How to Transfer Money to Turkey for a Property Purchase?

Introduction: Why the Issue of Transferring Money Is Key

Buying real estate in Turkey is not only about choosing a property by the sea or in Istanbul, but also about solving the financial puzzle: how to legally and without unnecessary losses transfer a large sum across the border. For foreign buyers, especially from Russia, this part of the deal is often the most stressful. Restrictions, sanctions, commissions, currency control — all of this requires a clear understanding of the working tools.

In this article, we will break down all current methods of transferring money to Turkey for purchasing real estate: from classic SWIFT transfers to cryptocurrency. You will learn what a DAB certificate is and why you cannot register ownership without it, what commissions and limits apply in 2025–2026, and how to avoid blocks when sending large amounts.

International money transfer methods for buying real estate in Turkey

Main Rule: Only Cashless Bank Transfers

Let's start with a fundamental point: payment for real estate in Turkey is only by cashless bank transfer. This is not a recommendation, but a legal requirement. Cash payments when registering ownership are not allowed — the Land Registry Office (Tapu Müdürlüğü) simply will not register the transaction.

Moreover, a foreign buyer must go through the procedure of converting currency into Turkish lira within the country and obtain a DAB (Döviz Alım Belgesi) — Foreign Exchange Purchase Certificate. This document confirms that the funds were legally brought in and exchanged through a Turkish bank. Without a DAB, it is impossible to:

register the transfer of ownership (Tapu);
receive VAT exemption when buying a new build;
participate in residence permit and citizenship by investment programs.

Thus, no matter how you brought money to Turkey, the final step will always be conversion through a Turkish bank and obtaining a DAB certificate.

Diagram of a SWIFT transfer through correspondent banks

Method #1: Classic SWIFT Transfer

SWIFT remains the most reliable and common way to transfer large sums for a property purchase. Money goes through a network of correspondent banks and is credited to the seller's or developer's account in a Turkish bank.

What You Need for a SWIFT Transfer

Open an account at a Turkish bank. A foreigner will need a passport, tax number (vergi numarası), and a local address. Major banks — Ziraat Bankası, İş Bankası, Garanti BBVA, DenizBank, VakıfBank — open accounts for non-residents.
Get a tax number. It is obtained online or at the tax office with a passport. Without it, neither opening an account nor registering a Tapu is possible.
Know the exact recipient details: bank SWIFT code, seller's IBAN, payment purpose.

Timing and Fees

A standard SWIFT transfer takes 1 to 3 business days. The commission depends on the sending bank and the chain of correspondents — usually 0.5–1% of the amount, but some services charge a flat fee. Clarify the final commission in advance: intermediary correspondent banks may deduct additional amounts, and the recipient will receive less than expected.

Restrictions and Nuances for Senders from Russia

Since 2022, many Russian banks have been disconnected from SWIFT, but a number of credit institutions have retained access to the system. Additionally, transit transfer schemes through banks in Kazakhstan, Armenia, or Kyrgyzstan are working. Before sending, check with your bank whether a direct SWIFT transfer to Turkey is possible and what currency control codes need to be specified.

Method #2: Instant Money Transfer Systems

For amounts that do not exceed reasonable limits, money transfer systems are suitable. They are faster than SWIFT but have stricter limits on the maximum amount per transaction.

KoronaPay (Golden Crown) — one of the few services that work steadily with Turkey. Limits: up to 10,000 US dollars (or equivalent) per transaction. The commission varies, averaging 0.5–1.5%. Money can be received at branches of Turkish partner banks or credited to a local bank card.

Other systems — Contact, Unistream — also work with Turkey, but their availability and rates need to be checked at the time of transfer, as the situation changes.

Important: funds received through an instant transfer system will still need to be deposited into a bank account and converted through DAB for the real estate transaction.

Method #3: Cryptocurrency — an Indirect but Legal Route

Turkey is one of the world leaders in cryptocurrency adoption: around 4.8 million residents own digital assets. However, direct payment for real estate with cryptocurrency in Turkey is prohibited by law. You cannot simply transfer Bitcoin or USDT to a seller in exchange for an apartment — such a transaction will not be registered at the land registry.

Nevertheless, cryptocurrency can be used as an intermediate financing tool for the purchase. The process looks like this:

The buyer transfers cryptocurrency (USDT, BTC, ETH) to an account of a licensed Turkish crypto exchange (e.g., Paribu, BtcTurk, Binance TR).
The cryptocurrency is converted into Turkish lira or US dollars and withdrawn to a bank account at a Turkish bank.
From the bank account, a standard non-cash transfer is made to the seller with the issuance of a DAB certificate.

Since 2025, all crypto exchanges and crypto-asset service providers (CASP) in Turkey are under the supervision of the Capital Markets Board (CMB/SPK), which adds transparency to the transaction. The crypto route is especially relevant for Russian citizens facing SWIFT restrictions: USDT is easily convertible without reliance on correspondent banks.

Method #4: Brokerage Bridge

A relatively new but already tested method — using brokerage accounts in two jurisdictions:

A ruble brokerage account is opened in Russia.
A Turkish lira brokerage account is opened in Turkey.
Funds are transferred between accounts through the purchase/sale of securities or currency instruments, which allows bypassing direct restrictions on cross-border transfers.

This method requires the involvement of a qualified broker and is suitable for experienced investors. Commissions can be lower than with SWIFT with a long chain of intermediaries, but the scheme itself is more complex to implement.

Investing in Turkish real estate: money, home, and financial growth

Step-by-Step Guide: How to Legally Pay for Real Estate

Let's put all the steps into a single sequence — from preparation to getting the keys:

Get a vergi numarası — tax number. It is obtained at the tax office (Vergi Dairesi) or online via the Gelir İdaresi Başkanlığı website. A passport is required.
Open a bank account at a Turkish bank. Choose a bank with convenient internet banking. You will need a passport, tax number, and a local phone number to open an account.
Transfer money using your chosen method — SWIFT, via a transfer system, or a crypto exchange — to your Turkish account.
Convert the currency to Turkish lira and obtain the DAB. The bank will issue a Döviz Alım Belgesi — an official document confirming the exchange. Note: the amount on the DAB must match the amount stated in the purchase contract and the Tapu.
Pay for the property by bank transfer from your account to the seller's account. Keep all payment orders.
Register the Tapu at the land registry office. At this stage, you present the DAB certificate and proof of payment.

Limits and Currency Control: What You Need to Know

When transferring large amounts, keep in mind the current restrictions:

The Central Bank of Russia has set a limit on transfers by individuals abroad: up to 1 million US dollars per month to foreign accounts.
Through money transfer systems — up to 10,000 US dollars per transaction.
The Turkish side requires mandatory declaration of the source of funds for amounts related to real estate purchases.
For payments of 400,000 US dollars or more (threshold for citizenship by investment) or 200,000 dollars (threshold for residence permit by real estate), the verification of the source of funds is especially thorough.

It is recommended to prepare documents confirming the legal origin of funds in advance: income certificates, declarations, contracts for the sale of other property. This will speed up compliance procedures at the bank.

Comparison of Methods: Which One to Choose

The optimal choice depends on the amount, the country of origin, and your priorities in terms of speed and cost:

SWIFT — the best choice for amounts over 50,000 dollars. Reliable, transparent, suitable for direct payments to developers. The downside is a 1–3 day timeline and correspondent commissions.
KoronaPay / transfer systems — convenient for advances, deposits, and surcharges up to 10,000 dollars. Fast (minutes), but not suitable for the main transaction amount due to limits.
Cryptocurrency (USDT) — relevant for buyers from Russia and other countries with SWIFT restrictions. Requires an additional conversion step, but commissions may be lower and speed higher.
Brokerage bridge — a niche option for experienced investors willing to handle more complex logistics to save on commissions.

Conclusion

Transferring money to Turkey for a property purchase is a task that requires thorough preparation, but it is entirely doable. Key principles: always work through a bank, always obtain a DAB certificate, and consult with the receiving bank in advance about compliance procedures for large amounts. There are several ways to deliver money, and a combination of two channels (for example, SWIFT for the main amount and KoronaPay for the deposit) often proves the most practical. Plan the transfer in advance, allow 3–5 business days for all stages — and the transaction will go smoothly.