We are here to ensure guidance through every step of acquiring real estate in the UK, Turkey and Greece. As an international company with offices in London, Istanbul and Shanghai, Londonist Investments’ aim is to meet the customers with the right real estate investment. We help international investors explore the market in the UK, Turkey, Cyprus, Dubai and Greece, find the best options that meet their needs, and advise on the purchasing process.
We are here for you to make the best investment in the international real estate market with the experience of our team in the sector. We take real estate consultancy services one step further with our portfolio of commercial, residential and office investments in the UK, Turkey, Cyprus, Dubai and Greece.
To provide our clients a rich variety of properties that are affordable, sustainable, and profitable. To establish long lasting relationships based on trust, reliability, and honesty.
To offer a portfolio of properties to our clients matching their property investment needs with the best options in the market.
Turkish citizenship can be obtained through property ownership by purchasing a commercial or residential property in Turkey worth a minimum of $250,000. The property is not to be sold for a minimum period of 3 years.
Spouses and children under 18 can also be included in the citizenship application.
You don’t have to reside in Turkey for the application to be approved if you applied through ownership of a property.
Yes, as long as you fulfill the criteria of having acquired a property or multiple properties worth a minimum of USD 250,000 with a title deed restriction on its resale for at least three years and the expiry date of your passport is sufficient to cover the period required for the long term residency.
Yes, you can. An application can be made through a solicitor or by yourself.
Spouses and children under 18 can also apply for a residency.
No, the price of the property is not relevant.
The cost related to purchasing a property in Turkey are:
Purchase tax is 4%, and in some cases, the amount is equally divided between the customer and the developer, each paying 2%. There are some projects where the developer covers the full 4%.
There is VAT, which is 1% most of the time. The VAT can be either 1%, 8% or 18%. Units larger than 150m2 net are taxed 18% VAT.
The utility connection charges will be around 2000 TL and the maintenance fee is about 3 TL per m2 of your house.
Contract Stamp Duty is %0.01.
Compulsory Earthquake Insurance DASK insurance should be obtained upon the title deed exchange; it is 150 TL per year on average.
Contract stamp duty, which is 0,01% of the price and annual property tax, which is 0,02% of the price.
If the property type is residential in metropolitan cities, the tax applicable will be 0.02% if the property type is a workplace, tax applicable will be 0.04%. In other cities, if the property type is residential, the tax applicable will be 0.01%. If the property type is a workplace, the tax applicable will be 0.02%.
As a property owner, foreign investors do not have to pay any income tax. Income tax should be paid if the property is used for generating income, such as rent or reselling the property at a higher price.
Both foreign and Turkish property owners have the right to rent their properties to third parties.
Property owners have the right to increase the rent every year over the 12-month CPI average. Income tax would be applied over the rental income generated.
There are no restrictions on selling a property, whether you are Turkish or a foreigner.
If the property is sold less than five years from the purchasing date, income tax is applicable. If the property is sold five years after purchasing it, no income tax will be applied.
The process of owning a property in Turkey is quick and easy. Mainly in 7 steps, the property will be yours. The steps are as follows:
Once this process is completed, you are the property owner.
The easiest way to get a Turkish tax number is the online process. You can proceed by:
Following the steps below, you can easily open a bank account at any bank in Turkey and start to benefit from their services:
As an option, if you would like to, you can take advantage of credit opportunities to buy the property. You can use financing up to %50 of the evaluation of the related property.
Preparing the following documents, you can apply for a mortgage loan for purchasing the property you want to:
Yes, foreigners are allowed to own property in Tukey.
There are some restrictions to the following nationalities: Syria, Armenia, North Korea, Cuba, and Nigeria.
You are entitled to full ownership of the property called freehold. The law also gives rights to your family to inherit your investment. In case of your passing, your property will be acquired by your family.
It is freehold, meaning you have full ownership of the property for an unlimited period, and it is inheritable as well.
There is a very detailed and precise set of transactions that secure the title deed in your name for each property. Your contract is a public/official document transferred to the mortgage office or land registry to be known to every third party, which serves as proof of ownership.
It is the value set by the tax office based on rates calculated per sq.m. for a specific property each time, depending on its location, year of construction and characteristics. This value almost always differs and is less than the commercial value of the property.
There is a very detailed and precise set of transactions that secure the title deed in your name for each property. Your contract is a public/official document transferred to the mortgage office or land registry to be known to every third party, which serves as proof of ownership.
All property buyers in Greece must have a tax registration number, which can be provided by the tax service completely free of charge and very quickly by showing your ID or passport and completing an application. To buy a home in Greece, you must obtain a non-resident tax registration number (AFM) and the access codes to the "TAXIS" system.
Your lawyer ensures the legality of the property titles held by the seller, checks for any encumbrances, claims, defects in the property, the history of the acquisition of the property, the existence of a legal permit approved by the town planning or the non-existence of a debt to the public or Ί social security (IKA) concerning the property. They advise and guide you throughout the process. They also represent the buyer when he can not attend in person for the transaction. It is strongly recommended to be accompanied by a specialised lawyer when buying a property in Greece.
The notary secures both the buyer and the seller's interests and draws up the deed of transfer through which the buyer obtains the title to the property he/she buys. Before signing the notarial deed, the notary makes sure that both the buyer and the seller have fully understood what they will sign so that everything is clear and legal.
Yes, you can appoint a lawyer as your attorney and represent you in any process and practice.
Purchasing a property for leasing is considered a good investment in Greece. Especially touristic areas and seaside areas provide an average of 4% to 6% income. However, if rental income is obtained from the immovable property, foreign income tax is incurred. For this reason, annual taxation is applied at rates varying between 15% and 45%, depending on the annual declaration filing and the annual income amount. If the rental period does not exceed 90 days (60 days in the islands) in summer rentals, the rental income is exempted from taxation.
It is not legally required, but it is always a good idea to have a professional consultation.l
Greek citizens and foreigners can buy a house through a bank loan. The basic package of documents, which foreign citizens must submit to the bank to apply for a mortgage loan, includes the following: passport of their country of origin, photocopy of the foreign passport, income certificate, residence certificate, and, if any, Greek residence permit. Other documents, such as existing certificates of ownership, may be added to this list. All documents must be translated into Greek and certified by a lawyer.
The chances of a foreigner being granted a mortgage loan increase significantly if they receive their official income in euros. Unfortunately, in many cases, Greek banks are reluctant to lend both foreigners and Greek applicants due to the instability that prevails today in the world economy and the sharp fluctuations in exchange rates of national currencies.
There are some costs to becoming a homeowner in Greece. Acquisition costs, which include taxes and notary fees, rarely exceed 5%. Transfer costs are about 3% and legal fees vary between 1.5% and 5% of the property's value.
Once you become a homeowner, you must pay some related taxes such as property taxes. The Property Tax is assessed according to the price of the property concerned. Thus, the rate is 0.10% for a property over €200,000; 0.15% for a property over €300,000; 0.25% for a property over €400,000, then 0.35% for a property over €500,000 and so on. It is then 1.10% for a property of 2 million euros. Beyond that, the property tax applied is 1.15%. A foreign owner whose country is under a treaty with Greece is not subject to double taxation.
Yes, if the related party continues to own the property, they have the right to extend it for another 5 years each time.
The owner's family members also have an individual residence permit. Therefore, they must apply individually. Their residence permits are renewed and terminated simultaneously with the residence permit of the property owner. Family members discourse includes spouse and all their children under the age of 21.
According to Greek law, family members of foreign investors entering Greece are:
No. However, a residency permit holder can be a shareholder, a member of the board or CEO.
It is necessary only for those who come from a country whose citizens must have an entry visa for entering Greece.
Yes. The permanent residency and long-term permit offer the right of total freedom of movement in the EU.
Greek law requires that €250.000 must be the stated price on the contract without distinguishment between commercial and residential properties.
It does not grant direct access to Greek citizenship. However, it allows its holder to become a long-term resident, which is required to obtain citizenship.