Real Estate in Turkey Detailed Information About the Real Estate Law in | Page 2

company's board of directors, thus, The Company's right to own real estate is limited enough to
cover the Company's activities contained in the Company's contract.
Empty lands
According to Article 35 of the Real Estate ownership Law, foreign individuals or foreign
companies established in accordance with the laws of their country are obliged to submit the
projects that will be developed on the vacant, non-built lands and that were purchased by the
concerned ministries within two years from the date of purchase. According to Circular No. 1734
of the Ministry of Environment and Urban Civilization, in the case of approvals for projects that
will be developed on empty lands that are not built to the Department of Real Estate
Department, it is necessary to inform the registration data in the following form (the project
was approved by the Ministry, date, day etc.)
If the approved projects are not reported or not completed within two years, the local
administrative units of the Ministry of Finance will contact the Real Estate Department regarding
the liquidation of the property, where this shall be two years after the date of acquisition.
Foreigners wishing to invest or purchase property in Turkey are required to take into account
the following matters:
 Finding out if they can get the right to own real estate or limited rights in kind.
 Transfer of ownership of property in accordance with the laws and legislation in force in
Turkey.
 The total area of property purchased in all Turkey should not exceed 30 hectares.
 Getting to know if the properties they want to buy fall within a security or military zone
or areas that are not allowed to sell, because properties located in the security zones
may not be sold to foreigners.
 Visiting the real estate department and getting sufficient information regarding the
property in question, such as whether the landlord has the right to dispose of the
property or that the property in question is mortgaged or subject to any other action to