Foreigners need to convert their foreign exchange to Turkish Lira and get a currency exchange document (DAB) to buy a property in Turkey. Currency exchange document is required to get an appointment for a property purchase in Turkish Title Deed offices. Currency exchange document is called Döviz Alım Belgesi in Turkish and its abbreviation is DAB.
Foreigners can get currency exchange document in two ways. The first option is opening a bank account in Turkey and transferring foreign exchange (USD, EUR, GBP) to your Turkish bank account. The foreigner can use his bank to convert USD, EUR, GBP to Turkish Lira and get a Currency Exchange Document for the property purchase. Second option is sending USD, EUR or GBP directly to the property seller’s bank and the property owner can make the currency exchange document from his bank.
When you get a currency exchange document for a property purchase, you need to provide the title deed details of the property, its sales price and also the passport details of the foreigner who will buy the property. The bank will convert the foreign currency to the Turkish Lira by using the currency exchange rates of the Central Bank of Turkey. When the currency exchange document is ready, you can present it to the title deed office to get the appointment for the property purchase. It takes a few hours to get the currency exchange document.
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