What Kind of Limitations apply for Acquisition of Real Estates by Foreigners?

What Kind of Limitations apply for Acquisition of Real Estates by Foreigners?

First of all, the foreign person, who would like to acquire a real estate, must be from a country, whose citizens are eligible to acquire real estates in our country as determined under article 35.

Under article 35 of the Land Registry Law No 2644, acquisition by foreign natural persons is only possible within legal limitations.

Under the Military Forbidden Zones and Security Zones Law No 2565, foreigners are not allowed to acquire real estates in military forbidden zones.

A foreign natural person may acquire real estates and limited rights in rem up to 30 hectare maximum throughout the country. The President is authorized to increase such size up to double.

Total area of the real estates and independent and continuous limited rights in rem acquired by natural persons of foreign origin may not exceed ten percent (10%) of the area, where private property is allowed, in a district.

Acquisition by foreigners is not allowed in strategic zones, which are determined as the zones where the foreign natural and legal persons are not allowed to acquire real estates by the President, and special security zones.

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