Buyers Guide
The system of property ownership in Turkey is based on the title of the property being registered the Land Registry.
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.
Selling Property in Turkey
Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company. Individuals do not have to pay capital gains, provided they have owned the property for one year. In the UK capital gains may be taxable depending on the individuals 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
2006-12-23 20:03:07 · 2 answers · asked by Wings 1 in Business & Finance ➔ Renting & Real Estate