Turkey passes law on property sale to foreigners

Under the law, foreign companies can only purchase immovables in military zones, security zones and strategic regions if the General Staff or any command it authorizes, permits.

Turkey passes law on property sale to foreigners
Turkish parliament adopted on Thursday a bill on sale of real estates to foreign companies and joint ventures.

The top court of Turkey (Constitutional Court) annulled the law on March 12th.

The law enables foreigners to purchase real estate up to 10 percent of areas in the zoning plan.

The law authorizes the Council of Minister to change the percentage (not more than 10 percent), taking into consideration the significance of towns in terms of infrastructure, economy, energy, environment, culture, agriculture and security.

Under the law, foreign companies can only purchase immovables in military zones, security zones and strategic regions if the General Staff or any command it authorizes, permits.

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Last Mod: 04 Temmuz 2008, 13:32
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