No Comments

 Tips to help you avoid Scamming.

Nowadays, getting an important investment in Turkey is the only thing Arab investors are thinking about. 

How do foreign investors avoid scamming? 

Real estate scamming is now more professional and you may find some advertisements on TV. Those people play with a lot of people’s dreams in owning real estate with less expenses. 

How to avoid real estate scamming in Turkey: 

First of all, asking about the title deed: when you want to buy an apartment in a normal building, which is mainly located outside the projects and residences, you should go to the title deed department and make sure of this building property, and inherent series in case this property was owned through inherits, same way applies on buying lands. 

Secondly, taxes and expenses: We often come across real estate with cheap prices and we don’t ask about details unless we fall victims to scammers. We, in Panorama Property, make sure that our customers consider looking at the tax statutes whether it was paid or this property was reserved for late payment of taxes. All these details and more are offered by our legal office as a free service for everyone who wants to reach for our services. Always remember, before you take any steps towards your dream apartment, you should use governmental centers as your first reference because only then, you will discover all the facts. 

Moreover, property descriptions: Do the details mentioned in the advertisement match with the ones in reality? We always remind our customers to consider matching the details mentioned in the paper to be identical to the ones in reality, and the only way to assure that is by paying projects actual visits and have a closer and more direct look at all the details, including the apartment size, floor number, and view. 

In addition, paying through bank transactions: Using the bank transactions that demand mentioning the reason behind making transactions. For instance, buying a specific property from a specific company. If the owner bought that property using a payment plan, then specifying the property is crucial. This type of bank transaction is a reliable way to prove your ownership of this property and to protect yourself from any future scammers. We, in Panorama Property, advise you to always use bank transactions as a payment method when buying any property in Turkey. 

Plus, documenting your buying process legally: The purchase process is considered to be the most important stage in owning any property as it is the stage where you get to pay actual money in exchange for this property. And in the purchase contract, there will be some points that will require a legal expert to fully understand, which needs a professional company with an experienced legal team that will go through all contract details and guide you for the best. 

It is preferred that the purchase contract contains a lot of important information, such as the buyer’s and the seller’s full name, the national ID number, the full mail address, and detailed information about the real estate to buy whether it is a flat or a piece of land. 

Besides, the history of the construction company to buy from is very important; as soon as you do a simple research, you find out whether or not the company is broke and you will also find out whether or not it delivers the projects on time or after. 

Furthermore, listen to your heart: We always see in the advertisements that some companies sell real estate at cheap prices or they offer unbelievable payment plans compared with the other companies in the same area. Here, you should ask yourself about the reason before you take any steps. 

Finally, do not buy real estate when you are under pressure. You should always take your time, do some research, and do not rush. You have worked so hard to make money so think a thousand times. Do not let the price of the real estate attract you if the broker offers you a cheap price. Ask him and ask yourself about the reason behind that because there are a lot of scam stories. Do not be of them. 

No Comments

 Why should I Buy Real Estate in Turkey?

If we go deep in the idea of real estate investment, we find it a successful idea, but it requires a lot of research, patience, and commitment. If all that went well, it will definitely be a profitable trip. 

Real estate investment represents a sustainable resource despite the market fluctuation. It also provides a sustainable income, and there is no way it can decrease. 

Nowadays, we have a lot of choices as the real estate market in Istanbul is one of the largest and most active markets in the world, so it will be hard to choose the real estate that gets you the highest return. 

The investor’s main goal of the whole idea of real estate investment is making a profit, so a deep study must be conducted. 

Is Investing in the Turkish Real Estate Market Reliable? 

Investment resourceful people know that real estate investment is the safest choice for those who want to increase their wealth because the real estate prices increase stably and it is impossible they go down. Whoever looked at the real estate stock market in Turkey realizes that the prices increased despite the COVID-19 Pandemic and they never sent down. 

Turkey has a variety of geographic structures divided into 81 stages, each one has its own geographic structure and details. Istanbul is the first and best destination to invest in Turkey. 

Istanbul is the capital of the world (as Napoleon called it) and one of the most beautiful cities. How can’t it be when it centers on two continents: Asia and Europe! With a central location on the Marmara Sea and the Black Sea, Istanbul has one of the best locations in the world. It was also one of the most civilized cities in Turkey and the world as the infrastructure has been improved, bridges have been built, the largest hospital and airport have been built in Istanbul as well. As for the real estate sector, hundreds of modern projects have been built so it became the investor’s first destination in the middle east, even better than Dubai. 

Real Estate Investment Characteristics in turkey: 

– real estate investment is a safe resort for lots of investors, especially with the fluctuation of the Turkish Lira in front of the US Dollar. 

The solution was to buy a real estate with a continuously increasing real estate value, Panorama Property’s clients have taken advantage of the exchange rate, and we directed them to buy suitable real estate. 

– The privileges that the Turkish Government granted to the foreign real estate investors made life so easy for them because now, they can get a real estate residency permit and even obtain Turkish citizenship if they match certain requirements. Such made the Turkish citizens and the foreign ones equal. 

– Turkey is the destination of a lot of Arab investors who want to invest and live in Turkey at the same time. Besides, The Turkish Government has decided to build more neighborhoods with modern projects. 

– The high population in Istanbul made any real estate a target to rent in the city. Istanbul’s being an industrial city and a center of work and studying made it easy to find tenants. 

– Constructing large projects, transportation system development, having the largest hospital and one of the world’s largest airports also made Turkey a destination for investors. 

– The Arab Community that lives in Istanbul is huge and it established many projects so one doesn’t feel homesick. 

Despite the big increase in the real estate prices in Istanbul recently, experts have stressed that the real estate market is going to be increasing. 

Of course, one of the most important factors that recovered the real estate market in Turkey is the e-marketing which has spread out all over the world recently. 

Experts said that the share of the digital real estate market is enormously increasing, this is why buying and selling is increasing in this sector. 

No Comments

Obtaining the Turkish Citizenship

الحصول على الجنسية التركية

 During the last ten years, Turkey has witnessed a noticeable development in so many ways, and it became a dream for everyone and every family who wants to live a stable and a luxurious life. In order to make that easier, the Republic of Turkey has stated some laws to ease the way for those people who want to get the Turkish citizenship. One of the most important and easiest ways to get the Turkish citizenship is buying real estate in Turkey. 

What are the laws sated by the Republic of Turkey to obtain the citizenship? 

1. Hiring 50 Turkish citizen in your own company. 

2. A 500K USD cash deposit in a Turkish bank for three years. 

3. Buying real estate with at least 250K USD. 

Since real estate is considered to be a successful and a secured investment. Because Turkey is witnessing a development in the real estate sector, investors went to get the Turkish citizenship by buying real estate with 250K USD. Here are the steps of getting the Turkish citizenship by purchasing real estate in Turkey. 

1. The appropriate real estate should be chosen, that is; it should be suitable for the client’s demand. Plus, it is very important to choose a real estate that matches the citizenship requirements stated by the Turkish government, as it has to be owned by a Turkish citizen or a Turkish company. It also has to be registered in the title deed. Moreover, the real estate to buy should be evaluated by an official specialized company hired by the Turkish government, and it has to be worth more than 250K USD. 

2. After making sure that the real estate to buy matches the previous requirements, the money should only be transferred from the client’s bank account whether from a Turkish or a foreign bank. It is important that when transferring the money, the client should explain that the goal of purchasing the real estate is to obtain the Turkish citizenship. 

3. A power of attorney should be ready for the purchase process, issuing the title deed, and applying for the Turkish Citizenship. 

The powers of attorney are as follows: 

  • A purchase power of attorney to sign and issue the title deed (If the client is outside Turkey and the purchase process has to be remotely done). 
  • • A power of attorney for the husband/wife in order to follow up with the citizenship application. (If the client is single, the power of attorney should be for him only) 

Note: 

Powers of attorney should be specific; the lawyer cannot do anything other than what’s written in it. 

4. After issuing the title deed, the attorney starts with the citizenship procedures, which are: 

• The husband/wife’s birth certificate along with the other family members that are aged under 18. 

• A marriage statement (If the client is single, a bachelorhood statement should be provided). 

• Nationality proof document (Some countries don’t mention the nationality in the passport, but if it is mentioned, then there is no need for it). 

5. Then, the lawyer submits an application for an (investor residency permit), then the citizenship application is submitted. 

Follow up can be done using the application code as the citizenship process has eight phases, the following points demonstrate the citizenship procedures with the estimated time each phase normally takes. 

1. The application is submitted on the system (5 – 8 days). 

2. The file is sent to the immigration department’s general directorate (5 – 8 days). 

3. The immigration department’s general directorate receives the file, then an initial check is conducted (7 – 10 days). 

4. A detailed security check is conducted (20 days to 5 months). 

5. The file is pended for approval to be transferred to the Council of Ministers (10 – 30 days). 

6. Approval comes and the file is sent for the final decision (5 – 10days). 

7. The applicant should check with the department that he applied at to inquire about the result of the application. (7 – 15 days). 

8. The client receives the result of the application (7 – 15 Days). 

The Turkish citizenship usually takes two to eight months, and the ID card can only be received either from inside Turkey or from the Turkish embassy in the client’s country. 

Note: All the powers of attorney or the required documents for buying a real estate and applying for the citizenship should be Certified and stamped by the Ministry of Foreign Affairs of the applicant’s home country. If the applicant is from a country of those that signed on The Hague agreement, then it’s enough to have the Apostille stamp. 

In the upcoming article, we will talk more about how the real estate is evaluated for the citizenship purposes, and how you can own more than one real estate to get it too. 

For more information about the legal details mentioned in this article, you can directly contact our consultants by calling our offices which are open to assist you.