It is possible to make the payment via a third party. In order to do so, the third party should be authorized by a power of attorney letter to make payment of the sale.
Ask A Question | Learn more about Turkey
How should investors transfer money from abroad when buying property for CBI in Turkey?
Would an investor face any problem if the money is transferred to a third party first, like a broker, who then transfers the money to the developer's account? Or must the transaction be directly between the buyer and the seller?
Answers
-
-
Investors can either transfer money directly to the developer's account, or alternatively the investor can open a bank account in Turkey and then send the investment amount to their very own bank account in Turkey. Of course, sending the money to their local lawyer's account might be an option too.
-
It is better to send money for CBI directly to the vendor (or use the bank deposit option) or to a lawyer for the same purpose rather than to third parties. Although the receipts showing that the sufficient amount is received from abroad may still suffice, it may be problematic to use third parties (such as brokers) for many reasons.
-
As a rule, the investor must make payments from his own bank account to the seller's bank account. If the money transfer is made from the bank account of a third party to the bank account of the seller, the third party must be authorized to pay.
-
If the purchase of property is to be made to acquire citizenship by investment, the money transfer should be made directly between the buyer and the seller. The easiest option for a foreigner is to open a bank account in Turkey so that they can send the money to the seller. In order to acquire citizenship by investment, the broker cannot transfer money on their behalf.
-
The money has to be transferred from the account of the investor to the account of the developer. I suggest to the investor to open a bank account in Turkey. The investor can transfer the money from abroad to their own account and then from the Turkish account, the investor can transfer the amount to the developer's bank account.
Call Us
+1-800-347-9390
