Basic Steps > How are FDI and foreign companies treated by TAPU Offices?
Double checking the property
Preparing a draft contract
Having the draft contract translated
Having the contracts notarised
Payment terms of the contract
Application to the TAPU Office
Documents asked by the TAPU Office
Forbidden zones and size limitation
How are FDI and foreign companies treated by TAPU Offices?
Issuance of a new TAPU by the Office
Declaration of acquisition to the local government
FDI Companies
Companies may freely acquire real estate or limited rights in rem through a legal entity established or participated in Turkey by foreign investors provided that such acquisitions are permitted for Turkish citizens.
Foreign Companies
Foreign real persons and trading companies having legal personality established in foreign countries according to the laws of these countries can acquire real estate in Turkey on the conditions of being reciprocal and complying with legal restrictions. In implementation of reciprocity principle, it is essential that real estate acquisition rights given by a foreign country to its own citizens and to trading companies established in foreign countries according to the laws of these countries, are also given to the citizens and trading companies of the Republic of Turkey.
The real property purchase application of such company to local Land Registry Offices is forwarded to General Directorate of TAPU (The Land Registry and Cadastre Office) for reciprocity control. General Directorate double checks the application from the Ministry of Foreign Affairs as the existence of reciprocity between our country and a foreign country in terms of trading companies, is determined by Ministry of Foreign Affairs.
After the reciprocity confirmation of aforementioned Ministry and response of the military post stating the subject real estate is out of military forbidden zones and security zones the company then becomes eligible for buying the property.
Trading companies having legal personality established in foreign countries according to the laws of these countries have to submit an officially stamped authorization document during the registration.
Foreign commercial companies which are legal entities can buy property provided that they operate pursuant to the special laws such as the Tourism Encouragement Law, the Oil/Petroleum Law, the Industrial Zones Law, etc. In addition, foreign legal entities other than the above mentioned commercial companies, such as foreign charities, foreign foundations and foreign societies, etc. cannot buy property in Turkey.
For more information please visit
www.tkgm.gov.tr