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VAT EXCEPTION REGARDING THE PURCHASES OF IMMOVABLES IN TURKEY BY FOREIGN REAL AND LEGAL ENTITIES 2 December 2022
VAT EXCEPTION REGARDING THE PURCHASES OF IMMOVABLES IN TURKEY BY FOREIGN REAL AND LEGAL ENTITIES
What is the VAT exemption right granted to foreign real persons and entities?
The principle of reciprocity, which is required for foreign real persons to acquire real estate or limited real rights in Turkey, was abolished with the 2012 regulation in the Land Registry Law. In addition, citizens of 183 countries determined by the Cabinet Decision taken pursuant to Article 35 of the Land Registry Law, amended by Law No. 6302, have the right to own real estate in Turkey. Foreign nationals who are not residents in Turkey provided that it is applied on the first delivery of buildings constructed as residences or workplaces by adding subparagraph (i) to Article 13 of the Value Added Tax Law in 2017,...
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ACQUIRING TURKISH CITIZENSHIP BY PURCHASING REAL ESTATE 2 November 2022
ACQUIRING TURKISH CITIZENSHIP BY PURCHASING REAL ESTATE
What is citizenship acquisition through real estate acquisition?
Under the heading "Exceptional cases in the acquisition of Turkish citizenship" regulated by article 12 of the Turkish Citizenship Law, with Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, additional ways of acquiring Turkish citizenship have been introduced and one of them is the acquisition of citizenship through real estate acquisition. It means that people who fulfill the conditions determined by the legislation acquire citizenship if they buy an immovable that complies with the limits determined by the legislation.
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FOREIGNER'S RIGHT OF SUCCESSION 26 October 2022
FOREIGNER'S RIGHT OF SUCCESSION
Can foreigners be heirs in Turkey?
Being a citizen of a foreign state does not constitute an obstacle to being an heir in Turkey. On the other hand, determining whether foreigners have the title of heir is essential for the heir to acquire the goods. For this, it is necessary to obtain a certificate of inheritance from the Turkish Courts.
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ACQUISITION OF TURKISH CITIZENSHIP THROUGH DEPOSIT PLACEMENT 25 October 2022
ACQUISITION OF TURKISH CITIZENSHIP THROUGH DEPOSIT PLACEMENT
Who can apply for Turkish citizenship by deposit?
Persons who deposit $500,000 or $500,000 in foreign currency or Turkish Lira to banks operating in the Republic of Turkey provided that there is no obstacle in terms of national security and/or public order and that the conditions specified in the relevant legislation are met can apply for citizenship.
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THE REAL PROPERTY ACQUISITION OF FOREIGN LEGAL ENTITIES IN TURKEY 25 December 2020
Foreign Legal Entity Concept When determining the foreign legal entities, it is necessary to examine them in the form of partnerships, associations and foundations. Although partnerships are legal entities established for the purpose of sharing profits in this respect, there is no profit purpose in associations and foundations. The provisions of the Turkish Commercial Code determine whether a partnership carries foreigners under Turkish law. According to this, partnerships established under Turkish law and with the headquarters in Turkey are considered Turkish partnerships, while partnerships outside Turkey are considered foreign. The branches of abroad-based partnerships in Turkey are registered as Turkish commercial enterprises and carry the nature of the foreign center.
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What Are The General Conditions of Acquiring Turkish Citizenship? Who Is Given This Right? 18 November 2019
Due to the new regulations and the conveniences introduced for the exceptional acquisition of Turkish citizenship, the matter of the conditions under which Turkish citizenship can be acquired have been occupying the agenda recently. In this context, the general conditions of acquiring Turkish citizenship and who can benefit from this right are discussed in this study.
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What is the Legal Basis of Acquiring Immovable Property in Turkey by Foreigners? 22 October 2018
What is the Legal Basis of Acquiring Immovable Property in Turkey by Foreigners?
Article 35 of the Land Registry Law No. 2644 has been amended by the Law No. 6302 which entered into force on 18 May 2012. Accordingly, the condition of reciprocity with regard to acquire immovable property in Turkey by foreigners has been abolished. In this context, those countries whose citizens can acquire immovable property in Turkey in certain specified conditions, has been identified by President. With the said amendment, the Law has entitled the citizens of 183 countries to acquire immovable property “without the condition of reciprocity”. The most important reason of the said amendment is to enable Turkey for foreign investors’ acquisitions due to considerable interest to immovable property investment...
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An Alternative Dispute Resolution For Foreign Investors: ICSID 4 December 2017
The ICSID (International Centre for Settlement of Investment Disputes, “Centre”) Arbitration is a popular alternative dispute resolution system for disputes that arise between the states/the administrative bodies of states and the companies which contain foreign capital.
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Nationality of the Arbitral Awards 5 July 2017
In order to enforce foreign arbitral awards in Turkey, recognition and/or enforcement of the arbitral awards should be requested by filing a case before Turkish courts. Contrarily, local arbitral awards do not require any additional recognition and/or enforcement decision from Turkish courts to be enforceable in Turkey. In other words, local arbitral awards are directly enforceable in Turkey as of the date of rendering of the decision. Therefore, it is important to determine whether an arbitral award is foreign or local.
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Istanbul Arbitration Centre and Arbitration Rules 12 April 2017
The Istanbul Arbitration Centre (ISTAC), established by Law numbered 6570 dated 20.1.2014, is an independent, neutral and impartial institution providing efficient dispute resolution services for both international and domestic parties. The ISTAC’s dispute resolution services are available to all contracting parties, without any membership requirements.
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