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:

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

Brief information about Turkey

Turkey is a country located at a very strategic point where the three continents of the old world (Asia, Africa, and Europe) are closest to each other and where Asia and Europe meet. Because of geographical location, Turkey has always been important throughout history and is the birth place of many great civilizations.

A spectacular country surrounded by sea on three sides, with more than 300 natural and 130 artificial lakes, and almost %35 of its lands covered by forests and mountains, several rivers cutting the beaches to reach the seas makes the country even more attractive

Geography

Turkey's land mass is 814,578 sq km. The European and Asian sides are divided by the Istanbul Bogazi (Bosphorus), the Sea of Marmara, and the Canakkale Bogazi (Dardanelles). Anatolia is a high plateau region rising progressively towards the east, broken up by the valleys of about 15 rivers, including the Dicle (Tigris) and the Firat (Euphrates). There are numerous
lakes and some, such as Like Van, are as large as inland seas. In the north, the eastern Black Sea Mountain chain runs parallel to the Black Sea; in the south, the Taurus Mountains sweep clown almost to the narrow, fertile coastal plain along the coast. Turkey enjoys a variety of climates, ranging from the temperate climate of the Black Sea region, to the continental
climate of the interior, then, to the Mediterranean climate of the Aegean and Mediterranean coastal regions. The coastline of Turkey's four seas is more than 8,333 km long.

History

Turkey has been called "the cradle of civilization" and by travelling through this historic land, tourists will discover exactly what is meant by this phrase. The first city ever settled in the world with comparatively modern organizational systems such as agriculture, animal husbandry, and trading, was a Neolithic city Catalhoyuk, in central Turkey, dating back to 6,500 BC. From the days of Catalhoyuk up to the present, Turkey boasts a rich culture that through the centuries has made a lasting impression on modern civilization. The legacy of all those admirable cultures make Turkey a paradise of information and cultural wealth. Hattis, Hittites, Carians, Lelegians Phrygians, Urartians, Lycians, Lydians, Ionians, Persians, Macedonians, Romans, Byzantines, Seljuks, and Ottomans have all made important contributions to Anatolian history, and ancient sites and ruins scattered throughout the country give proof of each civilization's unique distinction. When you travel by car, within half an hour you can meet to an ancient city, remaining from those civilizations. Even in the ancient times, this fascinating country was respected by those ancient people, therefore it has been called as ANATOLIA, which means in ancient Greek, ''The lands, where the sun rises from '' as many vital initial ideas came into existence from her fertile lap. No doubt, people always have been proud of breathing on this amazing peninsula, combining different cultures, customs and traditions, and she, once again started to offer her hospitality to new cultures & people, by introducing a new law permitting foreigners to buy houses, who deserve to meet her affectionate and fertile lands.

Turkey also has a very fascinating recent history. Upon the decline of the Ottoman Empire, a young man named Mustafa Kemal, who was a soldier by occupation but in character, a great visionary, took the defeat of World War I and turned it into a shining victory by liberating Turkey from all foreign invaders. Mustafa Kemal Ataturk founded the Republic of Turkey on October 29, 1923. He led his country into peace and stability, with tremendous economic growth and complete, modernization. Through decades of change and growth, Turkey still boasts this success, living by its adopted motto of "Peace at Home, Peace in the World."

Population

According to the 2000 census, Turkey has 72 million inhabitants, 41% of whom live in the countryside. The major cities are: Istanbul (7.4 mil); Ankara, the capital (3.2 mil); Izmir (2.7 mil); Adana (1.9 mil); Antalya (I.I mil); and Bursa (1.6 mil).

Religion

Although Turkey is 99%. Moslem, it is a secular state that Guarantees complete freedom of worship to non-Moslems.

Tourism

In recent years, Turkey has become a major tourist destination in Europe. With the rapid development of both summer and winter resorts, more and more people from around the world are able to enjoy the history, culture, and beautiful sites of Turkey. From swimming in the Mediterranean, trekking in mysterious Cappadocia to skiing in Uludag Turkey has something to offer every tourist.

Political Structure

The Turkish Republic is based on a secular, democratic, pluralistic and parliamentary system where human rights are protected by law and social justice. The National Assembly is elected by popular vote and the nation is governed by the Council of Ministers headed by the Prime Minister. Turkey is a founding member of OECD, the Black Sea Economic Cooperation Organization, a member of NATO, the European Council and the European Parliament, and an associate member of the European Union.

Language

The Turkish language belongs to the Ural-Altaic ,group and has an affinity with the Finno-Hungarian languages. Turkish is written with the Latin alphabet and is spoken by some 150 million people around the world. Many people from the young generation especially in the touristic areas speak foreign languages mainly English, German and Russian.

Money

The money used in Turkish Republic is the Lira. As of January 2005, the Turkish government has taken the decision to drop 6 zeros from the Lira, the new lira is called 'Yeni Lira- YTL'. The coins is called the 'kurus'. Euros, British Pounds and US Dollars are very strong currencies towards Turkish Lira, offering foreign citizens a luxurious living at a low cost. Please see our FAQ's for further information on cost of living. Euros and US dollars are very commonly used currencies while shopping,
you may also exchange at the banks or at the exchange offices. In addition to Turkish Private banks, there are many international banks such as HSBC, Citibank, ABN Amro in major cities, with sub-branches or correspondent banks in the districts.

Property Ownership

Buying property in Turkey is a lot simpler now. The procedure is often far simpler than in most other European countries. Foreigners may purchase land and property in Turkey under their own names and when the time comes to sell, the proceeds of the sale may be transferred out of Turkey.