Foreign Currency Exchange Certificate
What is a foreign currency exchange certificate ?
A foreign currency exchange certificate is a document showing that the foreign currency is sold to a bank operating in Turkey to be sold to the Central Bank before the sale transaction is made by the foreign buyer at the Land Registry Office.
As of January 24, 2022, foreign buyers are obliged to exchange foreign currency to the Central Bank in real estate transactions. With this application, as of January 24, 2022, foreign real persons are obliged to submit a foreign currency exchange certificate for the acquisition of real estate through purchase. In this context, persons who do not have citizenship ties with the Republic of Turkey are required to fulfill the payments of the real estates purchased in Turkey in foreign currency.
Before the title deed process, money in foreign currency up to the full amount of the sale price must be sold to the bank by notifying the requirement.
The money can be sold directly to the bank by the foreign buyer or his/her proxy. The important thing is that the sale of foreign currency is realized before the title deed transaction.
It is not possible to exchange money in foreign currency at a foreign exchange office or by hand.
Information that must be included in the foreign currency exchange document ?
- Name and surname of the foreign currency exchanger.
- Passport number of the person exchanging foreign currency.
- Turkish currency and its equivalent in US dollars.
You can check the official government page about the foreign currency exchange certificate link or you can consult us