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 put on the contract. For example, if you have made a contract for a £100,000 worth of property, you would pay £1,500 as stamp duty. Notaries normally charge around £100-£250 for their own fee. Public notaries are only the official witnesses for both parties. Therefore hiring a solicitor will be a better option for you.
A: European nationals are required to obtain a visa for visiting Turkey. You will be able to obtain a “Multiple entry visa” on-line or at the Airport or borders valid for an unlimited number of stays up to a total of 90 days in any 180 day period. There is a $20 fee payable per person for this visa.
A: Turkey has seasons similar to Western Europe but with much better temperatures. In winter, you’ll find the temperatures on 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 40 degrees, cooling again as we move into autumn back down from 25 to 15 degrees.
A: You will find Turkish people extremely hospitable and friendly. Turkey has been a destination for British and Irish holiday makers since the early eighties. Most people in the holiday resorts speak English and are very welcoming whether you make business with them or not.
A: No but, as with anywhere in the world, it always brings advantages.
A: In 2011, there were about 11,500 British people living around the Coastal areas and with sales expected to be steady throughout 2012, this figure should increase substantially. Away from the coastal areas, there are plenty of ex-pats in the main cities too.
A: Turkey is a signatory to a treaty for the prevention of double taxation with many countries of the world.
A: You will pay stamp duty, legal fees and property transfer tax. The latter is 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.
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 monies freely and easily, without limit, from your European account to the Turkish one and vice versa.
A: Your lawyer should carry out pre-completion checks. Following this, you (or your Power of Attorney) will sign a deed of transfer in front of an officer at the Land Registry, who then records you as the official owner of the property. The property tax is paid at this stage ( 4% of declared purchase value). We should remind you that most vendors will want to complete within a month for resale properties.
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 can expect to pay around £200 per year for maintenance of shared areas and gardeners, lighting, security etc. You should double this figure for complexes with shared pools.
Q: Like in the UK are the solicitors involved in 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 good solicitor for a secure purchase. Solicitors will direct you in the right way for each individual property.
A: State property tax (at 0.1% declared value) , environmental tax and wealth tax. However, these are relatively low and again your lawyer should be able to advise you.
A: Your passport(s) which will be copied and translated into Turkish and 6 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 proximity to or intended to be used for any military purposes. This can take up to 6 months but at the moment is taking 4-6 weeks.
Q:What is the general buying process in Turkey?
A: After paying the reservation fee, your lawyer should carry out the title deeds checks. A contract will be drawn up between the seller and 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 enable a representative to conclude the necessary paperwork, if your circumstances require it.
A: Whether it’s a new or a resale property you are buying, we suggest that you hire a Lawyer in Turkey. Cost of this starts from £250. Most solicitors will have to use an authorised translator to prepare these documents in your language. Cost of a translator is £60-£100. At the first stage these are the only extra moneys you’ll have to spend. The purchase tax will become due when your military permission arrives from the authorities. This might take around 4-6 weeks these days. This tax amount is 4% of the declared value of your property. There will be other small fees to be paid to the local council and this is around £100.
Q: How much I should expect to pay as deposit for a resale property and when is the balance expected?
A: At the time of “reservation contract” the “Deposit Amount” is usually 10%. In some cases this might have to go up to 20%. Vendors usually will understand that it will take few weeks for a foreign national to arrange the finances back in their country and therefore usually allow around 4 weeks for completion.
Q: On a new development, what is the average deposit required and can I pay in stage payments?
A: You will normally pay a £2,000 reservation fee and 30-35% as a deposit within four weeks. Most developers offer stage payments with a degree of flexibility towards your own personal circumstances. This will be agreed at the time of purchase.
A: Yes – most properties that are sold in Turkey are what you in the UK would refer to as ‘freehold’. There are some properties sold on “leasehold” but you should be made aware of that if ever you were offered one.
A: There are restrictions for some countries. Great Britain and Republic of Ireland nationals can purchase property in Turkey. Only in rural areas and military zones are there places where you cannot purchase. In most of the coastal developments, there should not be any restrictions imposed.
A: You can apply to the Turkish Consulate in your home country 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. The Security investigation is a step after you decide on a property. Land Registry officials will send this to the authorities involved and your agent 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 that it might take up to 3 months to arrive.
A: If you would like to relocate to Turkey, The Turkish Consulate in your home country is the place you should contact. They usually issue a 1 year residency visa and you will have then apply to local immigration authorities for extending your visa. This extension usually is for two years after the initial 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. You should make any such application to The Turkish Consulate general in your home country at least eight weeks prior to your intended date of traveling.
Q: Are there many English speaking lawyers in Turkey?
A: For Turkey as in other emerging markets, you can find more English speaking lawyers in large areas such as Istanbul, Izmir and Ankara and in the costal resorts such as Kusadasi, Bodrum, Altinkum and Fethiye.
Q: What about 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 most Western European countries which will be accepted in the private hospitals. You can purchase a health insurance plan in Turkey at very good rates. After a year of residence you may also enrol in the Turkish National Insurance scheme.
A: 43 Belgrave Square, London, SW1X 8PA Tel: 020 7393 0202 – e-mail: email@example.com
A: According to the foreign Direct Investment Law, unless stipulated by international agreements and other special laws, foreign investors are free to make investments in Turkey and shall be subject to equal treatment with the local investors. The Turkish Commerce Law No 6762 determines the basics of establishment of companies and other commercial issues such as definition of company types capital requirements, registry etc. We can prepare more information on this issue if are interested in making business in Turkey and direct you to other useful authorities.
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 your items back if you decide to return back to your country.
A: It is democratically elected as in Europe. Turkey is also one of the five permanent members of NATO and a member of the G20.
A: Each time you are leaving Turkey, you can not take out more than 5,000 US Dollars in cash or equivalent amount of other foreign currencies or Turkish Lira. However there is no limit on the monies you can transfer through a Bank.
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 pay the 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 the 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.
A: Again, you will benefit from the relatively low prices. Being 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 would 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.
A: Fresh produce is great value for money. You’ll find most items up to 60% cheaper than in the UK with electronic items being the most expensive.
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 in Turkey. On the other hand foreign nationals can voluntarily register to social insurance intuitions for the long-term risk coverage (Old age, invalidity, mortality). However, citizens of the countries where reciprocity agreements in the power of law have been made are to be covered (Compulsory) by the relevant social insurance scheme. These countries are United Kingdom, Germany, Netherlands, Belgium, Austria, Switzerland, France, Sweden, Libya, Denmark, Norway and Turkish Republic of Northern Cyprus.
A: Rutland Lodge, Rutland Gardens, Knights Bridge, LONDON Tel: 020 7591 6900 E-mail: firstname.lastname@example.org
A: There are teams of builders and competitive prices for renovating, painting and decorating your property. We have access to many local craftsmen and can give you the names of their previous customers as references.
Q: What about furnishing my property?
A: There is a wide range of furniture shops for you to explore. You should allow anything from 3,500 EUR- 8,000 EUR to fully furnish an average sized property up to show house standard.
Q: Can I rent out my property?
A: Yes. The main season is from April to October but you will still be able to rent it out over the winter at lower rates. At the height of the summer, you can expect a more than reasonable return. There are good local villa rental services that will offer you the best packages and put the maximum effort in to advertising and renting your holiday property to generally UK and Ireland holiday makers.
Q: What about paying for 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 way you do at home. Currently all water bills are paid direct to the local Belediye (Council) office, however, arrangements can often be made with The Foreign Citizens Advice Centre regarding payment of all of your 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. There are many properties offering tennis courts, Turkish baths, spa rooms and easy access to golf courses.
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 first five years, you will have to pay “Capital Gains Tax” in Turkey. You will be exempt from this tax after the first 5 years. The amount of the tax will be calculated as a percentage of the profit you make between the cost (what you declared when you first bought 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 free of charge to local government schools. You can opt to pay for your child’s education at one of the many private schools. Both offer a good standard of education. The private schools are international and accommodate pupils from all over the world.
The Turkish Embassy and Turkish Consulate General in your home country are the authorities that you should get in touch with for more detailed information.