Real Estate Acquisition In Kusadasi and Turkey

www.housekusadasi.com Real estate acquisition of foreign real and legal persons has been regulated in the Article 35 of the Land Registry Law numbered 2644 with law numbered 5444 and dated December 12,2005 which was established in the Official Gazette of 26046 numbered and dated January 7,2006. New fundamental principles was regulate with this new law for acquisition real estate of foreign real persons and and trade www.oguzhanturan.com companies having legal personality and established in foreign countries according to the laws of these countries in Turkey. New form of the article 35 of the Land registry Law is as follows: “With the reservation of reciprocity and compliance with legal restrictions, foreign real person can acquire real estates for the purposes of using as residence or business aims in Turkey that are separated and registered for these purposes in the implemented development plans or localized development plans. The same conditions shall be stipulated in the establishment of limited real rights on real estates. The total area of the real estates and limited real rights on real estates that a real person of foreign nationality can acquire all over the country can not exceed 25.000 m2. Within the same conditions set out in this paragraph Council of Ministers is authorized to increase the area up to 30 hectares. www.realtyworldkusadasi.com Copyright © 2006 MODA REAL ESTATE & CONSTRUCTION LTD. www.houseinkusadasi.com

02.04.2006