Buying a real estate or investment in Turkey has become recently an unmissable chance.
Advantages such as VAT discounts, resetting stamp duties, and getting citizenship in Turkey for those who purchased a property for sale in Turkey for at least $250.000 made the country favorable. After these changes, the Turkish Government has stopped VAT on property sales to foreigners for attracting more international investors.
Some Turkish citizens residing abroad and foreign citizens will not pay VAT on condition of getting new property from the construction company.
Who Can Benefit From This Law?
- Turkish citizens that lived abroad for more than 6 months with their work and residence permits. But Turkish citizens who exist in foreign countries, working for establishments and institutions based on Turkey will not be able to use VAT exemption.
- Foreigners who are not living in Turkey.
- Organizations that have not made any profit from Turkey or do not have an office.
VAT Exemption on Buying a Real Estate in Turkey
- Only the new real estate properties purchased from construction companies are included.
- The purchased real estate cannot be sold for a year. If the real estate is sold in a year, the exempted VAT will be collected.
The Documents Needed For Turkish Citizens That Lived Abroad
- Work permits or equivalent documents that are acquired from the official embassies or consulates of Turkey.
- A document as proof that shows the citizen was there for at least six months from the date of buying.
The Documents Needed For Foreigners Who Have Not Settled In Turkey
- A copy of the passport issued by the country where the foreigner resides
- A document supplied by the tax office stating that the person who will buy the property is not settled in Turkey.
The Documents Needed For Organizations That Have Not Made A Profit From Turkey
- A document which proves that the organization is still active. This document should have an apostille.
- A document that verifies this company does not earn any profit in Turkey.
Last Updated: 4/20/2019 12:05:08 PM