Acquisition of immovables in Turkey by foreigners

The law regarding the real estate purchase procedure for foreigners has been developed and changed in the past since over years.The first appeared one was Safer Law and finally codification is ended with the Code No:5782The major codification related mentioned foreign investment was appeared with the Code No:2644 (Tapu Law ).This law was giving allowance only to individuals in reciprocal conditions and within other law?s limitations.In the year of 2003 by the help of the amendment made in the code No:4916 it was allowed to the foreign judicial corporations the one set up in their countries to purchase up to size limit of 300.000m2.After the cancellation of the above mentioned law by the Supreme Court in the year of 2005 the codification of the individual?s and the judicial corporation?s purchase has been subjected to different regulations.Foreign individuals were allowed to purchase residential or commercial properties or to have limited tangible rights on them reciprocally and maximum up to 25.000 m2 and within the boundaries of the other laws in force.Judicial corporations who are established at their countries was subjected to a particular regulation regarding property purchase and to have limited tangible rights on them.But Supreme Court again cancelled the regulations mentioned above.After cancellation the Parliament legislated the Code No:5782 in the year of 2008 which is still current.The current Code No:5782 has brought equal conditions for individuals and judicial bodies regarding property purchase.However in the law ,the authorization limits of the Council of Ministry in property purchase of foreigners was mentioned more clearly as it is noticed from the Supreme Court?s trials procedure and adverse Arguments of Supreme Court members.Additionally by the code No:5782 some more regulations appeared for the foreign capital investment rather than the Code No:5444.