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Foreign land ownership bill in Parliament
Foreign land ownership bill in Parliament
Foreigners Allowed Limited Acquisition of Turkish Land
Voices Newspaper
Sunday, November 20, 2005
A new legal amendment bill that would enable foreigners to acquire real estate in Turkey is under consideration, following the cancellation of the Turkish Constitutional Court of the former amendment.
The amendment bill, that is currently before Parliament and which envisages changes in the current Land Registry Act, taking into account the grounds of the Constitutional Court’s previous cancellation, foreigners will be allowed to acquire real estate in Turkey. According to the new amendment bill, foreigners can acquire at most 25,000 square meters (2.5 hectares) of land in Turkey, an area equal to the total area of five football fields. However, the cabinet will have the authority to increase the amount of land allowed up to 30 hectares. The amount of land that foreigners will be able to acquire must not exceed five thousandth of the area of the province in which it is located. Foreign nationals will thereby have permission to acquire immovable property zoned for residential and industrial use in conformity with the principle of reciprocity and legal limits, and in the areas under the authority of the building development regulations and the local building development regulations. The corporate entities that are established according to the laws of foreign countries can acquire “limited real rights” upon the immovable property ownerships and immovable properties.
The date that the amendment is expected to come into effect has been determined as 26 July 2005, the date the Constitutional Court’s cancellation came into effect, so that no legal vacuum arises.
According to the information received from land registry circles, the bill does not allow foreigners to acquire land in villages, as the law will only enable foreigners to acquire land or properties zone as residential and industrial for use in the areas that fall under the authority of the building development regulations. This point is said to forbid the acquirement of agricultural lands by the foreigners. The amendment will thereby preclude the criticism that Eastern and Southeastern lands of Turkey are being taken over by foreigners. Another reason for disallowing foreigners to acquire agricultural lands in Turkey is to prevent the division of these lands by foreigners, following the example of other European Union candidates.
Communities are not allowed to acquire immovable property
Foreign companies will be entitled to real estate ownership and limited rights under special clauses. Foundations, societies, co-operatives, associations, groups and communities, other than real and corporate persons, will not be allowed to acquire unmovable properties in Turkey, and will not be accorded limited real rights for their benefit. In the case of the death of the citizens of foreign states in relation to which the reciprocity principle does not hold, their estates will be liquidated and transfer procedures will be followed. In the determination of reciprocity the legal and the factual circumstances will be taken into account.
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