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Sell Property In Turkey

Foreign individuals or companies who own real estate in Turkey may rent, sell or establish charges on the relevant property.

It is possible to make a transaction regarding the sale with two basic contracts which are sales contracts and real estate sales promise contracts. According to Turkish Law, the sale of real estate can be completed by the attendance of the seller and the buyer at the the Land Registry Office. For the transfer of ownership and completion of the purchase agreement, the transfer should be carried out by the relevant land registry officer.

In addition, before the sale of the real estate, the seller and the buyer can sign a “real estate sales promissory contract” which is a type of preliminary agreement. In order for this agreement to be binding, it must be prepared by a notary public and signed in the presence of a notary public and annotated to the land registry in order to be valid against the claims made by third parties.

Legal Representation

The seller or seller’s representative may carry-out the sale of the real estate. However, if the transactions are to be carried out by a power of attorney, it must be prepared by and signed before the notary public.

As a rule, the powers of attorney issued abroad with an “Apostille” annotation in accordance with the Hague Convention of 1961, and the power of attorneys issued in a foreign country with the signature and authority of the foreign country notary which is approved by the Turkish Consulate in that country, are valid. However, in order for a power of attorney issued in a foreign country to be valid for transactions involving title deeds, it must be a power of attorney prepared by a Turkish consulate.

Taxes, Fees And Expenses

Every real estate acquisition is subject to some transaction taxes and costs such as “Title Deed Fee”, “Capital Gains Tax”, “Stamp Duty” and “Notary Charges”.

Gains on the disposal of real estate in Turkey as a result of the increase in value is taxed as income. It should not be forgotten that in the case of a real estate sale made by a foreign individual, if the real estate is disposed of less than 5 years following the purchase of it, the earnings obtained will be subject to income tax. However, earnings from real estate sold at the end of the 5-year holding period will not be subject to income tax.

The income obtained may be subject to different taxes and taxation conditions depending on the liability of the seller. In other words, if the transfer is carried out by a company: corporate tax; if it is carried out by an individual: income tax will be applied.

Turkey has double taxation prevention agreements with certain countries. In these agreements, it is regulated in which of the countries of residence and origin the income will be taxed or how the right to taxation will be shared between these two countries.

If there is an agreement to prevent double taxation between Turkey and the country of residence of foreign individuals who have capital gains, the provisions of the agreement will be applied. However, the provisions of the Turkish Income Tax Law will be applied in the absence of such an agreement.

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Client testimonials

"Nihan, was extremely professional, very responsive and informative, she explained all processes step by step which were very easy to understand and follow, which gave me full confidence in her ability to find solutions for the sale of my property .

Nihan, was very understanding and approachable and responded very quickly to my calls and emails concerning the difficulties I was having over the sale of my property.

Her costs are were reasonable for the amount of work she completed for me, she explained her fees from the beginning of her service clearly and there was no hidden costs at the completion of the sale .She also removed all of the stress from the transaction .

I was in a very difficult situation before I met Nihan and I doubt that I would have able to sell my property without her assistance . She was such a pleasure to meet and work with and I cannot thank her enough for her support .

I would recommend Nihan to anyone who needs legal advice and I cannot thank her enough for her professionalism, she certainly knows her stuff!"

Victoria Brooks, Bodrum (Jun 04, 2019)

Property Sale

Available in the following locations: Ankara, Antalya, Aydın, Bodrum, Istanbul, Izmir, Kocaeli , Kusadasi, Manisa , Mersin, Mugla.

* If your local town is not listed, a lawyer from our nearest office will be happy to assist you.

Location
Who is this service for

1Who is this service for?

Selling property abroad may initially appear to be a safe process, however it is important to ensure that you obtain the full proceeds you are due and that you are not ignoring any continuing liabilities that could cause problems in the future

2What does this service consist of?

  • Drafting of a pre-purchase contract to Protect the Sale
  • Review of the title deeds to ensure that all documentation is in order
  • Communication with the legal representatives of the buyer
  • Attendance at the office of the notary for the signing
  • Liaison with the Notary to ensure all necessary information is conveyed
  • Ensure payment of purchase monies to your nominated account
  • Manage the payment and reclaim of any taxes upon a successful sale
Benefits
Requirements

3Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include:

  • Verification of the regulatory status of your professional.
  • Fees as recommended by the Local Professional Body
  • Fees specified in advance and legally guaranteed.
  • Service levels agreed in advance and guaranteed.
  • All professionals must hold professional indemnity insurance.
  • Professionals' proficiency in English monitored.
  • Continuous quality controls and reviews.

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