tax is charged at rates varying between 0.1% and 0.3% (depending on the nature of the property) on the officially assessed value of Turkish real estate held on 1 January each year. This tax is payable in two equal installments on 31 May and 30 November each year.

Furthermore, Municipality Tax is levied for Environmental Cleaning if buildings are used for housing or as a place of business (among other purposes). This tax is charged at certain fixed amounts that change annually and depend on the location and nature of the property. (This does not amount to very much)

Property transfer tax

Stamp duty of 0.75% is charged on the disposal of Turkish real estate provided that a sale and purchase agreement has been executed. Both parties to a transaction are jointly liable for the relevant stamp duty. However, in cases where one party is Turkish-resident and the other party is not, the Turkish resident usually declares and pays the stamp duty.

In addition, a ‘title deed charge’ of 1.5% of the value of the real estate will be payable by both the vendor and the purchaser on registration of the transaction at the Land Registry (the total charge to vendor and purchaser is therefore 3% of the real estate value).

Capital gains

Capital gains on the disposal of real estate are subject to corporation tax at 30% regardless of the residency of the vendor. However Turkey does offer some incentives for property investors, if you sell your property after 4 years (or 5 years if you bought your property since February 2007) there is no capital gains tax to be paid. Property that is sold before that period is over will be charged at the standard rate of income tax - this is calculated on the difference between the buying and selling price.