Ketenci & Ketenci is a full service Turkish Business law firm providing significant advice and service on Company, Corporate, Mergers and Acquisitions, Commercial Law, Investment in Turkey, Shipping/Maritime and Aviation Law, Debt Recovery, Banking, Business Law, Intellectual Property, EU Law, International Trade Law, Litigation and Dispute Resolution in Turkey.
No doubt the global economic resession and crisis have affected the European and US real estate markets.
On the other hand, the real estate markets in emerging markets like Turkey are still promising despite the global crisis.
The new Turkish Commercial Code numbered 6102 (the “New TCC”) was promulgated in the Official Gazette on February 14, 2011. The new Turkish Commercial Code will become effective as of July 1, 2012 pursuant to the Law numbered 6103 on the Validity and Application of the Turkish Commercial Code 1 July 2012 and Law.
On the other hand, some of the provisions therein will be effective on different dates.
Turkey has recently ratified the Convention on International Interests in Mobile
Equipment (the "Convention") and the Protocol to the Convention on Matters Specific to
Aircraft Equipment (the "Protocol" and, together with the Convention, the "Cape Town
Convention"). By ratifying such Convention, Turkey has become a country which is very
fit for aircraft finance in all respects.
Real estate acquisition by foreign real and legal persons has been regulated in the article 35 of the Land Registry Law numbered 2644 with law numbered 5444 and dated December 12,2005 which was published in the Official Gazette of 26046 numbered and dated January 7,2006. New fundamental principles were regulated with this new law for acquisition of real estate by foreign real persons and trade companies having a legal personality and established in foreign countries according to the laws of these countries in Turkey...
Turkish law belongs to the Civil law family system, and the development of modern law in Turkey was initially commenced through to the latest decades of 18th Century. Thus, Turkish law was derived notably from German, Swiss and Italian law systems. Whereas it continuously is being amended in accordance with the EU laws and regulations nowadays...