Last Updated on April 3, 2025 by Ideal Editor
Exciting news! Turkey lifts foreign currency payment ban for movable sales!
In a significant policy shift, Turkey lifts foreign currency payment ban for movable property sales, with the exception of vehicle transactions. This development, announced in the Official Gazette on March 6, 2025, allows individuals and businesses to conduct transactions in foreign currencies for various movable assets. This article delves into the implications of this change, particularly concerning real estate transactions, and explores how Ideal Estates Realtors can assist clients in navigating this new landscape.Understanding the Policy Change
The Turkish government has amended the “Communiqué on the Protection of the Value of Turkish Currency” (Communiqué No: 2008-32/34) through Communiqué No: 2025-32/72. This amendment permits Turkey-based individuals and entities to set and fulfill payment obligations in foreign currencies for movable property sales contracts, excluding vehicle sales. Previously, while contracts could be denominated in foreign currencies, payments were required to be made in Turkish Lira. The change allows both the contract and payment to be made in foreign currencies.
Implications for Real Estate Transactions
It’s crucial to distinguish between movable (menkul) and immovable (gayrimenkul) properties in this context. Movable properties include items that can be physically relocated, such as furniture, electronics, and machinery. Immovable properties refer to real estate assets like land and buildings. The recent amendment specifically pertains to movable property sales, meaning that the foreign currency payment flexibility does not extend to real estate transactions. Real estate transactions in Turkey must be conducted in Turkish Lira, as per regulations.
How Ideal Estates Realtors Can Assist
At Ideal Estates, we understand that navigating the complexities of property transactions in Turkey requires expert guidance, especially in light of evolving regulations. Our team of experienced professionals is dedicated to providing comprehensive support to clients, ensuring that all transactions adhere to legal requirements and are conducted smoothly.
Our Services Include:
- Regulatory Compliance: We keep abreast of the latest legal developments to ensure that your property transactions comply with current laws and regulations.
- Market Analysis: Our in-depth market analyses provide valuable insights into property values and trends, aiding clients in making informed decisions.
- Negotiation Support: We offer expert negotiation services to help clients achieve favorable terms in their property dealings.
- Documentation Assistance: Our team assists in the preparation and review of all necessary documentation, ensuring accuracy and completeness.
- Post-Sale Services: We provide ongoing support even after the transaction is complete, assisting with property management and other related services.
Partnering with Ideal Estates helps clients navigate the Turkish real estate market with a trusted advisor.
The lifting of the ban on foreign currency payments for movable property sales marks a significant shift in Turkey’s economic policy, offering greater flexibility for such transactions. However, it’s important to note that this change does not impact real estate transactions, which must still be conducted in Turkish Lira. For those involved in the real estate market, staying informed about regulatory requirements is essential. Ideal Estates Realtors stands ready to assist clients in navigating these complexities, ensuring that all transactions are conducted legally and efficiently.
FAQs on Turkey lifts foreign currency payment ban
1. Can I now buy real estate in Turkey using foreign currency?
No, the recent amendment allows foreign currency payments only for movable property sales. Real estate transactions must still be conducted in Turkish Lira.
2. What qualifies as movable property under the new regulation?
Movable property includes items that can be physically relocated, such as furniture, electronics, and machinery.
3. Are vehicle sales included in the foreign currency payment allowance?
No, vehicle sales are explicitly excluded from this amendment and must be conducted in Turkish Lira.
4. How does this change impact businesses dealing with movable assets?
Businesses can now conduct sales and receive payments in foreign currencies for movable assets, providing greater flexibility in international transactions.
5. How can Ideal Estates assist me with property transactions in Turkey?
Ideal Estates provides services like regulatory compliance, market analysis, negotiation support, documentation assistance, and post-sale services for smooth property transactions.
Ready to Navigate Turkey’s Real Estate Market?
Contact Ideal Estates today for expert guidance and support in your property transactions. Our team is here to ensure a seamless and compliant experience.
