Turkish facilities for investors | plan 2021

Turkish real estate facilities for investors

A package of Turkish facilities for investors as involved in Turkey’s new Human Rights Action Plan, which announced by The Turkish Ministry of Justice, 2021.

In this article you read:

Special facilities for foreign investors in Turkey

Turkish Judicial system modifications

 

The new Human Rights Action Plan involves the many of various edits of Legal Transactions in Turkey. These Transactions facilitate the Lives of  Turkish Citizens and foreigners whether they are investors or residents in the country.

Special facilities for foreign investors in Turkey

These legal modifications have involved several points of the Turkish Governmental facilities for investors in the new Action plan. It is It is illustrated by the following points:

  • Adherence to EU standards for foreign investment.

New Legal amendments require parties to deal with EU standards for Foreign Investment. This is in accordance with the European Court of Human Rights decisions. This is included within what is related to keeping foreign investors rights. This is by its role meets the requirements of the free market which contributes in attracting foreign investors towards a safer investment environment.

  •  The Concern with handling the legal problems for foreign investors.

These legal modifications aim at quick solving of the legal problems that foreign investors face. This is through establishing an administrative entity which in particular deals with foreign investors disputes and solving their problems in Turkey quickly and effectively.

  • Smooth liquidation of foreign companies

The new Legal modifications legal methods provides smooth liquidation of foreign companies. These legal modifications enable Companies owners in Turkey in dissolving and closing their companies smoothly than before. As well, this dissolving will be involved in steps free of past complications that hinder the Liquidation of companies in Turkey.

  • Noter Digitization is included in Turkish facilities for investors.

It is expected that the notary system in Turkey, known as the Noter will be turned into digital system. This digital system removes the burdens result from the continuous going to Noter offices. This continuous going results from the fact that many actions foreign investors need to review the notary’s offices in Turkey.

As well, it is expected that digital system contributes in decreasing crowd cases. The crowd happens as foreign investors always need the notary’s office in Turkey to validate the official documents and to verify the various contracts and to make permits as well.

It is worth mentioning that, all foreign documents should be translated in authorized way into Turkish. After that these documents should be verified by the notary to be accepted in Turkish Legal transactions. Once it is turned into digital, all foreign investors transactions in Turkey will be easy and rapid.

  • Implementing real estate sales through notary’s offices.

In line with Turkish facilities for investors, the new modifications will make notaries responsible for implementing and verify the real estate. This is after being an affair of monopoly on Public Title Registry Offices “Tapu administration “.

الاستثمار العقاري في تركيا

 

Since the wide spread of Notary’s offices in Turkey, this procedure can make it easier and faster in the operations of property transfer in the Turkish real estate market widely.

 

Turkish Judicial system modifications

The new Action plan has provided new Legal modifications that include special facilities in judicial fields such as:

  •   Rising the rate of human resources in the Turkish Judiciary.

The new Governmental modifications aim at rising the rate of human resources in the Turkish Judiciary. This is in order to makes changes that are accurate concerning courts decisions.

  • The expansion of specialized courts Branches in the Turkish Judiciary.

In Turkey, the need to specialized courts is increased. This courts consider and focus on more specialized issues. That’s why, these new modifications have stated the increase of specialized courts Branches.

The real reason is that public courts became full of many and various issues which result in the non accurate taken decisions. This reflects the impossibility to adopt all various issues under the control of the same court.

  • Turkish online courts system activation.

During the mid of 2020, The Turkish authorities planned for making online courts. These courts aim at holding courts sessions via internet without the need for dispute parties to attend. Then, this system will be activated in the majority of Turkish courts. As a result, court sessions are online held, then become a faster in developing.

  • The activation of Time limit mechanism for judicial operations.

It helps in the duration consumed in judicial procedures which urge citizens and even foreigners in Turkey to resort to court to safe and secure their rights.

  • Adopting alternative methods for Judicial Arbitration.

For resolving disputes, Turkey make new methods included through Turkish facilities for investors. As this new action plan helps in resolving commercial disputes in some cases away from courts by mediation and arbitration.

  • Indication of required duties for Judicial transactions.

This step entirely aims to clarify the mechanism of judicial procedures duties that are required by foreigners and Turkish citizens.

There are various types of duties that should be paid to courts, law enforcement offices and notary’s offices. That’s why, it seems to be difficult for foreigners to follow these duties’ details.

 

Briefly, it was just a demonstration of Turkey’s most visible facilities for investors. They are included in 2021 Governmental Plan, which enhances the presence of foreign investments of Turkey in various sectors such as Real estate development sector as the most important.

If you are interested to know the more about this section and to choose the best of guaranteed real estate projects, it will be our pleasure to contact Extra Property team. This team is responsible for providing real estate and legal consulting, post-sale services and everything related to Turkish real estate.

 

Edit: Extra Property.

Sources: Anadol+ Al-jazera

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