It should be noted that, the condition of reciprocity is removed for the property acquisition of foreigners with the Draft Version. The maximum area to be purchased by a foreigner is increased from 2,5 hectares to 30 hectares with the condition of a project. However, the Council of Ministers reserves the authority to double such area in case of public welfare. In addition, in the event that a foreigner intends to purchase an empty land of 100 decares, he also has to develop a relevant project. Following the said draft becomes law upon the decision of the parliament; foreigners will be able to purchase property from all sides of Turkey provided that they comply with the legal limitations. The Ministry of Environmental and Urban Planning and Ministry of Finance will determine the areas to be purchased within the provinces and counties.
The foreigners that are the citizen of the countries which are determined by the Council of Ministers will be able to purchase property in Turkey. The list of such countries will be determined by the Ministry of Environmental and Urban Planning and Ministry of Finance upon the consideration of the Ministry of Foreign Affairs.
Military and Strategic Areas are to be Preserved
In accordance with the Draft that foresees an amendment in the Land Register Law, the properties and the limited real rights obtained by way of inheritance by the natural persons that are not within the list determined by the Council of Ministers are to be liquidated. Commercial companies that are established in line with the laws of their countries may obtain property and limited real rights within the provisions of special laws. On the other hand, map and coordinate information of the restricted military areas, military security zones and strategic areas shall be designated in 6 months at the latest with the amendments related to such map and coordinate information. Map and coordinate information of such military zones shall be delivered by the Ministry of Defense and map and coordinate information of special security areas shall be delivered by the Ministry of Internal Affairs to the related Ministry where the General Directorate of Land Registry and Cadastre is subject to. All map and coordinate information are deemed to be delivered following six months of the enforcement date of the Law.
In brief; following the enforcement of the Draft; the citizens of the countries that are to be determined by the Ministry of Environmental and Urban Planning and Ministry of Finance will be able to purchase property within the borders of Republic of Turkey just like a Turkish citizen provided that such property is not restricted by the Ministry of Finance.
