The foreigner or Turkish citizen who sells his real estate at a price higher than the price determined by the government within 5 years is obliged to pay Appreciation Gains Tax. However the amount of tax, change depends on the property's price and how much more than limited stated by the Government.
APPRECIATION
GAINS TAX
POWER OF ATTORNEY TRANSACTIONS ON LAND
REGISTRY OFFICE
According to the decision given by the Head of the Land Registry Department, it is stated that as of 01.08.2023, the original power of attorney will no longer be requested for the transactions to be carried out by the lawyers in the land registry offices and the power of attorney samples submitted by the lawyers with the approval of "true copy of original" will be accepted.
For property residence permit applications, which are the first application, the immigration administration conducts an interview with foreigners.
In addition, after the application, the immigration administration visit to the property and checks it. For this reason, foreingers applying for property residence permit should not rent their property.
If it is determined that someone else is living in the property, residence applications will be rejected by immigration administration.
PROPERTY RESIDENCE
PERMIT APPLICATION
PROPERTY
RESIDENCE
As it is known, in applications for property residence permit, the Directorate General of Migration Management has announced "restricted neighborhoods." According to the latest practices of the Directorate General of Migration Management, in these areas, if a foreigner has purchased real estate and received title deed or signed a notarized preliminary sales agreement before the date of restriction, they still have the right to apply even after the date of restriction.
Turkish Citizens who have been residing outside of Turkey for more than six months.
Foreigners who do not have a residence permit in Turkey which have been abroad for more than six months in the last one year.
Are exempt from paying VAT for the first delivery of residential and business real estate, provied that the amount from abroad in foreign currency.