It is important for us to enlighten your way with all kinds of information. Longevity is a key aspect when it comes to investment, and in this regard, foreign investors will be delighted to hear Turkish inheritance laws. Unless a property owner has a notarized will, the legal successors of an immovable property in Turkey are decided by the following order of succession: The spouse and children are the first heirs. They will be given a predetermined portion. If there are no children, the property is automatically passed down to the parents as heirs. If the dead owner’s parents are no longer living, the estate will be passed down to the deceased owner's siblings. Finally, the deceased’s grandparents and their offspring come last in the line of succession. If the deceased has no living relatives, the estate passes to the Republic of Turkey.
With a fairly reasonable rate of inheritance tax, Turkey taxes 1% for values up to $58,000, 3% for value of $186,000, 5% for value of $466,830, 7% for value of $1,013,000. Turkey takes the payment of this tax within a three-year period. This taxation applies to both Turks and foreigners in Turkey.
Property inheritance
It is important for us to enlighten your way with all kinds of information. Longevity is a key aspect when it comes to investment, and in this regard, foreign investors will be delighted to hear Turkish inheritance laws. Unless a property owner has a notarized will, the legal successors of an immovable property in Turkey are decided by the following order of succession: The spouse and children are the first heirs. They will be given a predetermined portion. If there are no children, the property is automatically passed down to the parents as heirs. If the dead owner’s parents are no longer living, the estate will be passed down to the deceased owner's siblings. Finally, the deceased’s grandparents and their offspring come last in the line of succession. If the deceased has no living relatives, the estate passes to the Republic of Turkey.
With a fairly reasonable rate of inheritance tax, Turkey taxes 1% for values up to $58,000, 3% for value of $186,000, 5% for value of $466,830, 7% for value of $1,013,000. Turkey takes the payment of this tax within a three-year period. This taxation applies to both Turks and foreigners in Turkey.