INVESTMENTS

INVESTMENTS

Real estate acquisition of foreign and legal persons has been regulated in the article'35 of the Land Registry Law has been modified on July 3rd, 2003. By this amendment new regulations have been introduced concerning of real estate acquisition, in our country, of real persons of foreign nationality and trade companies having legal personality. With the facilities brought by the new law on ownership of property for foreign nationality personalities, until today the following number of properties have been sold to E.U citizens:
Insert Table showing number of real estate bought by E.U. citizens buying property in Turkey Source: www.tkgm.gov.tr

England	2699
Germany	1791
Netherlands	562
Greece	238
Ireland	452
Norway	178
Belgium	170
Austria	165
Denmark	195
Sweden	63
Finland	22
Italy	54

Turkey has a wide range of opportunities on offer for the foreign investor. Reasons for investing in Turkey include the following:

The country is strategically situated close to the Middle East and the European markets.

Agreements between Turkey and 39 other countries to promote and protect mutual investments as well as an agreement to preclude double taxation.

Customs union with E.U. since 1996

A candidate member of the European Union

A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.

A large labour force at relatively low costs

A modern infrastructure.

A well preserved European holiday destination.

The World Trade Organization considers Turkey to be one of the most dynamic countries.

Newly administered investment regulations for the foreigners