Turkey Real Estate Market - Syrians Ownership in Turkey
After the bloody events in Syria, Syrian investors began looking for new investment alternatives. As the situation in Syria fluctuated, Real Estate investment in Turkey was one of the safest sectors for Syrian investors wishing to own real estate in Turkey.
Until this day, there is no law or explicit declaration from the Turkish government prevents the Syrian citizen from owning a property in Turkey, since Syria is not excluded from the law of the ownership of foreigners in Turkey issued by the Turkish Parliament in September 2012, but there is an old and undeclared recommendation prohibiting The Syrians have to own a real estate for political reasons, and the matter increased after the wave of large exodus of Syrians to Turkey, but there are nevertheless several ways for Syrians to own a property in Turkey that will be explained in this article.
- The First Case of Syrians Ownership in Turkey:
Which is the most common and most popular, through the establishment of a company in Turkey, which is considered by the Turkish law as a legal person entitled to own real estate in Turkey, so that the volume of the property commensurate with the volume and capital of the company, whether the establishment of a company or the ownership of property in Turkey gives the Syrian a residence permit for a one-year renewable year. Statistics show that in the middle of this year, the Syrians established more than %30 of all companies established in Turkey by foreigners.
According to the law in Turkey, you have to establish a company by your name and it does not require to have a Turkish or other partner. This means that you can, on your own or with your family members, open a company, and through the company you can own real estate in Turkey in the name of the company, you can own real estate in Turkey and you are also entitled to engage in any commercial, industrial or agricultural activity without any condition or restriction.
Establishing a company in Turkey with the aim of owning apartments for sale in Turkey does not take more than two days, you get the tax number and the commercial register and you can then open a bank account.
The Official Papers Required to Establish a Company in Turkey That Should Be Prepared by a Law Firm:
- Company establishment application form, 2. Power of attorney, 3. Statement of incorporation declaration, 4. Memorandum of establishment, 5. Identification of personal identity, 6. Photographs of passport and personal identity translated into Turkish by an authorized translator.
The signature statement is also required, certified copies of foreign documents, bank receipts, room registration statement, undertaking if the partner is a person, a foreigner, a certified translation of his / her passport at authorized translator and tax reference document.
The cost of establishing a company in Turkey Lawyer's fees, fees and translation is about US $ 5000, granting a residence permit for foreigners who own real estate in Turkey for one year renewable without identifying a specific price or area but within what is logical.
- The Second Case of Syrians Ownership in Turkey:
The Turkish law allows the Syrian to own in the event of partnership with a Turkish person, and the partnership here is equivalent to the sponsorship system imposed by some Gulf countries on the Syrians. The guarantee here for the Syrian rights is to place a mortgage mark on the house or the facility for the benefit of the Syrian. This is one of the most common cases at the moment.
- The Third Case of Syrians Ownership in Turkey:
It is an ownership by the name of another Turkish foreigner, for example, that person should be trustworthy and in any case the Syrian can guarantee his rights by certain bank and account transactions by the name of the default owner, such as placing a seizure mark on his bank account.
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