January 2009
THE REGULATION ON THE ACQUISITION OF REAL PROPERTY BY FOREIGN CAPITAL COMPANIES WAS PUBLISHED
“The Regulation on the Acquisition of Real Property by Foreign Capital Companies” was published in the Official Gazette No. 27052 dated November 12, 2008, and entered into force from the publication date. It was prepared on base of Article 36 paragraph 4 of the Deed Law No. 2644, dated 22.12.1934 and regulates procedure of and guidelines on acquisition of real property and limited real rights and their execution by legal entities established by foreign investors in Turkey.
In accordance with this Regulation, the legal entities, which are established by foreign investors in Turkey, may acquire real property in result of investigation and evaluation of the commissions within the Governorships. If the mentioned companies would like to acquire a real property and/or limited real rights they should apply to the Planning and Coordination Directorate of the Governorship, where the property is located, with determined information and documentations.
After an application was made, the Governorship shall investigate and ask to the related bodies whether the claim to acquisition of the property is within the frame of business activities of the company as determined in the Articles of Association; whether the property is located in the Prohibited Military Zone, the Military Safety Zone or in the strategic zone; if it is, whether it is proper to be acquired as a real property; whether the property is in the Private Safety Zone. After the above mentioned information has been gathered, the Governorship will make its evaluation.
After an application to acquisition of limited real rights is made, the Governorship shall investigate whether the claim is within the frame of business activities of the company as it is determined in the Articles of Associations and after that, it shall make its evaluation. If the results of evaluation are positive, it means that the claim to acquire of real property and/or limited real rights is accepted. The result will be informed to the company and related Deed Office. If the result is negative, it will be informed only to the applicant company.
The companies, which are in scope of this regulation, should be established by foreign investors in Turkey and they should be legal entities. However, if a domestic capital company later becomes a foreign capital company should also fall in scope of these regulations.
THE REGULATION CONCERNING ALTERATION OF THE TURKISH BAR ASSOCIATION’S REGULATION ON LEGAL AID WAS PUBLISHED.
The regulation, which amends Turkish Bar Association’s Legal Aid Regulation, was published in the Official Gazette No. 27084, dated December 18, 2008. Also, it came into effect from the publication date.
The new Regulation covers amendment of Article 7 of the previous Turkish Bar Association regulation on Legal Aid No. 25418 and dated March 30, 2004.
According to Article 7 of previous regulation, which was published in the Official Gazette No. 25418, dated 30th March 2004, stated that the fixed fee should be paid in advance in accordance with the Attorney’s Minimum Fee Tariff to an attorney, who was appointed for providing legal aid. However, in respect of new Regulation, the fixed attorney fee for providing legal aid will be trebled considering a subject matter and the fee should be paid in advance by a resolution of the Board of the Bar. However, as determined in the first paragraph of the Article 7, it should not be appointed more than one attorney for the same case and, also, if an attorney has been discharged from the case and, consequently, a new attorney has been appointed, the new attorney should also be paid separately and there is no amendments made for these rules.
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