In recent years, Türkiye House purchase immigration has had a very wide influence on the immigration circle. With the trend that Chinese people like to invest in real estate to make profits, buying a house in Turkey can not only get high returns, but also apply for immigration to obtain Turkish status and even apply for an E2 visa in the United States. However, many people know very little about the specific issues of Turkish immigration. Here are some common questions.
Q. Where can I sign the POA of the Türkiye Passport Project?
A. There are four ways to sign a POA: (1) The applicant enters Turkey and the lawyer leads him to sign at the Turkish notary office, which takes about 3 working days; (2) The applicant goes to the Turkish Consulate in Guangzhou to sign a POA, which takes about 2 working days. (3) Customers who hold Hong Kong or Macau ID cards can sign a POA at the Turkish Consulate in Hong Kong. The Turkish Consulate will designate a translator to assist, and the period will be about 2 working days; (4) Sign a visa certificate under the witness of notary , then send it to the Hague certification, and then send it to a Turkish lawyer, and translate it into Turkish in Turkey, with a period of about 20 working days.
Q. Will the Turkish Passport Project POA mention the processing of Turkish identity?
A., the authorization letter mentions the processing identity.
Q. Both the main applicant and spouse need a POA signed by a lawyer. If the client does not enter the country to purchase a property, can he go to the Turkish Embassy in China to apply for a visa? How many copies do you need to sign? Do both husband and wife sign together or separately?
A. Yes, the lawyer only needs one copy. Couples can sign the same copy together or sign one separately.
Q. If a lawyer is a POA, can he represent the applicant to fill out the Turkish residence card and Turkish nationality application form? Children of minors do not need to sign the registration. Can lawyers also sign application forms for young children of minors?
A. The lawyer can act on behalf of the applicant for all matters when he is authorized by the applicant. Minors don’t have to sign the POA, but lawyers can also prepare application forms for them.
Q. Do I need to go if I sign a Turkish POA in China to do the Hague certification? What information is needed?
A. You don’t need to go by yourself, you can entrust us to handle it, about 4,200 RMB per copy. Information required: 1) Signed POA (blue signature pen, name must be consistent with the signature on the passport), and paste a photo ("35mmX45mm white background without crown"); 2) 1 copy of my identity.
Q. Is it the same for Türkiye’s home purchase immigration applicants to obtain residence cards as their families?
A. Yes, the fees for applicants and their families to apply for immigration to buy a house are different.
Q. If both husband and wife apply for identity, do they need to sign a POA?
A. Yes, both the main applicant and the couple need to sign a POA.
Q. If the Turkish home purchase contract is signed by the main applicant and his spouse, is the bank account in the name of the main applicant or the joint account of the couple ?
A. Real estate and bank accounts can only be in the name of the main application, and couples are not allowed to sign a contract together. Investment funds must be transferred from the main applicant's account to the developer's account and can only be operated by the investor himself or an authorized attorney.
Q. Can investment funds in Turkish accounts only be transferred from private accounts? Can it be transferred only from the main applicant's account? Do applicants need to provide back-tuning information to explain the source of funds?
A. Investment funds must be transferred from private accounts and cannot be transferred from company accounts; at present, the applicant's Turkish personal account has no clear restrictions on the method and account transfer of funds from overseas, and the source of funds will not be investigated for the time being.
Q. How much deposit is usually paid for when purchasing Turkish real estate? How to pay? What issues should be paid attention to when paying a deposit?
A. Payment deposit is usually 10% of the house price; payment methods are divided into: 1. Domestic transactions, our company assists in paying RMB/USD to the project party; 2. Overseas transactions, swiping cards, it is recommended to bring a few more foreign currency credit cards, UnionPay may not be able to swipe successfully. When swiping cards overseas, the specific amount of your credit card is determined by the amount of your credit card and the amount of the developer’s POS machine. 3. Overseas transactions, cash payments, cash payments, only US dollars or euros are charged, and RMB is not accepted. What should be noted when paying a deposit is: (1) The deposit cannot be used as an investment fund. The investment fund needs to be remitted to the applicant's personal Turkish account and then transferred to the developer's account; (2) The deposit can only be returned after the applicant pays the same amount to the developer's account!
Q. Can I pay for the full payment for the purchase of Turkish real estate by swiping my card?
a. No, the total amount exceeds foreign exchange control and cannot be printed. Cash and card can be used to pay prepayment and lock the room, but it cannot be counted into the room rate. Room rates still need to be transferred from the main applicant's account.
Q. The applicant has an overseas account under his name, and the deposit and house payment are transferred from the overseas account to the Turkish developer. Is it okay to not open a Turkish account?
A. Yes, it is necessary to ensure that it is transferred directly from overseas accounts to the Turkish developer account.
Q: If the applicant issues a deposit for his overseas account to the Turkish developer, can it be considered as part of the purchase?
A. Yes.
Q. Is it correct to fill in the Turkish house purchase information form when the applicant pays the deposit?
A. Yes, pay deposit to lock the house
Q. How long does it take for a Turkish applicant to pay a deposit of 20,000 US dollars? Where to retreat? Turkey or China
A. If you swipe your card in Turkey, pay the same deposit to the developer and check the account, the deposit can be returned on the same route. If it is to pay cash, the applicant will refund the cash to the applicant
Q when entering Turkey for the second time. How long does it take to transfer the land deed in Türkiye?
A. After the full payment, the Türkiye transfer land contract will be about two weeks
Q. Is the Türkiye real estate property a title certificate or a title deed? Is it independent
A. Turkish real estate gets a land deed, which is equivalent to our fertility ticket. Each real estate is an independent land deed. If two applicants buy it together, the two people will divide the land deed.
Q. How long will the applicant transfer funds to the Turkish developer before receiving the Turkish land deed? Are there any procedures that the applicant needs to complete?
A. Generally, it takes about two weeks. To obtain the title deed, you need to translate the certificate of the applicant's passport. After receiving the land deed, the lawyer applies for an immigration certificate on behalf of the applicant to confirm that it meets the immigration requirements, which will be prepared by the Land Affairs Bureau Office (about 1-2 weeks). After receiving the confirmation of the immigration application, the legal counsel will send us a copy and the lawyer will apply for a residence permit for the applicant (it may take several days).
Q. If the applicant purchases the Turkish real estate under construction and cannot get the land deed immediately, how should this situation be done? How to apply for Turkish nationality?
A. In this case, the applicant needs to sign a sales contract commitment letter under the witness of the notary. Before signing the sales contract commitment letter (can be signed by a lawyer), the applicant must pay the seller the house payment. This sales contract commitment letter signed and submitted to the Land Affairs Office at the notary office can be used to apply for nationality, and an additional notarization fee is required.
Q. On the day the lawyer helped the complainant register the Turkish land deed, can the lawyer also sign the consent form on behalf of the applicant, which means that the Turkish real estate must not be sold within three years? When will the three-year holding period start to be calculated?
A. Yes. The holding period is calculated from the date of issuance of the Turkish land deed.
Q. Is the title deed obtained red certificate or blue certificate?
A. The applicant obtained a red land deed, enjoying independent property rights, and the house can be used for loans. Blue land deeds are different. Blue land deeds are used to purchase land or share ownership. For example, a building is owned by 20 households on average, and each household owns a blue land deed in a room in this building. The land deed will only be marked as occupying 1/20 of the building. This house with shared ownership cannot be used for loans)
Q. What currency is the Turkey real estate appraisal report evaluated?
A. Lira
Q. Will the exchange rate of lira against the US dollar fluctuations affect the Turkish real estate appraisal price?
A. will not affect the value of the Türkiye property and the assessed value are calculated based on the exchange rate used when the property is traded (i.e. the exchange rate on the day before the transaction).
Q. Can the Türkiye Real Estate Evaluation Report be completed after the applicant pays the deposit? Or does it need to be completed after the applicant pays the full amount? How long does it take to issue a Turkish real estate assessment report?
After the applicant has paid the deposit, the Turkish lawyer can start preparing a real estate assessment report for the applicant. The real estate assessment report can usually be completed in about 2 weeks.
Q. Can the applicant invest in Türkiye in real estate with lira or US dollars? In which currency is used for evaluation?
A. There are two situations for investment funds. Some developers use lira for pricing, while others use US dollars and lira for valuation, so the applicant must be above US$400,000, and it is safer to be around US$420,000.
Q. Is the Immigration Administration designated an assessment agency before purchasing or purchasing Türkiye's real estate? Is there any additional cost to issue the assessment report
A. After the applicant selects the property and pays the deposit, the property assessment report will be issued. The assessment report will be made by a qualified real estate assessment agency, about US$300 per copy.
Q. Can Turkish applicants buy office buildings if they invest? Can I buy a second-hand house?
A. You can buy commercial real estate and second-hand houses.
Q. What taxes and fees are involved in selling a house after getting a Turkish passport three years?
A. In the future, the homeowner will have two expenses involved in selling a house: 1) Capital gains tax (the profit part obtained from the selling price minus the earliest buying price is the tax base); 2) Real estate transaction tax: 1.5% (the tax rate is 3%, and the buyer and seller each bear 1.5%).
Q. Do Türkiye’s rental income need to pay tax?
A. The income tax for renting a house is paid according to the Turkish personal tax rate standard. Please see Turkish personal income tax introduction
Q. Is the Turkish capital gains tax fixed proportion or is taxed according to the ladder?
A: For Turkish real estate, the capital income tax rate is the same as the personal tax rate. However, the capital gains of the house are related to the year of purchase, year of sale, inflation rate, etc. Moreover, the government provides certain tax exemptions every year, and there is a special website to calculate the income of the house loan.
Q. Is Turkey's real estate permanent property? What are the annual holding costs for ? Can you provide a general fee?
A. Türkiye's real estate is permanent property, and 0.1%-0.6% is levied every year; the property fee is different for each item, generally 4-8 lira per square meter/month.
Q. Can I pay in installments by purchasing Turkish real estate
A. Can I pay in installments, but it is best to pay the full amount within one month. If the applicant wants to exceed one month's payment period, we will negotiate with the developer separately.
Q. Can I buy a house with a loan for a Turkish real estate?
A. Can't
Q. During the period of holding a Turkish real estate, can you change the investment target?
A. Can't
Q. After obtaining the Turkish passport, can you mortgage the real estate for a bank loan?
A. No during the three-year holding period, but after three years.
Q. What is the down payment ratio of Türkiye’s mortgage?
A. There are different choices for the down payment ratio. Locals generally choose to pay 50%, but they rarely have loans because the interest rate is high, and the average annual interest rate starts at 20%.
Q. Can foreigners sell their houses in Türkiye to foreigners?
A. No, it can only be sold to foreigners by Turkey. After the applicant obtains his passport, he can change the property to his Turkish identity and hold it as a Turkish identity. In this way, in the future, the property can be sold to Türkiye and non- Turkish people .
Q. After 3 years, can real estate held in Türkiye passport be sold to companies?
A. Can
Q. How to declare the income of the applicant renting a Turkish property?
a. The taxes generated by the leasing income in Türkiye need to be declared by the applicant themselves. The applicant can consult the tax bureau and submit it by himself, or entrust an accountant to declare it, and it does not need to be handled through the lawyer's building.
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