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There are no barriers for the Russian investor in Turkey

15.08.2012

Clarification of the confusion associated with the latter provision, promulgated under the Law of mutualism governing the sale of real estate to foreigners in Turkey, pleased Russian investors.

It was announced that in accordance with regulation prepared by the Main Directorate of Land Registry Department of Immigration under the Ministry of Environment and Urban Development, which came into force on the eve, citizens of 183 countries, without resorting to the principle of mutualism, will become owners of real property, buildings, apartments and land plots .

Because this list is kept secret by the Ministry, in some areas there was confusion about the information. And the most important thing in all this was that the citizens of Russia and Ukraine will not be able to acquire property along the Black Sea.

However, sources in the Ministry hurriyet.com.tr contacted, sharing with us the fact that this information is incorrect, explained that in this sense for Russia and Ukraine will not put any restrictions relating to the acquisition of real estate.

The authorities stressed that the in whole imposed restrictions relate to what the citizens of neighboring with Turkey countries cannot buy real estate in the border provinces. Russia and Ukraine will not face this limitation because they do not have a common border with Turkey.

However, in accordance with this rule, for example, a citizen of Georgia cannot become the owner of the property in Artvin and Ardahane, which are neighboring provinces.

According to the new provision foreigners may acquire no more than 10% of a district area. In addition, a person can buy a maximum of 30 hectares of land, but this number can be increased by two times with the decision of the Council of Ministers.

In this regard, the citizens of 183 countries, as individuals, in accordance with certain criteria and the interests of the country may become owners of real property, buildings, apartments and land plots, except those located in the military and restricted areas, as well as in prior from a strategic point of view areas.



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