With the Solar Power Plant, which is the largest field project among Turkey’s public institutions and organizations, to be built on an area of 96 decares in Toslak District, all the electrical energy consumed by our Municipality will be covered from our own resources with the electricity we produce from solar energy. With the Solar Power Plant, 3 MW of electrical energy will be produced in the first stage, and it is aimed to produce 6 MW of electrical energy at full capacity. When the Solar Power Plant is completed and starts operating at full capacity, it will be the largest Solar Power Plant among public institutions in Turkey.
Do I need a residence permit for opening a bank account in Turkey?
Yes, you need to have a residence permit for opening a bank account in Turkey, as all banks impose such conditions. In some cases, you might need a work permit, so you should first of all obtain such documents, helped by one of our lawyers in Turkey. All the formalities of obtaining a residence and work permit, plus the ones for opening a bank account can be discussed.
Do I need a bank account in Turkey to obtain the residence permit?
Obtaining the residence permit in Turkey is not related to the local bank account. However, the authorities will ask for proof of your financial situation. Once the residence permit in Turkey is obtained, you should consider opening a bank account in order to make the necessary payments while living in Turkey.
Banking services offered in Turkey in 2023
Banks in Turkey offer a wide range of services, many of them tailored to the needs of clients, whether natural persons or company owners. Yet, there are specific facilities offered by the bank and mostly are free of charge. Money transfers inside and outside the country, ATM withdrawals, payments in the selected currency, plus other online banking services are normally part of the facilities provided by any bank in Turkey. It is extremely easy to make payments with your account in Turkey, whether online or visiting the bank. On the other hand, one must pay attention to the fees imposed for different banking services.
Important document: The real estate appraisal report*
The appraisal report is a report containing all the features and details of the house to be purchased. As a result of the appraisal report, it is possible to learn about the land registry information (mortgage, lien, etc.), the occupancy status, the age of the building, its square meter, location and the market value of the house.
Why you need to take this document?
When you are closing a contract to buy a real estate you have to mention that if the appraisal price would be different from the price that you made a deal, Then the contract must be terminated and the deposit amount you paid must be returned to your account.
*For instance: for applying Turkish residency you need to show $200.000 in your appraisal report.
You should know that you can add this clause when concluding the contract:
If the evaluation number is lower than $200.000 the contract will be terminated.
Another point to consider is whether the apartment in question has an occupancy permit or not. As a buyer you must receive the confirmation of the accommodation permit from the owner.
WHAT IS OCCUPANCY REPORT?
The occupancy report, which is a kind of approval document issued by the authorized units after the construction of the building, showing that the building complies with the laws and regulations, means a kind of building occupancy permit. For this reason, it is also known as a building occupancy permit.
The constructed structure must be completed in accordance with the project. Only in this way is it possible to obtain a building occupancy permit or, in other words, a residence permit. Some companies delay issuing this document to avoid expense on projects that are not yet completed. For this reason, if you are considering buying a house, it would be useful to inquire about this document.
What Happens If There Is No Settlement?
One of the first things to do for a construction is to get a permit, that is, to get a residence permit. In cases where there is no settlement;
Problems may arise in obtaining approval from the municipality. Extra costs may arise for subscriptions such as electricity, water and natural gas, and it may be difficult to get these subscriptions on the flat.
Flats without a report cannot be converted from a condominium servitude deed to a condominium title deed.
If a loan will be taken to buy a house and the house does not have a condominium title deed, the loan application may not be approved. For detailed information on this subject, “For Which Types of Deeds Home Loans Can Be Used?” You can also check out our article.
Municipalities may impose fines for buildings that do not have a permit within 5 years from the date of license.
A demolition decision may be issued for buildings that have not been authorized and are not built in accordance with the project.
As you can see, this document is one of the most important things to consider when buying a house. The house you will buy has a license, but if there is no occupancy permit, it would be good to think about it; because the license alone is not a sufficient document to move into the house and live.
How to Get a Settlement Report?
In order to receive a settlement report, it is sufficient to apply to the relevant municipalities with the necessary documents completed. With the submission of all documents, the relevant unit of the municipality makes an analysis as to whether your building is suitable. As a result of the process, if your structure is appropriate, a report is given.
The Building Occupancy Permit Unit of the relevant municipalities provides service for the document. The officials here examine whether the building complies with the license and its annexes after your application.
In order to obtain a building occupancy permit, all the conditions shown in the project must be fulfilled. For example, if the sewerage infrastructure has not been completed, the application for a settlement report may be rejected.
Documents Required for the Settlement Report
The petition of the applicant or the printed form prepared by the administration
The reports of the technical responsible or building inspection institution stating that the building complies with the license and its annexes, whether appropriate materials are used, and that there is no problem in terms of science and health in the use of the building.
Energy performance certificate
Photographs of the building (2 pieces of 18×13 cm)
You should not forget to confirm the up-to-dateness of the documents required to receive the report by calling the relevant municipality.
How is Settlement Inquiry Made?
If you want to make an occupancy query regarding the residence or building, you can make the relevant search in the e-government system.
RULES FOR BUYING PROPERTY IN TURKIYE
Property purchase rules in Türkiye:
Turkey is undoubtedly one of the best countries for immigration and investment. If you are planning to buy a property in this country, you must be fully familiar with how to transfer a property document in Turkey. The economic conditions and cost of living in this country are very suitable. This issue has made Turkey popular among foreigners. Of course, don’t forget this important point, you should keep some important and basic points in mind for buying property or investing. There are also some restrictions for foreigners. You should pay enough attention to these things.
To buy a property in Turkey, you must submit the relevant application to the Land Registry Office. After the necessary checks by the Land Registry Office, foreigners can easily buy a property. Of course, keep this important point in mind, the If value of the house you buy would be at least 400 thousand dollars. You can easily get a Turkish passport and residence by buying a property or investing.
What is a Tapu document?
In Turkey, property documents are called Tapu. To transfer a real estate document in Turkey, you should keep some important and basic points in mind. Tapu administration is actually the housing administration in Turkey. Real estate documents are officially registered in these offices. Also, all these documents have a QR code, this code shows all the characteristics of the property. In fact, fraud and fake documents are prevented by using these codes.
Tapu documents are red and blue. Blue documents are for lands that do not have building permits (iskan). And red documents are given to houses with building permits(iskan) in Turkey. In general, it can be said that all properties in Turkey have a legal identity card. This card contains all the information about the property.
Necessary measures after transferring the property document in Türkiye:
After transferring a property document in Turkey, you must take a series of necessary actions. In the following, you will learn about the necessary actions after the transfer of the property document.
. To transfer bills, you must visit the relevant departments.
. To register your place of residence, you must go to the Nafus Department.
. You must submit the property tax declaration to the municipality.
The process of transferring a real estate document in Türkiye:
If you are planning to buy a property in Turkey, you must be fully familiar with how to transfer a property document in Turkey. In the document transfer process, you should keep some important and basic points in mind.
After choosing the desired property with the help of real estate consultants in this country, you must sign a contract in the relevant companies. Of course, don’t forget this important point. According to the laws of Turkey, in order to create a contract, all transfers must be done in the official offices after the real estate registration. The owner must submit a request to transfer the document. This request will be registered by the official offices. After the necessary checks by the official offices, the process of transferring the property document is carried out.
Do not forget that you have to pay some additional costs during the process of transferring a property document in Turkey. It is better to open an account in one of the banks of this country before buying a property. Therefore, by doing this, there will be no problem in the process of buying the property. The transfer of a property document usually takes a week. In general, it can be said that you should keep some important points in mind to buy a property and transfer the document.
Turkish real estate transfer fees:
As it was said, to transfer a real estate document in Turkey, you should keep some important and basic points in mind. The document transfer procedures are carried out by real estate offices in Türkiye. It is better to open an account in the banks of this country to transfer money before buying a property.
Undoubtedly, by doing this, there will be no problems in the document transfer process. Of course, don’t forget this important point, in addition to the property purchase commission fees, you have to pay some other fees as well. Costs such as translator, notary fee, etc.
Necessary documents for the transferring title deed:
As mentioned, Turkey is undoubtedly one of the best countries for immigration and investment. The cost of living in this country is very reasonable. This issue has made this country popular among foreign investors.
To transfer a real estate document in Turkey, you should keep some important points in mind. To transfer the document, you must go to the document registration office in Turkey. In the following, you will learn about the necessary documents for the transfer of a property document.
– Presentation of municipal taxes and fees.
– Submission of a letter of approval from the document registration organization.
– Two photos of the buyer and the seller.
– Earthquake insurance policy.
– Providing the original passport along with Turkish translation.
– Bringing the original power of attorney with the approval of the Ministry of Foreign Affairs.
– The presence of a translator during the transfer of the document if you
are not fluent in the Turkish language.
– Birth certificate or national card of the buyer with an official translation.
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