How to Buy Property in Turkey with Cryptocurrency
Many of our clients keep part of their savings in Bitcoin, Ethereum or other cryptocurrencies, and want to use them to buy a home in Turkey. That is possible, but not by paying the seller in crypto. Since 30 April 2021, a Central Bank of the Republic of Turkey regulation has prohibited using crypto assets, directly or indirectly, as a means of payment. A property in Turkey is therefore always paid for, and recorded on the title deed, in Turkish lira or a foreign currency.
What we do at CCT Investments is organise the whole route for you: your crypto is first converted into US dollars, euros or Turkish lira through the currency exchange offices we work with, and the property is then bought with that money, exactly like any other purchase.
How It Works, Step by Step
Step 1: Choose Your Property
Explore the projects on our website and tell us your budget in US dollars. We shortlist properties that fit it and, if you cannot travel, show them to you by video call.
Step 2: Tell Us What You Hold
Let us know which cryptocurrency you hold and roughly how much you plan to convert. We explain the route, the timing and the costs before anything is reserved, so you know how much the conversion will give you.
Step 3: Reservation and Checks
Once you have chosen, the property is reserved and checked: the title deed, any debts or annotations on it, and the building's status. A citizenship purchase also needs a valuation report before the title deed transfer.
Step 4: Convert Your Crypto
We organise the conversion with the exchange offices (döviz bürosu) we work with. You sell your crypto at the agreed rate and receive US dollars, euros or Turkish lira. The rate and the exchange office's fee are agreed before you transfer anything. Bring your passport; for large amounts, you may also be asked where the funds come from.
Step 5: Bank and Currency Exchange Document
Foreign buyers exchange their foreign currency at a Turkish bank, which issues the currency exchange document (döviz alım belgesi) needed at the land registry. We arrange each step with you: the tax number, the bank account and the exchange itself.
Step 6: Payment and Title Deed
The seller or developer is paid in money, through the bank, and the title deed is transferred to you at the Land Registry Directorate (Tapu Müdürlüğü). If you cannot be in Turkey, this can be done for you by power of attorney.
Step 7: After the Purchase
When you buy a new-build property through us, the title deed follow-up and our after-sales support are free. Rental management and other services, such as furniture, are quoted separately.
Conclusion
Holding your savings in crypto does not stop you from buying property in Turkey; you simply cannot pay with it directly. We organise both parts, the conversion through exchange offices and the purchase itself, so the property is bought in a way the title deed office accepts. Read our Buyer Guide for the whole buying process, or contact us to discuss your case.
Frequently Asked Questions (FAQs):
Q1: Can I pay for a property in Turkey directly with Bitcoin?
Answer: No. Since 30 April 2021, the use of crypto assets as a means of payment, directly or indirectly, has been prohibited in Turkey. Your crypto is first converted into money through an exchange office, and the property is paid for with that money. We organise both steps.
Q2: Which cryptocurrencies can be converted?
Answer: Bitcoin, Ethereum and other widely traded cryptocurrencies can usually be converted. Tell us what you hold, and we will confirm it before you reserve a property.
Q3: Can I get Turkish citizenship with a property bought this way?
Answer: Yes, if the purchase meets the citizenship conditions: a property worth at least USD 400,000 and a three-year no-sale annotation on the title deed. The purchase follows the normal rules, including the valuation report and the currency exchange document. The citizenship process takes about 180 days.
Q4: How long does the purchase take?
Answer: The conversion is arranged before the title deed appointment, so the purchase itself takes as long as a regular one.
Q5: Do I pay a commission to CCT Investments?
Answer: There is no commission for buyers on new-build projects; the developer pays our fee. For resale properties, our brokerage fee is 2% + VAT. The exchange office's conversion fee is separate.
