CURRENCY PURCHASE DOCUMENT

The foreign currency purchase document is a document that is shown by the foreign buyer that they went to the Land Registry Office and that the foreign currency is sold in a bank operating in Turkey to be sold to the Central Bank before the sale is made.

Foreigners are obliged to exchange foreign currency in sales transactions when buying an immovable in Turkey. Persons who do not have citizenship yet must pay the payments for the real estate they will sell in Turkey in foreign currency, and when exchanging foreign currency, they will have to be careful that they exchange foreign currency as much as the sale price, otherwise it will not be taken as a basis and will not provide acceptance when applying for a certificate of conformity.

In order for the foreign currency purchase document to be accepted by the Land Registry Directorate, the name, surname, passport number or identification number of the person exchanging foreign currency, the US dollar equivalent of the foreign currency purchased, and a statement showing that this transaction was made within the scope of the “Circular on Capital Movements Article 13” must be included. It is not obligatory to purchase foreign currency only by the foreign applicant. It will be possible to be done by the seller of the real estate and their proxies or representatives, including the foreign person himself.

A foreign exchange purchase document may be required for a variety of reasons. A foreign currency purchase document is a must, especially for foreigners who apply for Turkish Citizenship. It is obligatory to obtain a foreign currency purchase document, both in obtaining citizenship through real estate acquisition or in purchases that will not result in citizenship. Payments on immovables previously purchased will be valid. Foreigners will be able to get the foreign currency purchase certificate by taking them to the Central Bank with a documented date of purchase.

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