Required papers .. 5 reasons for the Saudis to invest in Turkey
The Turkish real estate sector is considered one of the most sought-after Turkish commercial sectors by Saudi investors, as studies indicate that the amount of Saudi investment in the real estate field has reached approximately 30 percent.
Shrouq
Relations have witnessed a major change between Turkey and Saudi Arabia, especially with regard to trade.
Since the visit of Saudi Crown Prince Mohammed bin Salman to Turkey in June 2022, Encouraged direct investment with Turkey.
In this regard, The Turkish real estate sector is considered one of the most sought-after Turkish commercial sectors by Saudi investors, as studies indicate that the amount of Saudi investment in the real estate field has reached approximately 30 percent.
Due to the Saudi interest in investing in Turkey, there are many required papers that must be known when buying a property in Turkey include on:
Papers for owning Turkish real estate for the Saudis:
1. The tax number is obtained from the nearest tax directorate in Turkey
2. Translating the Saudi passport into Turkish and attesting it at the Turkish Notary.
3. Two personal photos.
4. Pay the tapu fees
Real estate papers:
1. The real estate purchase contract in Turkey is certified by the Turkish Notary.
2. The real estate appraisal report, noting that it is valid for 3 months from issuance.
3. Receipt for the sale of foreign currency (US dollars, Saudi riyals, or any other foreign currency) to the Central Bank of Turkey and exchange it for the Turkish currency.
4. A receipt for transferring the value of the property in Turkish lira from the Saudi buyer’s account to the seller’s account.
There are many reasons that drive Saudis to invest in Turkey more than any other country It is as follows:
Why Saudis invest in Turkey?
1. Geographical proximity to Saudi Arabia and the Arab world in general.
2. The Islamic character and the availability of hundreds of mosques and mosques that he used to see in his country.
3. The similarity of customs and traditions between Saudis and Turks, especially family privacy.
4. Investment climate, charming nature and mild climate.
5. Investment climate, charming nature and mild climate.
6. Government facilities and decisions that removed bureaucratic obstacles to Saudi ownership of Turkish real estate.
7. Low real estate prices in Turkey compared to most European countries.
8. Low real estate tax rates in Turkey compared to Europe.
