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Frequently Asked Questions
What can I purchase in
Turkey?
An Irish Citizen can purchase a property, site or land (land is subject to
military authorisation) and can sell at any time to a turkish National or
foreigner.
What are the requirements for purchasing property through
Opportunities
Turkey?
To purchase a property, we require a complated property booking
form, 6 passaport photographs, a copy of your passport, some family
details and a booking deposit.
What are the
precise steps involved?
When you have decided on a property, a booking form is completed and
along with the required deposit, the documentation is sent to Turkey
on your behalf. Contracts are then complated and instalments are
paid at various stages (depending on what stage the development is
at ). On construction completion, the balance is paid and the Title
Deed (Tapu ) is then obtained. This can be collected personelly or
Power of Attorney (P.O.A) can be given by the purchaser to
Opportunities Turkey representatives in Turkey to do so on your
behalf.
Do I have travel
to Turkey to purchase a property?
No. You can purchase a property in Turkey and have it registered
in your nameif you wish without ever going to Turkey. Most of our
clients so far have purchased from information supplied but when the
property is completed, they normally travel to Turkey and pick up
their Title Deed ( Tapu ) in person.
What is POA (
Power of Attorney )?
Power of Attorney is given by the purchaser to a third party in
Turkey to act on their behalf in relation o the purchasing or
selling of a property.
What are the
buying costs?
All purchasing and associated costs e.g. conveyancing,
contracts, commissions ( 3% ), etc are normally included in prices
quoted by Opportunities Turkey. Non inclusions are Stamp duty at 1 ½
% of the declared value, P.O.A, notary costs and other utility costs
such as electricity and water connections.
Is there an annual community charge?
Yes community charges vary from district and they can be between
350 to 1,000 depending on which area you buy in and the type of
property purchased.
Do I need a
Solicitor?
No. İt is not leglly necessary to employ a solicitor. İf you
give Power of Attorney to an Opportunities Turkey representative,
they can carry out all the legal requirements on your behalf. This
cost of P.O.A. is normally in the region of 150.00. However, if
you wish, Opportuninities Turkey can put you in touch with an
English speaking Solicitor in Turkey. The usual cost of a Solicitor
is in the region of 1000.00.
Do I need a Visa
to enter Turkey?
Yes, when you enter Turkey, by air or sea, a 3 month Visa is
obtained at the point of entry. This will cost you 10.00 and can
be renewed every 3 months. İf you buy property and wish to reside in
the country, Visas for a minimum of 12 months to a maximum of 5
years can be obtained and renewed.
Can I get a mortgage in Turkey?
No, it is not possible for Irish citizens to obtain a Mortgage
in Turkey. However, it is possible to secure a mortgage in Ireland
against a property owned by you.
What about
insurance?
İnsurance is freely available in Turkey and the normal cover
such as Fire & Perils cover including Public Liability is availabe.
Earthquake insurance is also obtainable for an additional
Premium in the region of 25.00.
Is there Capital
Gains Tax in Turkey?
There is no Capital Gains Tax payable for private purchasers
providing that you do not sell within one year of purchasing.
However, this may change as Turkey prepares for EU membership.
What would the appox annual running costs be?
Yearly tax 0.1% of the decllared cost of your property. Community
charges as per your area, Refuse 15.00 & Rates 25 appox
annually.
If I buy a
property is it posible to rent it out?
Rental is only starting off in Turkey but on a 12 month basis,
the approx rental would be in the region of 250- 350 per month.
Short term rental especially in the summer season could be in the
region of 200- 400 per month.
What costs are
involved if I want to sell my property in Turkey?
The cost of selling a property in turkey varies from 5-6% of the
sale price of the property. This can vary subject to agreement.
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