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Property Buyers' Guide - Legal Issues The system of property ownership in Turkey is based on the title of the property being registered with the Land Registry. As of January 2006, the title deeds laws have been changed, so it is essential to be aware of these changes. Who Can Own Property in Turkey? First the ‘reciprocity principle’ must apply between the country of the person wishing to obtain acquisition of ownership. In other words, if a Turkish citizen can become the owner of real estate in the UK, then the same right applies to a UK citizen in Turkey. We hold a current list of countries whose citizens are entitled to purchase property in Turkey. Selling Property in Turkey Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company and the property has been owned for less than 2 years. Individuals do not have to pay capital gains, provided they have owned the property for four years. In the UK capital gains may be taxable depending on the individual's situation. Current tax conditions were originally agreed in a double taxation treaty signed in 1986. These were amended in October 1988 and cover the reciprocal agreement in relation to income tax and corporation tax in Turkey and income, corporation and capital gains taxes in the UK. Property & Conveyancing in Turkey Persons wishing to buy property in Turkey can be apprehensive about their choice of lawyer since they will not be familiar with the firms nor, in most cases, with the civil law system. We can put these misgivings to rest by recommending the lawyers we work with who are reliable and will provide an efficient and professional service. We can further assist by explaining the civil law procedures and translating documents. If a client so wishes we can also act on their behalf, through a Power of Attorney or a written authority, to actually complete a purchase or sale of a property on their behalf For more detailed information see here or here
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