C&G Law Office
  • Home
  • Articles
  • Expertise & Experience
  • News
  • Cofounders
  • Legal Team
  • Contact
C&G Law Office » News » AMENDMENTS TO REAL ESTATE ACQUISITION LIMITS IN TURKEY FOR FOREIGN PERSONS AND FOREIGN COMPANIES

AMENDMENTS TO REAL ESTATE ACQUISITION LIMITS IN TURKEY FOR FOREIGN PERSONS AND FOREIGN COMPANIES

24 June 2016Nihan Geliş

Turkish Parliament adopted a new law which removes reciprocity principle that was barring citizens of 89 countries from owning a property in Turkey. In other words, it is no longer required that a foreign person’s home country allows for a citizen of the Republic of Turkey to acquire real estate in order for that foreign person to be able to buy property in Turkey.

With the new law, foreign buyers can purchase land up to the 10% of a town’s acreage or 30 hectares throughout the country instead of 2,5 hectares. On the other hand, the Turkish Council of Ministers may raise this amount up to 60 hectares. In any event, the local land registry office should take the approval from the Military in order to determine if the related land is or not in military or security zone.

Besides, under the new legislation, foreign companies established in accordance with their own country’s laws may acquire real estates in Turkey only in accordance with the provisions of special codes and only to conduct their areas of activity mentioned on their Articles of Associations. Thus; these corporations are required to submit their projects to the approval of the relevant Ministry within two years. If approved, the project will be sent to the local land registry office. The companies other than the said commercial companies cannot acquire real estates in Turkey.

Pursuant to the article 35 of the Title Deeds Law no. 2644, the Turkish Council of Ministers may determine, restrict, sustain totally or partially or prohibit the acquisition of real estate of foreign persons or foreign companies upon the country, citizen, geographical region, term, number, rate, category, qualification, areameter or quantity.

Legal Steps to follow for acquiring Real Estate of foreign investors can be explained as:

  • Checking Title Deed Registry of real estate if there is any restriction right on the property,
  • Request the approval of the competent National Military Authority which will be submitted following its research on the potential new proprietor and also on the real estate which is subject to an acquisition by a foreigner whether it is located out of Military Forbidden Zones and Security Zones or not,
  • Following the approval of the Military, the signature of the official sale agreement before the related Title Deed Registry in order to register the property in the name of the new proprietor,
  • Submitting a declaration to the related local municipality related to the new ownership

With the same regulation, it has been also determined that the location, registration, announcement and planning of the areas with protected status such as natural protected areas, wetlands, private environmental protection areas are under the responsibility of the Ministry of Environment and Urban Planning.

Previous post What is “Fitness for Purpose” ? Next post AIR LAW-PASSENGER RIGHTS

Benzer Yazılar

  • FOREIGN DIRECT INVESTMENTS
  • ACQUISITION DE BIEN IMMOBILIER EN TURQUIE PAR UN ETRANGER
  • VENTE FORCEE EN TURQUIE : QUELS RECOURS ?
  • NEW LAW ON INTERNATIONAL WORKFORCE ENTERED INTO FORCE CONCERNING THE EMPLOYMENT OF FOREIGNERS IN TURKEY AND WORK PERMIT FOR FOREIGNERS


Kategoriler

  • Articles
  • Expertise & Experience
  • News

Etiketler

AB agreement arbitration arbitration agreement cheque CISG consortium construction contract construction of energy production facilities contract dispute resolution dud cheque employer employment contract Eurpean Union findeks fit for purpose fitness for purpose foreign investment free trade free zone free zones in Turkey interbational arbitration International Carriage of Goods by Road international lawyer international road union international trade istanbul law lawyer Power Plant Engineering and Construction QR Code risk sale of goods tax exemption trade transportation Turkey Turkish Turkish companies Turkish Law Turkish Legal System VAT vienna convention warranty
Tüm Hakları Saklıdır C&G Law Office
Email
Facebook
Twitter
LinkedIn

Türkiye Barolar Birliği’nin meslek kuralları doğrultusunda hazırlanmış işbu websitesi içeriği, Avukatlık Meslek Ahlakı kurallarına uygun olarak düzenlenmiş ve Reklam Yasağı Yönetmeliği ile Avrupa’da Avukatların Tabi Olduğu Meslek Kuralları uyarınca güncellenmiştir. C&G Avukatlık Bürosu işbu websitesini müvekkillerinin ve diğer kullanıcıların sadece bilgi edinmesi amacıyla yayımlamış olup, işbu websitesindeki tüm içerik halihazırdaki en güncel hukuki gelişmeleri, karar veya uzlaşmaları yansıtmayabilir. İşbu websitesindeki bilgiler; reklam amaçlı olmayıp, yasal tavsiye niteliğinde değildir ve C&G Avukatlık Bürosu’nun ya da herhangi bir müvekkilinin veya çalışanının görüşlerini yansıtmaz ve bu bilgilerin doğru, eksiksiz veya güncel olduğu garanti edilmez. C&G Avukatlık Bürosu işbu websitesindeki içeriğin tamamı ya da bir bölümüyle ilgili olarak doğrudan veya kısmen herhangi birine karşı yapılan ya da yapılması ihmal edilen herhangi bir işlemden veya herhangi bir işlemin sonuçlarından dolayı ortaya çıkabilecek tüm sorumluluğu açıkça reddeder. İşbu websitesindeki bilgi aktarımı, gönderen ve alıcı arasında herhangi bir avukat- müvekkil ilişkisi oluşturma amaçlı değildir. C&G Avukatlık Bürosu, websitesi aracılığıyla ulaşılabilecek herhangi bir üçüncü kişi içeriği bakımından sorumluluk kabul etmez. Çok gizli bilgi olduğu için, C&G Avukatlık Bürosu, sadece referans amaçlı bile olsa, müvekkillerinin isimlerini açıklamaz. C&G Avukatlık Bürosu logosu, işbu websitesindeki bilgi ve bu bilgilere bağlı fikri ve sınai haklar, C&G Avukatlık Bürosu’na aittir ve ait kalacaktır; ve bunlar C&G Avukatlık Bürosu’nun yazılı onayı olmaksızın kullanılamaz, kopyalanamaz ve/veya çoğaltılamaz.

Bize yazın