Sale of Real Estate to Foreigners without Value-Added Tax!

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Many measures are being taken to appease the effects of the economic contraction in Turkey and to melt the existing housing stock. So the construction sector can develop by these measures. One of the most important measures (may be it is the most important and effective measure) is the sale of real estate to the foreigners without value-added tax! It is clear that there will be also social and political effects in addition to the economic effects. So, the sale of the real estate to the foreigners without a value-added tax is a very powerful stimulation. The related application started on the date of April1, 2017 but no bier arrangements have been made on the general principles of implementation yet. Turkish citizens, foreign national real and legal persons can also benefit the advantages of the implement which is named as the sale of real estate to the foreigners without value-added tax.

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Turkish Citizens Must Have Residence Permit Abroad

Turkish Citizens, who want to take advantages of the sale of real estate to the foreigners without value-added tax, must have the residence permit abroad or a work permit abroad. The related citizens must take these permits at least 6 months before the delivering of the real estate. Also between the dates of the taking the permits abroad and the delivering of the real estate; they must have been in abroad for at least 6 months. In other words; Turkish citizens who work or live in abroad also can take advantage of the exception.

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