.webp)
One of the hottest debates ever in Turkey and likely to continue as long as Turkish law prohibits Syrians from owning properties in their name, Syrians have engaged in buying properties.
The most important problem is real estate sales to Syrians. While Syrians can not own Turkish real estate directly due to the laws of both countries, it is possible for them under certain conditions which we will elaborate on in this article.
Here, we'll discuss the legal procedures for Syrian individuals to purchase real estate in any of the Turkish cities and the benefits of owning a property in Turkey. Finally, we'll outline the benefits you stand to gain from purchasing real estate in Turkey.
How many Syrians purchase real estate in Turkey?
Owing to the growing Syrian population in Turkey and their aspiration to own property to alleviate the burden of rent and take advantage of Turkey's benefits, they are permitted to acquire real estate through one of the following channels:
The first approach is to start a business.
Syrians can easily become property owners with this option.
Syrian investment in Turkey has increased as a result of the ability of any Syrian citizen to establish a company in Turkey under a license granted by the Turkish government. This permits the company to acquire a legal personality and gives its owner the freedom to use its name and engage in commercial, industrial, and agricultural activities without limitations.
However, the property's area and price compatibility must be considered with the company's size and capital.
Notably, forming a company to acquire real estate in Turkey doesn't take much time or work—the daily processes can be completed in as little as two days. After that, the Syrian investor simply needs to obtain the company's tax number and commercial register and open a bank account in its name.
Documents needed to form a business include:
The first step is to file an application for the registration of a business and to provide the following set of documents received from law firms and specialized services:
Application to start a business
This then leaves the rest of the steps for your attorney to deal with on your behalf via Power of Attorney.
- The Incorporation Statement.
- Memorandum of association: this is the founding document of your company and contains details on a full range of legal obligations, including land restrictions.
- Intent form signed by the owner of the business
- Notarized copies of all other overseas documents.
- Revenues from banks.
- Chamber of Commerce Registration Statement
- Tax assignment paperwork.
The second method is to preserve a Turkish citizen's name
This is one of the most common ways to buy a house in Turkey for Syrians, but some legal procedures have to be done as an added guarantee for both sides such as getting the mortgage licensed in the name of his Syrian partner on this property.
The difficulty of this strategy is locating a reliable Turkish partner, with whom a partnership document is made and each party's rights are fully and properly explained.
The third option is to become a citizen of Turkey.
The Turkish government decided in 2018 that permits foreign investors to become citizens of Turkey through a variety of channels, including:
- Purchasing a home for at least $400,000 and holding onto it for three years. Naturally, Syrian investors are not eligible for this procedure as the property cannot be directly registered in their name.
- A set aside of at least $50,000,000.
- Provide at least fifty Turkish nationals employment opportunities.
- Deposit USD 500,000 at Turkish banks.
Fourth strategy: changing citizenship
Buying in Turkey with an advantageous ownership system, including property ownership for foreigners, Syrians who are citizens of foreign countries can also easily buy real estate and enjoy the benefits that come along with it.
Conclusion:
We conclude that due to legislative restrictions on the Syrians from buying real estate in Turkey directly, there are ways to bypass them such as through establishing a Turkish business partnership or forming a cooperation with Turkish nationals. Through these methods, Syrians can buy real estate in Turkey, but it is important to receive legal advice to ensure compliance with Turkish laws.
