INTRODUCTION OF A MANDATORY SECURE PAYMENT SYSTEM FOR IMMOVABLE PROPERTY SALES IN TÜRKİYE

Cash-based practices in immovable property transactions in Türkiye have raised concerns regarding informality, fraud risks, and transactional security. Due to these concerns, cash-based practices in immovable property transactions in Türkiye have prompted regulatory efforts to enhance transactional security and reduce informality.

The Draft Regulation on the Amendment of the Regulation on Immovable Property Trade (“Draft Regulation”) has been prepared in this context, with the aim of making the secure payment system mandatory in immovable property sales, in order to ensure that buyers and sellers are not exposed to risks of fraud, theft and forgery, to reduce the informal economy, and to enable the transfer of funds in a secure environment.

Some of the key provisions highlighted in the Draft Regulation are as follows:

• In immovable property sales conducted by businesses and other real or legal persons, if the payment is made in cash, by remittance, electronic funds transfer or other payment methods determined by the Ministry of Trade, the sale price of the immovable property shall be paid through an electronic system established to ensure the simultaneous transfer of ownership of the immovable property and the sale price.
• In cases where part or all of the immovable property sale price is financed by credit institutions defined under the Banking Law No. 5411 or by financing and savings finance companies defined under the Law No. 6361 on Financial Leasing, Factoring, Financing and Savings Finance Companies, the electronic system shall be used for payments other than the credit amount.
• The service fee related to the use of the electronic system shall be deducted from the immovable property sale price transferred to the seller.
• It should be noted that, pursuant to the Draft Regulation, the use of the aforementioned payment system shall not be mandatory for immovable property sales carried out until 1 May 2026, and the Ministry of Trade is authorized to extend this period by up to three months.
• Finally, it is understood that the immovable property sales that will be excluded from the scope of the system have not yet been determined.

In this regard, we will inform you promptly once the Draft Regulation is adopted and enters into force.

Our Law Firm remains at your disposal for any further clarifications you may need.

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