Who Can Buy Property in Turkey?
As a rising value worldwide, Turkey has maintained its success on investment advantages throughout tourism, natural beauties, multicultural historical values, developments and attempts spreading all over the country. From this aspect, scaling up interest of foreign people has been an indispensable fact day by day in terms of different purposes. No matter what your planning is of a heaven-like country, property investment categorized on land, office, shop and residential units show up as a must. However, reciprocity can differ from country to country and there can be some restrictions against certain nationalities. Therefore, checking arrangements and regulations implemented by the Turkish Republic takes high priority in the searching phase of your ideal investment.
According to current property law implemented in May 2012 when a great number of restrictions were lifted so that 129 countries become eligible to get property from Turkish real estate. However, some rules remain as they were such as the fact that it is not allowed to purchase a property by foreigners if the ratio of the foreign property passes over %10 of Turkish town beside a foreigner is not able to get more than 30 acres property, which is as equal as 300,000 square meters in total, this size can be enlarged up to 60 acres by the approval of Interior Affairs of Turkey as well.
These countries are;
Argentina
Australia
Azerbaijan
Belgium
Belize
Benin
Bosnia and Herzegovina
Brazil
Bulgaria
Burkina Faso
Burundi
Chad
China
Croatia
Colombia
Canada
Denmark
Dominican Republic
Estonia
Finland
France
Gabon
Guinea
Germany
Georgia
Holland
India
Ireland
Iran
Iraq
Italy
Kenya
Kosovo
Kuwait
Kyrgyzstan
Kazakhstan
Libya
Lebanon
Luxembourg
Mali
Moldova
Monaco
Namibia
New Zealand
Niger
Nigeria Norway
Northern Cyprus
Palestine
Pakistan
Poland
Portugal
Peru
Republic of Cote D’lvoire
Romania
South Africa
South Korea
Spain
Sweden
Switzerland
Serbia
Slovakia
Saudi Arabia
The United Arab Emirates
Turkmenistan
The Gambia
United States of America
United Kingdom
Uzbekistan
Yemen
However, some specific regions are restricted to adjacent countries. For instance, Greek citizens are not allowed to buy property from Western and Southern coast ways of Turkey while Russian and Ukrainian citizens can not buy property types from the shores of the Black Sea.
On the other hand, some countries are completely deprived of owning a property from all over Turkey such as;
Syria
Armenia
North Korea
Cuba
Southern Cyprus
Moreover, some countries are obliged to get approval from Interior Affairs of Turkey such as;
India
Iran
China
Palestine
Besides the approval of the Interior Affairs of Turkey, Iraq citizens have to get additional approval from the Foreign Affairs of Turkey at the same time. Apart from approval issue, a few countries don’t have rights to own land property from Turkey such as;
Morocco
Egypt
Latvia
Afghanistan (can get other types of property by an approval) Albania (can get only residential and office units)
For some countries, they can only invest in a real estate, other property types are not subjected to the preference such as;
Israel
Fiji
Jordan
East Timor
To get more detailed information related to nationality issues regarding the purchasing process, please don’t hesitate to contact us how to manage your problematic situation to come over it in case of your willing to invest in a type of property.