Are Palestinians entitled to buy a property in Turkey?
• Can the Palestinian buy all kinds of real estate in Turkey?
• Is the Palestinian holder of the Syrian, Egyptian or Lebanese travel document entitled to own property in Turkey?
• What should be done to complete the ownership of Palestinians in Turkey?
We will answer these and other questions in this area. At the end of the article, the reader will be able to see a new episode of "Real Estate… Best Decision" by Mr. Abdullah Al-Hammad, CEO of Imtilak Real Estate, on the subject of the Palestinian ownership of real estate in Turkey.
Most of the Arab nationalities are entitled to own real estate in Turkey, including of course the Palestinian nationality campaign. Under the law of 2012, the Turkish government approved a new and more flexible legislation, which opened the door to the citizens of more than 129 different countries around the world to enter the Turkish real estate market, As well as most Arab nationalities.
Are Palestinian investors interested in the Turkish real estate market?
In 2017, Palestinian nationality entered the list of the first 20 foreign nationalities in Turkey; in January of 2018, the number of Palestinian-owned properties in Turkey increased in comparison to the same month of 2017. This indicates an increase in Palestinian interest in real estate investment in Turkey.
Palestinians are entitled to purchase real estate in Turkey without specifying the number of properties the Palestinian investor can own. Palestinians are entitled to own all types of real estate in Turkey including apartments, villas, shops, commercial offices, warehouses, hotels, and buildings. The lands in Turkey should not exceed 30 hectares, and the investor can find excellent opportunities to own lands of all kinds, such as farms and investment lands.
Legal documents that must be processed to complete the acquisition of the Palestinians in Turkey
The Palestinian investor, like others, needs to submit the following documents to complete the real estate ownership in Turkey:
1) Extract tax number.
2) Translation of the passport into Turkish.
3) Authentication of the passport translated by the notary public or through Turkish embassies and representations abroad.
4) Two personal photos.
5) Payment of property fees about 4% of the value of the property.
In addition, the Palestinian needs the approval of the Ministry of the Interior according to Turkish law. The transfer of ownership is carried out naturally within the tax department of the Palestinians holding the Palestinian passport (the passport of the Palestinian Authority), as well as for the Palestinian who holds the Jordanian passport completely and has the right to own property in Turkey.
A Palestinian carrying a Syrian travel document, a Lebanese travel document, or an Egyptian travel document may face difficulties in the process of transfer of ownership, and their requests are often denied because the staff of the Taboo Department considers these documents to be a substitute for the passport.
The Palestinian can assign another person to complete the real estate acquisition in Turkey. In this case, the agent must be employed by the notary public or through Turkish representations abroad.
Facilities offered to Palestinian investors in the Turkish real estate sector:
The Turkish government is working to provide various tax exemptions and concessions in the real estate sector and encourage the establishment of high-end real estate projects to meet the aspirations of the promising real estate market. The Turkish government, along with private sector companies, plays a leading role in encouraging investors to own property by facilitating their purchase of real estate In addition to granting the possibility of convenient installment for foreign investors, as well as the advantages granted by the Turkish state for those wishing to invest in the real estate field, exempt them from some taxes in part and in full, and granting them residency and Turkish citizenship excluded in the event of a certain value of a property owned by them.
To follow the previous episodes of the series "Real Estate… the best decision" you can see the following links: