July 4, 2022
After Turkey recently opened its doors to foreigners and allowed them to invest in exchange for Turkish citizenship, foreign demand for real estate ownership in Turkey has increased and it has become large. What is striking is that there is great diversity among the nationalities coming to this matter, and Iraqis made up a good percentage among foreign investors in Turkey, because for them it is a safe and stable environment, unlike the situation in Iraq today, especially since Turkey has opened the doors of its state in front of them to the full and provided them with all the necessary facilities.
For a more in-depth knowledge of the reasons that encouraged Iraqis to turn to the Turkish
state in order to own real estate, the following lines can be followed
Turkish laws that encourage real estate investment and ownership, such as the tax reduction law and the law on granting Turkish citizenship by owning real estate.
Significant increase in the number of Iraqi expatriates in Turkey and the Arabs.
The geographical proximity between Turkey and Iraq and the common borders made Turkey a good and suitable destination for Iraqi migration.
The political, economic and social stability in Turkey.
Ease of obtaining a Turkish visa for Iraqi citizens and on favorable terms
The strength of the Turkish passport compared to the Iraqi passport, which opens new horizons for Iraqis to go through their acquisition of Turkish citizenship through real estate investment to more than 100 countries around the world without a visa
What are the properties that an Iraqi citizen can own in Turkey?
According to the 2012 law on foreign nationalities entitled to own real estate in Turkey, the law of reciprocity was determined in the issue of foreign ownership of real estate in Turkey, where restrictions on ownership were imposed on some foreigners, including Saudi nationals, and thus the Kingdom of Saudi Arabia became among the countries Which has the right to own real estate in Turkey without any obstacles or conditions
Thus, Saudi nationals can own all types of real estate in Turkey, including: apartments, Turkish villas, shops, commercial offices, stores, hotels, buildings, lands, farms and other types of residential and commercial properties.
The legal papers required to complete the procedures for Iraqi ownership in Turkey
To complete the procedures for real estate ownership in Turkey and the title deed works, the following is required:
Extracting a tax number.
Translation of the passport into Turkish.
Authentication of the translated passport with a notary public (noter), or through Turkish embassies abroad.
Two personal photos.
Pay the Tapu fee.
Pay the fees of the Turkish evaluation company and the legal translator
he presence of the person concerned or his official representative, by submitting a notarized power of attorney (the notary), or Through Turkish embassies abroad
It should be noted that in the latest study conducted (on the growth of real estate investments) and statistics on (the most nationalities owning real estate in Turkey), Iraqis ranked first as the highest percentage of foreigners who (purchased a property in Turkey).
As an advice that Acuad can offer to the Iraqi brothers and other investors in general, pay attention to a number of points so that they do not become a victim of any fraud, which is
Ensure that the property is legal and free of any sign or mortgage
Concluding all sales contracts with the notary and transferring ownership in the civil real estate registry department and at the notary public.
All amounts have been transferred through the bank, with the address of the property in detail
