Corporate and M&A

Contact: Naciye Yılmaz; Erdem & Erdem (Turkey)

Companies with foreign capital and foreign real persons may purchase immovable property in Turkey. However, this possibility has certain legal limitations. Within the framework of this Newsletter Article, the acquisition of immovable property by foreign real persons shall be examined.

Legal Grounds

As per the Land Registry Law No. 2644 ("Land Registry Law"), it is possible for foreign real persons to acquire immovable property in Turkey. The reciprocity condition regulated under the former Article 35 of the Land Registry Law was abolished by the amendments brought by Law No. 6302. Therefore, Article 35 of the Land Registry Law reads as follows: "in order to comply with the legal restrictions, foreign real persons, citizens of countries determined by the Council of Ministers pursuant to international relations and the country's benefits may acquire immovable property and rights in rem in Turkey".

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