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Investment Guide

REAL ESTATE ACQUISITION AND INVESTMENT GUIDE IN TURKEY

Turkey, noting significant progress with its developing economy in recent years, investments in construction and real estate sectors, is becoming a center of attraction for institutional and individual investors. In this process, the country offers significant opportunities to foreign investors who need to master local dynamics to make successful investment decisions. As Trem Global team, we are closely following developments in order to provide support to investors in real estate acquisition and investment issues, which are highly dependent on internal and external factors and have unique problems, with our experienced and industry-dominated staff. In order to meet the needs of our customers in Turkey, and to help them achieve successful results in investment decisions we present Real Estate Acquisition and Investment Guide in Turkey to the investors, where we provide sector-specific knowledge. The information in this guide is general, not social, tax or legal advice.

1. Country Profile
  1. Geography and Climate
  2. History and Government System
  3. Turkey's Foreign Relations
  4. Population and Language
  5. Economy and Currency
  6. Conditions of Employment
    1. Residence Permit
    2. Work Permit
    3. Turquoise Card
    4. Acquisition of Exceptional Citizenship (Being a Turkish Citizen)
  1. Turkish Citizenship through Investment
  2. Reasons to Invest in Turkey
  3. Demographic, Economic and Sector Datas About Turkey
  4. How to Proceed in the Investment Process?
    1. Real Estate Acquisition Process
    2. Real Estate Retention Process
    3. Real Estate Disposition Process
  1. Property Tax
    1. Taxpayer of Property Tax
    2. Notices of Property Buyers or Acquisitors
    3. Beginning and Ending of Liability in Real Estate Tax
    4. Timeout in Real Estate Tax
    5. Rate of Real Estate Tax
    6. Calculation of Real Estate Tax
    7. Payment of Real Estate Tax
  2. Income Tax
    1. Liability of Income Tax
    2. Elements Of Income Tax
    3. Taxation of Real Estate Capital Income
    4. Determination of Real Estate Capital Income
    5. Collection Status of Real Estate Capital Income
    6. Precedent Rent Cost
    7. Exemption of Real Estate Capital Income
    8. Declaration of Real Estate Rent Income
    9. Taxation Of Real Estate Value Increase Gains
    10. Continuously Buying and Selling Real Estate
    11. Income Tax Return, Place and Time of Payment
  3. Environmental Service Taxes
  4. Earthquake Insurance
  5. Inheritance and Transfer Tax

Liability of Income Tax

   In Turkey, income tax includes limited liability to tax and full obligation concepts. Full obligation is a form of liability in which all of the real person's earnings and revenues from inside or outside Turkey are taxed.

    People who live in Turkey continuously for more than 6 months in one calendar year and persons who reside in Turkey are considered to be settled in Turkey in terms of income tax. Also public offices and institutions, etc. Turkish citizens living in foreign countries are also considered as full taxpayers due to the affairs of these institutions. The residence is the place where the person lives with the intention of staying and settling permanently.

    If the following foreigners stay in Turkey for more than 6 months, they are not considered settled in the country.:

·      Persons who come to Turkey for certain and temporary duty or work, science men, experts, civil servants, press and broadcast journalists and other persons whose circumstances are similar to these persons are charged or treated or returned for rest or travel purposes.

·      Those who have been detained or remained in Turkey for reasons not available, such as detention, conviction or illness.

    Turkish citizens residing in foreign countries are subject to official offices and institutions or organizations and undertakings headquartered in Turkey, and Turkish citizens residing in foreign countries are taxed on the basis of full liability for the affairs of the said apartments, institutions, organizations and undertakings.

    Limited liability; real persons who are not settled in Turkey are taxed exclusively on earnings and incomes obtained in Turkey.

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