Share on LinkedInShare on LinkedIn

ARTICLE · 08 AUGUST 2022

New Regulation On Property Acquisitions By Non-Turkish Citizens

The Central Bank of the Republic of Türkiye (the "CBRT") made important amendments to Article 13 of the Capital Movements Circular (the "Circular")...

TurkeyReal Estate and Construction

Recent Developments

The Central Bank of the Republic of Türkiye (the "CBRT") made important amendments to Article 13 of the Capital Movements Circular (the "Circular"), which sets out the principles applicable to property acquisition. With the amendments to the Circular, the CBRT has introduced additional provisions to the FX payment requirement for non-Turkish citizens' property acquisitions. Please refer to our legal alert regarding the FX payment requirement for property acquisitions by non-Turkish citizens  here.

What do the additional provisions bring?

  • The upfront payment obligations under promise to sell agreements which non-Turkish citizens are parties to will need to be fulfilled in foreign currency.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from