What is Döviz Alım Belgesi?

One of the most important documents that the Tapu Office (TAPO) or the Deed Office of Turkey requires from foreign investors intending to purchase property in Turkey, to register the property’s deed in their name, is the Döviz Alım Belgesi. The Döviz Alım Belgesi, or Currency Exchange Certificate, is a document that foreign investors must obtain from one of the Turkish banks when buying property in Turkey.

This document shows that you have converted foreign currency into Turkish Lira at the bank and have brought foreign capital into the country. This certificate is one of the mandatory documents for issuing a property deed to foreigners who buy property in Turkey. To learn more about this document and its details, stay with us until the end of this article.

The Importance of the Döviz Alım Belgesi for Buying Property in Turkey

According to Article 13 of the Investment Law in Turkey, foreign individuals who wish to purchase property in Turkey are required to convert the amount equivalent to the property’s purchase price—which must be in U.S. dollars, euros or pounds—into Turkish Lira and deposit the Lira into the seller’s account. To do this, you open an account in one of the reputable Turkish banks, such as Ziraat Bank and transfer your money in dollars, euros or pounds to this account.

The bank converts your money into Lira based on the current exchange rate and issues you a document called the Döviz Alım Belgesi or Currency Purchase Certificate.

How to Obtain the Döviz Alım Belgesi?

Once your bank account as a foreign buyer is opened, you must deposit the money in dollars, euros or pounds into the account. However, for Iranian buyers, due to existing sanctions and the inability to open dollar accounts, they must transfer their money in euros or pounds.

When the money is deposited into the account, you must inform the bank that this amount is for the purchase of property in Turkey. At this stage, the bank will request complete property information from you, including the property deed. The bank prepares the Döviz Alım Belgesi based on the property’s details, your tax identification number, and your passport number. It records this information on the document and performs the currency conversion to Lira.

After the currency conversion is completed and the bank has prepared the Döviz Alım Belgesi based on the property and buyer’s information, this document is stored in a system called KEP. KEP is a system that allows official correspondence to be conducted electronically in compliance with laws, international standards and in a technically secure manner.

The Turkish Land Registry Office checks the validity of the Döviz Alım Belgesi—which is among the documents provided by the foreign buyer—via the KEP system.

Note that issuing the Döviz Alım Belgesi means converting the foreign currency in your account to Lira and does not mean transferring it to the seller’s account. We inform the bank of the date of the transfer of the ownership deed. On that day, the bank deposits the money into the seller’s account or their legal attorney’s account. This system is completely secure, and the money is only transferred on the date of your presence at the Deed Office and only to the seller’s account (or their official and legal attorney).

How Much Should the Amount on the Döviz Alım Belgesi Be?

The amount on the Döviz Alım Belgesi must be exactly equal to the property’s price stated on the deed and the amount on the property valuation report. This amount is $400,000. In fact, one of the main conditions for approving these documents for registering the property deed in your name and obtaining a Turkish passport is that the amounts on the property deed, the property valuation report, and the Döviz Alım Belgesi must all be equal to the citizenship threshold of Turkey, which is equivalent to $400,000.

Even if you have purchased several properties, the total value of these properties and their currency purchase certificates must still be equal to $400,000. This issue is very important, and if any of your documents—including the Döviz Alım Belgesi—has a problem, you will encounter issues in the process of registering the deed in your name and applying for citizenship.
We suggest you to read the article “Buying Homes and Property Turkey” to read more.

What Documents Should We Provide to the Bank to Obtain the DAB?

To obtain the Döviz Alım Belgesi, first, you need to open an account in one of the Turkish banks. The documents required for opening an account are as follows:

• Being at least 18 years of legal age
• Providing a valid passport
• Providing a Turkish tax identification number (Vergi Numarası)
• Physical presence at the bank branch
• Providing personal details, address, and a Turkish phone number

After opening the account, you must transfer the desired amount to your account via remittance in foreign currency (dollars, euros or pounds). At this stage, and for issuing the currency purchase certificate, you need to provide the following documents:

• Property deed
• Property purchase contract
• Name and account number of the owner or property seller

Will Our Money Lose Value by Obtaining the Döviz Alım Belgesi from Turkish Banks?

Some investors think that if they exchange their money to dollars or euros at the bank, they will incur a loss. They believe that the bank will convert their money at the lowest daily rate, but this is not the case!

To support foreign investors and those who intend to purchase property in Turkey, the Turkish government buys their currency at rates even higher than the rates at which dollars and euros are exchanged in the Grand Bazaar of Istanbul. This ensures that their motivation for investing in Turkey remains high and they do not feel that they have incurred a loss in the very first step of buying property.

Important Points for Obtaining the Currency Purchase Certificate

To obtain the Döviz Alım Belgesi, you need to observe these points:

1. The buyer’s first and last name, along with the property details and the phrase “sermaye hareketleri 13. maddesi”, should be mentioned in this certificate.
2. Instead of one Döviz Alım Belgesi, you can use several documents and convert your money in multiple stages.
3. If you have purchased several properties and have a Döviz Alım Belgesi for each, the total amounts must be equal to the amount on the property deed or Tapu.

For more information about this document and the process of obtaining it, we suggest that you speak with our professional consultants at hometurkie and take advantage of our free consultation.