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.
The owner of the building, if available owner of the right of use, in the absence of both of them is referred to as natural or legal persons who save the building. If a building has both the owner and usufruct owner, the usufruct owner is responsible for the obligations of the building.
Obligations of those who own a building with common right are determined in proportion to their shares. In the case of an associate partner, the owners are responsible for the taxation in a chain. Since the shares in the joint ownership are determined, the obligation arises in proportion to the shares. In the case of associate ownership, the shares of the partners are unclear and all of them are entitled together and equally to the building. Therefore, it is assumed that there is a chain responsibility in the ownership of the subsidiary.
The property tax is collected from the owner of the building, if any, the owner of the right of use, and those who save the building if neither of them exists.