following points are effective regarding foreign capital firms established in
1. In the old regulation, foreign nationals could acquire real estate
within the framework of reciprocality. With the new regulation, instead of the
reciprocality principle, foreign nationals of countries that will be determined
by the Council of Ministers will be able to acquire real estate
2. In the old regulation a foreign national could acquire a total real
estate of 2,5 hectares (25.000 m2) and generally foreign nationals could have
10% of zoning area in a particular province. With the new regulation a foreign
nation can have up to 30 hectares (300.000m2) and foreign nationals can have
10% the area that is subject to private property.
3. In the old regulations, foreign nationals could acquire real estate
assigned as housing or business. With the new regulation zoning requirement was
removed and in case of an acquiry of a non-developed estate, project
development requirement (within two years) was put in force. The Project is to
be ratified and monitored by the related ministry.
4. With the new regulation, The Council of Ministers is empowered to
limit and forbid the acquiry of real estate by foreign nationals on the basis
nationality, geographical region, person and quality of the real estate.