Questions

Today, almost all foreign citizens can get a mortgage from a Turkish bank.

If you have chosen real estate in Turkey, and all you have to do is sign the documents and pay the seller, but you do not have the required amount of money, our company will help you get a mortgage from any bank and prepare all the documents.

After contacting a Turkish bank and agreeing on all the terms and conditions, you need to fill in a form, then the bank's employees will begin the procedure for obtaining a mortgage, namely:

• the bank sends an appraiser to the lending facility to assess the real estate
• the bank will issue the result of the appraised value within 2-5 days
• after the assessment, the bank issues a guarantee letter to the borrower on the issuance of a loan.

When you have a guarantee letter, you need to pay the bank fee for issuing a mortgage.

Bear in mind that today only Kuveyt Turk Bank provides mortgages in foreign currencies: euro, dollar, and Turkish lira.

The loan interest rate for 60 months is*:

• in euro currency - 0.46% monthly (5.52% annually)
• in dollar currency - 0.51 monthly (6.12 annually)
• in Turkish lira - 1.11% monthly (13.32 annually)

*Interest rate may vary depending on the duration of the loan. Loan amount - 50% of the appraised value!

List of documents for obtaining a loan

Copy of the TAPU (Property Ownership Certificate) of the property being purchased

Photocopy of a passport certified by a notary

Salary certificate validated by the employer

Credit history from the bank

Ownership documents in your home country

Inheritance in Turkey is regulated by Turkish law. The legal heirs of the first stage are blood relatives (1st line of kinship), namely: the spouse (wife) and children. Adopted children have equal rights as natural children. Under the law of the civil code of the Republic of Turkey, there is a certain table of inheritance, where the articles of legal inheritance are stipulated, namely:

1. If there is no spouse, the heirs of the Class-1 are the children of the deceased. When it comes to each of their shares, all children will have equal shares. In the absence of a spouse, children, grandchildren, and parents the inheritance is divided among other relatives according to the degree of kinship.
2. Children born out of wedlock also have the right to inheritance on the same basis as legitimate children, provided that they are recognised by the parents.
3. If the deceased has a spouse, then, in the absence of other heirs, all property passes to him (her). If there are other heirs, then the inheritance is distributed among all the heirs.
4. Divorced spouses and brides (grooms) do not have the right to claim inheritance.
5. Adopted children have the same rights as natural children.
6. If the deceased has no heirs, all property goes to the state.

Inheritance of real estate in Turkey is executed under Turkish law and is regulated by the Principle of Reciprocity. Based on the decision of the Cabinet of Ministers of Turkey No. 2/13394 of 05/29/1940, the same rules apply to foreign citizens in Turkey as to Turkish citizens in other countries. To avoid inheritance issues under Turkish law, you can make a will during your lifetime. It is best to prepare a will with a Turkish notary. However, you can also write a will in any other country that participates in and observes the Hague Convention of 1961 and then certify this will with an Apostille.

There are several ways to prepare a will:

• Written will (Yazılı Vasiyetname),
• Oral will (Sözlü Vasiyetname),
• Official will (Resmi Vasiyetname)

The most appropriate and common type of will is an official will, which is prepared under Turkish law by a notary.

The cost of a will varies and depends on several factors. The average fee for the preparation of a will is approximately 500 TL.

To register ownership of the real estate in Turkey in your name, you will need the following documents:

• international passport
• tax number obtained in Turkey
• photos 3x4

The cost of TAPU registration directly depends on the appraisal (cadastral) value of the object. The appraisal is provided by the TAPU Cadastral Office, authorised to carry out all real estate transactions. A property tax in Turkey is 4% of the cadastral value. However, in 2018 an amendment was made to the tax legislation, and the tax was reduced to 3%. This "discount" was valid until March 31, 2019. There are also associated costs when applying for TAPU, namely:

• payment of the cadastral fee will be about 100 euros
• services of a sworn translator -  about 500 Turkish lira

After registration of TAPU, you will need to issue additional documents related to the acquisition of real estate, namely:

• registration of a technical passport, called "Iskan" in Turkey (the cost depends on the residential building, location, etc.)
• registration of meters for electricity and water supply in your name

You will also need to pay an annual property tax, 0.2% of the cadastral value of the property.

Health insurance is a crucial issue for many. After all, when moving to another country, people are concerned about their health and want to be sure that they will receive medical assistance in case of an emergency. However, you have nothing to worry about because any medical institution in Turkey will accept you and provide the necessary medical help. Although you should bear in mind that the cost will be much higher if you do not have medical insurance.

There are several types of health insurance:

• private medical insurance. Its cost varies depending on your age and the amount of insurance coverage. The basic insurance for people under 35 will start at 250 Turkish lira (about $50) per year.
• GSS (Genel Sağlık Sigortası) government insurance, which you can also take out. The cost of such insurance will be about 485 Turkish liras per month.

Registration of TAPU in Turkey is possible for several people. You can register property in your relative or friend's name in any ratio of equity participation. The maximum number of property owners can reach up to 10 people. The number of owners does not affect the cost of registration. However, you should be aware that subsequent transactions with the property can only be conducted with the permission of all the owners listed in TAPU.

Yes, today most foreign citizens can get a loan from a Turkish bank.

If you have chosen your dream home and all you have to do is sign the documents and pay the seller, but you do not have the required amount of money, our company will help you get a loan from any bank and prepares all the documents. After contacting a Turkish bank and agreeing on all the terms and conditions, you will need to fill out a form, then the bank's employees will begin the procedure for obtaining a loan, namely:

• the bank sends an appraiser to the lending facility to assess the real estate
• the bank will issue the result of the appraised value within 2-5 days
• after the assessment, the bank issues a letter of guarantee to the borrower on the issuance of a loan
• when you have a guarantee letter, you need to pay the bank fee for issuing a loan

All documents must be translated into Turkish.

One of the advantages of purchasing real estate in Turkey is the opportunity to acquire a residence permit for the owner of the property and his immediate family. Owning real estate in Turkey, you can get a residence permit for up to two years and later extend it. Also, a residence permit can be acquired by:

• spouse of the property owner
• children of the property owner
• property owner's parents

To acquire a residence permit for your immediate family, you need to provide an apostilled document confirming your relationship.

Documents required for obtaining a residence permit:

• copy of TAPU
• passport, tax number
• insurance for the period of residence permit
• photos 3x4
• completed application form on the official website e-ikamet.goc.gov.tr ​​(various language options are available)

Yes, you can acquire citizenship in return for investment in real estate property in Turkey. Since 2018, the rules for obtaining citizenship have changed and become more flexible. Here are the main ways of obtaining citizenship in sunny Turkey:

• purchasing real estate in Turkey worth $250,000 or more gives you the right to acquire citizenship immediately by submitting all the necessary documents.
• if the value of your property is under $250,000, you can also acquire citizenship by permanently residing in Turkey for five years in your apartment
• bank deposit of $500,000 for at least three years can serve as the basis for acquiring citizenship
• if you own a business and can provide jobs to 50 Turkish citizens, you can also acquire Turkish citizenship
• marriage with a Turkish citizen remains an invariable condition to acquire citizenship. Having lived more than three years in a legal marriage with a Turkish citizen, you also have the right to obtain citizenship.