Incorporated trading companies, which are established according to the laws of their own countries, may acquire real estates in our country according to the special provisions in the applicable laws. There is no requirement to develop a project for the real estates acquired in this manner as they will be used in accordance with the purposes set forth in the reference legal provisions.

Companies with Foreign Capital are governed by article 36 of the Civil Registry Law No 2644, and the real estate acquisition procedure is also set forth in our circular numbered 2012/13. The requirement to develop a project, which is set forth in article 35 of the Land Registry Law No 2644, is not applicable for companies with foreign capital.